Solomon Systech (International) Ltd. · HKEX:2878
Solomon Systech (International) — H1 2013 Earnings Presentation
19 slides from Solomon Systech (International)'s earnings presentation, Aug 22, 2013
Slide 1: Interim Results Presentation 2013
SOLOMON SYSTECH Interim Results _ Presentation 2013
Slide 2: Table of Contents
Table of Contents Summary Financial Review Business Review Outlook SSIL 2013 Interim Results Announcement 22 Aug 2013 P. 2
Slide 3: Summary
Summary SSIL 2013 Interim Results Announcement 22 Aug 2013 P. 3
Slide 4: Results Summary
Results Summary Sales increased by 13% to US$31.1 million Gross profit increased from US$11.6 million to US$12.8 million Gross margin was 41.0% Results from core businesses returned to a profit of US$0.8 million (1H 2012 loss: US$1.4 million) Net profit was US$0.8 million (1H 2012 net loss: US$1.8 m
Slide 5: Financial Review
Financial Review SSIL 2013 Interim Results Announcement 22 Aug 2013 P. 5
Slide 6: Profit and Loss
Profit and Loss (US$ million) 1H13 1H12 YoY Sales 31.1 27.6 +13% Gross profit 12.8 11.6 +10% Gross margin 41.0% 42.2% Results from core 0.8 (1.4) businesses* Net profit / (loss) 0.8 (1.8) (HK cent) Earnings / (loss) per share 0.26 (0.58) Dividends per share Nil Nil Book-to-bill ratio 0.8 1.1 * The d
Slide 7: Financial Remarks
Financial Remarks Key Factors Sales Blended ASP 8% up YoY US$31.1m Unit Shipments 4% up YoY Gross Profit US$12.8m, 10% up YoY Results from • Gross margin 41.0% (‘12: 42.2%) core Total Operating Expenses US$12.5m, 4.7% down YoY businesses • R&D costs US$6.8m - 21.7% of sales US$0.8m • S&D expenses US
Slide 8: Balance Sheet
Balance Sheet As at 30 As at 31 YoY (US$ million) Jun 2013 Dec 2012 Change Total assets 128.6 131.0 -2% Total borrowings 0.5 0.6 -8% Shareholders’ funds 116.8 115.9 +1% Net cash 36.8 38.4 -4% (HK cents) Shareholders’ funds per share 37 37 Net cash per share 12 12 SSIL 2013 Interim Results Announceme
Slide 9: Net Cash Delta Analysis '13 vs '12
Net Cash Delta Analysis ’13 vs ’12 Net Cash @ 30th Jun: US$36.8m (’13) vs $38.4m (Dec ’12) Major Cash Outflow Treasury Investment - US$0.7m Net Profit and Working Capital Change - US$2.3m Addition of Fixed Assets - US$0.2m Major Cash Inflow Disposal of Fixed Assets + US$0.5m Interest Income + US$1.2
Slide 10: Business Review
Business Review SSIL 2013 Interim Results Announcement 22 Aug 2013 P. 10
Slide 11: Blended Average Selling Price
Blended Average Selling Price 1H13 blended ASP = US$0.65, up around 8% YoY SSIL 2013 Interim Results Announcement 22 Aug 2013 P. 11
Slide 12: Unit Shipments by Business Unit
Unit Shipments by Business Unit Total unit shipments of 1H 2013 ~48 million (1H 2012: ~46 million) SSIL 2013 Interim Results Announcement 22 Aug 2013 P. 12
Slide 13: Highlights of Design-wins
Highlights of Design-wins Smartphones/ Tablets Smart TVs Smart Devices Smartphones Smart Projector Electronic Shelf Labels 1,000 lumen Projector Power Modules for LED Lighting Smart TVs Tablets Other Smart Devices Healthcare Device Optical Viewfinder Smart Watch Security Baby Monitor Camcorder SSIL
Slide 14: Outlook
Outlook SSIL 2013 Interim Results Announcement 22 Aug 2013 P. 14
Slide 15: Outlook– Smartphones/Tablets
Outlook– Smartphones/Tablets Mobile Display High Resolution TFT LCD Display Driver ICs • Ramp up production: for HD720 & WXGA display • Develop new products: for FHD display HD TFT LCD Metal Oxide Display Driver ICs • Start mass production HD TFT LCD In-Cell Touch Display Driver ICs • Launch new pro
Slide 16: Outlook – Smart TVs
Outlook – Smart TVs Large Display Large TFT LCD Display Driver ICs • Continue to target China market • Align with Panda LCD’s business goals and plans • Develop more new products: target TVs and monitors Mobile System Multimedia Application Processors • Increase unit shipment & customer outreach tar
Slide 17: Outlook – Smart Devices
Outlook – Smart Devices Advanced Display Bistable Display Driver ICs • Increase unit shipments for leading ESL makers • Extend to new applications • Boost AMEPD business: capture rising needs to display complex information in high resolution PMOLED Display Driver ICs • Diversify applications: target
Slide 18: Summary
Summary More new products introduced: potentials for growth Remain vigilant: Overall • Slowly recovering global economy still faces uncertainty • Rapidly changing industry landscape • Customers cautious in placing long term orders Gross Profit Stay competitive and in line with industry: via introduc
Slide 19: Thank You
Thank You Solomon Systech (International) Limited Stock code: 2878 www.solomon-systech.com
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