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August 2011
2Q 2011 Earning Results
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.
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AgendaSCENE
2Q 2011 Financial Results
Q&A
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)
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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
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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$)
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114 110 99 110 108 123101 95
23,448
28,72928,59025,875
16,44713,886
16,59318,344
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q110
50
100
150
200
250Shipment Revenue
Small & Medium-Size Shipment and Sales Trends
Notes:1. All figures before 2Q10 are on proforma basis, which assumed INL, CMO and TPO merged on 2009/1/12. All figures are unaudited, prepared by Chimei Innolux Corporation
Unit shipment(1)
(Million Units)Revenue(1)
(NT$ Million)
Page 8Page 8
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
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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 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
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AgendaSCENE
2Q 2011 Financial Results
Q&A
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]