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Macronix — Investor Presentation 2018
Jun 15, 2018
52013_rns_2018-06-15_3ab249c7-5f90-481f-9496-212f6bc9840b.pdf
Investor Presentation
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旺宏電子 2018 年第一季法人說明會
April 26, 2018
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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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Copyright © Macronix International Co., Ltd.
2018 年第一季營運概況
2018 第一季 2017 第四季 2017 第一季 實際營運 實際營運 實際營運 營收淨額 NT$ 9.1B NT$ 10.6B NT$ 6.6B 營業毛利率 42 % 43 % 27% 營業淨利率 22% 25% 6%
Copyright © Macronix International Co., Ltd.
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2018 年第一季合併綜合損益比較表
單位：新台幣佰萬元(每股盈餘為元)2018/Q1 2017/Q4 2017/Q1 營業收入淨額9,061 10,557 6,610 營業毛利3,814 4,582 1,815 營業毛利率42% 43% 27% 營業費用(1,819) (1,926) (1,401) 營業淨利1,995 2,656 414 營業利益率22% 25% 6% 營業外收(支)(100) (74) (210) 稅前淨利1,896 2,582 204 所得稅費用(利益)14 7 1 本期淨利1,882 2,576 203 其他綜合損益(154) 343 19 本期綜合損益1,728 2,919 222 淨利歸屬予本公司業主1,882 2,576 203 非控制權益(0) (0) (0) |
QoQ YoY Change Change (14%) 37% (17%) 110% (1ppt) 15ppt (6%) 30% (25%) 382% (3ppt) 16ppt - - (27%) 829% - - (27%) 829% - - (41%) 680% (27%) 829% |
|---|---|
基本每股盈餘* -- NT$ 1.061.45 0.12 |
(27%) 783% |
| EBITDA 2,431 3,126 761 流通在外加權平均股數1,780 1,777 1,756 |
計算每股盈餘時，減資彌補虧損之影響已追溯調整
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2018Q1 財務重要資訊
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營業毛利率
43% 42%
45%
38%
32% 34%
31%
27%
30%
15%
14%
15%
0%
16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4 18Q1
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股東權益報酬率
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29%
30%
26%
20%
20%
9%
10%
4%
0%
17Q1 Q2 Q3 Q4 18Q1
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2018 年第一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 )
單位：新台幣佰萬元(每股淨值為 |
元) |
||
|---|---|---|---|
| 2018/03/31 | 2017/12/31 | 2017/03/31 | |
現金及約當現金 |
10,251 | 8,633 | 6,062 |
存貨(淨額) |
11,228 | 9,872 | 7,384 |
固定資產 |
17,056 | 16,259 | 15,574 |
總資產 |
48,300 | 44,194 | 35,851 |
短期應計息負債 |
2,947 | 3,179 | 4,119 |
長期應計息負債 |
5,980 | 4,860 | 6,058 |
總負債 |
21,498 | 19,538 | 17,243 |
股東權益 |
26,802 | 24,656 | 18,608 |
負債佔資產比率(%) |
44.5% | 44.2% | 48.1% |
每股淨值(追溯調整) |
14.87 | 13.68 | 10.31 |
| 2018/Q1 | 2017/Q4 | 2017/Q1 | |
折舊&攤銷 |
496 | 493 | 499 |
資本支出 |
(1,496) | (879) | (563) |
營業活動淨現金流入 |
2,129 | 3,969 | 487 |
Copyright © Macronix International Co., Ltd.
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2018 年第一季銷售額分析 - 產品別 ( 母公司 )
Unit: NTD Million
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12,000
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14%
20%
9,000
26%
QoQ YoY
48
11% Change Change
11%
6,000 11% 48% %
NAND +10% +236%
44%
53% NOR -21% +5%
58%
63%
ROM -21% +33%
3,000
FBG -1% +32%
32%
25%
28% 3 22% * FBG (foundry business group)
17%
8% 9%7% 6% 8%
0
2017Q1 2017Q4 2018Q1
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Copyright © Macronix International Co., Ltd.
