Slide 1: MediaTek 2023-Q4 Investor Conference
聯發科技 2023年第四季法人說明會 MediaTek 2023-Q4 Investor Conference January 31, 2024 Copyright © MediaTek Inc. All rights reserved.
Slide 2: Safe Harbor Statement
Safe Harbor Statement These factors may cause actual results materially different from the information provided herein. The factors include the impact of competitive products and pricing, timely acceptance of products design by our customers, timely introduction of new technologies, ability to ramp
Slide 3: Consolidated Revenue
Consolidated Revenue (NT$ million) QoQ YoY YoY 17.7% 19.7% -21% 160,000 600,000 548,796 550,000 140,000 129,562 500,000 120,000 108,194 110,098 450,000 433,446 400,000 100,000 350,000 80,000 300,000 250,000 60,000 200,000 40,000 150,000 100,000 20,000 50,000 0 0 4Q22 3Q23 4Q23 2022 2023 Copyright ©
Slide 4: Consolidated Gross Margin
Consolidated Gross Margin QoQ YoY 0.9pt YoY 0pt -1.6pt 50% 50% 49.4% 48.3% 48.3% 47.4% 47.8% 45% 45% 40% 40% 35% 4Q22 3Q23 4Q23 2022 2023 Copyright © MediaTek Inc. All rights reserved. 3
Slide 5: Consolidated Operating Expenses
Consolidated Operating Expenses (NT$ million) QoQ YoY YoY 10.6% 10.8% -5.9% 40,000 37,881 160,000 34,175 34,248 4,659 144,116 35,000 140,000 135,568 3,666 3,745 2,749 14,240 30,000 2,462 2,261 14,479 120,000 13,001 9,703 25,000 100,000 20,000 Sales 80,000 Admin 15,000 30,472 28,047 28,242 60,000 116
Slide 6: Consolidated Operating Income
Consolidated Operating Income (NT$ million) QoQ YoY 37.8% YoY 36.8% -43.4% 30,000 140,000 126,788 24,736 120,000 25,000 100,000 20,000 18,086 17,944 80,000 71,800 15,000 60,000 10,000 40,000 5,000 20,000 0 0 4Q22 3Q23 4Q23 2022 2023 Copyright © MediaTek Inc. All rights reserved. 5
Slide 7: Consolidated Operating Margin
Consolidated Operating Margin QoQ YoY YoY 2.8pt 2.4pt -6.5pt 30% 25% 23.1% 25% 20% 19.1% 16.6% 20% 16.7% 16.3% 15% 15% 10% 10% 5% 5% 0% 0% 4Q22 3Q23 4Q23 2022 2023 Copyright © MediaTek Inc. All rights reserved. 6
Slide 8: Consolidated Net Income
Consolidated Net Income (NT$ million) QoQ YoY 38.5% YoY 38.9% -34.9% 40,000 140,000 35,000 118,625 120,000 30,000 25,713 100,000 25,000 80,000 77,191 20,000 18,514 18,569 60,000 15,000 10,000 40,000 5,000 20,000 0 0 4Q22 3Q23 4Q23 2022 2023 Copyright © MediaTek Inc. All rights reserved. 7
Slide 9: Consolidated Net Profit Margin
Consolidated Net Profit Margin QoQ YoY 2.9pt YoY 2.7pt -3.8pt 30% 25% 21.6% 25% 20% 17.8% 19.8% 20% 17.1% 16.9% 15% 15% 10% 10% 5% 5% 0% 0% 4Q22 3Q23 4Q23 2022 2023 Copyright © MediaTek Inc. All rights reserved. 8
Slide 10: Consolidated Earnings Per Share
Consolidated Earnings Per Share (NT$ ) QoQ YoY YoY $4.51 -$26.08 $4.49 80.00 74.59 18.00 16.15 16.00 70.00 14.00 60.00 12.00 11.66 11.64 48.51 50.00 10.00 40.00 8.00 30.00 6.00 20.00 4.00 2.00 10.00 0.00 0.00 4Q22 3Q23 4Q23 2022 2023 Copyright © MediaTek Inc. All rights reserved. 9
Slide 11: Business Outlook
Business Outlook For 2024-Q1, we currently expect: Consolidated revenue: Around NT$121.8 billion ~ 129.6 billion, at a forecast exchange rate of 31.2 NT dollars to 1 US dollar Consolidated gross margin: 47% ± 1.5% Consolidated operating expense ratio: 28% ± 2% Copyright © MediaTek Inc. All r
Slide 12: Taiwan-International Financial Reporting Standards (TIFRS) Financial Statements
Taiwan-International Financial Reporting Standards (TIFRS) Financial Statements Copyright © MediaTek Inc. All rights reserved. 11
Slide 13: Consolidated Income Statement (Unaudited)
