Solomon Systech (International) Ltd. · HKEX:2878
Solomon Systech (International) — FY2012 Earnings Presentation
20 slides from Solomon Systech (International)'s earnings presentation, Mar 20, 2013
Slide 1: SSIL 2012 Annual Results Announcement
-+ SSIL 2012 Annual Results Announcement 20 Mar 2013 P. 1
Slide 2: Table of Contents
Table of Contents Summary Financial Review Business Review Outlook SSIL 2012 Annual Results Announcement 20 Mar 2013 P. 2
Slide 3: Summary
Summary SSIL 2012 Annual Results Announcement 20 Mar 2013 P. 3
Slide 4: Results Summary
Results Summary Sales increased by about 26% to US$65.1 million Gross profit surged by about 60% to US$25.1 million Gross margin increased by around 8 percentage points to 38.6% Results from core businesses (including finance income from treasury function) amounted to US$5.9 million Net loss US$1.4
Slide 5: Financial Review
Financial Review SSIL 2012 Annual Results Announcement 20 Mar 2013 P. 5
Slide 6: Profit and loss
Profit and loss (US$ million) 2012 2011 YoY Sales 65.1 51.6 +26% Gross profit 25.1 15.8 +60% Gross margin 38.6% 30.5% +8pts Results from core 5.9 (15.6) businesses* Net loss (1.4) (17.6) -92% (HK cents) Basic loss per share (0.43) (5.6) -92% Dividends per share Nil Nil Book-to-bill ratio 1.07 0.97 *
Slide 7: Financial Remarks
Financial Remarks Key Factors Sales Blended ASP 22% up YoY US$65.1m Unit Shipments 3% up YoY Gross Profit US$25.1m 60% up YoY Results from • Gross margin 38.6% (‘11: 30.5%) Core Total Operating Expenses US$25.6m 15% down YoY Businesses* • R&D costs US$14.2m; 18% down YoY • S&D expenses US$3.1m; 13%
Slide 8: Balance Sheet
Balance Sheet As at 31 As at 31 YoY (US$ million) Dec 2012 Dec 2011 Total assets 131.0 126.5 +4% Total borrowings 0.6 0.7 -11% Shareholders’ funds 115.9 117.4 -1% Net cash 38.4* 72.1 -47% (HK cents) Shareholders’ funds per share 37 37 Net cash per share 12 23 * The change in cash position was due to
Slide 9: Net Cash Delta Analysis '12 vs '11
Net Cash Delta Analysis ’12 vs ’11 Net Cash @ 31st Dec: US$38.4m (’12) vs $72.1m (’11) Major Cash Outflow Treasury Investment - US$36.9m Loss & Working Capital Change - US$0.7m Addition of Fixed Assets - US$0.2m Major Cash Inflow Disposal of Subsidiary + US$1.9m Interest Received + US$1.6m SSIL 2012
Slide 10: Business Review
Business Review SSIL 2012 Annual Results Announcement 20 Mar 2013 P. 10
Slide 11: Blended Average Selling Price
Blended Average Selling Price 2012 blended ASP = US$0.63, up 22% YoY (’11: US$0.52) SSIL 2012 Annual Results Announcement 20 Mar 2013 P. 11
Slide 12: Unit Shipments by Product Line
Unit Shipments by Product Line Total unit shipments ~ over 100 million SSIL 2012 Annual Results Announcement 20 Mar 2013 P. 12
Slide 13: Outlook
Outlook SSIL 2012 Annual Results Announcement 20 Mar 2013 P. 13
Slide 14: Our Strategy
Our Strategy FORGE AHEAD For Steady Growth Continue to Focus on High Growth, High Volume Smart Product Applications Enhance Foundation & Core Competencies Reinforce Improve Field Boost Technology Sales & Marketing Support for Development & New Outreach Customers Product Introduction SSIL 2012 Annual
Slide 15: Highlights of Design-wins
Highlights of Design-wins Smartphones / Smart TVs / Smart Devices Tablets Projectors Smartphones Electronics Shelf Labels Smart Projectors Pico Projector Power Modules for Pocket Projector LED Lighting Mini Projector Spotlight Panel Tube Light Light Multimedia Education Tablets Projectors Other Smar
Slide 16: Outlook – Smartphones/Tablets
Outlook – Smartphones/Tablets Mobile Display High Resolution LCD Display Drivers • Mass production: HD720/WXGA TFT driver ICs • Launch metal oxide TFT drivers & in-cell touch display drivers Mobile System Touch Panel Controllers • Mass production: capacitive touch panel controllers • Launch more new
Slide 17: Outlook – Smart TV/Projectors
Outlook – Smart TV/Projectors Mobile System Smart Projectors • Promote new integrated solutions targeting China market and world leading customers Smart Display & Accessories • Develop products using 3D display technology targeting 3D camera applications Large Display Continuous engagement with curr
Slide 18: Outlook – Smart Devices
Outlook – Smart Devices Electronic Shelf Labels Advanced Display • Develop more display driver ICs for potential applications • Work with leading ESL makers to extend market reach geographically Green Power LED Lighting • Focus on high-quality, high-volume applications and customers • Ramp up mass p
Slide 19: Summary
Summary Exited 2012 with growth momentum behind us Cautiously optimistic – due to uncertainties: pace of US Overall economic recovery, euro area issues, high unemployment rate in developed economies Gross Profit Stay in line with industry Margin Continue monitoring & investing to boost focused produ
Slide 20: Thank You
Thank You Solomon Systech (International) Limited Stock code: 2878 www.solomon-systech.com
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