Macronix — Investor Presentation 2015

Oct 29, 2015

旺宏電子 2015 年第三季法人說明會 Oct 29, 2015

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免責聲明

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 。 實際結果與前瞻性描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。

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2015 年第三季營運概況

2015 第三季 2015 第二季 實際營運 實際營運 營收淨額 NT$ 5.65B NT$ 4.98B 營業毛利率 14 % 12% 營業淨利率 -19% -24%

• 營收淨額較上季增加 14% ，主因為 ROM 及 NOR 需求增加

• 毛利率較上季增加 2 個百分點，主因為不同的銷售組合

• 營業淨利率較上季改善，主因為營業毛利較高

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2015 年第三季合併綜合損益比較表

015年第三季合併綜合損益比較表
2015/Q3 2015/Q2 2014/Q3 營業收入淨額 5,647 4,975 6,691 營業毛利 786 608 1,140 營業毛利率 14% 12% 17% 營業費用 (1,836) (1,779) (2,239) 營業淨損 (1,050) (1,171) (1,099) 營業利益率 (19%) (24%) (16%) 營業外收(支) 104 (46) (1) 稅前淨損 (946) (1,217) (1,100) 所得稅費用 (5) (5) (1) 本期淨損 (951) (1,222) (1,101) 其他綜合損益 (119) (203) 25 本期綜合損益 (1,070) (1,425) (1,076) 淨利歸屬予 母公司業主 (949) (1,221) (1,097) 非控制權益 (2) (1) (4) 單位：新台幣佰萬元(每股損益為元)	Change Change 14% (16%) 29% (31%) 2ppt (3ppt) 3% (18%) (10%) (4%) 5ppt (3ppt) (22%) (14%) (22%) (14%) (41%) (579%) (25%) (1%) (22%) (13%)
基本每股虧損(NT$) (0.27) (0.35) (0.31)	(23%) (13%)
EBITDA 594 344 798 流通在外加權平均股數 3,519 3,518 3,518

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財務重要資訊

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2015 YTD Sales = NTD 15,328 M 2015 YTD GP = NTD 2,014M
-7% YoY -14% YoY
營業收入 營業毛利
單位：新台幣佰萬元 單位：新台幣佰萬元
1,500
10,000 16,454M 2,336M
2,014M
15,328M
8,000
1,000
6,000
4,000
500
2,000
0 0
14Q1 Q2 Q3 Q4 15Q1 Q2 Q3 14Q1 Q2 Q3 Q4 15Q1 Q2 Q3
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2015 年第三季財務重要資訊

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2015Q3 2014Q3
營業毛利率 14% 17%
每股損益 (NTD) (0.27) (0.31)
營業毛利率 每股損益
GM% NTD
25%
1.00
18% 17%
0.75
14%
13%
15% 12%
6% 8% 0.50 (1.18) (0.72)
0.25
5%
0.00
14Q1 Q2 Q3 Q4 15Q1 Q2 Q3
-5% 14Q1 Q2 Q3 Q4 15Q1 Q2 Q3
(0.25)
(0.10)
(0.31) (0.27)
(0.36)
(0.50)
(0.35)
-15% (0.51)
(0.75) (0.65)
-25% (1.00)
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2015 年第三季合併簡明資產負債表 / 現金流量資訊

單位：新台幣佰萬元(每股淨值為元)	2015/09/30	2015/06/30
現金及約當現金	3,819	3,811
存貨(淨額)	10,235	10,412
固定資產	17,887	18,951
總資產	38,807	39,971
短期應計息借款	3,992	5,649
長期應計息借款	9,851	8,324
總負債	18,589	18,783
股東權益	20,218	21,188
負債佔資產比率(%)	47.9%	47.0%
每股淨值(新台幣元)	5.61	5.95
	2015/Q3	2015/Q2
折舊&攤銷	1,460	1,488
資本支出	(366)	(559)
營業活動淨現金流入(出)	355	(226)

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- 2015 年第三季銷售額分析 產品別 ( 母公司 )

單位：新台幣佰萬元

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8,000
4%
6,000
7% QoQ YoY
53% 9% Change Change
4,000 NAND -3% +58%
65%
NOR +13% +4%
66%
ROM +91% -56%
2,000
32% FBG -23% -22%
FBG (foundry business group)
10% 17%
11% 15% 11%
0
2014Q3 2015Q2 2015Q3
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- 2015 年第三季銷售量分析 產品別 ( 母公司 )

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單位：佰萬顆
600
2%
500 3%
4%
QoQ YoY
400 Change Change
NAN D -18% +18%
300
NOR +9% -3%
94% 94% 95%
ROM +61% -44%
200
FBG -22% -20%
Equivalent 8” WF base for FBG
100
(foundry business group)
4% 2% 2%
0
2014Q3 2015Q2 2015Q3
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營運現況 - ROM

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Density shipment index:
1,600 2010Q1 =100
1,490
1,439
1,164
1,200
1,090
957
800
629 598 610 687
469
514
435 408
417
382
365
400 336
230
186 166
132
100 99
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010 2011 2012 2013 2014 2015
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營運展望

