Innolux Corp. · TWSE:3481
Innolux — Q1 2013 Earnings Presentation
17 slides from Innolux's earnings presentation, May 2013
Slide 1: 1Q 2013 Earning Results
1Q 2013 Earning Results May 2013
Slide 2: Disclaimer
Disclaimer Innolux Corporation’s statements of its current expectations and estimates are forward-looking statements subject to significant known and unknown risks and uncertainties and actual results may differ materially from those contained or implied in the forward looking statements. These forw
Slide 3: 1Q 2013 Combined Income Statement - QoQ
1Q 2013 Combined Income Statement - QoQ (NT$ million) 1Q 2013 4Q 2012 QoQ % 1Q 2012 Net Sales 116,775 100.0% 129,603 100.0% -9.9% 109,236 100.0% Cost of Goods Sold 107,734 92.3% 120,143 92.7% -10.3% 116,060 106.2% Gross Profit 9,041 7.7% 9,460 7.3% -4.4% (6,824) -6.2% Operating Expenses 5,748 4.9% 6
Slide 4: Operating Income and EBITDA Trends
Operating Income and EBITDA Trends Operating Income (Loss) EBITDA & EBITDA Margin (NT$ billion) (NT$ billion) Margin (%) 3.1 3.3 18.4% 20.7% 23.9 24.0 14.6% -2.2 18.9 12.7% 14.3 -7.7 9.1% 10.0 -12.1 1Q12 2Q12 3Q12 4Q12 1Q13 1Q12 2Q12 3Q12 4Q12 1Q13 Note: 1. EBITDA = Operating Income + Depreciation &
Slide 5: Revenue, Gross Margin, EBITDA Margin, and EPS Trends
Revenue, Gross Margin, EBITDA Margin, and EPS Trends Revenue(1) 5 Panel System EBITDA Margin Gross Margin EPS(NT$) (NT$Bn) -0.51 -0.43 0.19 3000 -1.78 -1.75 -1.35 -2.36 -2.73 20.7% 18.4% 12.7% 14.6% (5) 10.0% 9.1% 7.3% 7.7% 4.3% 4.4% 3.3% (10) -1.7% 200 -5.4% -6.2% -9.9% -8.2% (15) 124.7 130.4 129.6
Slide 6: 1Q 2013 Combined Balance Sheet Highlights
1Q 2013 Combined Balance Sheet Highlights (NT$ million) 2013.3.31 2012.12.31 2012.3.31 Cash & Short Term Investment 40,780 39,056 58,255 Inventory 45,161 42,035 60,986 Total Assets 557,659 573,125 643,862 Short Term Debt (1) 100,413 117,183 113,663 Long Term Debt (2) 142,744 152,100 215,495 Sharehol
Slide 7: Total Debt and Debt Ratios
Total Debt and Debt Ratios Total Debt(1) Total Debt Debt to Equity Net Debt to Equity (NT$Bn) 500 186.3% 179.5% 165.4% 164.4% 158.8% 157.7% 148.9% 153.2% 147.7% 400 135.1% 134.3% 134.8% 131.9% 127.8% 118.0% 106.4% 300 345.1 344.3 324.5 329.2 324.1 200 288.0 269.3 243.2 100 2Q11 3Q11 4Q11 1Q12 2Q12 3
Slide 8: Inventory Trend
Inventory Trend Net Inventory(2) Turnover (1) (NT$Bn) Net Inventory Inventory Turnover (Days) 120 60 49 47 49 45 90 41 41 45 37 35 60 30 68.8 65.8 30 59.5 61.0 61.1 15 50.3 45.2 42.0 0 0 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Notes: 1. Inventory turnover days = 365 / (annualized cost of goods sold
Slide 9: Large-size Unit Shipments and ASP Trends
