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ENNOSTAR Investor Presentation 2021

Nov 29, 2021

52376_rns_2021-11-29_f78018f4-98e0-4678-9719-1a6134fff240.pdf

Investor Presentation

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ENNOSTAR Inc.(3714.TW) Third Quarter 2021 Results Investor Conference

Nov. 11, 2021

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.

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Ⓒ 2021 Ennostar Inc. All Rights Reserved.

Consolidated Statements of Comprehensive Income

3Q21
Net Revenue
10,329
EPISTAR
7,240
LEXTAR
3,089
Gross Margin
24.8%
Operating Expenses
1,539
Operating Margin
10.2%
Net Non-Operating Items
178
Net Income Attributable to
Parent Company
1,296
Net Profit Margin
12.6%
Basic EPS (NT Dollar)
1.91
EBITDA%
23.2%
in NT$ millions		 2Q21
9,365
6,780
2,585
22.8%
1,536
6.8%
85
700
7.5%
1.03
20.9%		 3Q20
6,573
3,731
2,841
0.8%
1,475
(20.8%)
(25)
(1,309)
(19.9%)
(1.91)
(0.8%)		 QoQ
+10.3%
+6.8%
+19.5%
+2.0%
+0.2%
+3.4%
-
+85.2%
+5.1%
0.88
+2.3%		 YoY
+57.1%
+94.0%
+8.7%
+24.0%
+4.4%
+31.0%
-
-
+32.5%
3.82
+24.0%

  • ＊ EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.

  • ＊*The data of 2020 above is a simple addition of EPISTAR's financial report and LEXTAR's financial report and is unaudited.

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Ⓒ 2021 Ennostar Inc. All Rights Reserved.

Consolidated Statements of Comprehensive Income

2021
9 months
Net Revenue
26,572
EPISTAR
18,583
LEXTAR
7,989
Gross Margin
21.2%
Operating Expenses
4,398
Operating Margin
5.1%
Net Non-Operating Items
248
Net Income Attributable to
Parent Company
1,737
Net Profit Margin
6.5%
Basic EPS (NT Dollar)
2.56
EBITDA%
19.9%
in NT$ millions		 2020
9 months
16,901
10,250
6,651
1.0%
4,383
(24.0%)
(201)
(3,996)
(23.6%)
(5.82)
0.1%		 YoY
+57.2%
+81.3%
+20.1%
+20.2%
+0.3%
+29.1%
-
-
+30.1%
8.38
+19.8%

  • ＊ EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.

  • ＊*The data of 2020 above is a simple addition of EPISTAR's financial report and LEXTAR's financial report and is unaudited.

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Ⓒ 2021 Ennostar Inc. All Rights Reserved.

– Statements of Comprehensive Income Epistar

in NT$ millions
Net Revenue
Gross Margin
Operating Expenses
Operating Margin
EBITDA%		 3Q21
7,240
26.8%
938
14.3%
30.7%		 2Q21
6,780
24.4%
1,008
10.1%
27.4%		 3Q20
3,731
(9.4%)
835
(30.4%)
(0.7%)		 QoQ
+6.8%
+2.4%
-6.9%
+4.2%
+3.3%		 YoY
+94.0%
+36.2%
+12.3%
+44.7%
+31.4%
YoY
+81.3%
+28.4%
-2.8%
+40.9%
+26.1%
in NT$ millions
Net Revenue
Gross Margin
Operating Expenses
Operating Margin
EBITDA%		 2021
9 months
18,583
22.4%
2,845
7.8%
26.4%		 2020
9 months
10,250
(6.0%)
2,928
(33.1%)
0.3%
  • ＊ EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.

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Ⓒ 2021 Ennostar Inc. All Rights Reserved.

– Revenue by Application Epistar

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100%
5%
11% 8% 10% 8%
13%
16% 16%
80%
32% 39%
19%
17% 18%
60%
14%
18%
12%
18% 18%
TV BLU
40%
15% 14% NB/MNT/Mobile
17%
13% 17% Lighting
14% 11% Display
20% 10% 10%
8% Automotive
9%
7%
IR
15% 15% 13%
10% 10%
Others
0%
3Q20 4Q20 1Q21 2Q21 3Q21
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Ⓒ 2021 Ennostar Inc. All Rights Reserved.

