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TXC — Investor Presentation 2018
Nov 21, 2018
52274_rns_2018-11-21_8dea3fdc-6a7a-49fd-b0b8-0c4d0d954c62.pdf
Investor Presentation
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Investor Conference Nov 22[nd] , 2018
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TXC Confidential and Proprietary
Disclaimer
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Except for statements in respect of historical matters, the statements in this release are forwardlooking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual performance, financial condition or results of operations of TXC to be materially different form what may be implied by such forwardlooking statements.
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The financial forecasts and forward-looking statements in the release reflect the current belief of TXC as of the date of this release and TXC undertakes no obligation to update these forecasts and forward-looking statements for events or circumstances that occur subsequent to such date.
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The statements in respect of historical matters may contain unaudited information, which may have certain deficiency or weakness so as not to fairly present financial condition or the results of operations of TXC.
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TXC Confidential and Proprietary
1
Financial Performance P&L, EPS, DPS, CAPEX
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TXC Confidential and Proprietary
2
Quarterly Performance
Unit: $NT in Million
2016: 9,637M 2017: 8,781M (yoy +4.0%) (yoy -8.9%)
| 16.Q1 | 16.Q2 | 16.Q3 | 16.Q4 | 17.Q1 | 17.Q2 | 17.Q3 | 17.Q4 | 18.Q1 | 18.Q2 | 18.Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue(QoQ) | -15.4% | 8.3% | 13.9% | 1.7% | -19.3% | -0.9% | 7.2% | 0.1% | -17.6% | -0.4% | 21.8% |
| Revenue(YoY) | -1.2% | 2.9% | 7.6% | 6.0% | 1.1% | -7.5% | -12.8% | -14.2% | -12.4% | -11.9% | 0.0% |
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TXC Confidential and Proprietary
3
Quarterly Performance
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Unit: $NT in Million
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Gross Margin(%)
| Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
Profit 2016: 2,554M (yoy +14.3%) 2017: 2,185M (yoy -14.4%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Gross Profit(QoQ) -3.3% -7.3% 20.0% 3.2% -13.9% -14.9% 4.3% -0.2% -22.4% 0.1% 23.6% Gross Profit(YoY) 14.4% 15.2% 16.8% 11.0% -1.1% -9.2% -21.1% -23.7% -31.3% -19.2% -4.2% |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 16.Q1 | 16.Q2 | 16.Q3 | 16.Q4 | 17.Q1 | 17.Q2 | 17.Q3 | 17.Q4 | 18.Q1 | 18.Q2 | 18.Q3 | |
| Gross Profit(QoQ) | -3.3% | -7.3% | 20.0% | 3.2% | -13.9% | -14.9% | 4.3% | -0.2% | -22.4% | 0.1% | 23.6% |
| Gross Profit(YoY) | 14.4% | 15.2% | 16.8% | 11.0% | -1.1% | -9.2% | -21.1% | -23.7% | -31.3% | -19.2% | -4.2% |
Gross Profit
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TXC Confidential and Proprietary
4
Quarterly Performance
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Unit: $NT in Million
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Net Margin%
| et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
et Profit 2016: 1,016M (yoy +8.3%) 2017: 963M (yoy -5.3%) 16.Q1 16.Q2 16.Q3 16.Q4 17.Q1 17.Q2 17.Q3 17.Q4 18.Q1 18.Q2 18.Q3 Net Profit(QoQ) -11.1% -6.3% 27.3% 14.3% 4.1% -47.5% 34.8% 8.3% -65.8% 37.9% 108.7% Net Profit(YoY) 2.3% 19.7% -5.6% 21.3% 42.0% -20.5% -15.8% -20.3% -73.8% -31.3% 6.4% |
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| 16.Q1 | 16.Q2 | 16.Q3 | 16.Q4 | 17.Q1 | 17.Q2 | 17.Q3 | 17.Q4 | 18.Q1 | 18.Q2 | 18.Q3 | |
| Net Profit(QoQ) | -11.1% | -6.3% | 27.3% | 14.3% | 4.1% | -47.5% | 34.8% | 8.3% | -65.8% | 37.9% | 108.7% |
| Net Profit(YoY) | 2.3% | 19.7% | -5.6% | 21.3% | 42.0% | -20.5% | -15.8% | -20.3% | -73.8% | -31.3% | 6.4% |
Net Profit
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TXC Confidential and Proprietary
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Income Statement
| Unit：$NT in Million | 2013 | 2014 | 2015 | 2016 | 2017 | 2018'Q1~Q3 |
