Macronix — Investor Presentation 2014

Apr 30, 2014

旺宏電子 2014 年第一季法人說明會

2014/04/30

==> picture [287 x 153] intentionally omitted <==

免責聲明

==> picture [721 x 33] intentionally omitted <==

本簡報與會議中之討論內容包含有關於旺宏電子(股) 公司營運、財務狀況與對未來預 期之前瞻性描述，此前瞻性描述將受到已知與未知不確定因素與風險的影響，而造成實 。 際結果與前瞻性瞄述中預期或暗示的結果可能存在重大差異

前述之不確定性因素與風險包含但不限於競爭產品/價格競爭的影響、客戶對公司 產品設計之接受度、公司即時的引進新技術、公司對新產品的即時量產能力、整體半導 。 體產業供需的轉變、產能過剩、產能供給、終端市場的財務狀況及其他等等風險

本簡報與會議內容中之前瞻性描述乃反映目前本公司對整體營運之看法，旺宏電子 (股)免除日後更新、通知之責任。

==> picture [667 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 1
----- End of picture text -----

2014 年第一季營運概況

==> picture [721 x 33] intentionally omitted <==

2014第一季 2013第四季 實際營運 實際營運 營收淨額 NT$ 4.8 B NT$ 5.9 B 營業毛利率 18% 12% 營業淨利率 -27% -25%

• 營收淨額較上季減少 18%，主因為季節性因素需求減少

• 毛利率較上季增加 6 個百分點，主因為較佳的產品銷售組合

• 營業利益率低於上一季，主因為較低的營收

==> picture [667 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 2
----- End of picture text -----

2014 年第一季合併綜合損益比較表

==> picture [721 x 33] intentionally omitted <==

2014/Q1 2013/Q4 2013/Q1 營業收入淨額 4,790 5,860 4,405 營業毛利 860 680 (185) 營業毛利率 18% 12% (4%) 營業費用 (2,131) (2,148) (1,911) 營業淨損 (1,271) (1,468) (2,096) 營業外收(支) (13) (41) 12 稅前淨損 (1,284) (1,510) (2,084) 所得稅費用 (1) (2) (1) 本期淨損 (1,285) (1,512) (2,085) 其他綜合損益 265 141 75 本期綜合損益 (1,020) (1,371) (2,010) 淨利歸屬予 母公司業主 (1,276) (1,501) (2,069) 非控制權益 (9) (11) (16) 基本每股虧損*(NT$) (0.36) (0.42) (0.59) 加權平均流通在外股數(佰萬股) 3,518 3,518 3,518 單位：新台幣佰萬元(每股損益為元)	2014/Q1 2013/Q4 2013/Q1 營業收入淨額 4,790 5,860 4,405 營業毛利 860 680 (185) 營業毛利率 18% 12% (4%) 營業費用 (2,131) (2,148) (1,911) 營業淨損 (1,271) (1,468) (2,096) 營業外收(支) (13) (41) 12 稅前淨損 (1,284) (1,510) (2,084) 所得稅費用 (1) (2) (1) 本期淨損 (1,285) (1,512) (2,085) 其他綜合損益 265 141 75 本期綜合損益 (1,020) (1,371) (2,010) 淨利歸屬予 母公司業主 (1,276) (1,501) (2,069) 非控制權益 (9) (11) (16) 位：新台幣佰萬元(每股損益為元)	QoQ YoY Change Change (18%) 9% 27% 6ppt 22ppt (1%) 12% (13%) (39%) (68%) (15%) (38%) (49%) 6% (15%) (38%) 88% 255% (26%) (49%) (15%) (38%) (16%) (43%)
	基本每股虧損*(NT$) (0.36) (0.42) (0.59)	(15%) (39%)

==> picture [667 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 3
----- End of picture text -----

財務重要資訊

==> picture [340 x 110] intentionally omitted <==

----- Start of picture text -----

2014 Q1 Sales = NTD 4,790 M
----- End of picture text -----

==> picture [335 x 110] intentionally omitted <==

----- Start of picture text -----

2014 Q1 GP = NTD 860M
----- End of picture text -----

==> picture [338 x 246] intentionally omitted <==

----- Start of picture text -----

營業收入
單位：新台幣佰萬元
22,204M
10,000
8,000
6,000
4,000
2,000
0
13Q1 Q2 Q3 Q4 14Q1
----- End of picture text -----

==> picture [330 x 256] intentionally omitted <==

----- Start of picture text -----

營業毛利
單位：新台幣佰萬元
1,951M
1,250
750
250
13Q1 Q2 Q3 Q4 14Q1
(250)
----- End of picture text -----

