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NTC Interim / Quarterly Report 2019

Jul 10, 2019

52061_rns_2019-07-10_3a9a17a1-dff5-4a48-8a06-cd532ed57ab9.pdf

Interim / Quarterly Report

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Presentation to Investors and Analysts, 10 July 2019 Dr. Pei-Ing Lee , President & Spokesman

NTC Proprietary Level: Property

April 16, 2019 © 2019 Nanya July 10, 2019 © 2019 Nanya Technology Corp. Technology Corp.

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Safe Harbor

The information herein and the presentation made during the conference contain forward-looking statements and are provided for information purposes only. Neither Nanya Technology Corp. nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements or undertakes duty to update the statements. You are urged to review the information provided herein carefully, and please don’t distribute, reproduce or disclose the information in whole or in part without prior written permission of NANYA Technology Corp.

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Agenda

01. Q2’19 Revenue & Results
02. CAPEX & Bit Shipment
03. Market Outlook
04. Business Review & Outlook

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01 Q2’19 REVENUE & RESULTS

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July 10, 2019 © 2019 Nanya Technology Corp.

Q2’19 Financial Results Summary
Amount in Million NT$,
except for EPS & BVPS
Q2'19
Q1'19
QoQ
Q2'18
YoY
Unaudited
Audited
Audited
Net Sales
12,441
100%
11,372
100%
9.4%
24,592
100%
-49.4%
Gross Profit (Loss)Gross Margin(%)
4,348
34.9%
4,633
40.7%
-6.1%
13,537 55.0% -67.9%
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-7.1%
11,510
46.8% -75.6%
EBITDA EBITDA Margin (%)
6,427
51.7%
6,381
56.1%
0.7%
14,495 58.9% -55.7%
Non-operating Income (Expense)
601
4.8%
567
5.0%
1,990
8.1%
Income Tax Benefit (Expense)
-657
-5.3%
0
0.0%
-2,190
-8.9%
Net Income (Loss)Net Margin (%)
2,749
22.1%
3,586
31.5%
-23.3%
11,310
46.0% -75.7%
Earnings Per Share (NT$)
0.90
1.18
3.68
Book Value Per Share (NT$)
49.01**
55.26
47.37
Shares Outstanding(million shares)
3,052
3,034
3,101		 Q2’19 Financial Results Summary
Amount in Million NT$,
except for EPS & BVPS
Q2'19
Q1'19
QoQ
Q2'18
YoY
Unaudited
Audited
Audited
Net Sales
12,441
100%
11,372
100%
9.4%
24,592
100%
-49.4%
Gross Profit (Loss)Gross Margin(%)
4,348
34.9%
4,633
40.7%
-6.1%
13,537 55.0% -67.9%
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-7.1%
11,510
46.8% -75.6%
EBITDA EBITDA Margin (%)
6,427
51.7%
6,381
56.1%
0.7%
14,495 58.9% -55.7%
Non-operating Income (Expense)
601
4.8%
567
5.0%
1,990
8.1%
Income Tax Benefit (Expense)
-657
-5.3%
0
0.0%
-2,190
-8.9%
Net Income (Loss)Net Margin (%)
2,749
22.1%
3,586
31.5%
-23.3%
11,310
46.0% -75.7%
Earnings Per Share (NT$)
0.90
1.18
3.68
Book Value Per Share (NT$)
49.01**
55.26
47.37
Shares Outstanding(million shares)
3,052
3,034
3,101		 Q2’19 Financial Results Summary
Amount in Million NT$,
except for EPS & BVPS
Q2'19
Q1'19
QoQ
Q2'18
YoY
Unaudited
Audited
Audited
Net Sales
12,441
100%
11,372
100%
9.4%
24,592
100%
-49.4%
Gross Profit (Loss)Gross Margin(%)
4,348
34.9%
4,633
40.7%
-6.1%
13,537 55.0% -67.9%
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-7.1%
11,510
46.8% -75.6%
EBITDA EBITDA Margin (%)
6,427
51.7%
6,381
56.1%
0.7%
14,495 58.9% -55.7%
Non-operating Income (Expense)
601
4.8%
567
5.0%
