AI assistant
ENNOSTAR — Call Transcript 2024
Feb 23, 2024
52376_rns_2024-02-23_541881dc-9d0c-4dec-a5e3-b2a5577400cb.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) Fourth Quarter 2023 Results Investor Conference
Feb. 23, 2024
Confidential Security P
Ⓒ 2023 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
2
Ⓒ 2023 Ennostar Inc. All Rights Reserved.
Consolidated Statements of Comprehensive Income
| 4Q23 Net Revenue 5,574 EPISTAR 3,647 LEXTAR 1,785 Gross Margin 8.1% Operating Expenses 1,278 Operating Margin (14.8%) Net Non-Operating Items (3,394) Net Income Attributable to Parent Company (3,962) Net Profit Margin (71.1%) Basic EPS (NT Dollar) (5.27) EBITDA% 6.5%* in NT$ millions |
3Q23 6,159 3,787 2,171 8.7% 1,307 (12.4%) 11 (665) (10.8%) (0.89) 7.3% |
4Q22 5,867 4,128 1,619 8.0% 1,335 (14.5%) (143) (752) (12.8%) (1.07) 7.7% |
QoQ -9.5% -3.7% -17.8% -0.6% -2.2% -2.4% -29800.5% -495.6% -60.3% (4.38) -0.8% |
YoY |
|---|---|---|---|---|
| -5.0% -11.6% +10.2% +0.1% -4.3% -0.3% -2270.8% -427.1% -58.3% (4.20) -1.2% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
3
Ⓒ 2023 Ennostar Inc. All Rights Reserved.
Consolidated Statements of Comprehensive Income
| 2023 Net Revenue 22,306 EPISTAR 14,044 LEXTAR 7,713 Gross Margin 5.2% Operating Expenses 5,199 Operating Margin (17.9%) Net Non-Operating Items (3,384) Net Income Attributable to Parent Company (6,783) Net Profit Margin (30.4%) Basic EPS (NT Dollar) (9.02) EBITDA% 3.8%* in NT$ millions |
2022 28,878 20,656 7,918 17.3% 5,534 (1.6%) (18) 38 0.1% 0.05 16.4% |
YoY |
|---|---|---|
| -22.8% -32.0% -2.6% -12.1% -6.0% -16.3% -18835.2% -17937.9% -30.5% (9.07) -12.6% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
4
Ⓒ 2023 Ennostar Inc. All Rights Reserved.
– Statements of Comprehensive Income Epistar
| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
4Q23 3,647 5.4% 671 (12.9%) 13.0% |
3Q23 3,787 3.4% 710 (15.0%) 10.7% |
4Q22 4,128 8.0% 715 (8.8%) 17.9% |
QoQ -3.7% +2.0% -5.5% +2.1% +2.3% |
YoY |
|---|---|---|---|---|---|
| -11.6% -2.6% -6.2% -4.1% -4.9% |
|||||
| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
2023 14,044 (0.1%) 2,811 (19.8%) 8.2% |
2022 20,656 18.9% 3,228 3.7% 25.3% |
YoY -32.0% -19.0% -12.9% -23.5% -17.1% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
5
Ⓒ 2023 Ennostar Inc. All Rights Reserved.
– Revenue by Application Epistar
==> picture [642 x 321] intentionally omitted <==
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
6
Ⓒ 2023 Ennostar Inc. All Rights Reserved.
Statements of Comprehensive Income – Lextar
| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
4Q23 1,785 21.2% 497 (6.7%) 1.0% |
3Q23 2,171 22.0% 525 (2.2%) 3.9% |
4Q22 1,619 16.5% 500 (14.4%) (6.0%) |
QoQ -17.8% -0.8% -5.2% -4.5% -2.9% |
YoY |
|---|---|---|---|---|---|
| +10.2% +4.7% -0.6% +7.7% +7.0% |
|||||
| in NT$ millions Net Revenue Gross Margin Operating Expenses Operating Margin EBITDA%* |
2023 7,713 20.9% 1,959 (4.4%) 2.5% |
2022 7,918 17.9% 1,886 (6.0%) 1.5% |
YoY -2.6% +3.0% +3.9% +1.6% +1.0% |
- EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
7
Ⓒ 2023 Ennostar Inc. All Rights Reserved.
– Revenue by Application Lextar
==> picture [642 x 321] intentionally omitted <==
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
8
Ⓒ 2023 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 % 15,563 24.3% 8,899 13.9% 4,216 6.6% 3,300 5.1% 19,465 30.4% 64,102 100.0% 2,537 4.0% 1,934 3.0% 14,958 23.3% 49,145 76.7% 77 2.8 11,093 4Q23 |
Amount % 16,830 23.8% 9,235 13.1% 4,465 6.3% 3,409 4.8% 20,873 29.5% 70,680 100.0% 3,443 4.9% 2,395 3.4% 16,661 23.6% 54,018 76.4% 72 2.7 10,992 3Q23 |
4Q22 |
|---|---|---|---|
| Amount % |
|||
| 16,127 22.1% 9,854 13.5% 4,825 6.6% 3,609 4.9% 22,037 30.2% 73,043 100.0% 1,630 2.2% 3,691 5.1% 16,382 22.4% 56,661 77.6% 81 3.2 10,806 |
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
9
Ⓒ 2023 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 Net Change in Cash Ending Balance in NT$ millions |
4Q23 370 (4,219) 1,190 (50) (560) (367) (1,159) (1,330) (1,267) 15,563 |
3Q23 395 (753) 1,216 (70) (1,066) (646) (163) (242) (546) 16,830 |
4Q22 |
|---|---|---|---|
| 2,083 (992) 1,297 1,836 (720) (1,241) 270 492 1,021 16,127 |
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
10
Ⓒ 2023 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 |
2023 2,380 (7,385) 4,840 1,467 (2,134) (2,034) (765) (921) 0 0 (564) 15,563 |
2022 |
|---|---|---|
| 7,959 (483) 5,210 3,268 (4,699) (4,320) 296 (2,317) 3,627 (1,366) 3,791 16,127 |
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
11
Ⓒ 2023 Ennostar Inc. All Rights Reserved.
Q&A
==> picture [86 x 16] intentionally omitted <==
Confidential Security P
12
Ⓒ 2023 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 Ⓒ 2023 Ennostar Inc. All Rights Reserved.