Win Semiconductors Corp. · TPEX:3105
Win Semiconductors — Q1 2022 Earnings Presentation
12 slides from Win Semiconductors's earnings presentation, Apr 28, 2022
Slide 1: WIN Semiconductors 1Q2022 Investor Conference
WIN Semiconductors 1Q2022 Investor Conference April 2022 WIN Semiconductors Confidential
Slide 2: Safe Harbor Notice
Safe Harbor Notice This presentation contains certain forward-looking statements that are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Except as
Slide 3: Quarterly Results & Guidance
QUARTERLY RESULTS & GUIDANCE WIN Semiconductors Confidential 3
Slide 4: Revenue & Margin Trend
Revenue & Margin Trend 1Q22 revenue was NT$5.6b, down 22% QoQ and down 7% YoY. 1Q22 gross margin declined by 9.9 pp sequentially to 30.6% and operating margin declined by 11.5 pp to 16.4%. The declines were mainly caused by a decline in capacity utilization rate. NT$M Quarterly revenue trend Qua
Slide 5: Earnings Trend
Earnings Trend 1Q22 net profit was NT$ 786m, down 53% QoQ and down 28% YoY. EPS came in at NT$2.08, compared to NT$4.19 in 4Q21. NT$M Earnings & growth trend NT$ EPS 2,500 1000% 5.00 4.50 800% 2,000 4.00 600% 3.50 1,500 3.00 400% 2.50 1,000 200% 2.00 500 1.50 0% 1.00 0 -200% 0.50 4Q21 1Q22 2Q20 3Q
Slide 6: Product Mix
Product Mix 1Q21 Others* 19% 1Q22 Wi-Fi Others* 15-20% Cellular 14% 45-50% Wi-Fi 5-10% Infra. 15-20% 4Q21 Others* Cellular 16% Infra. 50-55% 20-25% Wi-Fi 5-10% Cellular 50-55% Infra. 20-25% * Others: Revenue not attributable to main product segments and additional revenue being consolidated in accor
Slide 7: 2Q22 Guidance
2Q22 Guidance We expect 2Q22 revenue to decline high-single digit QoQ. We expect 2Q22 gross margin will be between the level of high-twenties and low-thirties. WIN Semiconductors Confidential 7
Slide 8: Financial Summary
FINANCIAL SUMMARY WIN Semiconductors Confidential 8
Slide 9: Consolidated Statements of Comprehensive Income - Quarterly
Consolidated Statements of Comprehensive Income - Quarterly 1Q'22 Unit: NTD Million 1Q'21 4Q'21 QoQ YoY (unaudited) Net revenue 6,009 7,217 5,597 -22% -7% Gross profit 2,012 2,923 1,714 -41% -15% Gross margin (%) 33.5% 40.5% 30.6% Operating expenses (816) (914) (798) -13% -2% Operating expenses rate
Slide 10: Non-operating Items
Non-operating Items 1Q'22 Unit: NTD Million 1Q'21 (unaudited) Foreign exchange gains (losses) 191 339 Gains (losses) on disposals of property, plant and equipment (5) (0.1) Gains on financial assets (liabilities) at fair value through 78 (279) profit or loss, net Share of gians (losses) of associate
Slide 11: Consolidated Balance Sheets
Consolidated Balance Sheets 2022/3/31 2021/3/31 2021/12/31 (Unit: NTD Million) Major Item (unaudited) $ % $ % $ % Cash and cash equivalents 22,334 32% 16,332 22% 14,207 19% Current financial assets at fair value through profit or loss 896 1% 62 0.1% 57 0.1% Notes and accounts receivable, net 1,999 3
Slide 12: Q&A
Q&A For more information regarding WIN www.winfoudry.com For all inquiries, suggestions, and comments ir@winfoundry.com WIN Semiconductors Confidential 12