CHROMA — Call Transcript 2024

Apr 30, 2024

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2024.1Q Earnings Conference Call

Paul Ying, CFO

30[th] April, 2024

1

Disclaimer

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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”, “continue”, “may”, “should”, “will”, and “would” or similar words. You should consider these forward-looking statements carefully because such statements are only our expectations or projections about future events, and actual results may differ materially from those expressed or implied by such statements. The forward-looking statements in this presentation include, but are not limited to, growth rates for various markets estimated by third party sources, future products and technology development, widespread market acceptance of the hosted delivery model, future revenue growth and profitability. You should be cautioned that the forward-looking statements are no guarantee of our future performance. The forward-looking statements contained in this presentation are made only as of the date of this presentation and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances, except as required by law.

This presentation and the information contained herein are the property of Chroma Ate Inc.

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Agenda

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•
Financial Review
•
Operation Highlights
•
Q&A
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FINANCIAL REVIEW

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Year 2024.1Q Condensed Consolidated Income Statement

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Condensed Consolidated P&L 2024.1Q % 2023.4Q % QoQ % 2023.1Q % YoY %
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	2024.1Q %	2024.1Q %
(In Million NTD, except for EPS in NTD)
Net Sales	4,418 100%	5,025 100% (12%) 4,388 100% 1%
Consolidated Sales of Testing Equipment Business	4,259 96%	4,913 98% (13%) 4,049 92% 5%
Consolidated Sales of MAS	86 2%	44 1% 95% 283 7% (70%)
Others	73 2%	68 1% 7% 56 1% 30%
Cost of Goods Sold	(1,852) (42%)	(2,446) (49%) (24%) (1,722) (39%) 8%
Gross Profit	2,566 58%	2,579 51% - 2,666 61% (4%)
Operating Expenses: General & Administration Research & Development	(1,181) (27%) (485) (11%)	(1,094) (22%) 8% (1,042) (24%) 13% (451) (9%) 8% (437) (10%) 11%
Operating Income	900 20%	1,034 20% (13%) 1,187 27% (24%)
Non-Operating Income (Expenses), net	319 7%	(16) - n/a 59 1% 441%
Income (Loss) Before Tax Income Tax	1,219 27% (243) (5%)	1,018 20% 20% 1,246 28% (2%) (193) (4%) 26% (283) (6%) (14%)
Net Income	976 22%	825 16% 18% 963 22% 1%
Net Income (Losses) Attributable To: Shareholders of the Parent Noncontrolling Interests	955 22% 21 -	799 16% 20% 937 21% 2% 26 - (19%) 26 1% (19%)
	$ 976 22%	$ 825 16% 18% $ 963 22% 1%
EPS (Basic)	$ 2.27	$ 1.89 20% $ 2.23 2%
EPS (Diluted)	$ 2.25	$ 1.87 20% $ 2.19 3%

2023.4Q currency exchange losses of 135m.

5

Balance Sheet Highlights & Financial Ratio

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Consolidated (In Million NTD)		2024. March	2023. Dec	+ / - %
Balance Sheet Highlights
Cash & Short Term Investments		5,423	4,794		13%
Inventory		4,756	4,675		2%
Short Term Debt		1,830	2,136	-	14%
Long Term Debt		1,135	990		15%
Shareholders Equity		20,936	22,517		- 7%
Total Assets		34,707	33,482		4%
Inventory Turnover (Day)		229	217
AR Turnover (Day)		96	87
AP Turnover (Day)		132	128
Net Debt to Equity (%)		Net Cash	Net Cash
ROE (%)		18%	18%
ROA (%)		11%	12%
Cash Position	2024.1Q	2023.1Q	YoY
EBITDA	1,420	1,433	-
Cash Flow from Operation	1,250	545	129%
Free Cash Flow	841	13	n/a

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All ROE + ROA has been annualized.

Free Cash Flow = Net Cash Provided by Operating Activities + (Net Cash used by Investing Activities)

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OPERATION

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HIGHLIGHT

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7

2024.1Q Product Mix and Consolidated Sales Breakdown

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(Unit: Million NTD)	2024.1Q % QoQ YoY	2023 %
Test Instruments & Automatic Testing System (ATS)	1,672 49% 11% (28%)	8,078 64%
Semiconductor / Photonics Test Solutions	1,193 35% 38% 207%	2,963 24%
Turnkey Solutions	273 8% 60% 279%	454 4%
Service & Others	255 8% (30%) 12%	1,035 8%
Total of Parent Company Sales (TW)	3,393 100% 17% 13%	12,530 100%
+ Sales from Overseas Operations & Related Subsidiaries Chroma Consolidated Testing Equipment Business MAS Other Subsidiaries	866 (57%) (16%) 4,259 96% (13%) 5% 86 2% 95% (70%) 73 2% 7% 30%	5,257 17,787 92% 658 4% 231 1%
Consolidated Sales	4,418 100% (12%) 1%	18,676 97%

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8

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Thank You

9 Copyright © 2023 Chroma ATE Inc. All rights reserved.