Holtek Semiconductor Inc. · Professional MCU IC Provider 2019/Q4 Operating Results 2020/02/05 1....
Transcript of Holtek Semiconductor Inc. · Professional MCU IC Provider 2019/Q4 Operating Results 2020/02/05 1....
2019/Q4 Operating Results
Holtek Semiconductor Inc.
Professional MCU IC Provider
2019/Q4 Operating Results
2020/02/05
1
2019/Q4 Operating Results
Yearly Operating ResultsNT$ Million
3,9684,158
4,8634,584
4,615
9151,064
926807 784
49.1% 48.5% 49.2%46.8%
49.2%
0
1,000
2,000
3,000
4,000
5,000
6,000
2015 2016 2017 2018 2019
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
Sales Income after tax and minority interest Gross Margin%
2
2019/Q4 Operating Results
Operation & Financial Structure
2015 2016 2017 2018 2019
226,168 226,168 226,168 226,168 226,168
3.57 3.47 4.10 4.70 4.05
3.57 3.50 4.10 4.70 N/A
- - - - N/A
20% 20% 23% 26% 22%
17.81 17.53 18.00 18.57 17.92
11.20 11.82 11.88 12.33 10.98
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$)
3
2019/Q4 Operating Results
Quarterly Results
908
1,094 1,071
1,085 1,086 1,155 1,125
1,249
1,086
1,330 1,259
1,188
1,038
1,205
1,121
1,221
168 202 207 207 185228 237
276226
312262 263
203255
222 235
48.6% 49.1% 48.6%
47.7%45.8%45.4%
48.1% 47.9% 48.9% 49.7% 49.4%48.8% 48.5% 49.3%
50.7%48.1%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
0
200
400
600
800
1,000
1,200
1,400
Sales Income after tax and minority interest Gross Margin%
4
NT$ million
2019/Q4 Operating Results
Holtek Semiconductor Inc.Consolidated Income Statements-2019/Q4
NT$ K
2019/Q4 2018/Q4 2019/Q3 YOY QOQ
Amount % Amount % Amount % % %
Sales 1,220,661 100.0 1,188,274 100.0 1,120,656 100.0 2.7 8.9
Cost of Sales 639,653 52.4 607,857 51.2 569,317 50.8 5.2 12.4
Gross Profit 581,008 47.6 580,417 48.8 551,339 49.2 0.1 5.4
Unrealized Gross Profit (6,400) - 35 - (16,909) - - -
Realized Gross Profit 587,408 48.1 580,382 48.8 568,248 50.7 1.2 3.4
Operating Expenses 320,649 26.3 316,534 26.6 319,700 28.5 1.3 0.3
Operating Income 266,759 21.9 263,848 22.2 248,548 22.2 1.1 7.3
Non-Operating Income (Net) 16,140 1.3 51,935 4.4 3,200 0.3 - -
Income Before Tax 282,899 23.2 315,783 26.6 251,748 22.5 (10.4) 12.4
Tax/Minority Interest 48,116 3.9 52,378 4.4 29,876 2.7 (8.1) 61.1
Net Income 234,783 19.2 263,405 22.2 221,872 19.8 (10.9) 5.8
EPS 1.04 1.16 0.98
5
2019/Q4 Operating Results
Holtek Semiconductor Inc.Consolidated Income Statements-2019
NT$ K
2019 2018 YOY
Amount % Amount % %
Sales 4,584,105 100.0 4,862,807 100.0 (5.7)
Cost of Sales 2,348,390 51.2 2,455,833 50.5 (4.4)
Gross Profit 2,235,715 48.8 2,406,974 49.5 (7.1)
Unrealized Gross Profit (17,754) 0.4 12,624 0.3 -
Realized Gross Profit 2,253,469 49.2 2,394,350 49.2 (5.9)
Operating Expenses 1,266,731 27.6 1,283,620 26.4 (1.3)
Operating Income 986,738 21.5 1,110,730 22.8 (11.2)
Non-Operating Income (Net) 81,078 1.8 134,859 2.8 (39.9)
Income Before Tax 1,067,816 23.3 1,245,589 25.6 (14.3)
Tax/ Minority Interest 152,914 3.3 181,599 3.7 (15.8)
Net Income 914,902 20.0 1,063,990 21.9 (14.0)
EPS 4.05 4.70
6
2019/Q4 Operating Results
NT$ K
2019.12.31 2018.12.31
Assets Amount % Amount %
Current Assets:
Cash and Cash Equivalents 1,005,996 19 1,517,632 27
Bond Funds 491,203 9 486,555 9
Notes and Accounts Receivable 97,688 2 97,604 2
Receivables from Related Companies 692,373 13 749,789 13
Inventories 682,609 13 654,866 12
Other Financial Assets - Current 986,846 18 784,175 14
Other Current Assets 27,575 - 31,490 1
3,984,290 74 4,322,111 78
Non-Current Assets:
Financial Assets at Fair Value through Profit or
Loss302,305 6 265,161 5
Investment by Equity Method 467,690 9 449,015 8
Property, Plant and Equipment 358,515 7 398,515 7
Right-of-use Assets 92,073 2 - -
Deferred Tax Assets 87,196 1 69,706 1
Other Non-current Assets 81,599 1 50,992 1
1,389,378 26 1,233,389 22
Total Assets 5,373,668 100 5,555,500 100
Holtek Semiconductor Inc.Consolidated Balance Sheets
7
2019/Q4 Operating Results
Holtek Semiconductor Inc.Consolidated Balance Sheets
NT$ K
2019.12.31 2018.12.31
Amount % Amount %
Liabilities
