Slide 1: ASE Technology Holding Fourth Quarter 2022 Earnings Release
1 ASE Technology Holding Co., Ltd. February 9, 2023 ASE Technology Holding Fourth Quarter 2022 Earnings Release
Slide 2: Safe Harbor Notice
2 Safe Harbor Notice This presentation contains "forward - looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Although these forward - looking statements, whi
Slide 3: Consolidated Statements of Income Quarterly Comparison
3 Consolidated Statements of Income Quarterly Comparison (unaudited) (NT$ million) Q4 / 2022 % Q3 / 2022 % Q4/ 2021 % QoQ YoY Q4 / 2021 % YoY Net Revenues: ATM 92,742 52.3% 97,137 51.5% 90,583 52.4% -5% 2% 83,805 50.4% 11% EMS 83,931 47.3% 90,660 48.1% 81,541 47.2% -7% 3% 81,541 49.1% 3% Others 744
Slide 4: Consolidated Statements of Income Yearly Comparison
4 Consolidated Statements of Income Yearly Comparison (unaudited) (NT$ million) FY / 2022 % FY / 2021 % YoY FY / 2021 % YoY Net Revenues: ATM 365,589 54.5% 327,718 57.5% 12% 302,300 55.5% 21% EMS 301,967 45.0% 239,488 42.0% 26% 239,488 44.0% 26% Others 3,317 0.5% 2,791 0.5% 19% 2,791 0.5% 19% Total
Slide 5: Consolidated Operations
5 Consolidated Operations (unaudited) 65,557 70,919 82,019 83,805 82,355 93,355 97,137 92,742 47,684 49,147 61,116 81,541 61,163 66,213 90,660 83,931 602 619 758 812 873 871 829 744 18.3% 19.4% 20.3% 18.9% 19.7% 21.4% 20.1% 19.2% 9.1% 10.3% 12.1% 11.3% 11.2% 12.8% 12.6% 11.1% 0% 10% 20% 30% 40% 0 50
Slide 6: ATM Statements of Income Quarterly Comparison
6 ATM Statements of Income Quarterly Comparison (unaudited) (NT$ million) Q4 / 2022 % Q3 / 2022 % Q4 / 2021 % QoQ YoY Q4 / 2021 % YoY Net Revenues: Packaging 78,119 82.8% 82,090 83.1% 76,664 83.4% -5% 2% 70,942 83.3% 10% Testing 14,676 15.6% 14,941 15.1% 13,756 15.0% -2% 7% 12,700 14.9% 16% Direct M
Slide 7: ATM Statements of Income Yearly Comparison
7 ATM Statements of Income Yearly Comparison (unaudited) (NT$ million) FY / 2022 % FY / 2021 % YoY FY / 2021 % YoY Net Revenues: Packaging 310,024 83.3% 279,365 83.4% 11% 258,014 83.4% 20% Testing 55,960 15.0% 49,981 14.9% 12% 45,914 14.9% 22% Direct Material 6,018 1.6% 5,346 1.6% 13% 5,346 1.7% 13%
Slide 8: ATM Operations
8 ATM Operations (unaudited) 16,989 18,876 23,181 24,301 23,101 27,768 28,832 26,193 68,139 72,747 83,321 85,180 84,025 94,998 98,831 94,322 24.9% 25.9% 27.8% 28.5% 27.5% 29.2% 29.2% 27.8% 0% 10% 20% 30% 40% 50% 0 20,000 40,000 60,000 80,000 100,000 Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 Q3/22 Q4/2
Slide 9: ATM Revenue by Application
9 ATM Revenue by Application (unaudited) 53% 52% 53% 53% 52% 52% 53% 53% 14% 15% 15% 16% 16% 16% 16% 16% 33% 33% 32% 31% 32% 32% 31% 31% 0% 20% 40% 60% 80% 100% Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 Q3/22 Q4/22 Communication Computing Automotive, Consumer & Others *: We are providing you with the
Slide 10: ATM Revenue by Type
10 37% 36% 39% 40% 43% 43% 42% 43% 38% 40% 37% 36% 34% 35% 34% 33% 8% 7% 7% 7% 6% 6% 7% 7% 15% 15% 15% 15% 15% 15% 15% 15% 2% 2% 2% 2% 2% 1% 2% 2% 0% 20% 40% 60% 80% 100% Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 Q3/22 Q4/22 Material Testing Others Wirebonding Bump/FC/WLP /SiP ATM Revenue by Type (una
Slide 11: EMS Operations Quarterly/Yearly Comparison
11 EMS Operations Quarterly/Yearly Comparison (unaudited ) (NT$ million) Q4 / 2022 % Q3 / 2022 % Q4 / 2021 % QoQ YoY EMS Net Revenues 83,933 100.0% 90,665 100.0% 81,544 100.0% -7% 3% Gross Profit 7,803 9.3% 9,198 10.1% 7,108 8.7% -15% 10% Operating Income (Loss) 3,959 4.7% 5,130 5.7% 3,599 4.4% -23%
