Ase Technology Holding Co., Ltd. · TWSE:3711
Ase Technology — Q4 2019 Earnings Presentation
17 slides from Ase Technology's earnings presentation, Feb 7, 2020
Slide 1: ASE Technology Holding Fourth Quarter 2019 Earnings Release
ASE Technology Holding Fourth Quarter 2019 Earnings Release ASE Technology Holding Co., Ltd. February 7, 2020 1
Slide 2: Safe Harbor Notice
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, which may
Slide 3: 2019 Business Recap
2019 Business Recap • The SPIL transaction currently under review by China anti-monopoly bureau • Final audit report submitted to China anti-monopoly bureau, waiting for official letter of approval • EMS achieved record high revenues US$5.4B • Focus areas of growth with accelerating momentum into 20
Slide 4: Consolidated Statements of Comprehensive Income - Quarterly Comparison
Consolidated Statements of Comprehensive Income Quarterly Comparison (unaudited) (NT$ Million) Q4 / 2019 % Q3 / 2019 % Q4 / 2018 % QoQ YoY Net Revenues: ATM 66,769 57.5% 66,440 56.5% 63,025 55.3% 0% 6% EMS 48,734 42.0% 50,584 43.0% 50,736 44.4% -4% -4% Others 520 0.5% 533 0.5% 267 0.3% -2% 95% Total
Slide 5: Consolidated Statements of Comprehensive Income - Yearly Comparison
Consolidated Statements of Comprehensive Income Yearly Comparison (unaudited) 2 Pro forma Legal entity (NT$ Million) FY / 2019 % FY / 2018 % FY / 2018 % YoY YoY Net Revenues: ATM 245,612 59.4% 244,396 61.5% 218,227 58.8% 0% 13% EMS 165,789 40.1% 151,890 38.2% 151,890 40.9% 9% 9% Others 1,781 0.5% 97
Slide 6: ATM Statements of Comprehensive Income - Quarterly Comparison
ATM Statements of Comprehensive Income Quarterly Comparison (unaudited) (NT$ Million) Q4 / 2019 % Q3 / 2019 % Q4 / 2018 % QoQ YoY Net Revenues: Packaging 56,093 81.0% 55,163 81.2% 52,068 81.2% 2% 8% Testing 11,932 17.2% 11,495 16.9% 10,920 17.0% 4% 9% Direct Material 1,228 1.8% 1,211 1.8% 1,093 1.7%
Slide 7: ATM Statements of Comprehensive Income - Yearly Comparison
ATM Statements of Comprehensive Income Yearly Comparison (unaudited) Pro forma2 Legal entity (NT$ Million) FY / 2019 % FY / 2018 % FY / 2018 % YoY YoY Net Revenues: Packaging 204,073 81.3% 203,907 82.1% 181,675 81.8% 0% 12% Testing 42,664 17.0% 39,842 16.1% 35,905 16.2% 7% 19% Direct Material 4,283
Slide 8: Pro Forma ATM Operations
Pro Forma ATM Operations2 (unaudited) NT$ Million 67,901 69,287 70,000 66,324 30% 64,120 61,790 59,594 60,000 55,985 14,708 15,697 14,268 54,371 11,870 13,962 11,100 50,000 9,491 8,438 22.7% 20% 21.5% 21.8% 21.7% 40,000 19.2% 18.6% 17.0% 30,000 15.5% 10% 20,000 10,000 0 0% Q1/18 Q2/18 Q3/18 Q4/18 Q1
Slide 9: Pro Forma ATM Revenue by Application
Pro Forma ATM Revenue by Application2 (unaudited) 100% 33% 36% 35% 34% 34% 35% 33% 30% 80% 60% 14% 14% 13% 14% 16% 15% 14% 14% 40% 53% 49% 51% 52% 53% 51% 53% 54% 20% 0% Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Communication Computer Automotive, Consumer & Others 2: Pro forma financial inform
Slide 10: Pro Forma ATM Revenue by Type
Pro Forma ATM Revenue by Type2 (unaudited) 100% 2% 2% 2% 2% 2% 2% 2% 2% 15% 15% 16% 17% 16% 17% 17% 17% 80% 7% 7% 8% 8% Material 9% 8% 9% 7% Testing 60% 36% Discrete and 46% 45% 43% 39% 40% 39% 37% Other Wirebonding 40% Bump/FC/WLP /SiP 20% 38% 30% 31% 31% 33% 34% 34% 35% 0% Q1/18 Q2/18 Q3/18 Q4/18
Slide 11: EMS Operations - Quarterly & Yearly Comparison
EMS Operations Quarterly & Yearly Comparison (unaudited) (NT$ Million) Q4 / 2019 % Q3 / 2019 % Q4 / 2018 % QoQ YoY EMS Net Revenues 48,762 100.0% 50,599 100.0% 50,745 100.0% -4% -4% Gross Profit 4,319 8.9% 4,494 8.9% 4,610 9.1% -4% -6% Operating Income (Loss) 1,553 3.2% 2,099 4.1% 2,180 4.3% -26% -2
Slide 12: EMS Operations - Revenue By Application
EMS Operations Revenue By Application (unaudited) 100% 1% 1% 1% 4% 1% 1% 1% 4% 7% 6% 5% 5% 6% 4% 10% 10% 9% 10% 9% 11% 14% 15% 80% 24% 25% 32% 36% 44% 24% 41% 60% 38% 17% 19% 11% 14% 40% 14% 9% 10% 13% 20% 42% 38% 40% 43% 34% 32% 36% 29% 0% Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Communicati
Slide 13: Key Balance Sheet Items & Indices
Key Balance Sheet Items & Indices (unaudited) (NT$ Million) Dec. 31, 2019 Sept. 30, 2019 Cash and cash equivalent 60,131 61,220 Financial assets - current 4,893 6,583 Financial assets - non current & investments - equity method 15,663 15,076 Property, plant & equipment 232,093 226,302 Total assets 5
Slide 14: Pro Forma Equipment Capital Expenditure vs. EBITDA
Pro Forma Equipment Capital Expenditure vs. EBITDA2 (unaudited) US$ Million 800 738 705 685 681 647 558 582 600 537 444 436 457 383 400 327 290 248 239 200 0 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Capex EBITDA 2: Pro forma financial information has been prepared with the inclusion of SPIL’s
Slide 15: First Quarter 2020 Outlook
First Quarter 2020 Outlook* Based on our current business outlook and exchange rate assumptions, management projects overall performance for the first quarter of 2020 to be as follows: • In NTD terms, ATM 1st quarter 2020 business should be between 2nd and 3rd quarter 2019 levels; • ATM 1st quarter
Slide 16: Thank You
Thank You w w w. a s e g l o b a l . c o m 16
Slide 17: Appendix: Consolidated Statements of Comprehensive Income
Appendix 1 Consolidated Statements of Comprehensive Income (unaudited) (NT$ Thousands) Q1/2019 Q2/2019 Q3/2019 Q4/2019 FY/2019 Revenues 88,861,446 90,740,910 117,557,307 116,022,521 413,182,184 COGS 77,476,565 76,771,842 98,449,014 96,173,970 348,871,391 PPA under COGS 1,204,762 1,204,762 1,196,284
ASE Technology Holding — Q4 2019 Earnings Presentation on 6ix