Macronix — Investor Presentation 2018

Mar 6, 2018

旺宏電子 2017 年第四季法人說明會

January 31, 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.

2017 年第四季營運概況

2017 第四季 2017 第三季 2017 全年 2016 全年 實際營運 實際營運 實際營運 實際營運 營收淨額 NT$ 10.6B NT$ 10.5B NT$ 34.2B NT$ 24.1B 營業毛利率 43 % 38% 37 % 24% 營業淨利率 25% 20% 17% -2%

Copyright © Macronix International Co., Ltd.

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2017 年第四季合併綜合損益比較表

單位：新台幣佰萬元(每股盈餘為元) 2017/Q4 2017/Q3 2016/Q4 營業收入淨額 10,557 10,467 6,766 營業毛利 4,582 4,022 2,163 營業毛利率 43% 38% 32% 營業費用 (1,926) (1,923) (1,545) 營業淨利 2,656 2,098 618 營業利益率 25% 20% 9% 營業外收(支) (74) 30 1 稅前淨利 2,582 2,128 619 所得稅費用(利益) 7 5 (83) 本期淨利 2,576 2,123 702 其他綜合損益 343 138 (22) 本期綜合損益 2,919 2,261 680 淨利歸屬予 本公司業主 2,576 2,123 703 非控制權益 (0) (0) (1)	QoQ YoY Change Change 1% 56% 14% 112% 5ppt 11ppt 0% 25% 27% 330% 5ppt 16ppt 21% 317% 38% (108%) 21% 267% 149% - 29% 329% 21% 267%
基本每股盈餘* -- NT$ 1.45 1.20 0.40	21% 263%
EBITDA 3,126 2,667 1,189 流通在外加權平均股數 1,777 1,766 1,754

• 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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2017 年合併綜合損益比較表

單位：新台幣佰萬元(每股損益為元) 2017 2016 營業收入淨額 34,197 24,125 營業毛利 12,635 5,836 營業毛利率 37% 24% 營業費用 (6,882) (6,194) 營業淨利 5,753 (358) 營業利益率 17% (1%) 營業外收(支) (217) (113) 稅前淨利 5,536 (471) 所得稅費用(利益) 19 (224) 本期淨利 5,517 (247) 其他綜合損益 607 (77) 本期綜合損益 6,124 (324) 淨利歸屬予 母公司業主 5,518 (243) 非控制權益 (1) (4)	YoY Change 42% 116% 13ppt 11% - 18ppt - - - - - - -
基本每股盈餘* -- NT$ 3.12 (0.14)	-
acronix International Co., Ltd. 4 EBITDA 7,724 1,875 流通在外加權平均股數 1,766 1,748 *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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2017Q4 財務重要資訊

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營業毛利率
43%
45%
38%
32% 34%
30.7%
27%
30%
15% 14%
15%
0%
16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4
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股東權益報酬率

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30%
26%
20%
20%
9%
10%
4%
0%
17Q1 Q2 Q3 Q4
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2017 年第四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)
	2017/12/31	2017/09/30
現金及約當現金	8,633	6,883
存貨(淨額)	9,872	9,389
固定資產	16,259	15,490
總資產	44,194	41,361
短期應計息負債	3,179	8,233
長期應計息負債	4,860	963
總負債	19,538	19,656
股東權益	24,656	21,705
負債佔資產比率(%)	44.2%	47.5%
每股淨值(追溯調整)	13.68	12.04
	2017/Q4	2017/Q3
折舊&攤銷	493	488
資本支出	(879)	(657)
營業活動淨現金流入	3,969	1,970

Copyright © Macronix International Co., Ltd.

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2017 年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)
	2017/12/31	2016/12/31
現金及約當現金	8,633	6,368
存貨(淨額)	9,872	7,087
固定資產	16,259	15,500
總資產	44,194	35,545
短期應計息借款	3,179	4,681
長期應計息借款	4,860	5,636
總負債	19,538	17,225
股東權益	24,656	18,320
負債佔資產比率(%)	44.2%	48.5%
每股淨值(新台幣元)	13.68	10.31
	2017	2016
折舊&攤銷	1,972	2,041
資本支出	(2,220)	(923)
營業活動淨現金流入	7,034	5,421

Copyright © Macronix International Co., Ltd.