1,990
8.1%
Income Tax Benefit (Expense)
-657
-5.3%
0
0.0%
-2,190
-8.9%
Net Income (Loss)Net Margin (%)
2,749
22.1%
3,586
31.5%
-23.3%
11,310
46.0% -75.7%
Earnings Per Share (NT$)
0.90
1.18
3.68
Book Value Per Share (NT$)
49.01**
55.26
47.37
Shares Outstanding(million shares)
3,052
3,034
3,101		 Q2’19 Financial Results Summary
Amount in Million NT$,
except for EPS & BVPS
Q2'19
Q1'19
QoQ
Q2'18
YoY
Unaudited
Audited
Audited
Net Sales
12,441
100%
11,372
100%
9.4%
24,592
100%
-49.4%
Gross Profit (Loss)Gross Margin(%)
4,348
34.9%
4,633
40.7%
-6.1%
13,537 55.0% -67.9%
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-7.1%
11,510
46.8% -75.6%
EBITDA EBITDA Margin (%)
6,427
51.7%
6,381
56.1%
0.7%
14,495 58.9% -55.7%
Non-operating Income (Expense)
601
4.8%
567
5.0%
1,990
8.1%
Income Tax Benefit (Expense)
-657
-5.3%
0
0.0%
-2,190
-8.9%
Net Income (Loss)Net Margin (%)
2,749
22.1%
3,586
31.5%
-23.3%
11,310
46.0% -75.7%
Earnings Per Share (NT$)
0.90
1.18
3.68
Book Value Per Share (NT$)
49.01**
55.26
47.37
Shares Outstanding(million shares)
3,052
3,034
3,101		 Q2’19 Financial Results Summary
Amount in Million NT$,
except for EPS & BVPS
Q2'19
Q1'19
QoQ
Q2'18
YoY
Unaudited
Audited
Audited
Net Sales
12,441
100%
11,372
100%
9.4%
24,592
100%
-49.4%
Gross Profit (Loss)Gross Margin(%)
4,348
34.9%
4,633
40.7%
-6.1%
13,537 55.0% -67.9%
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-7.1%
11,510
46.8% -75.6%
EBITDA EBITDA Margin (%)
6,427
51.7%
6,381
56.1%
0.7%
14,495 58.9% -55.7%
Non-operating Income (Expense)
601
4.8%
567
5.0%
1,990
8.1%
Income Tax Benefit (Expense)
-657
-5.3%
0
0.0%
-2,190
-8.9%
Net Income (Loss)Net Margin (%)
2,749
22.1%
3,586
31.5%
-23.3%
11,310
46.0% -75.7%
Earnings Per Share (NT$)
0.90
1.18
3.68
Book Value Per Share (NT$)
49.01**
55.26
47.37
Shares Outstanding(million shares)
3,052
3,034
3,101		 Q2’19 Financial Results Summary
Amount in Million NT$,
except for EPS & BVPS
Q2'19
Q1'19
QoQ
Q2'18
YoY
Unaudited
Audited
Audited
Net Sales
12,441
100%
11,372
100%
9.4%
24,592
100%
-49.4%
Gross Profit (Loss)Gross Margin(%)
4,348
34.9%
4,633
40.7%
-6.1%
13,537 55.0% -67.9%
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-7.1%
11,510
46.8% -75.6%
EBITDA EBITDA Margin (%)
6,427
51.7%
6,381
56.1%
0.7%
14,495 58.9% -55.7%
Non-operating Income (Expense)
601
4.8%
567
5.0%
1,990
8.1%
Income Tax Benefit (Expense)
-657
-5.3%
0
0.0%
-2,190
-8.9%
Net Income (Loss)Net Margin (%)
2,749
22.1%
3,586
31.5%
-23.3%
11,310
46.0% -75.7%
Earnings Per Share (NT$)
0.90
1.18
3.68
Book Value Per Share (NT$)
49.01**
55.26
47.37
Shares Outstanding(million shares)
3,052
3,034
3,101
Amount in Million NT$,
except for EPS & BVPS		 Q2'19 Q1'19 QoQ Q2'18 YoY
Unaudited Audited Audited
Net Sales 12,441
100%		 11,372
100%		 9.4% 24,592
100%		 -49.4%
Gross Profit (Loss)Gross Margin(%) 4,348
34.9%		 4,633
40.7%		 -6.1% 13,537 55.0% -67.9%
Operating Income (Loss)
Operating Margin(%)		 2,805
22.5%		 3,020
26.6%		 -7.1% 11,510
46.8%		 -75.6%
EBITDA* EBITDA Margin (%) 6,427
51.7%		 6,381
56.1%		 0.7% 14,495 58.9% -55.7%
Non-operating Income (Expense) 601
4.8%		 567
5.0%		 1,990
8.1%
Income Tax Benefit (Expense) -657
-5.3%		 0
0.0%		 -2,190
-8.9%
Net Income (Loss)Net Margin (%) 2,749
22.1%		 3,586
31.5%		 -23.3% 11,310
46.0%		 -75.7%
Earnings Per Share (NT$) 0.90** 1.18 3.68
Book Value Per Share (NT$) 49.01*** 55.26 47.37
Shares Outstanding(million shares) 3,052 3,034 3,101

