Gcs Holdings, Inc. · TPEX:4991
Gcs — Q4 2024 Earnings Presentation
23 slides from Gcs's earnings presentation, Feb 20, 2025
Slide 1: Q4 2024 Quarterly Online Investor Conference
環宇 芯系天下 March 3, 2016 Q4 2024 Quarterly Online Investor Conference (線上法說會) February 20, 2025
Slide 2: Disclaimer Statement
Disclaimer Statement This presentation includes forward-looking statements. All statements, other than statements of historical facts, that address activities, events or developments that GCS Holdings, Inc. expects or anticipates will or may occur in the future (including but not limited to projecti
Slide 3: Agenda
Agenda Opening: Brian Ann, CEO & President Financial Section: Kelly Lin, Special Assistant to CEO Market Section : Simon Yu, Senior VP and Spokesperson Q&A: All 2
Slide 4: Financial Section
FINANCIAL SECTION 3
Slide 5: Statements of Comprehensive Income - QoQ
Statements of Comprehensive Income - QoQ (in NT$ thousands except EPS) 4Q24 4Q24 4Q24 3Q24 4Q23 Over Over 3Q24 4Q23 Net Operating Revenue 476,322 458,496 400,014 3.9% 19.1% Gross Profit 206,740 169,819 98,590 21.7% 109.7% Gross Margin 43.4% 37.0% 24.6% Operating Expenses (117,217) (115,474) (83,872)
Slide 6: Revenue Mix % vs Gross Margin - QoQ
Revenue Mix % vs Gross Margin - QoQ 5
Slide 7: KGD Revenue Mix - QoQ
KGD Revenue Mix - QoQ KGD Revenue Analysis-By Application 96% 97% 98% 98% 100% 93% 93% 94% 90% 83% 80% 70% 60% 50% 40% 30% 2% 20% 12% 2% 2% 3% 0% 0% 4% 10% 5% 3% 4% 4% 2% 2% 1% 2% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2023 2023 2023 2024 2024 2024 2024 DC/AOC/AI PON LTE/Ethernet & Other 6
Slide 8: Non-operating Income and Expenses - QoQ
Non-operating Income and Expenses- QoQ 4Q24 4Q24 4Q24 3Q24 4Q23 Over Over 3Q24 4Q23 Other Income - other 9,342 1,959 861 376.9% 985.0% Other Gains and Losses Net currency exchange gain (loss) (914) 886 (2,023) -203.2% -54.8% Gain (loss) on disposal of property,plant and (30) 189 - -115.9% - equipmen
Slide 9: Statements of Comprehensive Income - YoY
Statements of Comprehensive Income - YoY (in NT$ thousands except EPS) 2024 % 2023 % Change (%) Net Operating Revenue 1,750,044 100.0% 1,350,604 100.0% 29.6% Operating Cost (1,087,036) -62.1% (1,113,345) -82.4% -2.4% Gross Profit 663,008 37.9% 237,259 17.6% 179.4% Operating Expenses (470,234) -26.9%
Slide 10: Non-operating Income and Expenses - YoY
Non-operating Income and Expenses- YoY (in NT$ thousands) 2024 2023 Change (%) Other Income 13,609 3,202 325.0% Other Income - Income from Employee retention tax 124,341 - - credit (ERTC) Other Gains and Losses Net currency exchange loss (3,599) (3,483) 3.3% Gain on disposal of property, plant and 3
Slide 11: Balance Sheet Highlight & Key Indices
Balance Sheet Highlight & Key Indices Selected Items from Balance Sheet (in NT$ thousands) 4Q24 3Q24 4Q23 Amount % Amount % Amount % Cash and Cash Equivalent 576,516 16% 328,603 10% 345,234 10% Accounts Receivable 300,657 9% 291,858 9% 237,456 7% Accounts Receivable - Related Party 35,098 1% 11,964
Slide 12: Cash Flows
Cash Flows (in NT$ thousands) 4Q24 3Q24 4Q23 Beginning Balance 328,603 236,813 231,216 Cash from Operating Activities 186,742 70,814 29,799 Acquisition of investments accounted for under the equity method - - (191,137) Acquisition of property, plant and equipment (4,295) (439,099) (46,014) Decrease
Slide 13: Market Update
Market Update Feb 20, 2025 Simon Yu GCS Proprietary 12
Slide 14: CSP – Capital Expenditures - 1
CSP – Capital Expenditures - 1 • Industry sources cited by Commercial Times estimate that capital expenditures by CSPs will surpass USD 240 billion by 2025, reflecting an annual increase of over 10%. • The report indicated that the increase in capital expenditures by CSPs is expected to boost demand
Slide 15: CSP – Capital Expenditures - 2
CSP – Capital Expenditures - 2 • Meta 3Q2024 $9.2b (36$ YoY), total FY2024 $40+b 2025 – USD 60-65b • Amazon 3Q2024 $22.62b (81% YoY), CY2024 $51b GCS Proprietary 14
Slide 16: AI Clusters
AI Clusters DeepSeek – make AI model more efficient and affordable! Drive more AI usage more Optical Modules GCS Proprietary 15
Slide 17: Optical Transceiver Market
Optical Transceiver Market 800G modules – 20m 2025 1.6T modules – 5m 2025 GCS Proprietary 16
Slide 18: Worldwide Optical Modules
Worldwide Optical Modules 400G and above modules: 2023 – 6.4m, 2024 – 20.4m, 2025 – 31.9m GCS Proprietary 17
Slide 19: Datacom/Telecom Market
Datacom/Telecom Market • GCS enables 400/800G/1.6T optical modules for AI/DC • GCS shipped >100 millions PD for 400G/800G applications in 2024 • 200G/lane PD ready for production GCS PD GCS PD GCS PD/LD up to 1.6T - Fiber optical modules – CAGR 25% (2023-2028) - 800G and beyond – CAGR 70+% (2023-202
Slide 20: PD for Silicon Photonics PICs
PD for Silicon Photonics PICs • Today - External PDs are majorly used together with Silicon Photonics PIC • Silicon photonics is not able to integrate backside-lens- based 200G/lane PDs into PIC • III-V PDs, have a direct bandgap, which allows them to emit photons quickly, and can cover wider wavele
Slide 21: Thanks to JS Huang & DeepSeek
Thanks to JS Huang & DeepSeek At UIUC GCS Proprietary 20
Slide 22: Q&A
Q&A 21
Slide 23: For further inquiry
環宇 系天下 For further inquiry investors@gcsincorp.com 22