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2017 年第四季銷售額分析 - 產品別 ( 母公司 )

Unit: NTD Million

12,000

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14%
14%
20%
9,000
QoQ YoY
48
11% Change Change
12%
6,000 11% 48% % 48%
NAND +48% +165%
53% NOR +0% +36%
55%
63%
ROM -23% +63%
3,000
FBG +7% +10%
32% 5%
32%
28% 4 * FBG (foundry business group)
17%
8% 9 9% 6% 6% 7%
0
2016Q4 2017Q3 2017Q4
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2017 年銷售額分析 - 產品別 ( 母公司 )

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Unit: NTD Million
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40,000
15% YoY
30,000 11%
Change
8%
NAND +86%
11%
NOR +28%
20,000 53%
65% 58% ROM +81%
58%
FBG -6%
10,000
FBG (foundry business group)
25%
15% 20%
20%
12% 11% 11% 7%
0
2016 2017
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營運現況 - ROM

 ROM business

• ≥ 64Gb 容量產品佔 2017 年第四季 ROM 營收 68%

• 營收較上季減少因為季節性因素

2,100

1,400

700

0

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2,015
1,625
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Density shipment index: 2013Q1 =100

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1,064
517
478
374
365 352
285
267
200
168
149
100 115 102 126 82 118 93
13Q1 Q2 Q3 Q4 14Q1 Q2 Q3 Q4 15Q1 Q2 Q3 Q4 16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4
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營運現況 - NOR Flash

Density shipment index: 2013Q1 =100

250

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202
190 195
182
180 179
171 169
161
151 151 150
134 135 134
128
125
119
125 113
100
0
13Q1 Q2 Q3 Q4 14Q1 Q2 Q3 Q4 15Q1 Q2 Q3 Q4 16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4
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營運展望 - NOR Flash

 NOR flash business

Accumulative design-win case count

• ≤75nm 製程產品佔 2017 年第四季 NOR 營收 60%

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900 LD (512K~16M)
MD (32M~128M)
HD ( ≧ 256M)
600
300
0
16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4
Speedy growth in automotive segment
Revenue
2500
1500
500
2011 2012 2013 2014 2015 2016 2017
-500
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• 以業界最佳的產品品質與效能，旺宏專注於高品質 / 高容量之產品市場

• 2018 年成長動力來自於數據中心、電信與車用產品 等

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≤ 55 nm
NOR (by tech & sales) ≤ 75 nm
NTD % ≧ 0.10μm
100% 1% 1% 1% 2% 2% 3% 5% 1% 3%
80% 39%
42% 46% 49% [46%] [43%] 48% 51% 46% 49%
55%
60%
40%
61%
58% 53% 50% [53%] [55%] 50% 46% 53% 48%
20% 40%
0%
16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4 2015 2016 2017
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- 營運現況 2017 年第四季 NOR Flash 產品應用分析

2017 年第四季 NOR 營收分析

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Consumer,
27%
Comm, 31%
Computer,
22%
Auto , 10%
I.M.A., 10%
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*** Comm:** including handsets

• I (Industrial), M (Medical), A (Aero space-defense)

Consumer -11% QoQ +9% YoY

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Computer Consumer Communication Automotive
+3% QoQ -11% QoQ +1% QoQ +4% QoQ
Rev +47% YoY +9% YoY +47% YoY +22% YoY
(M)
1,500
2,000 1,000
2,000
1,000
1,000 500
1,000
500
0 0 0
0
17Q3 17Q4 17Q3 17Q4 17Q3 17Q4 17Q3 17Q4
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營運現況 – 2017 年度 NOR Flash 產品應用分析

2017 年 NOR 營收分析

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Consumer,
29%
Comm, 31%
Computer,
22%
Auto, 10%
I.M.A, 8%
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*** Comm:** including handsets

• I (Industrial), M (Medical), A (Aerospace-defense)

Consumer

Computer

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Rev
(M) +46% YoY +8% YoY
4,000 6,000
2,000 3,000
0 0
2016 2017 2016 2017
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Automotive

Communication

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+48% YoY +2% YoY
6,000 4,000
3,000 2,000
0 0
2016 2017 2016 2017
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營運現況與展望 - SLC NAND

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Accumulative design-win
case count of 36nm
431
362 [398 ]
320
280
227
123
49
0
16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4
2017 年第四季 NAND 營收分析
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 SLC NAND flash business

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• 因出貨價、量齊揚， NAND 業務較上季成長 48% 500
• 需求仍然強勁，將成為 2018 年的主要成長動力
250
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SLC NAND Flash equivalent density shipment

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Total density (Tb)
350,000
Density shipment index: 36 nm
2016Q1 =100
75 nm
437
120,000 175,000 Comm, 60%
Consumer,
311 100,000
279 276 32%
241 80,000
199
60,000 Others, 8%
40,000
20,000
0 0
Q3 Q4 17Q1 Q2 Q3 Q4 2015 2016 2017
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Index
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500
437
311
279 276
241
225
250 199
100
0
16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4
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2018 資本支出規劃

 Prudent investment in production

• 2018 年資本支出預算為 38.98 億元 ， 將使用於先進製程與生產效能 改善

• 產能利用率預計 2018 年持續滿載

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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