Chroma Ate Inc. · TWSE:2360
Chroma Ate — Q1 2011 Earnings Presentation
26 slides from Chroma Ate's earnings presentation, Apr 26, 2011
Slide 1: CHROMA ATE INC. 1Q.2011 Investor Conference
Your Testing Quality is Our Commitment. CHROMA ATE INC. 2011 1Q.2011 Investor Conference Paul Ying, CFO 26th April, 2011 1
Slide 2: Disclaimer
Disclaimer This presentation contains some forward-looking statements that are subject to substantial risks and uncertainties. Typically, these statements contain words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “plan”, “forecast”, “project”, “predict”, “potential”, “c
Slide 3: Agenda
AGENDA • Corporate Profile • Quarterly Highlights • Financial Review • Operation Highlights • Q&A 3
Slide 4: Corporate Profile
CORPORATE PROFILE lest toz aiutos, Sroviders
Slide 5: Corporate Profile
Corporate Profile Sales Revenues R&D Expenses • Founded in 1984, a world leading own brand R&D Expenses in % of Sales Revenues turnkey test & automation solution provider, 5,640 Parent Only specialized in electronics test and measurement instruments and system. Products cover test and measurement in
Slide 6: Financial Performance
Financial Performance Consolidated Sales Revenues EPS Net Profit Gross Margin Parent Only Sales Revenues Parent Only Operating Margin 60.1% 59.4% 1,812 14,886 53.9% 1,538 50.6% 1,010 1,105 54.9% 12,630 12,228 10,914 863 5.22 5.05 * Unit: EPS in NTD Unit: Million NTD Unit: Million NTD 33.4% * Unit:%
Slide 7: Financial Performance: ROE and Dividend
Financial Performance Dividend ROE Cash dividend Parent Only Parent Only 5.22 Stock dividend 25.87 5.05 * 19.47 17.74 3.80 17.70 3.64 3.60 13.81 3.38 * Unit: NTD Unit: % 2.45 2.50 * 2.00 2.00 0.60 0.50 0.40 0.30 0.40 * 2006 * 2007 2008 2009 2010 2006 2007 2008 2009 2010 * 2006 – 2007 ROE adjusted, a
Slide 8: Chroma Global Network
Chroma Global Network Global Employees1,490, Branch Offices x15, Distributors x47 US : Irvine / Hong Kong : Neworld Lake Forest CA. Europe : Netherlands / Finland Japan: Shin Yokohama China : Shenzhen / Dongguan / Xiamen / Suzhou Nanjing / Shanghai / Beijing / Sichuan 8
Slide 9: Product Mix
Product Mix A Turnkey Test and Automation Solution Provider Power Power Electronics Electronics 36.0% Customized Customized 39.0% System System 1.3% 1.5% Services & Others 6.1% Services & * Others Passiv e Passive 14.4% * Component Component 8.6% 7.4% Solar 2.8% Solar 17.8% Vide o Color Video Color
Slide 10: Quarterly Highlights, Financial Review
QUARTERLY HIGHLIGHTS FINANCIAL REVIEW 10
Slide 11: Quarterly Highlights
Quarterly Highlights Sales Revenues Gross Margin 1Q’ 2011 Key Points Operating Margin 1,752 • Sales Revenue: NT$ 1,465 million, 1,500 1,465 up 21% QoQ, up 25% YoY 58% 55% 54% 1,214 • Gross Margin: 50% 1,174 53% Unit: % of Sales Revenue 50% • Operating Margin: 26% Unit: Million NTD • Net Income: NT$
Slide 12: 1Q'2011 Income Statement (QoQ / YoY Comparison)
1Q’ 2011 Income Statement (QoQ / YoY Comparison) Parent Only 1Q’ 2011 % 4Q’ 2010 % QoQ 1Q’ 2010 % YoY (Unit: Million NTD, except for EPS in NTD) % % Net Sales 1,465 100.0% 1,214 100.0% 21% 1,174 100.0% 25% Cost of Goods Sold (740) (50.5%) (577) (47.5%) 28% (533) (45.4%) 39% Gross Profit 725 49.5% 63
Slide 13: 1Q'2011 Income Statement (Consolidated)
1Q’ 2011 Income Statement (Consolidated) Consolidated 1Q’ 2011 % 1Q’ 2010 % YoY (Unit: Million NTD, except for EPS in NTD) % Net Sales 3,443 100.0% 3,306 100.0% 4% Cost of Goods Sold (2,486) (72.2%) (2.445) (74.0%) 2% Gross Profit 957 27.8% 861 26.0% 11% Operating Expenses: General & Administration