Note: * EBITDA = Operating income + Depreciation & Amortization Expenses

  • ** EPS is based on weighted average outstanding shares of 3,040M

  • *** BVPS is calculated based on 3,052M outstanding shares after deduction of NT$ 7.11 cash dividend payable

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Quarterly Revenue Results
QoQ YoY
Q2 ’19 vs. Q1’19 Q2’19 vs. Q2’18
Revenue +9.4% -49.4%
Shipment Increased >thirtys % Decreased teens %
ASP Decreased mid teens % Decreased high teens %
Exchange Rate +0.9% +2.8%
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Quarterly Revenue Results

  • Q2’19 Revenue increased by 9.4% QoQ

  • Q2’19 Bit shipment increased > thirtys% QoQ

  • Q2’19 ASP decreased mid teens% QoQ

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Q2’19 vs. Q1’19 Results Comparison
Q2’19
Q1’19
QoQ
(PPT* Delta)
Remarks
Amount in Million NT$ Unaudited
Audited
Net Sales
12,441
11,372

ASP decreased by mid-teens% QoQ

Bit shipment increased by >thirtys% QoQ
Gross Profit (Loss)
Gross Margin(%)
4,348
34.9%
4,633
40.7%
-5.8%

Q2’19 Gross profit decreased NT$ 285M,
mainly due to ASP drop, shipment
increase and cost improvement
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-4.1%

Q2’19 OP Income decreased NT$ 214M

Gross profit decreased NT$ 285M

SG&A increased NT$ 19M, R&D
expense decreased NT$ 89M
Net Income (Loss)
Net Margin (%)
2,749
22.1%
3,586
31.5%
-9.4%

Net Income decreased NT$ 837M

OP Income decreased NT$ 214M

Income tax increased NT$ 656M		 Q2’19 vs. Q1’19 Results Comparison
Q2’19
Q1’19
QoQ
(PPT* Delta)
Remarks
Amount in Million NT$ Unaudited
Audited
Net Sales
12,441
11,372

ASP decreased by mid-teens% QoQ

Bit shipment increased by >thirtys% QoQ
Gross Profit (Loss)
Gross Margin(%)
4,348
34.9%
4,633
40.7%
-5.8%

Q2’19 Gross profit decreased NT$ 285M,
mainly due to ASP drop, shipment
increase and cost improvement
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-4.1%

Q2’19 OP Income decreased NT$ 214M

Gross profit decreased NT$ 285M

SG&A increased NT$ 19M, R&D
expense decreased NT$ 89M
Net Income (Loss)
Net Margin (%)
2,749
22.1%
3,586
31.5%
-9.4%

