Aem Holdings Ltd. · SGX:AWX
Aem — FY2023 Earnings Presentation
13 slides from Aem's earnings presentation, Feb 29, 2024
Slide 1: AEM Investor Update FY2023 Results
AEM Investor Update FY2023 Results AEM | FY2023 Investor Presentation
Slide 2: Disclaimer
Disclaimer This is a presentation of general information relating of financing. Accordingly, such statements are not and to the current activities of AEM Holdings Ltd. (“AEM”). should not be construed as a representation as to the It is given in summary form and does not purport to future of AEM, an
Slide 3: Business & Industry Update
Business & Industry Update AEM | FY2023 Investor Presentation 3
Slide 4: FY2023 Highlights
FY2023 Highlights Focus on engineering development and achieving operational excellence ensures AEM will be ready for future ramps • The Group posted revenue of S$481.3M in FY2023, with profit before tax, excluding exceptional items, of S$38.3M, while PBT including exceptional items was S$7.6M over
Slide 5: FY2023 Financial Highlights
FY2023 Financial Highlights Revenue • Revenue down vs. FY2022 due to a general slowdown in end markets and excess inventory at our customers’ end, FY2023 FY2022 causing a push-out in equipment capital expenditure S$481.3M S$870.5M SG&A Expenses • Continued focus on keeping costs under control has re
Slide 6: Rapid adoption of AI at the edge will drive test demand
Rapid adoption of AI at the edge will drive test demand Large compute players are targeting the release of initial edge AI devices in the latter half of 2024 to early 2025 AI PCs and GenAI Smartphones Market Share, Worldwide, 2023-2024 400 50% 43% 32% Share of Market (%) Unit Shipments (M) 200 25% 2
Slide 7: Test challenges of AI devices increases AEM's secular growth potential
Test challenges of AI devices increases AEM’s secular growth potential Test Challenges Increasing Power Reduced Time to Increasing Device Requirements Market Complexity Thermal Gradients Increasing Test Increasing Test Factory Coverage Times Automation Requirements AEM | FY2023 Investor Presentation
Slide 8: AEM's investment in R&D has yielded technology leadership in core competencies critical to AI chip testing
AEM’s investment in R&D has yielded technology leadership in core competencies critical to AI chip testing Application Optimized Thermal Advanced Automation Test Instrumentation Industry leading thermal Highly parallel, advanced In-house test instrumentation solutions across all test automation plat
Slide 9: New test insertion wins across traditional xPU manufacturers & Systems / Hyperscalers driving growth
New test insertion wins across traditional xPU manufacturers & Systems / Hyperscalers driving growth Revenue from new test insertion wins is expected to drive more than 5x revenue increase from FY2023 to triple digit millions in FY2025 2023 2024 2025 New Test Insertion Wins from 2023 to 2025 GDDR GD
Slide 10: Financial Update
Financial Update AEM | FY2023 Investor Presentation 10
Slide 11: Revenue Mix
Revenue Mix AEM’s revenue from Services increased year-on-year on the back of increased NRE and CM revenues S$M Revenue 870.5 242.0 (28%) 481.3 334.2 (38%) 288.5 (60%) Services comprises 294.3 manufacturing, engineering, 131.2 (27%) (34%) and FSE revenue 61.6 (13%) FY2023 FY2022 Test & Automation Eq
Slide 12: Balance Sheet
Balance Sheet Sound capital structure, with a Debt / Equity ration of 0.3x As at Dec’23 Dec’22 S$M S$M Cash 101.8 127.8 Trade and other receivables (-S$32.8M) Inventories 328.6 367.7 Decreased mainly due to lower revenue towards Trade and other receivables 60.1 92.9 the end of period Total assets 70
Slide 13: Thank You
Thank You Investor Relations Contact Samir MOWLA samir.mowla@aem.com.sg Financial PR Pte Ltd Kamal SAMUEL / Shivam SARAF Tel: 6438 2990 / Fax: 6438 0064 kamal@financialpr.com.sg shivam@financialpr.com.sg AEM | FY2023 Investor Presentation