Solomon Systech (International) Ltd. · HKEX:2878
Solomon Systech (International) — H1 2010 Earnings Presentation
18 slides from Solomon Systech (International)'s earnings presentation, Aug 18, 2010
Slide 1: SSIL 2010 Interim Results Announcement
18 August 2010 Hong Kong SSIL 2010 Interim Results Announcement 18Aug2010 P. 1
Slide 2: Table of contents
Table of contents ` Summary ` Financial Review ` Business Review ` Outlook SSIL 2010 Interim Results Announcement 18Aug2010 P. 2
Slide 3: Summary
Summary SSIL 2010 Interim Results Announcement 18Aug2010 P. 3
Slide 4: Results summary
Results summary ` Unit shipment up 71% to 69 million units ` Sales grew by 42% to US$38.0 million ` Gross profit grew by 51% to US$11.2 million ` Net Loss US$3.9 million ` Loss in respect of the principal business was US$2.9 million, reduced by 49% ` Basic loss per share 1.24 HK cents ` No interim d
Slide 5: Financial Review
Financial Review SSIL 2010 Interim Results Announcement 18Aug2010 P. 5
Slide 6: Profit and loss
Profit and loss (US$ million) 1H10 1H09 YoY Sales 38.0 26.7 42% Gross profit 11.2 7.4 51% Gross profit margin 29.5% 27.9% 1.6% pt Loss in respect of 2.9 5.7 (49%) principal business Net loss 3.9 2.3 70% Net margin (10.4%) (8.7%) (HK cents) Loss per share 1.24 0.75 66% Dividends per share Nil Nil Boo
Slide 7: Profit and loss delta analysis 1H10 vs 1H09
Profit and loss delta analysis 1H10 vs 1H09 US$2.33m X 1H09 Net Loss US$3.77m z Gross Profit Increase with Sales Increase US$0.91m z Operating Expense Increase US$3.57m z Financial Assets Gain Decrease US$0.75m z Interest Income Decrease US$1.11m z Strategic Investment Loss Decrease US$1.26m z Tax R
Slide 8: Balance sheet
Balance sheet As at 30 As at 31 HoH (US$ million) Jun 2010 Dec 2009 Change Total assets 147.5 150.2 (2%) Total borrowings 0.8 0.8 0% Shareholders’ funds 129.1 135.8 (5%) Net cash 78.3 92.8 (16%) (HK cents) Shareholders’ funds per share 41 43 (5%) Net cash per share 25 29 (14%) SSIL 2010 Interim Resu
Slide 9: Net cash delta analysis Jun vs Dec
Net cash delta analysis Jun 10 vs Dec 09 ` Net Cash @ : ` US$78.3m (30 Jun 10) vs $92.8m (31 Dec 09) ` Major Cash Outflow ` ’10 Interim Net Loss - US$ 3.9m ` Working Capital Change - US$ 2.9m ` Plant, Property & Equipment - US$ 2.8m ` Financial Assets Net Increase - US$ 2.7m ` Dividend Payout - US$
Slide 10: Business Review
Business Review SSIL 2010 Interim Results Announcement 18Aug2010 P. 10
Slide 11: Blended average selling price
Blended average selling price ` 1H10 blended ASP = US$0.56, down 15% YoY HoH YoY 1.00 0.83 10% Blended Unit ASP (US$) 0.66 Blended ASP Change 0% 0.56 1H08 2H08 1H09 2H09 1H10 0.50 -10% -20% 0.00 1H08 1H09 1H10 -30% SSIL 2010 Interim Results Announcement 18Aug2010 P. 11
Slide 12: Unit shipment by product line
Unit shipment by product line ` Total unit shipment 69 million units Mobile Display Advanced Display Display System Green Pow er Mobile Display Advanced Display Display System Green Power 80.0 100% 69 90% 70.0 Unit shipment distribution 61 80% 60.0 IC unit shipment (mu) 70% 50.0 60% 41 40.0 50% 40%
Slide 13: Examples of 1H10 design-wins
Examples of 1H10 design-wins New Customers, New Products, New Applications Mobile Display Advanced Display Personal Android Phone Mobile Internet Navigation Device Mobile Phone USB Bank Key Price Tag with Touch Panel Device Display System Green Power LED Indoor LED Street LED Backlight Lamp Lamp Uni
Slide 14: Outlook
Outlook SSIL 2010 Interim Results Announcement 18Aug2010 P. 14
Slide 15: 2H 2010 Outlook
2H 2010 Outlook ` Sales ` Expect sales continue to grow with higher visibility for 2H 2010 ` Anticipate growth in diversified business ` Gross profit margin ` Stay in line with industry ` Operating expenses ` Continue monitoring ` Invest in focused R&D projects ` Challenges ` Capacity shortage and c
Slide 16: Business Plan
Business Plan ` Display IC Mobile Display ` Increase driver IC business from integrated panel / module makers and new high resolution applications Multi-touch applications ` Start volume shipment of multi-touch panel controller Advanced Display ` Extend PMOLED leadership to AMOLED and OLED Lighting
Slide 17: Business Plan
Business Plan ` System Solutions Display System Solution ` Increase sales of multimedia ICs (MagusCoreTM) via pico-projector design-wins ` Extend multimedia solutions to cover Android-based applications, with time-to-market and cost benefits Green Power Android Mobile Internet Device ` Generate volu
Slide 18: Thank You
Thank You Solomon Systech (International) Limited Stock code: 2878 www.solomon-systech.com SSIL 2010 Interim Results Announcement 18Aug2010 P. 18
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