Net Income decreased NT$ 837M

OP Income decreased NT$ 214M

Income tax increased NT$ 656M		 Q2’19 vs. Q1’19 Results Comparison
Q2’19
Q1’19
QoQ
(PPT* Delta)
Remarks
Amount in Million NT$ Unaudited
Audited
Net Sales
12,441
11,372

ASP decreased by mid-teens% QoQ

Bit shipment increased by >thirtys% QoQ
Gross Profit (Loss)
Gross Margin(%)
4,348
34.9%
4,633
40.7%
-5.8%

Q2’19 Gross profit decreased NT$ 285M,
mainly due to ASP drop, shipment
increase and cost improvement
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-4.1%

Q2’19 OP Income decreased NT$ 214M

Gross profit decreased NT$ 285M

SG&A increased NT$ 19M, R&D
expense decreased NT$ 89M
Net Income (Loss)
Net Margin (%)
2,749
22.1%
3,586
31.5%
-9.4%

Net Income decreased NT$ 837M

OP Income decreased NT$ 214M

Income tax increased NT$ 656M		 Q2’19 vs. Q1’19 Results Comparison
Q2’19
Q1’19
QoQ
(PPT* Delta)
Remarks
Amount in Million NT$ Unaudited
Audited
Net Sales
12,441
11,372

ASP decreased by mid-teens% QoQ

Bit shipment increased by >thirtys% QoQ
Gross Profit (Loss)
Gross Margin(%)
4,348
34.9%
4,633
40.7%
-5.8%

Q2’19 Gross profit decreased NT$ 285M,
mainly due to ASP drop, shipment
increase and cost improvement
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-4.1%

Q2’19 OP Income decreased NT$ 214M

Gross profit decreased NT$ 285M

SG&A increased NT$ 19M, R&D
expense decreased NT$ 89M
Net Income (Loss)
Net Margin (%)
2,749
22.1%
3,586
31.5%
-9.4%

Net Income decreased NT$ 837M

OP Income decreased NT$ 214M

Income tax increased NT$ 656M		 Q2’19 vs. Q1’19 Results Comparison
Q2’19
Q1’19
QoQ
(PPT* Delta)
Remarks
Amount in Million NT$ Unaudited
Audited
Net Sales
12,441
11,372

ASP decreased by mid-teens% QoQ

Bit shipment increased by >thirtys% QoQ
Gross Profit (Loss)
Gross Margin(%)
4,348
34.9%
4,633
40.7%
-5.8%

Q2’19 Gross profit decreased NT$ 285M,
mainly due to ASP drop, shipment
increase and cost improvement
Operating Income (Loss)
Operating Margin(%)
2,805
22.5%
3,020
26.6%
-4.1%

Q2’19 OP Income decreased NT$ 214M

Gross profit decreased NT$ 285M

SG&A increased NT$ 19M, R&D
expense decreased NT$ 89M
Net Income (Loss)
Net Margin (%)
2,749
22.1%
3,586
31.5%
-9.4%

Net Income decreased NT$ 837M

OP Income decreased NT$ 214M

Income tax increased NT$ 656M
Q2’19 Q1’19 QoQ
(PPT* Delta)		 Remarks
Amount in Million NT$ Unaudited Audited
Net Sales 12,441 11,372
ASP decreased by mid-teens% QoQ

Bit shipment increased by >thirtys% QoQ
Gross Profit (Loss)
Gross Margin(%)		 4,348
34.9%		 4,633
40.7%		 -5.8%
Q2’19 Gross profit decreased NT$ 285M,
mainly due to ASP drop, shipment
increase and cost improvement
Operating Income (Loss)
Operating Margin(%)		 2,805
22.5%		 3,020
26.6%		 -4.1%
Q2’19 OP Income decreased NT$ 214M

