GCS Holdings, Inc. · TPEX:4991
GCS — Q4 2015 Earnings Presentation
21 slides from GCS's earnings presentation, Mar 3, 2016
Slide 1: Q4 2015 Quarterly Online Investor Conference
環宇 芯系天下 March 3, 2016 Q4 2015 Quarterly Online Investor Conference (線上法說會) March 3, 2016
Slide 2: Disclaimer Statement
Disclaimer Statement This presentation includes forward-looking statements. All statements, other than statements of historical facts, that address activities, events or developments that GCS Holdings, Inc. expects or anticipates will or may occur in the future (including but not limited to projecti
Slide 3: Agenda
Agenda Opening: Brian Ann, CEO & President Financial Section: Grace Li, Director & Special Assistant to CEO Market Overview: Simon Yu, Senior VP and General Manager, Worldwide Sales & Marketing and Component Business Q&A: All 2
Slide 4: Financial Section
FINANCIAL SECTION 3
Slide 5: Statements of Comprehensive Income - QoQ
Statements of Comprehensive Income - QoQ (in NT$ thousands except EPS) 4Q15 4Q15 4Q15 3Q15 4Q14 Over Over 3Q15 4Q14 Net Operating Revenue 472,018 424,594 391,241 11% 21% Gross Profit 230,871 180,754 166,492 28% 39% Gross Margin 49% 43% 43% Operating Expenses (117,614) (98,139) (94,680) 20% 24% Opera
Slide 6: Statements of Comprehensive Income – YoY
Statements of Comprehensive Income – YoY (in NT$ thousands except EPS) 2015 2014 % % Change (%) Jan to Dec Jan to Dec Net Operating Revenue 1,659,943 100% 1,352,899 100% 22.7% Gross Profit 704,179 42% 542,338 40% 29.8% Operating Income 302,737 18% 177,689 13% 70.4% Non-operating items (10,645) -1% (
Slide 7: Balance Sheet Highlight & Key Indices
Balance Sheet Highlight & Key Indices Selected Items from Balance Sheet (in NT$ thousands) 2015/12/31 2014/12/31 Amount % Amount % Cash and Cash Equivalent 1,237,513 49% 527,385 37% Accounts Receivable 205,006 8% 190,655 13% Inventory 331,800 12% 271,490 19% Available-for-Sale Financial Assets 52,47
Slide 8: Cash Flows
Cash Flows (in NT$ thousands) 2015 2014 Jan to Dec Jan to Dec Beginning Balance 527,385 291,914 Cash from Operating Activities 384,504 61,556 Acquisition of available-for-sale financial assets (49,647) - Acquisition of property, plant and equipment (327,708) (50,233) Proceeds from Long-term loans 15
Slide 9: Revenue Product Mix % - QoQ
Revenue Product Mix % - QoQ 2015 — gs3Qst—“‘(;”*”*éS 2015 2Q 2015 3Q 2015 4Q
Slide 10: Revenue Product Mix % - YoY
Revenue Product Mix % - YoY 2015 2014
Slide 11: Revenue Mix (USD) vs Gross Margin
Revenue Mix (USD) vs Gross Margin 10
Slide 12: Trend of Operating Margin
Trend of Operating Margin 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2014 | 2014 | 2014 | 2014 , 2015 | 2015 | 2015 | 2015 @amm Operating Income ——Operating Margin 30% 25% 20% 15% 10% 5% 0% 11
Slide 13: Trend of Net Profit Margin
Trend of Net Profit Margin 26% 17% 1Q 2014 2Q 3Q 4Q 1Q 2Q 3Q 2014 | 2014 | 2014 | 2015 | 2015 | 2015 Mam Net Income —— Net Profit Margin 4Q 2015 12
Slide 14: Market Overview
MARKET OVERVIEW 13
Slide 15: Applications & Markets
Applications & Markets RF & Power Electronics Optoelectronics PD, APD, VCSEL, FP/DFB LD, RFIC、HEMT、pHEMT、HBT, Photonic Integrated Circuits, InP HBT, GaN/Si、GaN/SiC、SiC… 2D Image Sensors …… Power Data Consumer/ Fiber Optical Wireless & Telecoms Network Electronics Centers IoT Base WiFi Aerospace HEV.
Slide 16: Optoelectronic Market
Optoelectronic Market 環宇芯 TO-CAN TOSA/ROSA Transceiver /BOSA Source: Lightcounting 2013 Captive: Chip/OSA/Transceiver 2013 2014 2015 (~70%) Avago, Finisar, JDSU, WTD, HG (Selected Markets for GCS) Optics, NeoPhotonics, Source Worldwide Total 283 388 513 Photonics, Hisense Accessible Chip (Archcom/
Slide 17: Optoelectronic Market (cont.) – Opto Foundry
Optoelectronic Market (cont.) GCS targets to become world’s Brand Name KGD premier optoelectronic chip supplier Pure-play chip supplier with high volume production capacity to service, not compete, with customers Majority of the capacity is using 2”- 4” wafers with many underutilized Wide prod
Slide 18: GaAs RF Market
GaAs RF Market 5G & 802.11AC will drive Further growth Apple And Cisco Believe The 2.4GHz WiFi Band Is Unreliable And Everyone Should Opt For 5GHz Instead - doesn’t interfere with everyday appliances and devices 17
Slide 19: GaAs RF Market
GaAs RF Market 2013 2014 % of Change Worldwide Semiconductor Revenue $306B $336B +10% Given high volume platform, Worldwide Semiconductor GCS is well positioned to $34.6B $42.8B +9% Foundry Revenue drive a viable III-V wafer % of Total 14% 14% +0% foundry industry: $5,903 $7,516 A strong R&D tea
Slide 20: Power Electronics Market
Power Electronics Market GCS has both GaN-based and SiC-based Technologies In-place. 19
Slide 21: For further inquiry
環宇芯系天下 For further inquiry [email protected] 20