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營運現況 - ROM
ROM business
-
≥ 64Gb
容量產品佔2018年第一季ROM營收57% -
營收優於季節性需求
2,000
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1,756
Density shipment index: 2014Q1 =100
1,417
1,121
927
451
416
318 307 326
174
147
100 89 110 72 103 81
0
14Q1 Q2 Q3 Q4 15Q1 Q2 Q3 Q4 16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4 18Q1
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1,000
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營運現況 - NOR Flash
Density shipment index: 2014Q1 =100
250
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170
160 164
153 151 150
144
142
135
127 127 126
125 113 114 119
112
100
0
14Q1 Q2 Q3 Q4 15Q1 Q2 Q3 Q4 16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4 18Q1
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營運現況 - ASP trend of NOR product line
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ASP per unit
10.00
5.00
0.00
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16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4 18Q1
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營運展望 - NOR Flash
NOR flash business
Accumulative design-win case count
- ≤75nm
製程產品佔2018年第一季NOR營收57%
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1,200 LD (512K~16M)
MD (32M~128M)
HD ( ≧ 256M)
600
0
16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4 18Q1
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利潤導向之成長策略：專注於高容量產品市場及高 品質營收
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≤ 55 nm
NOR (by tech & sales) ≤ 75 nm
NTD % ≧ 0.10μm
100% 2% 2% 3% 5% 6% 1% 3%
13%
80%
46%
43% 49%
48% 51%
55% 51%
50%
60%
40%
55% 53%
50% 48%
46%
20% 40% 43% 37%
0%
17Q1 Q2 Q3 Q4 18Q1 2016 2017 2018(E)
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Speedy growth in automotive segment
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Revenue
2500
1500
500
2011 2012 2013 2014 2015 2016 2017 18Q1
-500
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- 營運現況 2018 年第一季 NOR Flash 產品應用分析
2018Q1 NOR Revenue breakdown
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Consumer, Comm,
24% 30%
Computer,
20% Auto , 13%
I.M.A.,
13%
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*** Comm: including handsets *** I (Industrial), M (Medical), A (Aerospace-defense)
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Computer Consumer Communication Automotive
Rev -29% QoQ -29% QoQ -27% QoQ +6% QoQ
(M)
-8% YoY -12% YoY +3% YoY +15% YoY
1,500
2,000 1,000
2,000
1,000
1,000 500
1,000
500
0 0 0
0
17Q4 18Q1 17Q4 18Q1 17Q4 18Q1 17Q4 18Q1
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Macronix new NOR product series
1.2V NOR Flash
-
具有ultra-low Vcc, ultra-low power consumption及ultra-low deep power down current特性，使電力消耗節省80%以上 -
Deep power down current is only nA (
微安培) level compared to peers’ μA (毫安培) -
適用於低耗能應用:健康監控(Health monitoring),藍芽(Bluetooth connection),物聯網(IoT),行動上網裝置(mobile internet devices),等等.
8-bit I/O NOR flash: the fastest in the NOR Flash industry
-
操作頻率高達250MHz，資料傳輸速率則為500MB/s，為業界最高速的Serial NOR快 閃記憶體。 -
可滿足汽車、工業及消費電子等各項應用對於快速啟動及即時反應的需求。
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營運現況與展望 - SLC NAND
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SLC NAND flash business Accumulative design-win
case count of 36nm
600
515
•
本季出貨量減少但價格上升
• SLC NAND 是 2018 年的主要成長動力之一
280 [320 362 398 431 ]
300 227
123
49
0
16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4 18Q1
Total density (Tb)
1,000 SLC NAND Flash equivalent density shipment 929
Density shipment index:
2015Q1 =100 695
662
592 587
514
479
500 423
263
213
175
157
100
0
15Q1 Q2 Q3 Q4 16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4 18Q1
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For more information regarding Macronix http://www.macronix.com
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For all inquiries, suggestions and comments [email protected]