|---|---|---|---|---|---|---|
| Net Revenue | 9,504 | 9,526 | 9,266 | 9,637 | 8,782 | 5,999 |
| Gross Profit | 2,194 | 2,331 | 2,235 | 2,554 | 2,186 | 1,342 |
| Operating Profit | 951 | 1,004 | 908 | 1,114 | 802 | 387 |
| Non-Operating Items | 111 | 142 | 179 | 78 | 273 | 132 |
| Income before Tax Profit | 1,062 | 1,146 | 1,088 | 1,192 | 1,075 | 519 |
| Net Incom to Shareholders of the Parent Company |
935 | 995 | 938 | 1,016 | 963 | 441 |
| Basic EPS (NT$) | 3.02 | 3.21 | 3.03 | 3.28 | 3.11 | 1.43 |
| Gross Margin(%) | 23.1% | 24.5% | 24.1% | 26.5% | 24.9% | 22.4% |
| Operating Margin(%) | 10.0% | 10.5% | 9.8% | 11.6% | 9.1% | 6.4% |
| OPEX(%) | 13.1% | 13.9% | 14.3% | 14.9% | 15.8% | 15.9% |
| Income before Tax Profit(%) | 11.2% | 12.0% | 11.7% | 12.4% | 12.2% | 8.6% |
| Net Profit Margin(%) | 9.8% | 10.4% | 10.1% | 10.5% | 11.0% | 7.4% |
| ROA(%) | 7.2% | 7.5% | 6.4% | 6.7% | 6.8% | 4.5% |
| ROE(%) | 11.6% | 11.6% | 9.6% | 9.9% | 10.2% | 6.7% |
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TXC Confidential and Proprietary
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Balance Sheet
| Unit：$NT Million | 2013 | 2014 | 2015 | 2016 | 2017 | 2018'Q1~Q3 | |
|---|---|---|---|---|---|---|---|
| Cash & Marketable Securities | 1,830 | 1,768 | 2,728 | 2,093 | 2,331 | 1,673 | |
| NR+AR | 2,666 | 2,968 | 2,924 | 3,085 | 2,651 | 2,635 | |
| Inventories | 1,653 | 1,657 | 1,534 | 1,520 | 1,504 | 1,868 | |
| Current Assets | 6,859 | 7,807 | 8,574 | 8,818 | 7,983 | 7,257 | |
| PP&E | 5,508 | 5,154 | 4,570 | 4,278 | 4,370 | 4,256 | |
| Total Assets | 12,984 | 13,622 | 15,580 | 14,842 | 13,403 | 12,648 | |
| Current Liabilities | 2,812 | 2,792 | 3,445 | 3,156 | 2,277 | 2,169 | |
| Non-curent Liabilities | 1,847 | 1,936 | 1,397 | 1,913 | 1,961 | 1,951 | |
| Total Liabilities | 4,659 | 4,728 | 4,841 | 5,069 | 4,238 | 4,120 | |
| Total Shareholders' Equity | 8,325 | 8,895 | 10,739 | 9,773 | 9,165 | 8,528 | |
| A/R Turnover Days | 118 | 108 | 116 | 114 | 119 | 121 | |
| Inventory Turnover Days | 78 | 84 | 83 | 79 | 84 | 99 | |
| A/P Turnover Days | 58 | 50 | 57 | 65 | 73 | 78 | |
| Current Ratio(%) | 243.9% | 279.6% | 248.9% | 279.4% | 350.6% | 334.5% | |
| Debt Ratio(%) | 35.9% | 34.7% | 31.1% | 34.2% | 31.6% | 32.6% | |
| Book Value Per Share($NT) | 26.88 | 28.71 | 34.67 | 31.55 | 29.59 | 27.53 |
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TXC Confidential and Proprietary
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Unit: $NT
EPS and DPS
| 0 0.5 1 1.5 2 2.5 3 3.5 4 |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Share |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2.2 2.2 2.2 2.5 2.5 2.8 2.5 Earnings Per Share Cash Dividends Per Sha |
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| YEAR 2011 2012 2013 2014 2015 2016 2017 2011 2012 2013 2014 2015 2016 2017 |
|||||||||||||
| Earnings Per Share | 3.48 | 3.79 | 3.02 | 3.21 | 3.03 | 3.28 | 3.11 | ||||||
| Cash Dividends Per Share | 2.2 | 2.2 | 2.2 | 2.5 | 2.5 | 2.8 | 2.5 | ||||||
| Stock Price(Apr. end) | 43.6 | 46.0 | 43.6 | 39.9 | 41.1 | 44.5 | 39.0 | ||||||
| Payout Ratio(%) | 63.2 | 58.0 | 72.8 | 77.9 | 82.5 | 85.4 | 80.4 | ||||||
| Yields(%) | 5.1 | 4.8 | 5.1 | 6.3 | 6.1 | 6.3 | 6.4 |
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TXC Confidential and Proprietary
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Capital Expenditure Expand the Economy of Scale Capacity expansion for new products, and to satisfy market demands
Unit: $NT M
Amount: $250M
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MEMS
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Oscillators
Amount: $380M
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SMD Crystal
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• Facility
Amount: $230M
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SMD Crystal
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ACAP Crystal
Total Amount: $860M
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TXC Confidential and Proprietary
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Market Outlook TAM, Ranking, Sales segment breakdown
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TXC Confidential and Proprietary
