Holtek Semiconductor Inc....2019/Q2 Operating Results Holtek Semiconductor Inc. Consolidated Income...
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2019/Q2 Operating Results Holtek Semiconductor Inc. Professional MCU IC Provider 2019/Q2 Operating Results 2019/07/29 1
Transcript of Holtek Semiconductor Inc....2019/Q2 Operating Results Holtek Semiconductor Inc. Consolidated Income...
2019/Q2 Operating Results
Holtek Semiconductor Inc.
Professional MCU IC Provider
2019/Q2 Operating Results
2019/07/29
1
2019/Q2 Operating Results
Yearly Operating Results NT$ Million
3,931 3,9684,158
4,8634,615
2,243
458
807792 784926
1,064
46.8%48.5%
49.2% 48.9%49.1%47.9%
0
1,000
2,000
3,000
4,000
5,000
6,000
2014 2015 2016 2017 2018 2019/H1
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
Sales Income after tax and minority interest Gross Margin%
2
2019/Q2 Operating Results
Operation & Financial Structure
2014 2015 2016 2017 2018 2019/H1
226,168 226,168 226,168 226,168 226,168 226,168
3.50 3.57 3.47 4.10 4.70 2.03
3.50 3.57 3.50 4.10 *4.70 N/A
- - - - - N/A
20% 20% 20% 23% 26% 12%
17.86 17.81 17.53 18.00 18.57 16.00
11.64 11.20 11.82 11.88 12.33 14.38
Items＼Year
No. of shares (K)
EPS (NT$)
EPS (NT$)
Cash per share (NT$)
Cash (NT$)Dividends per
share (NT$)Stock (NT$)
Return on equity (%)
Net worth per share (NT$)
3
* Cash dividends of NT$4.7 per share were deducted and will be distributed on August 29, 2019.
2019/Q2 Operating Results
Quarterly Results
908
1,094 1,071
1,085 1,086 1,155
1,125
1,249
1,086
1,330 1,259
1,188
1,038
1,205
168 202 207 207 185228 237
276226
312262 263
203255
48.6% 49.1% 48.6%47.7%
45.8%45.4%
48.1% 47.9% 48.9% 49.7%49.4%
48.8% 48.5% 49.3%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
0
200
400
600
800
1,000
1,200
1,400
Sales Income after tax and minority interest Gross Margin%
4
NT$ million
2019/Q2 Operating Results
Holtek Semiconductor Inc. Consolidated Income Statements-2019/H1
NT$ K
2019/H1 2018/H1 YOY
Amount % Amount % %
Sales 2,242,788 100.0 2,415,574 100.0 (7.2)
Cost of Sales 1,139,420 50.8 1,210,385 50.1 (5.9)
Gross Profit 1,103,368 49.2 1,205,189 49.9 (8.4)
Unrealized Gross Profit 5,555 0.2 12,837 0.5 -
Realized Gross Profit 1,097,813 48.9 1,192,352 49.4 (7.9)
Operating Expenses 626,382 27.9 638,420 26.4 (1.9)
Operating Income 471,431 21.0 553,932 22.9 (14.9)
Non-Operating Income (Net) 61,738 2.8 71,620 3.0 (13.8)
Income Before Tax 533,169 23.8 625,552 25.9 (14.8)
Tax/ Minority Interest 74,923 3.3 87,314 3.6 (14.2)
Net Income 458,246 20.4 538,238 22.3 (14.9)
EPS 2.03 2.38
5
2019/Q2 Operating Results
Holtek Semiconductor Inc. Consolidated Income Statements-2019/Q2
NT$ K
6
2019/Q2 2018/Q2 2019/Q1 YOY QOQ
Amount % Amount % Amount % % %
Sales 1,204,932 100.0 1,329,873 100.0 1,037,856 100.0 (9.4) 16.1
Cost of Sales 610,778 50.7 661,673 49.8 528,642 50.9 (7.7) 15.5
Gross Profit 594,154 49.3 668,200 50.2 509,214 49.1 (11.1) 16.7
Unrealized Gross Profit 159 - 7,033 - 5,396 - - -
Realized Gross Profit 593,995 49.3 661,167 49.7 503,818 48.5 (10.2) 17.9
Operating Expenses 316,179 26.2 336,148 25.3 310,203 29.9 (5.9) 1.9
Operating Income 277,816 23.1 325,019 24.4 193,615 18.7 (14.5) 43.5
Non-Operating Income (Net) 19,803 1.6 38,464 2.9 41,935 4.0 (48.5) (52.8)
Income Before Tax 297,619 24.7 363,483 27.3 235,550 22.7 (18.1) 26.4
Tax/Minority Interest 42,745 3.5 51,051 3.8 (32,178) 3.1 (16.3) 32.8
Net Income 254,874 21.2 312,432 23.5 203,372 19.6 (18.4) 25.3
EPS 1.13 1.38 0.90
2019/Q2 Operating Results
Holtek Semiconductor Inc. Consolidated Balance Sheets NT$ K
7
2019.06.30 2018.06.30 2018.12.31
Assets Amount % Amount % Amount %
Current Assets：