Gross profit decreased NT$ 285M

SG&A increased NT$ 19M, R&D
expense decreased NT$ 89M
Net Income (Loss)
Net Margin (%)		 2,749
22.1%		 3,586
31.5%		 -9.4%
Net Income decreased NT$ 837M

OP Income decreased NT$ 214M

Income tax increased NT$ 656M

*PPT: Percentage Points

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Quarterly Financial Highlights
80%
Revenue (Million NT$) Net Income (Million NT$) Gross Margin(%) Operating Margin(%)
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Quarterly Financial Highlights

40,000

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58.9%
55%
51.0%52.9%
52%
50% 47%
44% 44% 44% 41.8%
39% 40.7%
40%
34.9%
20,000 40%
33% 32% 33% 32%
31% 31%
28%
26.6%
25% 12,441
21%
18% 22.5%
17%
2,749
- 0%
Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 Q2'19
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Operating Expenses

SG&A Expenses

  • Unaudited number

(Million NT$)

R&D Expenses

(Million NT$)

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* Unaudited number
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NT$4,888

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NT$2,373
Q4
1,318
562
Q3
596 1,336
＊
Q2
669 ＊ 1,358 1,059
483
546 465 Q1 876 1,148
2018 2019 2018 2019
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Cash Flows

1H 2019 Cash Flow

Q2'19 Q1'19
Unit: Million NT$ Unaudited &
Consolidated		 Audited &
Consolidated
Beginning Balance 60,374 57,384
Cash from Operating
Activities
853
-1,827
714*		 5,916
Capital expenditures -1,723
Investments and
others		 -1,203***
Ending Balance 60,115 60,374
Free Cash Flow(1) -973 4,193

  • (1) Free Cash Flow = Cash from operating activities – Capital expenditures

  • Including retained earnings tax NT$ 2.5B

** Mainly from Employees’ exercise of ESOP NT$ 613M

*** Mainly for share buyback of NT$ 1,030M

Unit: Million NT$

-3,549 -489 6,769 Capital[Investments] Expenditures and others Cash from Operating Activities 57,384 60,115

2019/1/1 2019/6/30 Beginning Ending Balance Balance

1H 2019 Free Cash Flow NT$3,219 Million

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02 CAPEX & BIT SHIPMENT

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CAPEX & Bit Shipment
NT$ Billion
29.4
mid thirty %
20.4
7.0 Single
digits%
Flat
2017 2018 2019(E) 2017 2018 2019(E)
CAPEX Bit Shipment (YoY)
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CAPEX & Bit Shipment

Capital Expenditure (CAPEX)

  • 1H’19 CAPEX NT$ 3.5Billion (B)

  • 2019 CAPEX plan approx. NT$ 7B

  • Q2’19 Bit shipment increased by > thirtys%

Bit Shipment

  • Q3’19 Bit shipment growth guided for mid-teens%

  • 2019 Bit shipment growth guided for single digits%

  • Continue allocating 5~10% capacity to technology & product development

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03 MARKET OUTLOOK

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DRAM Market outlook

  • Macro : Macro economics uncertainties continued; customer inventory reduced, suppliers’ inventory remained high. DRAM supply-demand gradually balanced and pricing decline

  • Outlook narrowing

  • Sectors Outlook : 2H’19 server demand improving, new smartphone models launch, CPU supply increase, Consumer seasonality demand increase

Supply  Capital expenditures reduction and inventory adjustment continued

  • Mobile Market ： 2H’19 new smartphone models introduction, and content per box increase. 5G high end phones introduce with 8GB, which continue to drive DRAM demand growth gradually

  • Server Market ： Data center customers’ inventory declined, and bit demand recovery from

  • Demand Q3’19 expected. Bit demand anticipate to grow steady in long term, mainly from enterprise cloud services, and the development of AI and networking continue to drive server demand

  • PC Market ： Q3’19 CPU supply resumed normal. Major PC brands introduced new models  Consumer Market ： Set-top boxes, smart speakers, SSDs, and IP CAMs DRAM content grow expected

