Wt Microelectronics Co., Ltd. · TWSE:3036

Wt Microelectronics — Q4 2022 Earnings Presentation

17 slides from Wt Microelectronics's earnings presentation, Feb 23, 2023

  1. Slide 1: 2022 Fourth Quarter Investor Conference

    2022 Fourth Quarter Investor Conference February 23, 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 (74% of global market) NT$571B 10K+ 80+ • Y2022 NR 28% Founded in 1993 Customers Product Lines YoY • Headquartered in TWN • Listed in 2000 (ticker: 3036 TT) • Top 5% Governance (TWSE) • Taiwan High Salary 100 Index (TWSE) 3,400+ #52 / #5 29B+ • T

  5. Slide 5: 4Q22 Statement of Comprehensive Income

    2. Financial Update 4Q22 Statement of Comprehensive Income Unit: NT$M 4Q22 3Q22 4Q21 Y2022 Y2021 Key accounts QoQ YoY YoY Amount Amount Amount Amount Amount Net Operating revenues 157,464 155,669 1% 129,049 22% 571,197 447,896 28% Gross profit 4,989 4,959 1% 4,706 6% 19,832 16,986 17% Gross margin 3

  6. Slide 6: Balance Sheet

    2. Financial Update Balance Sheet Unit: NT$M 4Q22 3Q22 4Q21 Key accounts Amount % Amount % Amount % Cash and cash equivalents 5,383 3 7,982 4 4,680 3 Accounts receivable 84,568 42 98,343 43 75,462 44 Inventory 90,547 45 101,858 45 66,524 38 Other current assets 3,152 2 3,136 1 2,470 1 Non-current as

  7. Slide 7: Revenue, Operating Profit, OPEX and EPS Trends

    2. Financial Update Unit: NT$M Revenue vs GPM OP vs OPM Revenue GPM OP OPM 180,000 4.12% 4.5% 3,500 2.63% 3.0% 3.87% 3.80% 3.86% 2.47% 160,000 3.55% 3.65% 4.0% 3,000 2.45% 2.36% 2.28% 2.5% 140,000 3.19% 3.17% 2.06% 3.5% 2,500 1.88% 120,000 1.67% 2.0% 3.0% 100,000 2,000 2.5% 1.5% 80,000 155,669 157,4

  8. Slide 8: Operating Cash Cycle

    2. Financial Update Operating Cash Cycle AR INV AP Operating cash cycle 70 59 60 60 60 53 52 50 51 50 50 40 30 58 56 57 57 55 57 54 53 53 54 54 51 49 50 49 52 51 53 51 53 51 48 48 45 20 10 0 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 8

  9. Slide 9: ROWC vs. NWC/Sales

    2. Financial Update ROWC vs. NWC/Sales NWC/Sales ROWC 0.20 0.18 17.1% 17.1% 16.3% 16.2% 0.16 14.0% 13.7% 0.14 0.12 11.0% 10.8% 0.10 0.08 0.06 0.04 0.02 0.00 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 9

  10. Slide 10: ROE vs. Equity

    2. Financial Update ROE vs. Equity Unit: NT$M Equity attributable to owners of the parent ROE 70,000 20% 19.0% 16.9% 18% 60,000 16.3% 15.9% 15.7% 16% 14.9% 50,000 14% 13.0% 12% 40,000 8.4% 10% 30,000 57,960 55,875 8% 53,768 54,500 54,105 47,235 47,246 49,685 20,000 6% 4% 10,000 2% - 0% 1Q21 2Q21 3Q2

  11. Slide 11: 1Q23 Forecast

    3. Business Outlook We currently expect 1Q23 :  At a forecast exchange rate of 30.3 NT Dollars to 1 US Dollar Unit: NT$M 1Q23 4Q22 Item Forecast Amount Revenue 112,000 ~ 120,000 157,464 Gross Profit 3,976 ~ 4,500 4,989 Gross Margin 3.55% ~ 3.75% 3.17% Operating Expenses 2,073 ~ 2,217 2,361 Operatin

  12. Slide 12: WT Revenue Trend and World Semi Revenue 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

  13. Slide 13: Global Semiconductor Market Forecast by Equipment Category

    3. Business Outlook Global Semiconductor Market Forecast by Electronic Equipment Category (US$ Billion) Semiconductor Market 754 2022-26F semiconductor segment 602 110 revenue CAGR 65 99 53 Automotive: +14.0% 72 45 115 77 Industrial: +8.1% 80 71 154 Communication: +4.3% 133 138 142 Datacenter an

  14. Slide 14: 4Q22 Revenue Breakdown by Application

    3. Business Outlook 4Q22 Revenue Breakdown by Application 3Q22 (Left) vs. 4Q22 (Right) QoQ +8% 60 100% Revenue (NT$B) 5.6% 5.5% 5.5% 5.7% 6.1% 7.0% 6.8% 7.3% 50 40 11.7% 13.8% 11.6% 9.9% 11.6% 11.7% 10.4% 10.8% QoQ -6% QoQ -11% 30 QoQ +5% QoQ -1% 20 QoQ +8% QoQ -1% 80% 45% Star 14.9% 10 17.8% 17.4%

  15. Slide 15: 2022 Revenue Breakdown by Application

    3. Business Outlook 2022 Revenue Breakdown by Application 100% 5.6% 6.8% 11.6% 11.1% 200 2021 (Left) vs. 2022 (Right) 80% YoY +21% 48% Star 180 16.8% 16.9% Application 160 Revenue (NT$B) 140 60% 8.8% 13.4% 120 10.1% YoY +28% 8.7% 100 YoY +95% 21% Quality 80 YoY +7% 40% 14.3% YoY +22% 12.0% Business

  16. Slide 16: Q&A WT Microelectronics

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

  17. Slide 17: Thank You!

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

WT Microelectronics — Q4 2022 Earnings Presentation on 6ix