Cash and Cash Equivalents 1,852,044 30 1,914,375 31 1,517,632 27
Bond Funds 537,390 9 717,805 12 486,555 9
Notes and Accounts Receivable 114,536 2 115,206 2 97,604 2
Receivables from Related Companies 684,970 11 736,175 12 749,789 13
Inventories 712,438 12 695,687 11 654,866 12
Other Financial Assets - Current 863,748 14 654,459 11 784,175 14
Other Current Assets 24,192 - 27,276 - 31,490 1
4,789,318 78 4,860,983 79 4,322,111 78
Non-Current Assets：
Financial Assets at Fair Value through Profit or
Loss 279,124 4 322,061 5 265,161 5
Investment by Equity Method 435,242 7 419,609 7 449,015 8
Properties 385,890 6 411,595 7 398,515 7
Right-of use Assets 99,327 2 - - - -
Income Tax Assets 69,706 1 48,826 1 69,706 1
Other Non-current Assets 99,222 2 50,314 1 50,992 1
1,368,511 22 1,252,405 21 1,233,389 22
Total Assets 6,157,829 100 6,113,388 100 5,555,500 100
2019/Q2 Operating Results
Holtek Semiconductor Inc. Consolidated Balance Sheets
NT$ K
8
2019.06.30 2018.06.30 2018.12.31
Amount % Amount % Amount %
Liabilities
Current Liabilities：
Notes payable 128,054 2 140,976 2 125,021 2
Accounts Payable 505,130 8 577,734 9 489,388 9
Accrued Salaries 271,444 5 287,664 5 281,788 5
Cash Dividends Payable 1,069,494 18 939,113 15 - -
Current Income Tax
Payable 83,659 1 93,543 2 97,904 2
Other Current Liabilities 122,118 2 103,335 2 85,382 2
2,179,899 36 2,142,365 35 1,079,483 20
Non-current Liabilities：
Income Tax Liabilities 169,200 3 116,140 2 166,610 3
Lease Liabilities 81,619 1 - - - -
Net defined benefit liability 75,579 1 72,198 1 76,602 1
Deposits Received 8,709 - 8,711 - 8,706 -
335,107 5 197,049 3 251,918 4
Total Liabilities 2,515,006 41 2,339,414 38 1,331,401 24
2019/Q2 Operating Results
Holtek Semiconductor Inc. Consolidated Balance Sheets NT$ K
9
2019.06.30 2018.06.30 2018.12.31
Stockholders' Equity Amount % Amount % Amount %
Shareholders' Equity Attributed to Parent Company：
Common Stock 2,261,682 37 2,261,682 37 2,261,682 41
Capital Surplus 142,309 2 142,309 2 142,309 3
Reserve 1,227,820 20 1,309,952 21 1,832,565 33
Other Adjustments (13,062) - 38,175 1 (37,386) (1)
Total Shareholders' Equity Attributed to
Parent Company 3,618,749 59 3,752,118 61 4,199,170 76
Minority Interest 24,074 - 21,856 1 24,929 -
Total Shareholders' Equity 3,642,823 59 3,773,974 62 4,224,099 76
Total Liabilities & Shareholders' Equity 6,157,829 100 6,113,388 100 5,555,500 100
2019/Q2 Operating Results
Holtek Worldwide Sales-19H1 YOY
1,69276%
(- 8%)
34615%
(+9%)
2059%
(-22%)International
China/ HK
Taiwan
2019/1~6(H1)
2019/H1 total sales: NT$ 2,243 million (YOY -7.2%)
10
Unit: NT$ million, %
1,83776%
31813%
26111%
International
China/ HK
Taiwan
2018/1~6(H1)
2018/H1 total sales: NT$ 2,416 million
盛群半導體 107年第一季法人說明會 2018/Q1 Operating Results 2019/Q2 Operating Results
Unit: NT$ million, %
92176%
(-13%)
17715%
(+15%)
1079%
(-10%)
Taiwan
International
China/ HK
2019/Q2 total sales: NT$ 1,205million(YOY -9.4%)
Holtek Worldwide Sales-19Q2 YOY 2019/Q2
11
1,05779%
15312%
1209%
Taiwan
International
China/ HK
2018/Q2 total sales: NT$ 1,330million
2018/Q2
盛群半導體 107年第一季法人說明會 2018/Q1 Operating Results 2019/Q2 Operating Results
Unit: NT$ million, %
Holtek Worldwide Sales-19Q2 QOQ
12
92176%
(+19%)
17715%
(+4%)
1079%
(+11%)
Taiwan
International
China/ HK
2019/Q2 total sales: NT$ 1,205million(QOQ +16.1%)
2019/Q2
77174%
17016%
9710%
Taiwan
International
China/ HK
2019/Q1 total sales: NT$ 1,038million
2019/Q1
2019/Q2 Operating Results
Total MCU IC Sales NT$ million
635772 765 793
782
839 824
954
803
1,017965
927
785
919
70% 70% 71%
73% 72% 73%73%
76% 74% 76% 76%78%
76% 76%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0
200
400
600
800
1,000