==> picture [667 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 4
----- End of picture text -----

2014 年第一季財務重要資訊

==> picture [564 x 127] intentionally omitted <==

----- Start of picture text -----

2014Q1 2013Q1
Gross Margin (%) 18% (4%)
EPS (NTD) (0.36) (0.59)
----- End of picture text -----

營業毛利率

每股虧損

==> picture [327 x 219] intentionally omitted <==

----- Start of picture text -----

GM%
25%
18% 18%
12%
15%
4%
5%
(4%)
-5% 13Q1 Q2 Q3 Q4 14Q1
-15%
-25%
----- End of picture text -----

* 每股虧損已追溯調整 NTD

==> picture [337 x 201] intentionally omitted <==

----- Start of picture text -----

1.00
0.75
(1.79)
0.50
0.25
0.00
13Q1 Q2 Q3 Q4 14Q1
(0.25)
(0.26)
(0.36)
(0.50) (0.42)
(0.52)
(0.59)
(0.75)
(1.00)
----- End of picture text -----

==> picture [667 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 5
----- End of picture text -----

2014 年第一季合併簡明資產負債表 / 現金流量資訊

==> picture [721 x 33] intentionally omitted <==

現金及約當現金 存貨(淨額) 固定資產 總資產 短期應計息借款 長期應計息借款 總負債 股東權益 負債佔資產比率(%) 每股淨值(新台幣元) 折舊&攤銷 資本支出 營業活動淨現金流入(出) EBITDA 單位：新台幣佰萬元	03/31/2014	12/31/2013
	9,626 9,506 25,321 51,469 7,226 10,909 23,763 27,705 46.2% 7.87 2014/Q1	11,979 8,795 26,728 54,046 8,223 10,943 25,320 28,726 46.8% 8.15 2013/Q4
	1,886 (339) (857) 672	1,860 (1,212) 1,539
		429

==> picture [667 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 6
----- End of picture text -----

- 2014 年第一季銷售額分析 產品別 ( 母公司 )

單位：新台幣佰萬元

==> picture [641 x 339] intentionally omitted <==

----- Start of picture text -----

6,000
QoQ YoY
58%
4,000
Change Change
Flash -5% +9%
68%
67%
ROM -55% -7%
FBG +34% +31%
2,000
34%
FBG (foundry business group)
19%
22%
13%
11% 8%
0
2013Q1 2013Q4 2014Q1
----- End of picture text -----*

==> picture [667 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 7
----- End of picture text -----

- 2014 年第一季銷售量分析 產品別 ( 母公司 )

單位：佰萬顆

==> picture [690 x 338] intentionally omitted <==

----- Start of picture text -----

500
400
QoQ YoY
Change Change
300
Flash -3% +21%
95%
97%
ROM -45% -9%
200 97%
FBG +33% +37%
100 * Equivalent 8” WF base for FBG
(foundry business group)
3% 5% 3%
0
2013Q1 2013Q4 2014Q1
----- End of picture text -----

==> picture [667 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 8
----- End of picture text -----

- 2014 年第一季記憶體產品銷售額分析 製程別

==> picture [674 x 472] intentionally omitted <==

----- Start of picture text -----

單位：新台幣佰萬元
6,000
18%
4,000
3% 12% 13%
18% 8%
19%
45nm
13%
24%
65 nm
75 nm
2,000
≧0.10μm
66% 51%
55%
0
2013Q1 2013Q4 2014Q1
Copyright © Macronix International Co., Ltd. 9
----- End of picture text -----

約當八吋晶圓產出量

==> picture [721 x 33] intentionally omitted <==

==> picture [700 x 345] intentionally omitted <==

----- Start of picture text -----

Wafer Out
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
09Q1 Q2 Q3 Q4 10Q1 Q2 Q3 Q4 11Q1 Q2 Q3 Q4 12Q1 Q2 Q3 Q4 13Q1 Q2 Q3 Q4 14Q1
----- End of picture text -----

==> picture [667 x 37] intentionally omitted <==

----- Start of picture text -----

Copyright © Macronix International Co., Ltd. 10
----- End of picture text -----

營運現況 - ROM

==> picture [721 x 33] intentionally omitted <==

==> picture [714 x 462] intentionally omitted <==

----- Start of picture text -----

Density shipment index:
1,200 2009Q1 =100
976
1,000
914
802
800
600
528
502 511
393
365
400 342
320
306
193
200 161 156
139
100 106 120 111
84 83
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 14Q1
2009 2010 2011 2012 2013
Copyright © Macronix International Co., Ltd. 11
----- End of picture text -----

