1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012...
Transcript of 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012...
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1Q 2012 Earning Results
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Disclaimer
Chimei Innolux Corporation’s statements of its current expectations and
estimates are forward-looking statements subject to significant known and
unknown risks and uncertainties and actual results may differ materially from
those contained or implied in the forward looking statements. These forward-
looking statements are not guarantees of future performance and therefore you
should not place undue reliance on them. Except as required by law, we
undertake no obligation to update any forward-looking statements, whether as a
result of new information, future events, or otherwise.
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Notes:
1. CMI recognized NT$3.5 billion non-operating expenses for the antitrust settlement in 4Q11.
2. EBITDA = Operating Income + Depreciation & Amortization
3. Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares
4. Capital Stock (common): NT$73.13 billion
5. All figures are unaudited, prepared by Chimei Innolux Corporation.
CMI with TFT Subsidiaries 1Q 2012 Income Statement - QoQ
NT$ million QoQ %
Except Per Share Data 1Q12
%
Revenue 4Q11
%
Revenue Change
Net Sales 109,236 100.0% 130,409 100.0% -16.2%
Cost of Goods Sold 116,060 106.2% 141,073 108.2% -17.7%
Gross Profit (6,824) -6.2% (10,664) -8.2% -36.0%
Operating Expenses 5,305 4.9% 6,539 5.0% -18.9%
Operating Income (12,129) -11.1% (17,202) -13.2% -29.5%
Net Non-operating Income (Exp.)(1) (738) -0.7% (4,693) -3.6% -84.3%
Income before Tax (12,867) -11.8% (21,895) -16.8% -41.2%
EBITDA(2) 9,954 9.1% 5,753 4.4% 73.0%
Net Income (12,765) -11.7% (19,988) -15.3% -36.1%
Net Income-Parent (12,766) -11.7% (19,992) -15.3% -36.1%
Basic EPS (NT$)(3)(4) (1.75) (2.73)
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Notes:
1. Short term debt = (short-term bank loan + commercial papers + current portion of long term loan + obligations under capital leases)
2. Long term debt = (long-term bank loan + corporate bonds + preferred shares + obligations under capital leases)
3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 25.07
4. All figures are unaudited, prepared by Chimei Innolux Corporation.
CMI with TFT Subsidiaries 1Q 2012 Balance Sheet
NT$ million 2012.3.31 2011.12.31 2011.3.31
Cash & Short Term Investment 58,048 59,449 52,727
Inventory 60,939 59,540 67,691
Total Assets 643,250 668,479 707,736
Short Term Debt (1) 113,382 275,081 104,772
Long Term Debt (2) (3) 215,495 49,377 207,027
Shareholders’ Equity (4) 183,355 196,181 246,391
Net Debt to Shareholders’ Equity 147.7% 135.1% 105.1%
Depreciation & Amortization 22,083 22,955 25,086
Capital Expenditure 3,399 8,736 15,061
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33,888 30,597 33,637 32,27235,471 36,991 35,399
32,358
86899095
10199
113119
0
10,000
20,000
30,000
40,000
50,000
60,000
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
-20
20
60
100
140
Shipment ASP
Large-size Shipment Units and ASP Trends
Notes:
1. Exchange rate based on the prevailing market rate at the end of each quarter
2. All figures are unaudited, prepared by Chimei Innolux Corporation.
Unit shipment(1)
(’000) ASP(1)(2)
(US$)
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110 108123
101 95110 115
90
25,867
34,225
27,954
23,448
28,72928,59025,875
16,447
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
0
50
100
150
200
250Shipment Revenue
Small & Medium-Size Shipment and Sales Trends
Notes:
1. All figures are unaudited, prepared by Chimei Innolux Corporation.
Unit shipment(1)
(Million Units)
Revenue(1)
(NT$ Million)
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145 137 130 124 122 125 130109
9.1%4.4%4.3%
10.0%9.3%4.7%
15.0%
24.1%
-5.4%12.8%
2.7%
-7.6%
-5.3%-9.9%
-8.2% -6.2%
0
50
100
150
200
250
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
Revenue, Gross Margin, EBITDA Trends, and EPS Trends
Revenue(1)
(NT$ Billion)
-1.89-3.79
-0.80
1.43
-1.78 -2.36 -2.73-1.75
Notes:
1. All figures are unaudited, prepared by Chimei Innolux Corporation.
Revenue EBITDA Margin Gross Margin EPS
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41% 41%35% 37% 39% 35% 34% 36%
36%30%
33% 29%30%
28% 28% 25%
8%
6%6% 6%
9%12% 10% 11%
11%19% 22% 23%
19% 23% 26% 24%
4%2%2%3%5%4%4%4%
0%
20%
40%
60%
80%
100%
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
TV Desktop Notebook Small & Medium Others
Sales Breakdown by Application
Notes:
1. All figures are unaudited, prepared by Chimei Innolux Corporation.
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12%20% 23% 24% 20%
27% 30% 28%
27%21%
23% 22%23%
20% 18%17%
30% 29%29%
24% 27%27% 25% 27%
19% 18%16%
18% 15% 11% 12% 14%
12% 12% 9% 12% 15% 15% 15% 14%
0%
20%
40%
60%
80%
100%
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
<10" 10 to <20" 20 to <30" 30 to <40" 40"+
Sales Breakdown by Size
Notes:
1. All figures are unaudited, prepared by Chimei Innolux Corporation.
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TFT LCD Fabs Update
Generation Site Substrate size
(mm2)
Dec-12 Main Products Technology
(K/month)
G3.5 LTPS Jhunan, Taiwan 620 x 750 70 Small/Medium LTPS, OLED
G3.5 Tainan, Taiwan 620 x 750 55 Small/Medium
G4.5 Jhunan, Taiwan 730 x 920 45 TFT and Touch Panel Compatible Touch panel
G4 Tainan, Taiwan 680 x 880 88 Small/Medium
G5 Jhunan, Taiwan 1,100 x 1,300 90 Small/Medium, NB TN, IPS
G5 Tainan, Taiwan 1,100 x 1,300 145 MNT, TV TN, IPS
G5 Tainan, Taiwan 1,100 x 1,300 180 NB, TV TN, IPS
G5.5 Tainan, Taiwan 1,300 x 1,500 170 MNT, TV
G6 Jhunan, Taiwan 1,500 x 1,850 105 MNT, TV VA
G6 Tainan, Taiwan 1,500 x 1,850 200 MNT, TV VA
G7.5 Tainan, Taiwan 1,950 x 2,250 100 TV VA
G8.5 Kaohsiung, Taiwan 2,200 x 2,500 42 TV VA
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Touch Sensor Fabs Update
Generation Site Substrate size (mm2) Mar-12 Dec-12
Main Products (K/month) (K/month)
G2.5 Longhua, China 400 x 500 80 80 Smartphone
G4.5 Jhunan, Taiwan 730 x 920 45 45 Tablet
G4.5 Tainan, Taiwan 730 x 920 100 150 Tablet
G5 Jhunan, Taiwan 1100 x 1300 10 20 NB
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For further information, please visit our website at:
www.chimei-innolux.com
Contact Investor Relations at:
phone: +886 (0)6 505-3760
email:[email protected]