Slide 1: WIN Semiconductors 2Q2021 Investor Conference
WIN Semiconductors 2Q2021 Investor Conference July 2021 WIN Semiconductors Confidential
Slide 2: Safe Harbor Notice
Safe Harbor Notice This presentation contains certain forward-looking statements that are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Except as
Slide 3: Quarterly Results & Guidance
QUARTERLY RESULTS & GUIDANCE WIN Semiconductors Confidential 3
Slide 4: Revenue & Margin Trend
Revenue & Margin Trend 2Q21 revenue was NT$6.2b, up 3% QoQ and up 2% YoY. In 2Q21, driven by changes in the product mix, gross margin increased by 2.2 pp sequentially to 35.7% and operating margin increased by 2.8 pp to 22.7%. NT$M Quarterly revenue trend Quarterly margin trend 7,000 50% 70% 45%
Slide 5: Earnings Trend
Earnings Trend 2Q21 net profit was NT$930m, down 15% QoQ and down 44% YoY, mainly due to the appreciation of TWD against USD. EPS came in at NT$2.32, compared to NT$2.72 in 1Q21. Earnings & growth trend NT$ EPS NT$M 2,500 1000% 5.00 4.50 800% 2,000 4.00 600% 3.50 1,500 3.00 400% 2.50 1,000 200% 2.
Slide 6: FCF & Gearing Trend
FCF & Gearing Trend In 2Q21, as our capex increased, we had a net outflow of free cash flow. In 2Q21, both our interest-bearing debts and gearing ratio were maintained at the level of the previous quarter, and our financial structure remained healthy. NT$M Free cashflow NT$M Interest-bearing deb
Slide 7: Product Mix
Product Mix 2Q20 Others* 13% Wi-Fi 15-20% 2Q21 Cellular Others* 45-50% 14% Infra. 20-25% Wi-Fi 10-15% 1Q21 Others* Cellular 19% 50-55% Infra. 15-20% Wi-Fi 15-20% Cellular 45-50% * Others: Revenue not attributable to main product segments and additional Infra. revenue being consolidated in accordance
Slide 8: 3Q21 Guidance
3Q21 Guidance We expect 3Q21 revenue to grow by high-single digit QoQ. We expect 3Q21 gross margin to be around the level of mid-thirties. WIN Semiconductors Confidential 8
Slide 9: Financial Summary
FINANCIAL SUMMARY WIN Semiconductors Confidential 9
Slide 10: Consolidated Statements of Comprehensive Income - Quarterly
Consolidated Statements of Comprehensive Income - Quarterly 2Q'21 Unit: NTD Million 2Q'20 1Q'21 QoQ YoY (unaudited) Net revenue 6,048 6,009 6,195 +3% +2% Gross profit 2,707 2,012 2,212 +10% -18% Gross margin (%) 44.8% 33.5% 35.7% Operating expenses (674) (816) (803) -2% +19% Operating expenses rate
Slide 11: Consolidated Statements of Comprehensive Income - YTD
Consolidated Statements of Comprehensive Income - YTD 2021H1 Unit: NTD Million 2020H1 YoY (unaudited) Net revenue 12,119 12,204 +1% Gross profit 5,318 4,224 -21% Gross margin (%) 43.9% 34.6% Operating expenses (1,347) (1,619) +20% Operating expenses rate (%) -11% -13% Operating income 3,971 2,605 -3
Slide 12: Non-operating Items
Non-operating Items 2Q'21 2021H1 Unit: NTD Million 2Q'20 2020H1 (unaudited) (unaudited) Foreign exchange gains (losses) (65) (348) (1.8) (157) Gains (losses) on disposals of property, plant and equipment 0.3 0.7 (1) (5) Gains on financial assets (liabilities) at fair value through profit or loss, ne
Slide 13: Consolidated Balance Sheets
Consolidated Balance Sheets 2021/6/30 2020/6/30 2021/3/31 (Unit: NTD Million) Major Item (unaudited) $ % $ % $ % Cash and cash equivalents 6,159 13% 22,334 32% 19,899 27% Current financial assets at fair value through profit or loss 1,033 2% 896 1% 258 0.4% Notes and accounts receivable, net 2,318 5
Slide 14: Q&A
Q&A For more information regarding WIN www.winfoudry.com For all inquiries, suggestions, and comments ir@winfoundry.com WIN Semiconductors Confidential 14