Slide 12: EMS Operations Revenue by Application
12 EMS Operations Revenue by Application (unaudited ) 39% 39% 38% 38% 40% 35% 37% 38% 7% 10% 10% 8% 10% 13% 9% 9% 33% 28% 33% 38% 29% 28% 36% 34% 14% 16% 12% 11% 13% 15% 11% 12% 5% 5% 5% 4% 6% 8% 6% 6% 2% 2% 2% 1% 2% 1% 1% 1% 0% 20% 40% 60% 80% 100% Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Co
Slide 13: Key Balance Sheet Items & Indices
13 Key Balance Sheet Items & Indices (unaudited) (NT$ million) Dec. 31, 2022 Sept. 30, 2022 Cash and cash equivalent $58,040 $52,358 Financial assets - current 7,560 9,667 Financial assets - non current & investments - equity method 22,909 22,926 Property, plant & equipment 268,235 264,508 Total ass
Slide 14: Equipment Capital Expenditure vs. EBITDA
14 Equipment Capital Expenditure vs. EBITDA (unaudited) 432 567 425 437 443 515 400 339 830 916 1,108 1,174 1,100 1,203 1,283 1,141 0 200 400 600 800 1,000 1,200 1,400 Q1/21* Q2/21* Q3/21* Q4/21* Q1/22 Q2/22 Q3/22 Q4/22 US$ million Capex EBITDA *: We are providing you with the unaudited pro forma fi
Slide 15: 2022 Recap
15 2022 Recap • 2022 revenue and margin improvement achieved targets • 2022 ASE ATM revenue grew 13% year over year (all in USD terms, on pro forma basis), more than 2x of the logic semiconductor industry growth • 2022 ASE ATM GM/OPM was 28.5%/17.9% (29.4%/19.1% excluding PPA (purchase price allocat
Slide 16: 2023 Outlook (1/2)
16 2023 Outlook (1/2) • Industry outperformer with enhanced structural profitability • Expect ASE ATM 1Q2023 revenue to be sub - seasonal due to industry destocking; however, ATM business should trough in the first quarter followed by sequential quarter to quarter growth for the remaining of the yea
Slide 17: 2023 Outlook (2/2)
17 2023 Outlook (2/2) • Late to fall, Early to rise • Scale, technology leadership, flexibility and proven record make ASE an indispensable manufacturing partner, resulting in more resilient pricing and expanding lead against competition during volatile market timing. • ASE’s global footprint gives
Slide 18: First Quarter 2023 Outlook
18 First Quarter 2023 Outlook* Based on our current business outlook and exchange rate assumptions, management projects overall performance for the first quarter of 2023 to be as follows : • In NT dollar terms, our ATM 1st quarter 2023 business levels should be similar with proforma 2nd quarter 2021
Slide 19: Thank You
19 www.aseglobal.com Thank You
Slide 20: Consolidated Statements of Comprehensive Income Pro Forma Historical Data
20 Appendix 1 Consolidated Statements of Comprehensive Income Pro Forma Historical Data* (unaudited) (NT$ million) Q1/2021 % Q2/2021 % Q3/2021 % Q4/2021 % FY/2021 % Net Revenues: ATM 65,557 57.6% 70,919 58.8% 82,019 57.0% 83,805 50.4% 302,300 55.5% EMS 47,684 41.9% 49,147 40.7% 61,116 42.5% 81,541 4
Slide 21: ATM Statements of Comprehensive Income Pro Forma Historical Data
21 Appendix 2 ATM Statements of Comprehensive Income Pro Forma Historical Data* (unaudited) (NT$ million) Q1/2021 % Q2/2021 % Q3/2021 % Q4/2021 % FY/2021 % Net Revenues: Packaging 56,844 83.4% 60,716 83.5% 69,512 83.5% 70,942 83.3% 258,014 83.4% Testing 10,204 15.0% 10,656 14.6% 12,354 14.8% 12,700
Slide 22: Consolidated Statements of Comprehensive Income
22 Appendix 3 Consolidated Statements of Comprehensive Income ( unaudited) (NT$ thousand) Q1/2022 Q2/2022 Q3/2022 Q4/2022 FY/2022 Revenues 144,390,827 160,439,019 188,625,557 177,417,239 670,872,642 COGS 115,919,599 126,051,460 150,653,584 143,317,989 535,942,632 PPA under COGS 920,316 918,661 916,4