營運展望

==> picture [721 x 33] intentionally omitted <==

� ROM business

• 45 奈米製程產品佔2014年第一季 ROM 營收 60%

• 45 奈米 4G/8G Hybrid memory 已於 14Q1出貨

• 45 奈米32Gb Hybrid memory CS將於14Q2通過認證

• 每顆產品平均容量: 2013年全年平均為6.5Gb, 2014年第一季為 6.7Gb

ROM (by tech & sales)

==> picture [585 x 304] intentionally omitted <==

----- Start of picture text -----

NTD %
100%
14%
24%
33% 35%
80%
57%
60%
60% 79%
84%
76%
67% 45 nm
40%
59% 57%
65 nm
38% 75 nm
36%
20%
≧0.10μm
10% 19%
7% 4% 5% 5%
0% 3% 5% 3% 3%2% 2%2% 6% 3% 1% [1%]
13Q1 13Q2 13Q3 13Q4 14Q1 2012 2013 2014E
12
----- End of picture text -----

營運現況 - NOR Flash

==> picture [679 x 471] intentionally omitted <==

----- Start of picture text -----

800
Density shipment index:
2009Q1 =100
587 [602]
600
563
487
460
422 425
390
382
400
360
317
298 299
270
256
250 [272]
227
192
200 173
100
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 14Q1
2009 2010 2011 2012 2013
Copyright © Macronix International Co., Ltd. 13
----- End of picture text -----

營運展望

� NOR flash business

• 75奈米製程產品佔2014年第一季NOR營收30%

• 55奈米 serial 512Mb 1.8V NOR ES 樣品已於14 Q1 送樣認證

• 已開發完成全球最薄 WLCSP構裝，ES 樣品於14Q1送樣認證

• 高容量NOR之Design-win於14Q1為226件 (13Q4為102件、13Q1為66件)

• 75奈米1Gb 3V (for auto application) NAND CS 已於14Q1送樣

==> picture [11 x 10] intentionally omitted <==

==> picture [11 x 10] intentionally omitted <==

==> picture [11 x 10] intentionally omitted <==

High density Mid density (32Mb~128Mb) Low density

==> picture [10 x 9] intentionally omitted <==

• 已於2014年4月收到36奈米 4Gb SLC NAND的首次訂單

==> picture [10 x 9] intentionally omitted <==

==> picture [692 x 296] intentionally omitted <==

----- Start of picture text -----

Low density
NTD % 100% NOR (by tech & sales) 1% NTD % NOR (by density & sales)
7% 100%
7%
15% 19% 23% 26% 30% 21% 12% 21%
80% 37%
80%
55%
60% 60% 54%
51%
93%
85%
40% 81% 77% 74% 79% 40%
70%
62%
36nm 20% 20% 38%
34%
75 nm 28%
≧ 0.10µm
0% 0%
13Q1 13Q2 13Q3 13Q4 14Q1 2012 2013 2014E 2012 2013 2014E
Copyright © Macronix International Co., Ltd. 14
----- End of picture text -----

營運現況 – 2014 第一季 NOR Flash 產品應用分析

==> picture [721 x 33] intentionally omitted <==

一 2014 第 季 NOR

營收分析

==> picture [440 x 126] intentionally omitted <==

----- Start of picture text -----

Consumer,
Comm,
31%
22%
•OTHERS includes
Industrials and others
Handset,
Computer,
13%
21% Auto, 9%
Others, 4%
----- End of picture text -----

一 2014 第 季銷售量分析

==> picture [713 x 210] intentionally omitted <==

----- Start of picture text -----

銷售量
( 佰萬顆 ) Computer Consumer Communication Handset Auto
200 +22% YoY+12% QoQ +25% YoY-6% QoQ +14% YoY-12% QoQ +20% YoY-15% QoQ +5% QoQ+7% YoY
150
150 150 150 150
100
100 100 100 100
50 50 50 50 50
0 2013Q4 2014Q1 0 2013Q4 2014Q1 0 2013Q4 2014Q1 0 2013Q4 2014Q1 0 2013Q4 2013Q4
Copyright © Macronix International Co., Ltd. 15
----- End of picture text -----

For more information regarding Macronix http://www.macronix.com

==> picture [353 x 188] intentionally omitted <==

For all inquiries, suggestions and comments ir@mxic.com.tw