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Macronix Investor Presentation 2021

Mar 12, 2021

52013_rns_2021-03-12_320517d1-f7cc-4fee-9fb1-fa34f6625222.pdf

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旺宏電子 2020 年第四季法人說明會

January 27, 2021

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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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2020 年第四季營運概況

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2019 第四季 2020 第三季 2020 第四季
查核數 核閱數 自結數 18Q4 19Q4 20Q4
QoQ QoQ QoQ
營收淨額 18Q4 19Q4 20Q4
NT$ 9.6 NT$ 11.0 NT$ 10.2 -7%
(NT$ 十億 ) -10%
-20%
35% 36%
31% 32%
26%
營業毛利率 26.2% 35.9% 32.4%
17%
15% 14%
營業淨利率 8.0% 17.1% 14.1% 8% 12%
1.01
0.83
0.76
基本每股盈餘 0.67
0.41 0.88 0.63 0.88
0.41
(NT$) 0.72
0.63
Q4 20Q1 Q2 Q3 Q4
Pre-tax EPS
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2020 年營運概況

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2019 2020
查核數 自結數
營收淨額
NT$ 35.0 NT$ 39.8
(NT$ 十億 )
34%
28%
營業毛利率 27.5% 33.7%
15%
9%
營業淨利率 8.9% 14.7%
3.18
基本每股盈餘 2.90
1.64 2.90 1.65
(NT$)
1.64
2019 2020
Pre-tax EPS
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2020 年第四季合併綜合損益比較表

單位：新台幣佰萬元
2019/Q4
2020/Q3
2020/Q4
(每股盈餘為元)
查核數
核閱數
自結數
營業收入淨額
9,581
10,957
10,158
營業毛利
2,506
3,934
3,287
營業毛利率
26.2%
35.9%
32.4%
營業費用
(1,744)
(2,063)
(1,850)
營業淨利
762
1,870
1,437
營業淨利率
8.0%
17.1%
14.1%
營業外收(支)
(168)
(9)
(84)
稅前淨利
594
1,861
1,353
所得稅費用(利益)
(160)
244
197
本期淨利
754
1,618
1,156
基本每股盈餘-- NT$ 0.41
0.88
0.63
EBITDA
1,405
2,905
2,431
流通在外加權平均股數
1,836
1,838
1,843		 2019/Q4
2020/Q3
2020/Q4
查核數
核閱數
自結數		 QoQ
YoY
Change
Change
(7%)
6%
(16%)
31%
(3.5ppt)
6.2ppt
(10%)
6%
(23%)
89%
(3.0ppt)
6.1ppt
(27%)
128%
(29%)
53%
9,581
10,957
10,158
2,506
3,934
3,287
26.2%
35.9%
32.4%
(1,744)
(2,063)
(1,850)
762
1,870
1,437
8.0%
17.1%
14.1%
(168)
(9)
(84)
594
1,861
1,353
(160)
244
197
754
1,618
1,156

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2020 年合併綜合損益比較表

單位：新台幣佰萬元
(每股盈餘為元)
營業收入淨額
34,995
39,801
營業毛利
9,615
13,409
營業毛利率
27.5%
33.7%
營業費用
(6,517)
(7,543)
營業淨利
3,099
5,866
營業利益率
8.9%
14.7%
營業外收(支)
(73)
(25)
稅前淨利
3,026
5,841
所得稅費用(利益)
13
515
本期淨利
3,013
5,326
基本每股盈餘-- NT$ 1.64
2.90
EBITDA
5,954
9,834
流通在外加權平均股數
1,832
1,839
2019
查核數
2020
自結數		 34,995
39,801
9,615
13,409
27.5%
33.7%
(6,517)
(7,543)
3,099
5,866
8.9%
14.7%
(73)
(25)
3,026
5,841
13
515
3,013
5,326
2019
查核數
2020
自結數		 YoY
Change
14%
39%
6.2ppt
16%
89%
5.8ppt
-
93%
-
77%

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2020Q4 財務重要資訊

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2018 2019 2020
Sales 36,953M 34,995M 39,801M
NTD M 80%
11,906
12,000 10,957
Margin%
10,158
10,030
9,581
10,000 9 ,061 8,981 9,415 9,271 60%
8,880
7,479
45%
8,000
42%
35% 6,029 35% 36% 40%
6,000 31% 32%
30%
28% 27%
26%
25%
4,000
20%
2,000
0 0%
18Q1 Q2 Q3 Q4 19Q1 Q2 Q3 Q4 20Q1 Q2 Q3 Q4
Gross Margin%
Net Sales Gross Profit
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2020 年第四季合併簡明資產負債表

單位：新台幣佰萬元 2019/12/31 2020/09/30 2020/12/31 流動比率
(%)		 流動比率
(%)
(每股淨值為元) 查核數 核閱數 自結數 208
現金及約當現金 8,725 7,798 11,879 170 171 181 182
存貨(淨額) 12,810 12,485 12,945
固定資產 29,366 30,812 31,463
總資產 60,657 62,528 65,892
短期應討息負債
長期應計息負債		 4,817
9,774		 4,462
10,030		 5,412
10,737		 46.4 負債比率
(%)
43.4
45.8		 44.5 45.1
總負債 28,164 27,838 29,698
負債佔資產比率(%) 46.4% 44.5% 45.1%
股東權益
股東權益報酬率(年化)
每股淨值-- NT$		 32,493
9%
17.68		 34,691
17%
18.71		 36,194
16%
19.52		 9% 股東權益
報酬率
15%
16%		 17% 16%
19Q4 20Q1 Q2 Q3 Q4

