AEM Holdings Ltd. · SGX:AWX
AEM — Shareholder Meeting (April 2023)
17 slides from AEM's shareholder meeting presentation, Apr 27, 2023
Slide 1: Annual General Meeting Presentation to Shareholders
AEM Holdings Ltd. Annual General Meeting Presentation to Shareholders 27 April 2023 Suntec Singapore Convention & Exhibition Centre AEM AGM PRESENTATION FY2022
Slide 2: Disclaimer
Disclaimer This is a presentation of general information relating to the be construed as a representation as to the future of AEM, and current activities of AEM Holdings Ltd. (“AEM”). It is given in are not intended to be profit forecasts, estimations or summary form and does not purport to be compl
Slide 3: Agenda
Business & Industry Update Agenda Financial Review Resolutions & Results AEM AGM PRESENTATION FY2022 3
Slide 4: Record-Breaking Performance in FY2022
AEM NOTCHED ANOTHER Revenue PBT Record-Breaking Performance in FY2022 S$870.5M Revenue of S$870.5M driven by Test 2.0 +54% vs FY2021 S$158.7M capacity expansion at key customer to +43% vs FY2021 address their advanced device test needs. The shift from Test 1.0 to Test 2.0 at our key customer has bee
Slide 5: Demand for Test 2.0 continues to grow despite expected softening
Demand for Test 2.0 continues to grow despite an expected softening in the semiconductor device market in 2023, with a rebound expected in early 2024 Gartner Index of Inventory Semiconductor Supply Chain Tracking Customer Wins Announced in Source: Gartner (February 2023) FY2021-FY2022 Severe Surplus
Slide 6: Industry megatrends point to secular growth for semiconductor test
Industry megatrends point to secular growth for semiconductor test, with accelerating need for Test 2.0 to address high-growth advanced device areas AEM’s SAM is growing Global AI Chip Market (US$ Billion) from US$3.6B in 2022 to CAGR: 40.1% US$5.4B in 2024 57.8 Source: AEM Analysis 7.6 2020 2026 So
Slide 7: This is backed by industry experts…
This is backed by industry experts… “SLT testing will be the future “SLT covers the system gap for all digital and transceiver missed by component products, no question.” structural test.” W.J. Miller Harry H. Chen VP Engineering at Qualcomm Scientist, IC Test at MediaTek Keynote SW Test 2021 SLT Pa
Slide 8: Test 1.0 flows result in significant cost of test
Using existing Test 1.0 flows to overcome the test challenges of today’s advanced devices results in a significant cost of test Test 1.0 Flow System Wafer Sort Burn In Final Test Level Test Test Challenges Increasing Increasing Power Adoption of Increasing Test Increasing Thermal Increasing Test Dev
Slide 9: Test 2.0 resets the cost of test
Test 2.0 resets the cost of test by enabling the reimagining of backend test via composable solutions 4-Core, Monolithic Die based XPU Source: Intel Test 2.0 Flow Data Analytics & Process Flow Management DFT DFT “Focused” Wafer Sort Final Test DFT Burn In System Level Test Next Generation, Tile-base
Slide 10: Core to AEM's strategy is customization at scale
Core to AEM’s strategy is customization at scale, enabling the mass deployment of Test 2.0 solutions to a growing customer base Manufacturing Technology Pillars Global Field Infrastructure to via R&D and M&A Service Team Ensure Delivery Advanced Thermal Automation Solutions HAN DLERS Wafer, Packaged
Slide 11: FY2022 Financial Review
FY2022 Financial Review AEM AGM PRESENTATION FY2022
Slide 12: Financial Highlights: FY2022 – A Record Year
Financial Highlights FY2022 – A Record Year Revenue PBT Diluted EPS S$ 870.5M S$ 158.7M 40.7 SG cents +54% vs FY2021 +43% vs FY2021 +29% vs FY2021 NAV per share Dividend per share 157.1 SG cents 10.3 SG cents +21% vs FY2021 +35% vs FY2021 AEM AGM PRESENTATION FY2022 12
Slide 13: Highest Revenue and PBT Year on Record
Highest Revenue and PBT Year on Record S$870.5M in revenue and S$158.7M in PBT 870.5 158.7 Revenue (S$M) PBT (S$M) FY2022 exceeded revenue guidance by S$20.5M 113.8 111.1 565.5 CAGR 519.0 CAGR 52% 72% 63.7 323.1 262.3 221.6 37.5 40.0 70.1 6.1 2016 2017 2018 2019 2020 2021 2022 2016 2017 2018 2019 20
Slide 14: A Robust Balance Sheet
A Robust Balance Sheet Sound capital structure – Debt/Equity of 0.3x As at Dec’22 Dec’21 in S$M Total Assets 805.6 710.5 Shareholders’ Equity 485.0 402.5 in SG Cents NTA per share 119.6 98.7 NAV per share 157.1 130.0 Debt/ Equity 0.3x 0.2x No. of Shares less treasury shares (‘000) 308,753 309,649 AE
Slide 15: Cash Flow Highlights
Cash Flow Highlights S$M FY2022 FY2021 Beginning Cash 216.2 134.8 PAT 127.3 92.1 Operating Activities Outflow: S$31.4M Changes in working capital & others (158.7) (37.2) Investing Activities Capex, intangible assets & others (23.7) (16.0) Outflow: S$38.4M Acquisition related (14.7) (87.6) Return to
Slide 16: Capital Allocation
Capital Allocation Increased return to shareholders with record profits while being prudent and preserving cash S$M FY2022 FY2021 FY2020 FY2019 Cumulative CUMULATIVE CAPITAL ALLOCATION Dividends 36.2 18.6 22.2 10.5 87.5 BREAKDOWN FY2019 - FY2022 Share 5.3 4.6 2.9 1.7 14.5 buybacks Acquisitions 14.7
Slide 17: Thank You!
Thank You! Investor Relations Contact Samir MOWLA samir.mowla@aem.com.sg Financial PR Pte Ltd Kamal SAMUEL / Shivam SARAF / Urvija DIWAN Tel: 6438 2990 / Fax: 6438 0064 kamal@financialpr.com.sg shivam@financialpr.com.sg urvija@financialpr.com.sg AEM AGM PRESENTATION FY2022 19