Slide 14: Balance Sheet Highlights & Financial Ratio
Balance Sheet Highlights & Financial Ratio Parent Only (Unit: Million NTD) Mar. 2011 Dec. 2010 +/-% Balance Sheet Highlights Cash & Short Term Investment 938 665 + 41% Inventory 1,511 1,367 + 11% Short Term Debt 0 200 N/M Long Term Debt - - - Shareholders Equity 7,970 7,558 + 5% Total Assets 9,972 9
Slide 15: Operation Highlight
OPERATION HIGHLIGHT lest toz aiutos, Sroviders
Slide 16: Sales Breakdown By Testing Solution
Sales Breakdown By Testing Solution (Unit: Million NTD) 1Q’2011 % 4Q’2010 % QoQ 1Q’2010 % YoY Power Electronics 549 37.5% 503 41.4% 9% 463 39.4% 19% Testing Component Testing 94 6.4% 99 8.2% (5%) 80 6.8% 18% Video Color Testing 54 3.7% 22 1.8% 145% 55 4.7% - LCM Testing 42 2.9% 50 4.1% (16%) 118 10.
Slide 17: Sales Breakdown By Industries
Sales Breakdown By Industries Innovation, Integration Capability, Market Penetration Unit: Sales in million NTD / % of Sales $ 4,208 $ 4,158 $ 3,444 $ 5,640 $ 1,465 4% 5% 17% 31% 41% 47% 48% 40% 44% 40% * Clean Technology included solar, LED, battery cell formation and EV OEM business. 17
Slide 18: Year 2011.2Q Guidance
Year 2011.2Q Guidance Year 2011.1Q sales revenues was mainly contributed from solar ( YoY 160%) and LED ( YoY 144%) businesses. Moving into peak season, expected clean technology sectors continue to drive the sales revenues growth. Strengthen clean technology sectors development in pursuit of expand
Slide 19: Clean Technology Test Solutions
Clean Technology Test Solutions Energy Saving • LED • Smart Grid Green Energy Transportation Clean • Photovoltaic • Electrical Vehicle • Li-Battery T ec h no lo g y • Electric Scooter • Fuel Cells • Power Battery Pack • Wind Power • Electro propulsion • Biomass • Geothermal • Stirling engines • Smal
Slide 20: Power Electronics Testing for PV & LED
Power Electronics Testing for PV & LED PV Inverter Testing New LED Power Driver Testing New Patent 20
Slide 21: Photovoltaic Test & Automation Solutions
Photovoltaic Test & Automation Solutions 3730 Solar Cell Inspection Test/Sorting System New Patent New Patent Patent Patent New 21
Slide 22: LED Test & Automation Solutions
LED Test & Automation Solutions 58182 LED Light Bar Test System Patent 58187 2D CCD LED Light Bar Test System Patent New New Patent New New LED Wafer/Chip LED Package LED Module New LED Mapping Sorter LED Light Bar Electrical Test System (4” => 7.6”) 22
Slide 23: LED Lighting Test Solutions
LED Lighting Test Solutions LED Application: LED Optical & AC/DC Electrical Test New Optical Power Optical Spectrum 58158 LED Lighting AC/DC Test System Light-Decay Test Burn-in Test • Multi-channels and individual • Programmable AC source measurement • Multi-channels and • Real-time measurement ind
Slide 24: Total Automated Solution for Battery Formation
Total Automated Solution for Battery Formation 17930 Battery Cell Grouping Equipment 17000 Battery Formation System Patent New Battery Types: Cylindrical Cell Rectangular Cell Pouch Cell 24
Slide 25: Electrical Vehicle Test Solution
Electrical Vehicle Test Solution New New New PEU/Controller ATS DC-DC Converter ATS Charger ATS New Battery Pack ATS Charger Electrical Safety Tester EVSE ATS (2011.4Q) 25
Slide 26: Thank You - www.chromaate.com
www.chromaate.com The World for You & for Me… Thank You! 26