1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012...

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April 2 0 1 2 1Q 2012 Earning Results

Transcript of 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012...

Page 1: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

April 2 0 1 2

1Q 2012 Earning Results

Page 2: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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.

Page 3: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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)

Page 4: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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

Page 5: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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$)

Page 6: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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)

Page 7: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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

Page 8: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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.

Page 9: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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.

Page 10: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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

Page 11: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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

Page 12: 1Q 2012 Earning Results - InnoLux Corporation · 2013. 7. 12. · CMI with TFT Subsidiaries 1Q 2012 Balance Sheet NT$ million 2012.3.31 2011.12.31 2011.3.31 Cash & Short Term Investment

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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]