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04 BUSINESS REVIEW & OUTLOOK

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Nanya Business Review & Outlook

  • Q2’19 bit shipment improved across all segments

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  • Q3’19 bit demand expected to be better than Q2’19

  • 2H’19 DRAM supply-demand gradually balanced and pricing decline narrowing

  • Cash dividend of NT$ 21.7B (NT$ 7.11 per common share) scheduled to be

  • distributed on July 26, 2019

  • No new Capex planned for 2H’19 and allocating 5~10% capacity to technology

  • & product development activities

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Thanks & Questions

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Q2’19 Consolidated Income Statement Q2’19 Consolidated Income Statement Q2’19 Consolidated Income Statement Q2’19 Consolidated Income Statement Q2’19 Consolidated Income Statement Q2’19 Consolidated Income Statement Q2’19 Consolidated Income Statement Q2’19 Consolidated Income Statement
Q2'19 Q1'19 QoQ Q2’18 YoY
Amount: Million NT$
Unaudited		 Audited Audited
Net Sales 12,441
100.0%		 11,372
100.0%		 9.4% 24,592
100.0%		 -49.4%
Cost of Goods Sold 8,093
65.1%		 6,739
59.3%		 11,055
45.0%
Gross Margin 4,348
34.9%		 4,633
40.7%		 -6.1% 13,537
55.0%		 -67.9%
SG&A Expenses 483
3.9%		 465
4.1%		 669
2.7%
R&D Expenses 1,059
8.5%		 1,148
10.1%		 1,358
5.5%
Operating Income 2,805
22.5%		 3,020
26.6%		 -7.1% 11,510
46.8%		 -75.6%
Non-operating Income (Exp.) 601
4.8%		 567
5.0%		 1,990
8.1%
Income before Tax 3,406
27.4%		 3,586
31.5%		 -5.0% 13,500
54.9%		 -74.8%
Income Tax Benefit (Expense) -657
-5.3%		 0
0.0%		 -2,190
-8.9%
Net Income 2,749
22.1%		 3,586
31.5%		 11,310
46.0%
Net income attributable to
noncontrolling interests		 0 0
0.0%		 0
0.0%
Net Income attributable to NTC 2,749
22.1%		 3,586
31.5%		 -23.3% 11,310
46.0%		 -75.7%
EPS(NT$) 0.90 1.18 3.68
Book Value Per Share 49.01 55.26 47.37

18

July 10, 2019 © 2019 Nanya Technology Corp.

