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Siliconware Precision Industries Co., Ltd.
First Quarter 2018
Operating Results
Apr. 24, 2018
1
3Q 16 2
Safe Harbor Statements
The information herein contains forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such forward-looking statements are inherently subject to risks, uncertainties and assumptions about us, including, among other things:
the intensely competitive personal computer, communications, consumer ICs and non-commodity memory semiconductor industries and markets;
cyclical nature of the semiconductor industry;
risks associated with global business activities;
non-operating losses due to poor financial performance of some of our investments;
our dependence on key personnel;
general economic and political conditions;
possible disruptions in commercial activities caused by natural and human induced disaster, including terrorist activities and armed conflicts and contagious disease, such as the Severe Acute Respiratory Syndrome;
fluctuations in foreign currency exchange rates; and
other risks identified in our annual report for the year ended December 31, 2017 on Form 20-F filed with the U.S. Securities andExchange Commission on Mar. 27, 2018.
The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan” and similar expressions, as they relate to us, are intended to identify a number of these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed herein might not occur and our actual results could differ materially from those anticipated in these forward-looking statements.
All financial figures discussed herein are prepared under T-IFRS on a consolidated basis. The investment gains or losses of our company for the three months ended Mar 31, 2018 reflect our gains or losses attributable to the first quarter of 2018 unaudited financial results of several of our investments (the “Investees”) which are evaluated under the equity method. The consolidated financial data for our company for the three months ended Mar 31, 2018 is not necessarily indicative of the results that may be expected for any period thereafter.
1Q 18
3Q 16 3
1Q 2018 Consolidated Operating
Results Summary (unaudited)
1Q 18
Amount: NT$Million 1Q 2018 4Q 2017 1Q 2017
Amount Amount Amount
Net Revenues 18,913 21,623 19,552
Net Income Attributable to
Shareholders of the Parent 240 1,489 997
EPS (NT$)-Basic 0.08 0.48 0.32
EPS (NT$)-Diluted 0.08 0.48 0.15
ADS (US$)-Basic 0.01 0.08 0.05
ADS (US$)-Diluted 0.01 0.08 0.02
Depreciation 3,830 3,800 3,392
Capital Expenditure 2,277 2,306 3,337
EBITDA* 5,036 6,161 5,201
ROE(%)* 1.5% 8.8% 6.0%
*EBITDA= operating income + depreciation & amortization expenses
*Annualized ROE for the quarter
3Q 16 4
1Q 2018 Statement of Comprehensive
Income-QoQ & YoY Comparison (unaudited)
1Q 18
Amount: NT$Million 1Q 2018 4Q 2017 1Q 2017
Actual Actual Actual
Revenues 18,913 21,623 19,552 -12.5% -3.3%
Gross Profit 2,995 4,485 3,757 -33.2% -20.3%
Gross Margin 15.8% 20.7% 19.2% -4.9ppts -3.4ppts
Operating Expense (1,824) (2,165) (2,017) -15.8% -9.6%
Operating profits 1,171 2,320 1,740 -49.5% -32.7%
Operating Margin 6.2% 10.7% 8.9% -4.5ppts -2.7ppts
Non-operating Items (736) (389) (478) -89.3% -53.9%
Income tax (171) (442) (265) -61.4% -35.6%
Net Income 264 1,489 997 -82.2% -73.5%
Net Profit Margin 1.4% 6.9% 5.1% -5.5ppts -3.7ppts
Noncontrolling Interest 24 - - - -
Net Income Attributable to
Shareholders of the Parent240 1,489 997 -83.9% -75.9%
Earnings Per Ordinary
Shares-Basic NT$ 0.08 NT$ 0.48 NT$ 0.32
Earnings Per Ordinary
Shares-Diluted NT$ 0.08 NT$ 0.48 NT$ 0.15
1Q18
over
4Q17
1Q18
over
1Q17
3Q 16 5
Consolidated Balance Sheet Highlight - Mar, 2018 (unaudited)
1Q 18
Mar, 2018 % Dec, 2017 % Mar, 2017 %
Cash and Cash Equivalents 31,361 25 24,444 20 23,611 19
Long-term Investments 6,856 5 7,068 5 6,874 5
Property, plant, equipment 63,012 50 62,398 52 65,962 54
Total Assets 127,064 100 120,887 100 122,302 100
Bonds Payable 11,266 9 12,015 10 12,029 10
Long-term Loan 11,728 9 12,667 11 15,340 13
Total equity
(Including non-controlling interest)74,054 58 68,320 57 67,394 55
Depreciation-YTD 3,830 14,416 3,392
Capital Expenditure-YTD 2,277 12,933 3,337
EBITDA*-YTD 5,036 23,300 5,201
*EBITDA= operating income+ depreciation & amortization expenses
Amount: NT$ MillionActual
3Q 16
Consolidated Revenue, GM and OPM
-Mar, 2018
NT$ Million
$19,299
$21,680$21,955 $22,178
$19,552$20,425
$21,955
$18,913
$21,623
20.6%23.5%
23.0%23.6%
19.2%18.4%
20.7%21.9%
9.8%
13.3% 13.6% 13.7%
8.9% 9.2%
12.5%
10.7%
6.2%
0%
5%
10%
15%
20%
25%
30%
0
5,000
10,000
15,000
20,000
25,000
Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18
Revenue Gross Margin Operating Margin
15.8%
1Q 18 6
3Q 16 7
Sales Breakdown by Geography
1Q 18 4Q 17
Note:Statistics by end customer operational headquarter
1Q 18
3Q 16 8
Sales Breakdown by Customer
4Q 171Q 18
1Q 18
3Q 16 9
Sales Breakdown by Application
4Q 171Q 18
1Q 18 9
3Q 16 10
Sales Breakdown by Packaging Type
1Q 18 4Q 17
1Q 18 10
3Q 16 11
Capacity by Different Process
1Q 18
Capacity 1Q 18 4Q 17 unit
Wirebonder 8,731 8,207 set
Bumping
--8" wafer 128 121 k/M
--12" wafer 195 195 k/M
Flip Chip 163 149 kk/M
WLCSP 163 163 kk/M
SIP 3 3 kk/M
Tester 589 574 set
Note : Estimated by equivalent production unit
http://www.spil.com.tw
12