Wt Microelectronics Co., Ltd. · TWSE:3036
Wt Microelectronics — Q3 2021 Earnings Presentation
19 slides from Wt Microelectronics's earnings presentation, Nov 5, 2021
Slide 1: 2021 Third Quarter Investor Conference
2021 Third Quarter Investor Conference November 5, 2021
Slide 2: Agenda
Agenda 1. Overview 2. Financial Update 3. Business Outlook 4. Questions and Answers 2
Slide 3: Safe Harbor Statement
Safe Harbor Statement WT’s forward-looking statements, which may include statements regarding its results of operations, financial condition or business prospects, are subject to significant risks and uncertainties and are based on WT’s current expectations. Actual results may differ materially
Slide 4: 1. Overview
1. Overview A leading Asian semiconductor distributor, founded in 1993 and listed in 2000 (ticker: 3036 TT), providing supply chain management such as capital flow, information flow, inventory, and technical support Sophisticated frameworks in Asia (total 45 offices in China, Taiwan, Korea, and
Slide 5: World Semi Revenue Forecast
1. Overview World Semi Revenue Forecast: Strong Growth Continues to Break 600B Milestone in 2022 Billions of Dollars and Revenue Growth CAGR (2021-25): 8.0% 700 6.2% 8.9% 3.8% $684 650 CAGR (2016-20): 6.8% -3.7% 26.9% $644 $644 600 $620 $591 550 500 12.9% 10.4% 450 21.9% $476 -11.3% $466 400 $422 $4
Slide 6: Worldwide Non-Memory Semi Revenue Forecast
1. Overview Worldwide Non-Memory Semi Revenue Forecast: Strong Growth Continues to Break 400B Milestone in 2021 Billions of Dollars and Revenue Growth CAGR (2021-25): 7.3% 500 3.0% 3.9% 2.6% $486 450 4.6% $472 CAGR (2016-20): 5.9% 23.7% $454 $442 400 $423 350 9.3% 7.5% -0.2% $342 300 10.0% $313 $313
Slide 7: NR (Net Revenue)
1. Overview NR (Net Revenue) NT$B 2021F YoY: 24% 500 CAGR(2016-20): 25% 438 400 335 353 300 273 189 200 144 88 108 114 64 71 80 100 21 30 34 39 41 47 5 9 10 14 0 US$B CAGR(2016-20): 27% 2021F YoY: 31% 20 15.62 15 11.95 10.84 9.07 10 6.22 4.47 5 2.01 2.41 2.72 2.96 3.56 3.58 1.29 1.44 0.17 0.25 0.30
Slide 8: Statement of Comprehensive Income
2. Financial Update Statement of Comprehensive Income Unit: NT$M 3Q21 2Q21 3Q20 Key accounts QoQ YoY Amount % Amount % Amount % Net Operating revenues 119,105 100.00% 102,096 100.00% 17% 91,862 100.00% 30% Gross profit 4,612 3.87% 4,203 4.12% 10% 2,761 3.01% 67% Operating expenses (1,696) -1.42% (1,
Slide 9: Statement of Comprehensive Income YTD
2. Financial Update Statement of Comprehensive Income Unit: NT$M YTD 2021 YTD 2020 Key accounts YoY Amount % Amount % Net Operating revenues 318,847 100.00% 244,062 100.00% 31% Gross profit 12,280 3.85% 7,743 3.17% 59% Operating expenses (4,663) -1.45% (3,995) -1.63% 17% Operating income 7,617 2.39%
Slide 10: Balance Sheet
2. Financial Update Balance Sheet Unit: NT$M 3Q21 2Q21 3Q20 Key accounts Amount % Amount % Amount % Cash and cash equivalents 4,364 3 5,062 4 4,675 4 Accounts receivable 75,437 44 61,920 44 49,840 42 Inventory 65,811 39 53,985 38 41,881 36 Other current assets 2,409 1 2,134 1 2,388 2 Non-current ass
Slide 11: NR by Geography (Ship-to Destination)
2. Financial Update NR by Geography (Ship-to Destination) 0.6% 0.7% 1.0% 1.3% 1.5% 1.5% 1.5% 1.5% 100 QoQ +14% 100% 90 2Q21 3.3% 2.9% 6.6% 6.3% 6.2% 5.4% 8.2% 80 (Left) Revenue (NT$B) 2.2% 9.9% 11.4% 5.6% 3.6% 2.8% 2.0% 70 4.6% 2.9% vs. 8.0% 6.4% 2.7% 3.0% 60 8.4% 6.9% 3Q21 7.6% 50 (Right) 80% 7.3%
Slide 12: NR by Customer Base
2. Financial Update NR by Customer Base 80 QoQ +23% 100.0% 2.3% 3.0% 3.0% 2Q21 4.7% 4.2% 4.5% 6.0% 7.4% 70 3.3% 2.4% 2.3% (Left) 4.1% 3.1% 2.9% 3.4% 3.6% 60 vs. Revenue (NT$B) 3Q21 22.9% 50 80.0% 26.7% 26.6% (Right) 27.8% 31.7% 40 QoQ +0% 31.8% 34.4% 29.6% 30 20 60.0% QoQ +44% 10 QoQ +24% 0 Taiwan C
Slide 13: NR by Application
2. Financial Update NR by Application 50 2Q21 100.0% 2.6% 3.1% 3.2% 3.0% 2.7% 2.5% 3.1% 2.9% 5.0% 5.1% QoQ +37% (Left) 5.3% 5.7% 5.3% 6.4% 6.4% 6.7% 40 Revenue (NT$B) vs. 7.4% 6.7% 6.5% 8.5% 7.9% 8.3% 9.9% 8.6% 30 QoQ +3% 3Q21 80.0% 10.4% QoQ +25% (Right) 12.1% 13.0% 14.1% 13.6% 12.8% 11.9% 20 QoQ +
Slide 14: ROE vs. EPS
2. Financial Update ROE vs. EPS EPS 3.00 19.0% 20% ROE% 16.9% 2.50 15% 13.0% 2.00 12.3% 12.0% 11.7% 10.7% 10.8% 1.50 10% 1.00 5% 0.50 1.21 1.04 1.07 1.46 1.57 1.92 2.54 2.85 0.00 0% 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 14
Slide 15: ROWC vs. NWC/Sales
2. Financial Update ROWC vs. NWC/Sales 0.25 NWC/Sales 20% ROWC 17.1% 17.1% 0.20 14.0% 15% 12.1% 12.5% 0.15 12.2% 10.1% 10% 0.10 8.1% 5% 0.05 0.12 0.18 0.16 0.13 0.12 0.15 0.15 0.14 0.00 0% 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 15
Slide 16: Operating Cash Cycle
2. Financial Update Operating Cash Cycle 90 AR INV AP Operating cash cycle 64 60 60 53 50 51 46 42 40 30 0 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 16
Slide 17: 3. Business Outlook
3. Business Outlook We currently expect 4Q21 : Revenue : between NT$116 billion ~ NT$122 billion, at a forecast exchange rate of 27.9 NT Dollars to 1 US Dollar Revenue mid-point guidance: flattish QoQ and 9% YoY growth Gross profit margin : between 3.65% ~ 3.85% Operating profit margin : bet
Slide 18: Questions and Answers
nswers
Slide 19: Thank You!
Thank You ! WT Microelectronics Co., Ltd. Website : www.wtmec.com 19