Consolidated Income Statement (Unaudited) (In NT$ millions, except EPS) 4Q23 3Q23 4Q22 Q-Q Y-Y Net Sales 129,562 110,098 108,194 17.7% 19.7% Operating costs (66,946) (57,905) (55,933) Gross profit 62,616 52,192 52,261 20.0% 19.8% Selling expenses (4,659) (3,745) (3,666) Administration expenses (2,74
Slide 14: Supplemental Information: Percentage of Revenue
Supplemental Information: Percentage of Revenue 4Q23 3Q23 4Q22 Gross profit 48.3% 47.4% 48.3% Selling expenses (3.6%) (3.4%) (3.4%) Administration expenses (2.1%) (2.1%) (2.3%) R&D expenses (23.5%) (25.7%) (25.9%) Operating income 19.1% 16.3% 16.7% Non-operating income 2.8% 2.8% 2.7% Income tax expe
Slide 15: Consolidated Income Statement (Unaudited)
Consolidated Income Statement (Unaudited) (In NT$ millions, except EPS) 2023 2022 Y-Y Net Sales 433,446 548,796 (21.0%) Operating costs (226,079) (277,892) Gross profit 207,367 270,904 (23.5%) Selling expenses (14,479) (14,240) Administration expenses (9,703) (13,001) R&D expenses (111,385) (116,875
Slide 16: Supplemental Information: Percentage of Revenue
Supplemental Information: Percentage of Revenue 2023 2022 Gross profit 47.8% 49.4% Selling expenses (3.3%) (2.6%) Administration expenses (2.2%) (2.4%) R&D expenses (25.7%) (21.3%) Operating income 16.6% 23.1% Non-operating income 3.5% 1.6% Income tax expense (2.2%) (3.1%) Net income 17.8% 21.6% Not
Slide 17: Balance Sheet Summary (Unaudited)
Balance Sheet Summary (Unaudited) (In NT$ millions) 4Q23 3Q23 4Q22 Cash & financial assets-current 180,673 119,324 164,810 Accounts receivable 55,106 61,154 40,842 Inventories 43,220 53,391 70,703 Other current assets 11,889 33,311 21,298 Funds and investments 150,006 154,925 123,489 Intangible asse
Slide 18: Cash Flow Statement (Unaudited)
Cash Flow Statement (Unaudited) (In NT$ millions) 4Q23 3Q23 4Q22 Net cash provided by (used in) operating activities 101,536 14,966 59,034 Net cash provided by (used in) investing activities (7,473) (55) (2,918) Net cash provided by (used in) financing activities (24,884) (94,031) (45,661) Effect of
Slide 19: Reconciliations of TIFRS Results to Non-TIFRS Results and Quarterly Revenue Product Segment
【Supplemental Information】 Reconciliations of TIFRS Results to Non-TIFRS Results and Quarterly Revenue Product Segment Copyright © MediaTek Inc. All rights reserved. 18
Slide 20: Reconciliations of TIFRS Results to Non-TIFRS Results
Reconciliations of TIFRS Results to Non-TIFRS ResultsNote2 (In NT$ millions) 4Q23 3Q23 4Q22 Q-Q Y-Y Operating income 24,736 17,944 18,086 37.8% 36.8% TIFRS Operating income margin(%) 19.1% 16.3% 16.7% Share-based compensation 269 504 568 Reconciliations Amortization of acquisition related assets 75
Slide 21: Reconciliations of TIFRS Results to Non-TIFRS Results
Reconciliations of TIFRS Results to Non-TIFRS ResultsNote2 (In NT$ millions) 2023 2022 Y-Y Operating income 71,800 126,788 (43.4%) TIFRS Operating income margin(%) 16.6% 23.1% Share-based compensation 1,899 4,175 Reconciliations Amortization of acquisition related assets 438 499 Operating income 74,
Slide 22: Quarterly Product Group Revenue Breakdown
Quarterly Product Group Revenue Breakdown 4Q23 Product Group* Revenue Breakdown QoQ% YoY% (Note 1) Mobile Phone 64% 53% 48% Smart Edge Platforms 30% -19% -13% Power IC 6% 1% 1% Total 100% 18% 20% Note 1: Sums may not equal 100% due to rounding. * Mobile Phone: 5G/4G/3G smartphone and feature phone S
Slide 23: www.mediatek.com
www.mediatek.com Copyright © MediaTek Inc. All rights reserved. 22