� ROM business

• ≤ 45 奈米製程產品佔 2015 第三季 ROM 營收 76%

• 季節需求低於預期，主因為客戶新舊平台轉換

• 客戶將於 2016 年公佈新主機平台之功能與細節

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NTD % ROM (by tech & sales)
100% 1 %
80%
35%
60% 61%
66%
76% 76%
60% 80% 80% 78%
84%
32 nm
40%
45 nm
65%
≥ 65 nm
20% 40% 39%
34%
20% 20% 24% 24% 21%
16%
0%
14Q1 Q2 Q3 Q4 15Q1 Q2 Q3 2013 2014 2015
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營運現況 - NOR Flash

Density shipment index: 2010Q1 =100

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300
270
238
250 238
211
214 211
188
201
197
200
178
171
158
157
145
142
150
133
111 117 111
100
100 84 95
71
50
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010 2011 2012 2013 2014 2015
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Current status of NOR memory business

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≤ 75 nm
NTD % NOR (by tech & sales) ≧ 0.10 µ m
100%
≤75nm products represented 42% of NOR 21%
28% 30% 33% 34% 33% 32%
80% 39% 42% 40%
According to iHS, in 2015Q2 Macronix ranks No. 2
60%
with global market share of 20.9% and still
40% 79%
72% 70% 67% 66% 67% 61% 68%
Increasing design-wins provide the sustainable 58% 60%
growth momentum for the future 20%
0%
14Q1 Q2 Q3 Q4 15Q1 Q2 Q3 2013 2014 2015(E)
40%
34%
35% 37%
30% 33% 32% 32% 31.9%
25.4% 25.4%
25.00%
25% 22.0% 22.5%
24% 25.5% 20.90%
23.8% 21.5%
20% 21.5% 20.8%
20.30%
18.8% 19.1%
15%
15.1%
10% 13.3%
12.0%
10%
9%
5%
Macronix Cypress (Spansion) Micron
4%
0%
Y2008 Y2009 Y2010 Y2011 Y2012 Y2013 Y2014 2015Q1 2015Q2
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� NOR flash business

• ≤75nm products represented 42% of NOR business in 15Q3

• According to iHS, in 2015Q2 Macronix ranks No. 2 with global market share of 20.9% and still growing

• Increasing design-wins provide the sustainable growth momentum for the future

Targeting the growing automotive market with competitive products

Rapid and sustainable growth in automotive market

• Macronix is global ranking No. 3 in 2014

• Top 3 companies account for 93% market share in automotive segment

• Revenue contribution from automotive segment is expected to grow

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250 NOR from automotive segment
202
Rev equivalent index:
200
2013Q1 = 100 CAGR = 26% 177 178
156 160
150 143 148
132
125
124
100
100
50
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2013 2014 2015
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Targeting the booming IoT market with innovative products

UltraLow Power/Wide Range Vcc Memory Solution

Target Markets: Internet of Things (IoT) / Wearable Devices Density: 512Kb to 64Mb

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Features:

	�Ultra Low Power	�Small Form Factor
	Consumption	�WSON, USON	Macronix’s innovative solutions aiming the
	�70% to 90% power	Packages, WLCSP,	booming IoT and wearable markets
	savings �Wide Range Vcc (1.65 -	KGD �Standard Serial NOR	• Aiming emergent markets with annual market size≧20B units within 3 yrs • Sample requests are from all regions and
	3.6V)	Flash Interface	diversified applications for KGD & discrete
	�extends battery life		memory
	byup to 50%	�Unique ID, secured	• Already sent out ES/CS to ~200 global top tier
		OTP	customers in various applications, including Wireless charger, Wearable, Connectivity, Smart home appliance, Alarm & security, Thermostat, Smart meter, Smart pill, etc.

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營運現況 – 2015 年第三季 NOR Flash 產品應用分析

2015 年第三季 NOR

營收分析

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Consumer,
36% Comm,
22%
Handset,
Computer, 5%
18%
Auto &
Indu., 19%
2015 年第三季 NOR
銷售量分析
銷售量
( 佰萬顆 ) Computer Consumer Communication Handset Auto & Indu.
-
200 -14% YoY3% QoQ +9% QoQ+7% YoY +15% QoQ+3% YoY -107% YoY+3% QoQ +51% YoY+22% QoQ
150
150 150 150 150
100
100 100 100 100
50 50 50 50 50
0 2015Q2 2015Q3 0 2015Q2 2015Q3 0 2015Q2 2015Q3 0 2015Q2 2015Q3 0 2015Q2 2015Q3
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Current status – Alliance with lobal to -tier distributor g p

Macronix and Arrow Electronics Announced Global Distribution Partnership

• Press release were co-launched globally by both Macronix and Arrow Electronics on June 16, 2015.

• The new agreement enables Macronix Flash memory products & solutions available globally through Arrow’s extensive sales and distribution network.

• Arrow is specializing in automotive and industrial segments

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營運現況 – SLC NAND

2015 年第三季 NAND

� SLC NAND flash business

• SLC NAND Q3 銷售下降主因為客戶存貨調 整所致

• Design-wins 大幅增加顯示努力成果，未來 營收將持續成長

營收分析

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Comm,
58%
Consumer,
35%
Others, 7%
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SLC NAND Flash equivalent density shipment

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Total density (Tb)
Index 36 nm 3,000 150,000
1,500 Density shipment index: 40,000
75 nm
2014Q1 =100
2,000 100,000
1,000 877 1,033
787
593 573 20,000
501
398 1,000 50,000
500
100
0 0 0 0
14Q1 Q2 Q3 Q4 15Q1 Q2 Q3 Q4(E) 2013 2014 2015(E)
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For more information regarding Macronix http://www.macronix.com

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