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2020 年第四季合併簡明現金流量資訊

單位：新台幣佰萬元
2020/Q3
核閱數
2020/Q4
自結數		 2019
查核數
2020
自結數
營業活動之淨現金流入
1,486
4,237		 4,543
9,855
折舊 & 攤銷
977
1,011		 2,731
3,746
投資活動之淨現金流出
(2,573)
(1,754)		 (12,404)
(6,043)
資本支出
(2,577)
(1,760)		 (12,788)
(6,080)
籌資活動之淨現金流出
(997)
1,636		 3,046
(579)
發放現金股利
(2,206)
-		 (2,206)
(2,206)
現金及約當現金淨增加(減少)*
(2,092)
4,081		 (4,886)
3,154
期末現金及約當現金餘額
7,798
11,879		 8,725
11,879
自由現金流量**
(1,091)
2,478		 (8,245)
3,775

* 現金淨變動包含匯率變動之影響數

  • ** 自由現金流量 = 營業活動現金流量 - 資本支出

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- 2020 年第四季銷售額分析 產品別 ( 母公司 )

單位：新台幣佰萬元

12,000

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9%
9%
14%
9,000 9% 20%
38%
26%37%
QoQ YoY
43%
48
11% Change Change
11%
6,000 11%48% %
NAND -13% +1%
44%
53%
NOR -10% -7%
58%
63%
46% 45% ROM -8% +15%
3,000
43%
32% FBG +17% +75%
25%
28%3 22%
17% * FBG (foundry business group)
8% 9%7% 6%8%
9%
5% 7%
0
2019Q4 2020Q3 2020Q4
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- 2020 年銷售額分析 產品別 ( 母公司 )

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單位：新台幣佰萬元
40,000
10%
14%
20%
10% YoY
30,000 26% Change
42%
48
11%
11% 44% 11%48% % NAND +9%
NOR +7%
20,000
44 %
53%
58% ROM +20%
63%
FBG +27%
41%
10,000 25% 32%
39%
28%3 22% * FBG (foundry business group)
17%
8% 9%7% 6%8%
7% 7%
0
2019 2020
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營運現況 - ROM

ROM business

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• ≥ 64Gb 容量產品佔 2020 年第四季 ROM 營收 58%
3,784
4,000
Density shipment index: 2016Q1 =100
2,816
2,558
2,477
2,414
2,013
1,923
1,774
2,000 1,701
1,372
1,225
1,086
898
730 694
436 403
316
100 79
0
16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4 18Q1 Q2 Q3 Q4 19Q1 Q2 Q3 Q4 20Q1 Q2 Q3 Q4
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營運現況 - NOR Flash

200

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Density shipment index: 2016Q1 =100
157
148
146 144
141
135
130
127 127
121 120
119
113 112
106
100
100
95 95
100 93
0
16Q1 Q2 Q3 Q4 17Q1 Q2 Q3 Q4 18Q1 Q2 Q3 Q4 19Q1 Q2 Q3 Q4 20Q1 Q2 Q3 Q4
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- 營運現況 Flash

Flash business

  • ≤75nm 製程產品佔 2020 年第四季 NOR 營收 73%

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7,000
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3,500
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Accumulative design-win case count
6,125
4,872
4,068
More than 35% from
Industrial applications
2,239
1,375
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0
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16Q1Q2 Q3 Q417Q1Q2 Q3 Q418Q1Q2 Q3 Q419Q1Q2 Q3 Q420Q1Q2 Q3 Q4

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營運現況 – NOR flash ( 母公司 )

NTD %

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NOR breakdown by density
14%
22%
31%
36%
High
49%
45%
40%
38% Mid
(32Mb~128Mb)
37%
33%
29%
26%
Low
2017 2018 2019 2020
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營運現況 - NOR Flash ( 母公司 )

2020Q3 NOR 營收-產品應用

2020Q4 NOR 營收-產品應用

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通訊相關 ,
消費性電子 ,
41%
13%
電腦相關 , 工規 / 醫
車用電子 ,
22% 療 / 航太 ,
13%
11%
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通訊相關 ,
消費性電子 ,
29%
18%
電腦相關 , 工規 / 醫療 車用電子 ,
23% / 航太 , 17%
13%
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* 通訊相關:包含手機應用

2020Q4 NOR 營收分析-產品應用

電腦相關 -4% QoQ

-8% YoY

消費性電子 通訊相關 車用電子 工規/醫療/航太 +32% QoQ -34% QoQ +23% QoQ +5% QoQ -8% YoY -22% YoY +13% YoY +11% YoY

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營運現況 - NOR Flash ( 母公司 )

2019 年 NOR 營收-產品應用

2020 年 NOR 營收-產品應用

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消費性電子 , 通訊相關 ,
19% 33%
電腦相關 , 工規 / 醫 車用電子 ,
22% 療 / 航太 , 14%
12%
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消費性電子 , 通訊相關 ,
15% 36%
電腦相關 , 工規 / 醫療 車用電子 ,
22% / 航太 , 14%
13%
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* 通訊相關:包含手機應用

2020 年 NOR 營收分析-產品應用

電腦相關 消費性電子 通訊相關 車用電子 工規/醫療/航太 +5% YoY -18% YoY +18% YoY +2% YoY +18% YoY

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Copyright © Macronix International Co., Ltd. 16
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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]

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