AI assistant
ENNOSTAR — Call Transcript 2022
Aug 23, 2022
52376_rns_2022-08-23_ce19f637-fb0f-489f-b160-9ed6a4b3e5fe.pdf
Call Transcript
Open in viewerOpens in your device viewer
==> picture [157 x 28] intentionally omitted <==
==> picture [523 x 22] intentionally omitted <==
ENNOSTAR Inc.(3714.TW) Second Quarter 2022 Results Investor Conference
AUG. 5, 2022
Confidential Security P
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
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.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P Ⓒ 2021 Ennostar Inc. All Rights Reserved.
2
Consolidated Statements of Comprehensive Income
| 2Q22 Net Revenue 7,781 EPISTAR 5,555 LEXTAR 2,137 Gross Margin 22.8% Operating Expenses 1,504 Operating Margin 3.7% Net Non-Operating Items 58 Net Income Attributable to Parent Company 389 Net Profit Margin 5.0% Basic EPS (NT Dollar) 0.57 EBITDA% 20.2%* in NT$ millions |
1Q22 8,546 6,206 2,339 21.8% 1,358 6.2% 174 759 8.9% 1.11 21.6% |
2Q21 9,365 6,780 2,585 22.8% 1,536 6.8% 85 700 7.5% 1.03 20.9% |
QoQ -9.0% -10.5% -8.6% +1.0% +10.7% -2.5% -66.5% -48.8% -3.9% (0.54) -1.4% |
YoY |
|---|---|---|---|---|
| -16.9% -18.1% -17.3% +0.0% -2.1% -3.1% -31.5% -44.5% -2.5% (0.46) -0.7% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
3
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
Consolidated Statements of Comprehensive Income
| 1H22 Net Revenue 16,327 EPISTAR 11,761 LEXTAR 4,476 Gross Margin 22.3% Operating Expenses 2,862 Operating Margin 5.0% Net Non-Operating Items 232 Net Income Attributable to Parent Company 1,148 Net Profit Margin 7.0% Basic EPS (NT Dollar) 1.68 EBITDA% 20.9%* in NT$ millions |
1H21 16,244 11,343 4,901 18.9% 2,859 1.9% 70 440 2.7% 0.65 17.8% |
YoY |
|---|---|---|
| +0.5% +3.7% -8.7% +3.4% +0.1% +3.1% +231.6% +160.7% +4.3% 1.03 +3.1% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
4
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
– Statements of Comprehensive Income Epistar
| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
2Q22 5,555 27.0% 859 12.0% 31.2% |
1Q22 6,206 22.9% 874 9.3% 28.3% |
2Q21 6,780 24.4% 1,008 10.1% 27.4% |
QoQ -10.5% +4.1% -1.8% +2.7% +2.9% |
YoY |
|---|---|---|---|---|---|
| -18.1% +2.6% -14.8% +1.9% +3.8% |
|||||
| YoY +3.7% +5.2% -9.2% +6.8% +6.1% |
|||||
| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
1H22 11,761 24.8% 1,733 10.5% 29.7% |
1H21 11,343 19.6% 1,907 3.7% 23.6% |
-
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.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
5
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
– Revenue by Application Epistar
==> picture [632 x 324] intentionally omitted <==
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
6
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
Statements of Comprehensive Income – Lextar
| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
2Q22 2,137 16.8% 497 (6.4%) 0.8% |
1Q22 2,339 19.2% 437 0.6% 7.1% |
2Q21 2,585 18.5% 467 0.4% 7.8% |
QoQ -8.6% -2.4% +13.7% -7.0% -6.3% |
YoY |
|---|---|---|---|---|---|
| -17.3% -1.7% +6.3% -6.9% -7.0% |
|||||
| YoY -8.7% +0.9% +6.8% -2.2% -3.3% |
|||||
| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
1H22 4,476 18.1% 934 (2.8%) 4.1% |
1H21 4,901 17.2% 875 (0.6%) 7.4% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
7
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
– Revenue by Application Lextar
==> picture [634 x 325] intentionally omitted <==
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
8
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
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 % 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 |
Amount % 12,733 16.7% 13,563 17.8% 5,831 7.7% 3,976 5.2% 23,233 30.6% 76,023 100.0% 2,872 3.8% 3,915 5.2% 21,989 28.9% 54,034 71.1% 79 2.2 5,946 1Q22 |
2Q21 |
|---|---|---|---|
| Amount % |
|||
| 6,482 8.9% 13,101 17.9% 5,853 8.0% 1,870 2.6% 24,827 33.9% 73,225 100.0% 2,642 3.6% 3,917 5.3% 21,106 28.8% 52,118 71.2% 67 2.1 (77) |
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
9
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
Consolidated Cash Flows
| 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 Net Change in Cash Ending Balance in NT$ millions |
2Q22 2,254 348 1,286 576 (1,319) (1,214) (1,518) (1,582) (112) 12,621 |
1Q22 1,732 704 1,313 (309) (1,324) (933) (38) (594) 397 12,733 |
2Q21 |
| (203) 720 1,323 (2,419) (775) (1,082) 578 736 (618) 6,482 |
- The data of 2021 above excludes the effect of initial consolidation of subsidiaries, which is NT$ 3,764 million.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
10
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
Consolidated Cash Flows
| 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 Net Change in Cash Ending Balance in NT$ millions |
1H22 3,986 1,051 2,599 266 (2,643) (2,147) (1,557) (2,177) 285 12,621 |
1H21 |
| (835) 376 2,584 (3,993) (3,448) (2,817) 1,821 1,692 (2,510) 6,482 |
- The data of 2021 above excludes the effect of initial consolidation of subsidiaries, which is NT$ 3,764 million.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
11
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
Q&A
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
12
Ⓒ 2021 Ennostar Inc. All Rights Reserved.
==> picture [157 x 28] intentionally omitted <==
==> picture [523 x 22] intentionally omitted <==
Thank You https://www.ennostar.com
Confidential Security P
Ⓒ 2021 Ennostar Inc. All Rights Reserved.