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August 2011 2Q 2011 Earning Results

2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

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Page 1: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

August 2011

2Q 2011 Earning Results

Page 2: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

Page 2Page 2

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.

Page 3: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

Page 3Page 3

AgendaSCENE

2Q 2011 Financial Results

Q&A

Page 4: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

Page 4Page 4

Notes:1. EBITDA = Operating Income + Depreciation & Amortization2. Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares3. All figures are unaudited, prepared by Chimei Innolux Corporation

CMI with TFT Subsidiaries 2Q 2011 Income Statement - QoQ

NT$ million QoQ % Except Per Share Data 2Q11

% Revenue 1Q11

% Revenue Change

Net Sales 121,696 100.0% 124,327 100.0% (2.1%) Cost of Goods Sold 128,321 105.4% 130,958 105.3% (2.0%) Gross Profit (6,625) (5.4%) (6,631) (5.3%) (0.1%) Operating Expenses 6,275 5.2% 6,916 5.6% (9.3%) Operating Income (12,900) (10.6%) (13,547) (10.9%) (4.8%) Net Non-operating Income (Exp.) (602) (0.5%) (815) (0.7%) (26.1%) Income before Tax (13,502) (11.1%) (14,362) (11.6%) (6.0%) EBITDA(1) 12,142 10.0% 11,539 9.3% 5.2% Net Income (13,013) (10.7%) (13,803) (11.1%) (5.7%) Net Income-Parent (13,010) (10.7%) (13,804) (11.1%) (5.8%) Basic EPS (NT$)(2) (1.78) (1.89)

Page 5: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

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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$73.13 billion; Book value per common stock: NT$ 31.694. All figures are unaudited, prepared by Chimei Innolux Corporation

CMI with TFT Subsidiaries 2Q 2011 Balance Sheet

NT$ million 2011.6.30 2011.3.31 2010.6.30 Cash & Short Term Investment 71,603 52,727 58,777 Inventory 68,797 67,691 64,729 Total Assets 711,175 707,736 720,363 Short Term Debt (1) 136,352 104,772 101,117 Long Term Debt (2) 208,794 207,027 183,569 Shareholders’ Equity (3) 231,762 246,391 289,467 Net Debt to Shareholders’ Equity 118.0% 105.1% 78.0%

Depreciation & Amortization 25,042 25,086 23,433 Capital Expenditure 10,681 15,061 25,542

Page 6: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

Page 6Page 6

32,950 33,101 33,840 33,888 30,597 33,637 32,272 35,471

9510199113119115115118

0

10,000

20,000

30,000

40,000

50,000

60,000

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q110

40

80

120

160Shipment ASP

Large-size Shipment Units and ASP Trends

Notes:1. All figures before 2Q10 are on proforma basis, which assumed INL, CMO and TPO merged on 2009/1/12. Exchange rate based on the prevailing market rate at the end of each quarter3. All figures are unaudited, prepared by Chimei Innolux Corporation

Unit shipment(1)

(’000)ASP(1)(2)

(US$)

Page 7: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

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114 110 99 110 108 123101 95

23,448

28,72928,59025,875

16,44713,886

16,59318,344

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q110

50

100

150

200

250Shipment Revenue

Small & Medium-Size Shipment and Sales Trends

Notes:1. All figures before 2Q10 are on proforma basis, which assumed INL, CMO and TPO merged on 2009/1/12. All figures are unaudited, prepared by Chimei Innolux Corporation

Unit shipment(1)

(Million Units)Revenue(1)

(NT$ Million)

Page 8: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

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68

145 137 130 124 122139146 140

71

10.0%9.3%4.7%

15.0%24.1%

15.1%16.0%20.2%

2.7%10.4%

5.2%10.3%

12.8%

-7.6% -5.3% -5.4%

0

50

100

150

200

250

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11

Revenue Proforma EBITDA Margin Gross Margin

Revenue, Gross Margin, EBITDA Trends, and EPS Trends

Revenue(1)

(NT$ Billion)

Notes:

1. All figures of 2009 are on proforma basis, which assumed INL, CMO and TPO merged on 2009/1/1. Revenue of 1Q10 is on proforma basis

2. All figures are unaudited, prepared by Chimei Innolux Corporation

1.430.87-1.52

0.85-0.80

-3.79-1.89 -1.78

EPS

Page 9: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

Page 9Page 9

35%41% 37% 41% 41%

35% 37% 39%

44% 37% 42% 36%30%

33% 29% 30%

6% 7% 8% 8%6%

6% 6%9%

13% 12% 10% 11%19% 22% 23%

19%

3%5%4%4%4%3%3%2%

0%

20%

40%

60%

80%

100%

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11

TV Desktop Notebook Small & Medium Others

Sales Breakdown by Application

Notes:1. All figures before 2Q10 are on proforma basis, which assumed INL, CMO and TPO merged on 2009/1/12. All figures are unaudited, prepared by Chimei Innolux Corporation

Page 10: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

Page 10Page 10

13% 12% 11% 12%20% 23% 24% 20%

32% 30% 30% 27%21%

23% 22%23%

30%27% 31% 30% 29%

29% 24% 27%

11%15% 14% 19% 18%

16%18% 15%

14% 16% 14% 12% 12% 9% 12% 15%

0%

20%

40%

60%

80%

100%

3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11

<10" 10 to <20" 20 to <30" 30 to <40" 40"+

Sales Breakdown by Size

Notes:1. All figures before 2Q10 are on proforma basis, which assumed INL, CMO and TPO merged on 2009/1/12. All figures are unaudited, prepared by Chimei Innolux Corporation

Page 11: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

Page 11Page 11

AgendaSCENE

2Q 2011 Financial Results

Q&A

Page 12: 2Q 2011 Earning Results - InnoLux Corporation · 2013. 7. 12. · 3. Capital Stock (common): NT$73.13 billion; Book value per common stock: NT$ 31.69 4. All figures are unaudited,

Page 12Page 12

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]