15 slides from Integrated Micro-electronics's earnings presentation, Apr 11, 2024
Slide 1: IMI Analyst Briefing 2023 Full Year
IMI Analyst Briefing 2023 Full Year April 11, 2024 Online
Slide 2: Global Economic Outlook
Global Economic Outlook
Slide 3: Economic Growth Figures
Economic Growth Figures • Constant pace of growth worldwide • Europe forecasted to recover 3.1 3.1 3.2 growth in 2024 and 2025 1.7 • China will see slowdown of 0.9 0.5 growth after big recovery in WORLD Eurozone 2023 2024 2025 2023 • Inflation continues downward trend as supply-side issues unwind 1.
Slide 4: Automotive Market Outlook
Automotive Market Outlook • Automotive sector in 2024 will continue to be weighed down by slow consumer spending driven by elevated living costs • Electric Vehicles will remain as most buoyant part of the market with 2024 sales rising by 21% vs 3% for total passenger cars and 1% for commercial vehic
Slide 5: Industrial Market Outlook
Industrial Market Outlook • Industrial intelligent lighting controls market to grow at 14.5% CAGR until 2032. Innovations in IoT, AI and focus for energy efficiency are main factors driving growth • Energy management systems to expand at 8.3% / year, reaching $76B by 2034. Rising energy costs and re
Slide 6: Excess Inventory in Electronics Supply Chain
Excess Inventory in Electronics Supply Chain • Intense component shortage in 2022 led to aggressive stockpiling, resulting in bloated inventory levels in 2023 • Demand reduction in 2023 and beginning of 2024 as companies seek to trim down excess stock • Pockets of shortage remain while other sectors
Slide 7: Executive Summary
Executive Summary • Core business profitability improved through better material pricing and streamlined support costs. Although net loss affected by one-off transactions, 2023 GP margin improved to 9.1% and EBITDA totals to $47.3M • Geopolitical issues and general slowdown of global economy could p
Slide 8: Financials
Financials
Slide 9: 2023 Q4 Segment Updates
➢ Automotive: 2023 Q4 Segment Updates • Automotive focused European sites continue to recover revenue levels in 2023 +8.5% • New business wins totaling $161M which include automotive -0.6% steering, two-wheel EV assembly, and ADAS collision avoidance systems lower than 2022 • Steering application pr
Slide 10: 2023 Q4 Region Updates
2023 Q4 Region Updates ➢ Philippines: '22 Q4 '23 Q4 Y/Y% '22 FY '23 FY Y/Y% • Industrial customers continue to whittle down their finished goods stock, leading to reduced order volume until their inventories PH 82.9 66.6 -20% 327.2 279.6 -15% reach ideal levels CN 77.7 68.2 -12% 307.7 270.5 -12% • $
Slide 11: 2023 FY Group Program Wins
2023 FY Group Program Wins Win Location - 2023 19 12 132 106 19% 352 291 43% 201 174 31% 6% 2022 2023 Philippines China E. Europe MX Mobility Industrial Others *Wins in US$ of Annual Revenue Potential Win Location - 2022 Notable Wins in 2023 Steering System Mobility Mexico 18% Electric Motorcycle Mo
Slide 12: 2023 Q4 Performance (Non-GAAP)
2023 Q4 Performance (Non-GAAP) Revenue and Gross Profit Margin Operating Income 9.6% 10.1% 2.2% 7.8% 1.3% 420 11. 0% 8.5% 8.5% 1.0% 12.0 370 9.0 % -0.1% -0.4% 7.0 320 7.7 7.0 % 3.4 4.6 270 (0.4) (1.1) 2.0 5.0 % 220 '22Q4 '23Q1 '23Q2 '23Q3 '23Q4 170 3.0 % (3 .0) 120 1.0 % (8 .0) 356 347 345 341 293 7
Slide 13: Capital Structure
Capital StructureLong Term Long Term Debt Debt 21% 23% Common Common Equity Dec Equity Dec 44% 52% Short Term 2022 2023 Debt Short Term 27% Debt 33% Dec Dec Dec Dec (US$ Millions) Key Financial Ratios 2022 2023 2022 2023 Short-Term Debt 192.7 209.7 Current ratio 1.51 1.43 Long-Term Debt 150.4 146.7
Slide 14: Disciplined Capital Investments
Disciplined Capital Investments 31.0 27.3 5.9 12.2 21.2 $27.3M 18.7 4.8 3.8 2.2 7.7 2023 2.1 3.8 3.1 1.8 6.4 2.3 3.1 4.7 3.7 4.3 2.8 8.8 2.5 1.9 Buildings………....…..… .........4% Machinery………..….….........37% 3.3 2.4 3.7 Furn & Fix………...............……5% Constr. in progress….....…..51% 2020 2021 2022
Slide 15: connect with us
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