1H’19 Financial Results Summary
1H’19
1H’18
YoY
Amount: Million NT$ Unaudited & Consolidated Audited & Consolidated
Net Sales
23,813
100.0%
43,390
100.0%
-45.1%
Cost of Goods Sold
14,832
62.3%
20,112
46.4%
Gross Margin
8,980
37.7%
23,278
53.6%
-61.4%
SG&A Expenses
948
4.0%
1,215
2.8%
R&D Expenses
2,207
9.3%
2,234
5.1%
Operating Income
5,825
24.5%
19,829
45.7%
-70.6%
Non-operating Income (Exp.)
1,168
4.9%
898
2.1%
Income before Tax
6,992
29.4%
20,727
47.8%
-66.3%
Income Tax Benefit (Expense)
-657
-2.8%
-2,191
-5.1%
Net Income
6,335
26.6%
18,536
42.7%
Net Income attributable to
noncontrolling interests
0
-1
Net Income attributable to NTC
6,335
26.6%
18,537
42.7%
-65.8%
EPS(NT$)
2.09
6.07		 1H’19 Financial Results Summary
1H’19
1H’18
YoY
Amount: Million NT$ Unaudited & Consolidated Audited & Consolidated
Net Sales
23,813
100.0%
43,390
100.0%
-45.1%
Cost of Goods Sold
14,832
62.3%
20,112
46.4%
Gross Margin
8,980
37.7%
23,278
53.6%
-61.4%
SG&A Expenses
948
4.0%
1,215
2.8%
R&D Expenses
2,207
9.3%
2,234
5.1%
Operating Income
5,825
24.5%
19,829
45.7%
-70.6%
Non-operating Income (Exp.)
1,168
4.9%
898
2.1%
Income before Tax
6,992
29.4%
20,727
47.8%
-66.3%
Income Tax Benefit (Expense)
-657
-2.8%
-2,191
-5.1%
Net Income
6,335
26.6%
18,536
42.7%
Net Income attributable to
noncontrolling interests
0
-1
Net Income attributable to NTC
6,335
26.6%
18,537
42.7%
-65.8%
EPS(NT$)
2.09
6.07		 1H’19 Financial Results Summary
1H’19
1H’18
YoY
Amount: Million NT$ Unaudited & Consolidated Audited & Consolidated
Net Sales
23,813
100.0%
43,390
100.0%
-45.1%
Cost of Goods Sold
14,832
62.3%
20,112
46.4%
Gross Margin
8,980
37.7%
23,278
53.6%
-61.4%
SG&A Expenses
948
4.0%
1,215
2.8%
R&D Expenses
2,207
9.3%
2,234
5.1%
Operating Income
5,825
24.5%
19,829
45.7%
-70.6%
Non-operating Income (Exp.)
1,168
4.9%
898
2.1%
Income before Tax
6,992
29.4%
20,727
47.8%
-66.3%
Income Tax Benefit (Expense)
-657
-2.8%
-2,191
-5.1%
Net Income
6,335
26.6%
18,536
42.7%
Net Income attributable to
noncontrolling interests
0
-1
Net Income attributable to NTC
6,335
26.6%
18,537
42.7%
-65.8%
EPS(NT$)
2.09
6.07		 1H’19 Financial Results Summary
1H’19
1H’18
YoY
Amount: Million NT$ Unaudited & Consolidated Audited & Consolidated
Net Sales
23,813
100.0%
43,390
100.0%
-45.1%
Cost of Goods Sold
14,832
62.3%
20,112
46.4%
Gross Margin
8,980
37.7%
23,278
53.6%
-61.4%
SG&A Expenses
948
4.0%
1,215
2.8%
R&D Expenses
2,207
9.3%
2,234
5.1%
Operating Income
5,825
24.5%
19,829
45.7%
-70.6%
Non-operating Income (Exp.)
1,168
4.9%
898
2.1%
Income before Tax
6,992
29.4%
20,727
47.8%
-66.3%
Income Tax Benefit (Expense)
-657
-2.8%
-2,191
-5.1%
Net Income
6,335
26.6%
18,536
42.7%
Net Income attributable to
noncontrolling interests
0
-1
Net Income attributable to NTC
6,335
26.6%
18,537
42.7%
-65.8%
EPS(NT$)
2.09
6.07
1H’19 1H’18 YoY
Amount: Million NT$ **Unaudited & Consolidated ** Audited & Consolidated
Net Sales 23,813
100.0%		 43,390
100.0%		 -45.1%
Cost of Goods Sold 14,832
62.3%		 20,112
46.4%
Gross Margin 8,980
37.7%		 23,278
53.6%		 -61.4%
SG&A Expenses 948
4.0%		 1,215
2.8%
R&D Expenses 2,207
9.3%		 2,234
5.1%
Operating Income 5,825
24.5%		 19,829
45.7%		 -70.6%
Non-operating Income (Exp.) 1,168
4.9%		 898
2.1%
Income before Tax 6,992
29.4%		 20,727
47.8%		 -66.3%
Income Tax Benefit (Expense) -657
-2.8%		 -2,191
-5.1%
Net Income 6,335
26.6%		 18,536
42.7%
Net Income attributable to
noncontrolling interests		 0 -1
Net Income attributable to NTC 6,335
26.6%		 18,537
42.7%		 -65.8%
EPS(NT$) 2.09 6.07

1H’19 Financial Results Summary

19

July 10, 2019 © 2019 Nanya Technology Corp.

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