Solomon Systech (International) Ltd. · HKEX:2878
Solomon Systech (International) — FY2009 Earnings Presentation
19 slides from Solomon Systech (International)'s earnings presentation, Apr 20, 2010
Slide 1: Solomon Systech (International) Limited 2009 Annual Results Announcement
Solomon Systech (International) Limited 2009 Annual Results Announcement 20 April 2010 Hong Kong
Slide 2: Table of contents
Table of contents ` Summary ` Financial Review ` Business Review ` Outlook SSIL 2010 Annual Results Announcement 20Apr2010 P. 2
Slide 3: Summary
Summary SSIL 2009 Annual Results Announcement 20Apr2010 P. 3
Slide 4: Results summary
Results summary ` Unit shipment 93 mu ` Sales US$61.8 million ` Net profit US$0.7 million ` Book to Bill ratio close to 1.0 ` Basic earnings per share 0.2 HK cent ` Proposed final dividend per share 1 HK cent SSIL 2010 Annual Results Announcement 20Apr2010 P. 4
Slide 5: Financial Review
Financial Review SSIL 2009 Annual Results Announcement 20Apr2010 P. 5
Slide 6: Profit and loss
Profit and loss Twelve months ended 31 Dec YoY (US$ million) 2009 2008 Change Sales 61.8 92.8 (33%) Gross profit 20.4 16.9 21% Gross margin 33.0% 18.2% Net profit/(loss) 0.7 (23.4) Net margin 1.1% (25.2%) (HK cents) Earnings/(Loss) per share 0.2 (7.5) Dividend per share 1.0 3.0 Book to Bill ratio 1.
Slide 7: Financial Remark
Financial Remark Key Factors Sales 33% Unit shipment 19% YoY Blended ASP 18% YoY Net profit Gross profit 21% YoY -- Turnaround to -- Gross profit margin 33.0% (‘08: 18.2%) US$0.7m Operating expenses 27% YoY from’08 Net loss -- Lowered SG&A 28% YoY and R&D 26% YoY US$23.4m Other Financial Income -- U
Slide 8: Profit and loss delta analysis '09 vs '08
Profit and loss delta analysis ’09 vs ‘08 US$23.4m X ‘08 Net Loss US$ 3.5m z Gross Profit Increase US$10.4m z Operating Expense Reduction US$ 8.5m z Unrealized Gain in Financial Assets US$ 3.3m z Investment Loss Reduction US$ 2.5m z Interest Income Decrease US$ 0.9m z Tax Refund US$ 0.7m X ’09 Net P
Slide 9: Balance sheet
Balance sheet As at 31 As at 31 YoY (US$ million) Dec 2009 Dec 2008 Change Total assets 150.2 162.3 (7%) Total borrowings 0.8 Nil N/A Shareholders’ funds 135.8 143.8 (6%) Net cash 92.9 110.9 (16%) (HK cents) Shareholders’ funds per share 43 46 (7%) Net cash per share 29 35 (17%) SSIL 2010 Annual Res
Slide 10: Net cash delta analysis '09 vs '08
Net cash delta analysis ’09 vs ‘08 ` Net Cash @ 31st Dec: ` US$92.8m (’09) vs $110.9m (‘08) - US$18.1m ` Major Cash Outflow ` Business Operating Activities - US$10.1m ` Dividend Payout - US$ 9.5m ` Strategic Investment (Net) - US$ 0.4m ` Plant, Property & Equipment - US$ 1.0m ` Major Cash Inflow ` B
Slide 11: Business Review
Business Review SSIL 2009 Annual Results Announcement 20Apr2010 P. 11
Slide 12: Blended average selling price
Blended average selling price ` 2009 blended ASP = US$0.67, down 18% YoY 0.95 10% 1 0.9 5% Blended Unit ASP (US$) 0.81 0.8 0.67 0% Blended ASP Change 0.7 1H07 2H07 1H08 2H08 1H09 2H09 0.6 -5% 0.5 HoH -10% 0.4 YoY 0.3 -15% 0.2 -20% 0.1 0 -25% 2007 2008 2009 -30% SSIL 2010 Annual Results Announcement
Slide 13: Unit shipment by product line
Unit shipment by product line ` Total unit shipment 93 million units Mobile Display Advanced Display Display System Mobile Display Advanced Display Display System Green Pow er Others Green Pow er Others 200 100% 173 180 Unit shipment distribution 160 80% IC unit shipment (mu) 140 115 120 60% 93 100
Slide 14: Examples of 2009 design-wins
Examples of 2009 design-wins New Customers, New Products, New Applications Mobile Display Advanced Display Messaging Phone Mobile TV Photo Printer MP3 USB Bank Key Electronic Shelf Label Display System Green Power LED Indoor / Outdoor Lighting Mobile Phone Pico-projector SSIL 2010 Annual Results Ann
Slide 15: Outlook
Outlook SSIL 2009 Annual Results Announcement 20Apr2010 P. 15
Slide 16: 2010 Outlook
2010 Outlook ` Sales ` Expect increase in market demand ` Gain new business from China based customers ` 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 sh
Slide 17: Business Plan
Business Plan ` Display IC Mobile Display ` Increase driver IC business from integrated panel / module makers and new high-end applications Multi-touch applications ` Start volume shipment of multi-touch panel controller Advanced Display ` Extend PMOLED leadership to health care products / industria
Slide 18: Business Plan
Business Plan ` System Solutions Display System Solution ` Generate volume shipment via Pico-projector and Mobile TV design-wins ` Refine multimedia solutions to cover a wide range of applications, with time-to-market and cost benefits Green Power Pico-projector ` Accelerate growth in LED street lam
Slide 19: Thank You
Thank You Solomon Systech (International) Limited Stock code: 2878 www.solomon-systech.com SSIL 2009 Annual Results Announcement 20Apr2010 P. 19
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