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ENNOSTAR — Call Transcript 2022
Nov 3, 2022
52376_rns_2022-11-03_67cf443c-30b2-40ac-8da7-e96685760f31.pdf
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ENNOSTAR Inc.(3714.TW) Third Quarter 2022 Results Investor Conference
Nov. 4, 2022
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Safe Harbor Notice
This presentation may contain forward-looking statements. These forward-looking are subject to risks, uncertainties and other factors. Consequently, actual results could differ materially from those reflected in these forward-looking statements.
The factors include the impact of competitive products and pricing, timely acceptance of products design by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand, market oversupply, availability of manufacturing capacity, financial stability in end markets, potential difficulties in talents retention, unexpected costs and expenses, any merger and acquisition associated uncertainties such as obtaining of regulatory approval or integration delay, loss of significant customers, involvement in legal or administrative proceedings, new regulations that may impact our business operation, fluctuations in foreign exchange rates, global economic conditions or non-economic conditions and any other risks factors.
Except as imposed by law, we undertake no obligation to publicly revise or update these forward-looking statements, whether as a result of new information, future events or otherwise.
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Consolidated Statements of Comprehensive Income
| 3Q22 Net Revenue 6,684 EPISTAR 4,768 LEXTAR 1,823 Gross Margin 13.1% Operating Expenses 1,337 Operating Margin (6.5%) Net Non-Operating Items (106) Net Income Attributable to Parent Company (358) Net Profit Margin (5.4%) Basic EPS (NT Dollar) (0.48) EBITDA% 13.1%* in NT$ millions |
2Q22 7,781 5,555 2,137 22.8% 1,504 3.7% 58 389 5.0% 0.57 20.2% |
3Q21 10,329 7,240 3,089 24.8% 1,539 10.2% 178 1,296 12.6% 1.91 23.2% |
QoQ -14.1% -14.2% -14.7% -9.7% -11.1% -10.2% -283.0% -192.0% -10.4% (1.05) -7.1% |
YoY |
|---|---|---|---|---|
| -35.3% -34.1% -41.0% -11.7% -13.1% -16.7% -159.7% -127.6% -18.0% (2.39) -10.1% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
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Consolidated Statements of Comprehensive Income
| 2022 9 months Net Revenue 23,011 EPISTAR 16,529 LEXTAR 6,299 Gross Margin 19.6% Operating Expenses 4,199 Operating Margin 1.7% Net Non-Operating Items 125 Net Income Attributable to Parent Company 790 Net Profit Margin 3.4% Basic EPS (NT Dollar) 1.12 EBITDA% 18.7%* in NT$ millions |
2021 9 months 26,572 18,583 7,989 21.2% 4,398 5.1% 248 1,737 6.5% 2.56 19.9% |
YoY |
|---|---|---|
| -13.4% -11.1% -21.2% -1.6% -4.5% -3.4% -49.4% -54.5% -3.1% (1.44) -1.2% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
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– Statements of Comprehensive Income Epistar
| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
3Q22 4,768 13.5% 780 (2.3%) 20.6% |
2Q22 5,555 27.0% 859 12.0% 31.2% |
3Q21 7,240 26.8% 938 14.3% 30.7% |
QoQ -14.2% -13.5% -9.2% -14.3% -10.6% |
YoY |
|---|---|---|---|---|---|
| -34.1% -13.3% -16.9% -16.6% -10.1% |
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| YoY -11.1% -0.8% -11.7% -1.0% +0.7% |
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| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
2022 9 months 16,529 21.6% 2,512 6.8% 27.1% |
2021 9 months 18,583 22.4% 2,845 7.8% 26.4% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
** Unikorn has not been consolidated into Epistar since the second quarter of 2022 because of the group reorganization.
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– Revenue by Application Epistar
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Statements of Comprehensive Income – Lextar
| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
3Q22 1,823 18.5% 452 (6.3%) 1.9% |
2Q22 2,137 16.8% 497 (6.4%) 0.8% |
3Q21 3,089 20.2% 465 5.2% 11.1% |
QoQ -14.7% +1.7% -9.1% +0.1% +1.1% |
YoY |
|---|---|---|---|---|---|
| -41.0% -1.7% -2.9% -11.5% -9.2% |
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| YoY -21.2% -0.2% +3.4% -5.4% -5.5% |
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| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
2022 9 months 6,299 18.2% 1,385 (3.8%) 3.4% |
2021 9 months 7,989 18.4% 1,340 1.6% 8.9% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
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– Revenue by Application Lextar
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Consolidated Balance Sheets & Key Indices
| in NT$ millions Cash & Cash Equivalent Accounts Receivable Inventories Long-term Investments Net PP&E Total Assets Short-term Debt Long-term Debt Total Liabilities Total Equity Inventory Turnover Days Current Ratio Net Cash |
Amount % 15,106 20.1% 11,270 15.0% 5,472 7.3% 3,839 5.1% 22,711 30.2% 75,110 100.0% 769 1.0% 4,076 5.4% 17,525 23.3% 57,586 76.7% 90 3.2 10,261 3Q22 |
Amount % 12,621 17.1% 12,346 16.7% 5,935 8.0% 3,913 5.3% 23,117 31.3% 73,943 100.0% 1,328 1.8% 4,119 5.6% 20,057 27.1% 53,886 72.9% 89 2.5 7,174 2Q22 |
3Q21 |
|---|---|---|---|
| Amount % 11,332 14.5% 14,084 18.0% 5,808 7.4% 2,663 3.4% 24,462 31.3% 78,120 100.0% 4,855 6.2% 3,977 5.1% 24,084 30.8% 54,036 69.2% 62 2.1 2,500 |
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Consolidated Cash Flows
| From Operating Activities Profit before Tax Depreciation & Amortization Net Change in Working Capital From Investing Activities Capital Expenditure From Financing Activities Net Change in Loans Cash Capital Increase Cash Dividends Net Change in Cash Ending Balance in NT$ millions |
3Q22 1,890 (543) 1,314 1,166 (1,337) (932) 1,583 (632) 3,627 (1,366) 2,485 15,106 |
2Q22 2,254 348 1,286 576 (1,319) (1,214) (1,518) (1,582) 0 0 (112) 12,621 |
3Q21 |
|---|---|---|---|
| 2,072 1,234 1,343 (527) 44 (898) 2,804 2,273 0 0 4,850 11,332 |
- The data of 2021 above excludes the effect of initial consolidation of subsidiaries, which is NT$ 3,764 million.
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Confidential Security P Ⓒ 2021 Ennostar Inc. All Rights Reserved.
Consolidated Cash Flows
| From Operating Activities Profit before Tax Depreciation & Amortization Net Change in Working Capital From Investing Activities Capital Expenditure From Financing Activities Net Change in Loans Cash Capital Increase Cash Dividends Net Change in Cash Ending Balance in NT$ millions |
2022 9 months 5,876 508 3,913 1,432 (3,979) (3,079) 26 (2,809) 3,627 (1,366) 2,770 15,106 |
2021 9 months |
|---|---|---|
| 1,237 1,610 3,928 (4,520) (3,404) (3,716) 4,625 3,965 0 0 2,341 11,332 |
- The data of 2021 above excludes the effect of initial consolidation of subsidiaries, which is NT$ 3,764 million.
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Q&A
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Thank You https://www.ennostar.com
Confidential Security P Ⓒ 2021 Ennostar Inc. All Rights Reserved.