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’ Worldwide X tal & Oscillator Market
Revenue
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3500 2.00%
1.35%
3000
1.00%
0.32%
0.22%
2500 -0.15%
0.00%
2000 3.2B
-1.00%
1500
-1.97% -2.00%
1000
-3.04%
-3.00%
500
0 -4.00%
2014 2015 2016 2017 2018(e) 2019(f)
WW Revenue(Millions of USD) YoY
Shipment
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2.33%
20,000 2.28% 2.15% 2.50%
2.05% 1.95%
2.00%
15,000 17.7B
1.50%
10,000
1.25%
1.00%
5,000
0.50%
0 0.00%
2014 2015 2016 2017 2018(e) 2019(f)
WW Shipments (Millions of pcs) YoY
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Source ： CS&A,2018
Think of Frequency, Think of TXC
11
’ Worldwide X tal & Oscillator Market
Total revenues is reached USD 3.1B-3.3B (CAGR 0.1%) Total shipment is estimated to 17.5B-18.5B units(CAGR 2.1%)
| - 500 1,000 1,500 2,000 2,500 3,000 3,500 Revenue(M, USD) |
18,000 20,000 pcs) |
18,000 20,000 pcs) |
OCXO VCXO TCXO XO MHz Crystal kHz Crystal |
|||||
|---|---|---|---|---|---|---|---|---|
| kHz Crystal MHz Crystal XO TCXO VCXO OCXO |
Source ： CS&A,2018
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TXC Confidential and Proprietary
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2017 Worldwide Ranking
| 2016 Rank |
2017 Rank |
Company Name | Revenue(M) | Revenue(M) | Revenue(M) | Market Share(%) | Market Share(%) |
|---|---|---|---|---|---|---|---|
| 2016 | 2017 | Percent Change |
2016 | 2017 | |||
| 1 | 1 | Seiko Epson | $409 | $382 | -6.6% | 12.9% | 11.7% |
| 2 | 2 | NDK | $357 | $354 | -0.8% | 11.3% | 10.8% |
| 4 | 3 | KCD | $287 | $344 | 20.0% | 9.1% | 10.5% |
| 3 | 4 | TXC | $310 | $294 | -5.2% | 9.8% | 9.0% |
| 5 | 5 | KDS | $212 | $205 | -3.2% | 6.7% | 6.3% |
| 6 | 6 | Microsemi (Vectron) |
$160 | $168 | 5.0% | 5.1% | 5.1% |
| 7 | 7 | SIWARD | $103 | $104 | 1.5% | 3.2% | 3.2% |
| 10 | 8 | MegaChips (SiTime) |
$73 | $103 | 41.1% | 2.3% | 3.1% |
| 9 | 9 | Hosonic | $95 | $98 | 3.0% | 3.0% | 3.0% |
| 8 | 10 | Harmony | $72 | $98 | 35.8% | 2.3% | 3.0% |
| Others | $1,088 | $1,120 | 3.0% | 34.4% | 34.2% | ||
| Total Revenue | $3,165 | $3,271 | 3.3% |
Source ~~： C~~ S&A,2018
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TXC Confidential and Proprietary
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Revenue by Market Segments
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OTHERS AUTOMOTIVE
Crystal, XO
6% 9%
AUTOMOTIVE
OTHERS IoT
7%
7% Crystal, XO,
9%
IoT TCXO
7%
MOBILE MOBILE
COMPUTING COMPUTING
18% 16%
2018
2017
(F)
NETWORKING
NETWORKING
31%
32%
MOBILE
COMMUNICATION
Stratum 3 TCXO
MOBILE
HF VCXO 29%
COMMUNICATION
OCXO
29%
Sensors, TSX ,
TCXO
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TXC Confidential and Proprietary
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Revenue by Product Types
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OTHERS
6%
OTHERS
XO
7% 5G
11%
XO
9%
TSX GNSS, TSX
7% 3G/4G/5G 9%
2018
2017
TCXO GNSS/GPS
9% Small Cell TCXO (F)
Networking 7% CRYSTAL
61%
SENSOR
7% CRYSTAL PS,
SENSOR
61% ALS+PS
6%
Color+PS
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Growth Potential
- The development of new product lines
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Rising demand between now and future
Intelligent
Connected
Things
Worldwide Sensors CAGR 11.3% (2016 to 2021) Forecasted U$241B by 2021 (AMR)
Worldwide Crystals and Oscillators CAGR 1.4% (2016 to 2020) Forecasted U$3.5B by 2020 (CS&A)
30 Billion Connected Devices by 2020 (Statista)
Growing usage of all sorts of sensors and AI
Increasing usage, decreasing in price
Massive number of devices are being embedded with sensors and connectivity
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Development of new product lines
Intelligent
Miniature and Slim Color Sensor High Accuracy Thermal Sensor High Resolution uBolometer Sensor
Connected
Active EMI Integrated Oscillator Module Ultra Stability SMD OCXO
High Freq, Miniature Crystal and Oscillator
Things
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IoT
5G
ACAP Sensor
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Industry 1[st]
Industry 1[st]
Target Markets