Large-size Unit Shipments and ASP Trends Shipment(2) Unit ASP (1)(2) Panel System ASP (Million) (US$) 80 120 95 90 89 87 89 90 86 84 60 90 40.7 37.0 38.4 40 35.8 35.4 35.3 60 32.4 32.4 20 30 0 0 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Notes: 1. Exchange rate based on the prevailing market rate at th
Slide 10: Small & Medium-Size Unit Shipments and Sales Trends
Small & Medium-Size Unit Shipments and Sales Trends Shipment (2) Revenue (1) (Million) Shipment Revenue (NT$ Billion) 34.2 40 30.8 180 28.0 25.9 27.7 25.6 30 23.4 21.3 150 20 120 110 115 114 10 108 108 95 90 95 0 90 60 30 0 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Notes: All figures are unaudited, pr
Slide 11: Touch Module and Sensor Shipment by Application
Touch Module and Sensor Shipment by Application Shipment (1) Small & Medium Mobile PC (Million) 25 23.3 20 18.4 17.1 17.6 15.4 15.5 15 10.5 9.8 10 5 0 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Notes: All figures are unaudited, prepared by Innolux Corporation. Starting 2013, Innolux Corporation prepare
Slide 12: Sales Breakdown by Application
Sales Breakdown by Application TV Desktop Mobile PC Small & Medium Others 100% 3% 2% 2% 4% 5% 2% 4% 2% 19% 23% 19% 20% 21% 21% 26% 24% 80% 9% 12% 13% 16% 14% 18% 10% 11% 60% 30% 19% 19% 28% 25% 24% 18% 28% 40% 20% 39% 39% 43% 42% 41% 35% 34% 36% 0% 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Notes: All
Slide 13: Sales Breakdown by Size
Sales Breakdown by Size 40”+ 30 to <40” 20 to <30” 10 to <20” <10” 100% 20% 23% 25% 27% 30% 28% 27% 31% 80% 23% 21% 20% 17% 19% 19% 60% 18% 16% 27% 23% 21% 19% 19% 40% 27% 25% 27% 17% 16% 16% 15% 20% 15% 11% 12% 14% 15% 15% 15% 14% 16% 19% 19% 19% 0% 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Notes: Al
Slide 14: Q&A
Q&A
Slide 15: Consolidated Balance Sheet (Assets)
群 創 光 電 股 份 有 限 公 司 及 子 公 司 合 併 資 產 負 債 表 (僅經核閱，未依一般公認審計準則查核) 單位：新台幣仟元 102 年 3 月 31 日 101 年 12 月 31 日 101 年 3 月 31 日 1 0 1 年 1 月 1 日 資 產 附註 金 額 % 金 額 % 金 額 % 金 額 % 流動資產 1100 現金及約當現金 六(一) $ 42,652,394 8 $ 40,897,977 7 $ 39,556,003 6 $ 53,718,219 8 1110 透過損益按公允價值衡量之金融資產－流動 六(二) 627,959 - 68,248 - 108,
Slide 16: Consolidated Balance Sheet (Liabilities and Equity)
群 創 光 電 股 份 有 限 公 司 及 子 公 司 合 併 資 產 負 債 表 (僅經核閱，未依一般公認審計準則查核) 單位：新台幣仟元 102 年 3 月 31 日 101 年 12 月 31 日 101 年 3 月 31 日 1 0 1 年 1 月 1 日 負債及權益 附註 金 額 % 金 額 % 金 額 % 金 額 % 非流動負債 2500 透過損益按公允價值衡量之金融負債－非流動 六(二) - - 289 - - - - - 2510 避險之衍生金融負債－非流動 六(五) 50,984 - 391,630 - 744,997 - 736,952 - 2530 應付公司債 六(十五)
Slide 17: Consolidated Statement of Comprehensive Income
群 創 光 電 股 份 有 限 公 司 及 子 公 司 合 併 綜 合 損 益 表 (僅經核閱，未依一般公認審計準則查核) 單位：新台幣仟元 (除每股盈餘(虧損)為新台幣元外) 1 0 2 年 1 至 3 月 1 0 1 年 1 至 3 月 項目 附註 金 額 % 金 額 % 4000 營業收入 六(二十四)及七 $ 116,847,723 100 $ 113,146,234 100 5000 營業成本 六(七)(二十八) 及七 ( 107,836,876) ( 92) ( 119,916,280) ( 106) 5900 營業毛利(毛損) 9,010,847 8 ( 6,770,046) (