16Q1 16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2
Total MCU IC Percentage
2016 MCU sales: NT$2,966million (71% of total sales) (YOY +6%)
2017 MCU sales: NT$3,399million (74% of total sales) (YOY +15%)
2018 MCU sales: NT$3,712million (76% of total sales) (YOY +9%)
2019/H1 MCU sales: NT$1,704million (76% of total sales) (YOY -6%)
13
19Q2：YOY -10%；QOQ +17%
2019/Q2 Operating Results
Total MCU IC Shipments Unit: K pcs
104,417
132,798 137,646 141,238 140,666
158,562 149,857
176,039
143,758
185,039 175,478 168,569
147,295
166,155
0
40,000
80,000
120,000
160,000
200,000
240,000
16Q1 16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2
2016 MCU shipments: 516KKpcs (YOY +11%)
2017 MCU shipments: 625KKpcs (YOY +21%)
2018 MCU shipments: 673KKpcs (YOY +8%)
2019/H1 MCU shipments: 313KKpcs (YOY -5%)
19Q2：YOY -10%；QOQ +13%
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2019/Q2 Operating Results
Flash MCU Shipments
42,953
59,236 64,957
77,669 80,475
93,403 93,032
112,758
92,320
127,579 123,424
125,408
105,628
123,615
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
Unit: K pcs
2016 Flash MCU shipments: 245KK (47%) (YOY +57%)
2017 Flash MCU shipments: 380KK (61%) (YOY +55%)
2018 Flash MCU shipments: 469KK (70%) (YOY +23%)
2019/H1 Flash MCU shipments: 229KK (73%) (YOY +4%)
15
19Q2：YOY -3%；QOQ +17%
2019/Q2 Operating Results
Unit: K pcs
32-bit MCU Shipments
3,596
273
2,841
5,9496,116
2,930
1,2181,2671,1291,093
337
2,931
4,602
5,719
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
16Q1
16Q2
16Q3
16Q4
17Q1
17Q2
17Q3
17Q4
18Q1
18Q2
18Q3
18Q4
19Q1
19Q2
2016 32-bit MCU shipments: 2,832K (YOY +345%)
2017 32-bit MCU shipments: 11,531K (2%) (YOY +307%)
2018 32-bit MCU shipments: 16,323K (2%) (YOY +42%)
2019/H1 32-bit MCU shipments: 9,315K (3%) (YOY +6%)
16
19Q2：YOY +101%；QOQ +59%
2019/Q2 Operating Results
Unit: K pcs
Touch MCU Shipments
15,518
23,237 22,642
28,272 27,791
31,742
26,899
37,903
28,565
32,870
36,464 36,701
30,638
37,700
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2016 Touch MCU shipments: 90KK (17%) (YOY +34%)
2017 Touch MCU shipments: 124KK (20%) (YOY +38%)
2018 Touch MCU shipments: 135KK (20%) (YOY +8%)
2019/H1 Touch MCU shipments: 68KK (22%) (YOY +11%)
17
19Q2：YOY +15%；QOQ +23%
2019/Q2 Operating Results
Holtek Applications-19H1
18
E-Banking
1%Health Care
13%
Home Appliance
43%(+ 3%)
Industrial
Control15%
Others
14%
PC Peripheral
5%
Security
7%
Toy &
Educational2%
2019/H1 total sales: NT$ 2,243million(YOY -7.2%)
E-Banking
2%Health Care
11%
Home Appliance
39%
Industrial
Control20%
Others
14%
PC Peripheral
6%
Security
6%
Toy &
Educational2%
2018/1~6(H1)
2018/H1 total sales: NT$ 2,416million
2019/1~6(H1)
2019/Q2 Operating Results 19
Product Line Product Applications
Home Appliance Includes LED lights, white goods, personal care products, home appliances, kitchen
appliances and bathroom products, etc.
Industrial Control Includes power tools, DC motor drive applications, measurement products, battery
charger/protection, power management and water/electricity/gas/heat meter
applications, etc.
PC Peripheral PC peripheral applications.
Security Security, fire protection & safety applications.
Toy & Educational Education & toy applications.
E-Banking Bank & supermarket applications.
Health Care Health & Measurement applications.
Others Includes automotive appliances, motorbike appliances, other products and other
module products, etc.
Holtek Product Applications
2019/Q2 Operating Results
Holtek is a sincere and trustworthy partner that
you can rely upon for your long term
investment.
HOLTEK SEMICONDUCTOR INC.
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