Statements of Comprehensive Income – Lextar

in NT$ millions
Net Revenue
Gross Margin
Operating Expenses
Operating Margin
EBITDA%		 3Q21
3,089
20.2%
465
5.2%
11.1%		 2Q21
2,585
18.5%
467
0.4%
7.8%		 3Q20
2,841
14.2%
639
(8.3%)
(0.9%)		 QoQ
+19.5%
+1.7%
-0.5%
+4.8%
+3.3%		 YoY
+8.7%
+6.0%
-27.3%
+13.5%
+12.0%
YoY
+20.1%
+6.4%
-8.0%
+11.5%
+9.1%
in NT$ millions
Net Revenue
Gross Margin
Operating Expenses
Operating Margin
EBITDA%		 2021
9 months
7,989
18.4%
1,340
1.6%
8.9%		 2020
9 months
6,651
12.0%
1,455
(9.9%)
(0.2%)
  • ＊ EBITDA% is calculated as the operating income plus depreciation and amortization divided by revenue.

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Ⓒ 2021 Ennostar Inc. All Rights Reserved.

Revenue by Application – Lextar

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100%
80% 41% 41% 37% 36% 37%
60%
40% 48% 48% 45%
43% 44% TV BLU
NB/MNT/Mobile
20% Lighting
5%
8% 7% 6% 7% 3% Display
8% 8% 9% 9% 10% Sensing/UV/Auto
0%
3Q20 4Q20 1Q21 2Q21 3Q21
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Ⓒ 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 Debt to Equity		 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%
5,651
7.2%
3,977
5.1%
24,084
30.8%
54,036
69.2%
68
2.1
-3.2%
3Q21		 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%
3,489
4.8%
3,917
5.3%
21,106
28.8%
52,118
71.2%
73
2.1
1.8%
2Q21		 3Q20
Amount
%
10,144
13.5%
10,610
14.2%
4,232
5.7%
1,929
2.6%
25,985
34.7%
74,904
100.0%
2,680
3.6%
3,012
4.0%
20,145
26.9%
54,759
73.1%
56
2.1
-8.1%

＊ The data of 2020 above is a simple addition of EPISTAR's financial report and LEXTAR's financial report and is unaudited.

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Ⓒ 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
Net Change in Cash
Ending Balance
in NT$ millions		 3Q21
2,072
1,234
1,343
(527)
44
(898)
2,804
2,223
4,850
11,332		 2Q21
(203)
720
1,323
(2,419)
(775)
(1,082)
578
388
(618)
6,482		 3Q20
631
(1,395)
1,317
748
(1,700)
(1,938)
1,178
1,452
188
10,144

＊The data of 2021 above excludes the effect of initial consolidation of subsidiaries, which is NT$ 3,764 million.

** The data of 2020 above is a simple addition of EPISTAR's financial report and LEXTAR's financial report and is unaudited. .

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Ⓒ 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
Net Change in Cash
Ending Balance
in NT$ millions		 2021
9 months
1,237
1,610
3,928
(4,520)
(3,404)
(3,716)
4,625
3,890
2,341
11,332		 2020
9 months
1,999
(4,254)
4,074
1,766
(3,957)
(3,771)
3,194
2,550
1,153
10,144

＊The data of 2021 above excludes the effect of initial consolidation of subsidiaries, which is NT$ 3,764 million.

** The data of 2020 above is a simple addition of EPISTAR's financial report and LEXTAR's financial report and is unaudited. .

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Ⓒ 2021 Ennostar Inc. All Rights Reserved.

Q&A

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Ⓒ 2021 Ennostar Inc. All Rights Reserved.

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Thank You https://ennostar.com

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Ⓒ 2021 Ennostar Inc. All Rights Reserved.

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