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Intelligent Connected Things
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Crystal
-
Miniaturization
-
High Freq
-
High Drive Level
-
Wide OTR
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Oscillator
-
High Freq
-
Ultra Stability
-
Ultra Low Noise
-
Wide OTR
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EMI Oscillator Module
- EMI IC Integration
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Light Sensor
Thermal IR Sensor
(Thermopile)
Thermal IR Image
Sensor
(uBolometer)
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Miniature & Low Profile Crystal & Oscillator
Miniature and low profile 1.2x1.0x0.3mm Crystals for Compact size module applications
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Internet of
Things
(IoT)
GNSS/GPS WiFi, BT/BLE, ZigBee
Source: ublox, OriginGPS Module Module
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Miniature and low profile 1.6x1.2mmx0.6mm Oscillators
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Ultra Stability SMD 9775 SC-Cut OCXO
Telecom and networking infrastructure
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Source: Huawei, Nokia
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Miniature & Slim Color Sensor
Single Aperture Slim Bezel Miniature 2.5x2.0mm 3.4x1.2mm 2.0x1.6mm
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Automotive ADAS Imaging Solutions
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Source: Yole
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Thermal Imaging (uBolometer) Active EMI OSC Module
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Active EMI Oscillator Module
Active EMI Oscillator Module 2.5x2.0mm/2.0x1.6mm Ceramic Package
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Designed for all Imaging Devices; Automotive Grade and IoT applications
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EMI resolved by Active EMI derived from EMI Oscillator Module Radiative and Conductive
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Source: Magna, BYD
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High Resolution uBolometer Sensor
Automotive Night Vision by Thermal Image (uBolometer Solution)
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320x240 QVGA
uBolometer Sensor
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Source: FLIR
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Dust, smog, and heavy smoke
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Sun glare or low sun angles
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Oncoming headlights
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High Accuracy Thermopile IR Sensor
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Non-contact temperature measurement solutions – by TO5 package
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Non-contact temperature measurement solutions – by ceramic package
Source: Panasonic, Heiman
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Overload Detection
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Search, Rescue & Security
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Leakage Detection
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Fever Detection
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TXC Confidential and Proprietary
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Summary
-
Market competition is always at intense
-
Supply surplus demand; market prices fall faster
-
Product specifications getting rigorous
-
Exchange rate fluctuations in the dollar, Yen, CNY
-
Risk and impact of US protectionism - Slowing down global productivity and trends – would likely to hit Asia, and China in particular
-
Speed up the development of new revenue-generating product lines for Automotive, 5G, IoT, Sensor
-
Accelerate business strategy on product diversification and strategic alliance
-
Continue to review vendors to lower the cost of goods sold and localized
-
Continue to drive lean management in all aspects to maintain healthy business and increase competitiveness
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Q & A
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