Wt Microelectronics Co., Ltd. · TWSE:3036

Wt Microelectronics — Q3 2023 Earnings Presentation

16 slides from Wt Microelectronics's earnings presentation, Oct 5, 2023

  1. Slide 1: 2023 Third Quarter Investor Conference

    2023 Third Quarter Investor Conference October 5, 2023

  2. Slide 2: 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

  3. Slide 3: Agenda

    Agenda 1. Overview 2. Financial Update 3. Business Outlook 4. Questions and Answers 3

  4. Slide 4: 1. Overview

    1. Overview A leading Asian semiconductor distributor (72% of global market) NT$571B 10K+ 80+ • Founded in 1993 • Y2022 NR 28% Headquartered in TWN Customers Product Lines YoY • Listed in 2000 (ticker: 3036 TT) • Top 5% Governance ranking for three consecutive years (TWSE) • Taiwan High Salary 100 I

  5. Slide 5: 3Q23 Statement of Comprehensive Income

    2. Financial Update 3Q23 Statement of Comprehensive Income Unit: NT$M 3Q23 2Q23 3Q22 Key accounts QoQ YoY Amount Amount Amount Net Operating revenues 167,260 117,460 42% 155,669 7% Gross profit 5,061 4,206 20% 4,959 2% Gross margin 3.03% 3.58% 3.19% Operating expenses (2,802) (2,165) 29% (2,038) 37%

  6. Slide 6: 1Q-3Q23 Statement of Comprehensive Income

    2. Financial Update 1Q-3Q23 Statement of Comprehensive Income Unit: NT$M YTD23 YTD22 Key accounts YoY Amount Amount Net Operating revenues 404,823 413,733 -2% Gross profit 13,410 14,843 -10% Gross margin 3.31% 3.59% Operating expenses (7,127) (5,688) 25% Operating profit 6,283 9,155 -31% Operating m

  7. Slide 7: Balance Sheet

    2. Financial Update Balance Sheet Unit: NT$M 3Q23 2Q23 3Q22 Key accounts Amount % Amount % Amount % Cash and cash equivalents 6,546 3 6,127 3 7,982 4 Accounts receivable 101,212 44 67,872 35 98,343 43 Inventory 93,599 41 93,837 49 101,858 45 Other current assets 5,346 3 4,145 2 3,136 1 Non-current a

  8. Slide 8: Revenue, margins, OPEX and EPS trends

    2. Financial Update Unit: NT$M Revenue vs GPM OP vs OPM Revenue GPM OP OPM 180,000 4.5% 3,500 3.0% 3.65% 3.80% 3.86% 2.47% 160,000 3.58% 4.0% 3,000 2.28% 2.36% 3.45% 2.5% 140,000 3.19% 3.17% 3.5% 3.03% 2,500 120,000 1.88% 1.67% 1.74% 2.0% 3.0% 1.65% 100,000 2,000 1.35% 167,260 2.5% 1.5% 80,000 155,6

  9. Slide 9: Operating Cash Cycle

    2. Financial Update Operating Cash Cycle AR INV AP Operating cash cycle 80 72 70 67 59 60 60 60 52 50 50 40 40 71 74 30 58 58 60 59 54 57 57 55 54 57 57 53 52 51 53 51 53 51 53 53 49 46 20 10 0 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 9

  10. Slide 10: ROWC vs. NWC/Sales

    2. Financial Update ROWC vs. NWC/Sales NWC/Sales ROWC 0.25 0.20 16.3% 16.2% 0.15 13.7% 13.3% 11.0% 10.8% 10.4% 0.10 8.6% 0.05 0.00 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 10

  11. Slide 11: ROE vs. Equity

    2. Financial Update ROE vs. Equity Unit: NT$M Equity attributable to owners of the parent ROE 62,000 20% 18% 16.3% 60,000 15.9% 15.7% 14.9% 16% 14% 58,000 12% 56,000 10% 8.4% 8.7% 8% 6.7% 59,108 61,168 54,000 57,960 6% 55,875 56,508 5.1% 4% 52,000 54,500 54,105 53,768 2% 50,000 0% 4Q21 1Q22 2Q22 3Q2

  12. Slide 12: 3. Business Outlook

    3. Business Outlook We currently expect 4Q23 :  At a forecast exchange rate of 32.2 NT Dollars to 1 US Dollar Unit: NT$M 4Q23 3Q23 Item Forecast Amount Revenue 170,000 ~ 180,000 167,260 Gross Profit 4,930 ~ 5,580 5,061 Gross Margin 2.90% ~ 3.10% 3.03% Operating Expenses 2,465 ~ 2,615 2,802 Operatin

  13. Slide 13: 3. Business Outlook: WT Revenue Trend and World Semi Forecast

    3. Business Outlook WT continues gaining market share by targeting faster growth and higher margin sectors and successful M&As and integration WT Revenue Trend US$ Billion 2022: 20% YoY 25 19.17 20 15.99 15 11.95 10.84 9.07 10 6.22 4.47 5 0 2016 2017 2018 2019 2020 2021 2022 2023F 2024F 2025F 2026F

  14. Slide 14: 3Q23 Revenue Breakdown by Application

    3. Business Outlook 3Q23 Revenue Breakdown by Application QoQ – 2Q23 (Left) vs. 3Q23 (Right) 100% 6.8% 60 9.1% 7.1% +57% Revenue (NT$B) 50 +143% 10.4% 8.6% 40 13.6% 30 80% +15% 12.4% 20 -9% +38% +15% 52% Star +10% 15.8% Application 10 15.4% 0 60% 14.2% 23.7% 13.9% 8.5% 10.0% 9.7% 40% 10.8% 19% Quali

  15. Slide 15: Q&A WT Microelectronics

    Q&A WT Microelectronics Website : www.wtmec.com The BEST Distribution Partner

  16. Slide 16: Thank You!

    Thank You! WT Microelectronics Website : www.wtmec.com The BEST Distribution Partner

WT Microelectronics — Q3 2023 Earnings Presentation on 6ix