Current Liabilities:
Notes payable 111,050 2 125,021 2
Accounts Payable 371,558 7 489,388 9
Salary Payable 268,730 5 281,788 5
Current Income Tax Liabilities 67,271 1 97,904 2
Other Current Liabilities 113,959 2 85,382 2
932,568 17 1,079,483 20
Non-current Liabilities:
Deferred Tax Liabilities 199,819 4 166,610 3
Lease Liabilities 73,586 1 - -
Net Defined Benefit Liabilities 79,730 2 76,602 1
Guarantee Deposit Received 8,542 - 8,706 -
361,677 7 251,918 4
Total Liabilities 1,294,245 24 1,331,401 24
8
2019/Q4 Operating Results
Holtek Semiconductor Inc.Consolidated Balance Sheets
NT$ K
2019.12.31 2018.12.31
Equity Amount % Amount %
Equity Attributed to Parent Company:
Ordinary Share Capital 2,261,682 42 2,261,682 41
Capital Surplus 142,309 3 142,309 3
Retained Earnings 1,680,336 31 1,832,565 33
Other Equity (31,662) - (37,386) (1)
Total Shareholders' Equity Attributed to
Parent Company4,052,665 76 4,199,170 76
Non-controlling Interests 26,758 -
24,929 -
Total Equity 4,079,423 76 4,224,099 76
Total Liabilities and Equity 5,373,668 100 5,550,500 100
9
2019/Q4 Operating Results
Holtek Worldwide Sales-2019 YOY
Unit: NT$ million, %
10
3,47476%
(- 7%)
66014%
(- 0.4%)
45010%
(- 6%)International
China/ HK
Taiwan
2019
2019 total sales: NT$ 4,584 million (YOY – 5.7%)
3,72276%
66314%
47810%International
China/ HK
Taiwan
2018
2018 total sales: NT$ 4,863 million
盛群半導體 107年第一季法人說明會2018/Q1 Operating Results2019/Q4 Operating Results
Unit: NT$ million, %
Holtek Worldwide Sales-4Q19 YOY
2019/Q4 total sales: NT$ 1,221million (YOY + 2.7%)
2019/Q4
11
94677%
(+ 3%)
14612%
(- 11%)
12911%
(+18%)
Taiwan
International
China/ HK
2018/Q4 total sales: NT$ 1,188million
2018/Q4
91577%
16314%
1109%
Taiwan
International
China/ HK
盛群半導體 107年第一季法人說明會2018/Q1 Operating Results2019/Q4 Operating Results
Unit: NT$ million, %
Holtek Worldwide Sales-4Q19 QOQ
12
2019/Q4 total sales: NT$ 1,221million (QOQ + 8.9%)
2019/Q4
2019/Q3 total sales: NT$ 1,121million
2019/Q3
83775%
16815%
11610%
Taiwan
International
China/ HK
94677%
(+ 13%)
14612%
(- 14%)
12911%
(+12%)
Taiwan
International
China/ HK
2019/Q4 Operating Results
Total MCU IC Sales NT$ million
635772 765 793
782
839 824
954
803
1,017965
927
785
919853
953
70% 70% 71%
73% 72% 73%73%
76% 74% 76% 76%78%
76% 76% 76%78%
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 19Q3 19Q4
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 MCU sales: NT$3,510million (76% of total sales) (YOY -5%)
13
19Q4:YOY +3%;QOQ +12%
2019/Q4 Operating Results
Total MCU IC ShipmentsUnit: 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
166,155 156,212
183,161
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 19Q3 19Q4
2016 MCU shipments: 516KKpcs (YOY +11%)
2017 MCU shipments: 625KKpcs (YOY +21%)
2018 MCU shipments: 673KKpcs (YOY +8%)
2019 MCU shipments: 653KKpcs (YOY -3%)
19Q4:YOY +9%;QOQ +17%
14
2019/Q4 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
105,564
123,579 118,125
139,685
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 Flash MCU shipments: 487KK (75%) (YOY +4%)
15
19Q4:YOY +11%;QOQ +18%
2019/Q4 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
36,552 36,782
31,033
38,195
32,583
48,534
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
55,000
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 Touch MCU shipments: 150KK (23%) (YOY +12%)
16
19Q4:YOY +32%;QOQ +49%
2019/Q4 Operating Results
Unit: K pcs
32-bit MCU Shipments
3,597
273
2,841
5,9496,116
2,930
1,2181,2671,1291,093
337
2,931
4,602
5,7195,989
6,325
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
19Q3
19Q4
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 32-bit MCU shipments: 21,630K (3%) (YOY +33%)
17
19Q4:YOY +37%;QOQ +6%
2019/Q4 Operating Results
Standalone Detectors
Safety Care Market
2018 shipments: 15KK pcs
2019 shipments: 17KK pcs (YoY +16%)
NB-IoT Smoke Detector Solution is ready
18
2019/Q4 Operating Results
Networked Fire Alarm Systems
19
2019/Q4 Operating Results
Networked Emergency Lighting Systems
20
2019/Q4 Operating Results
2018 Safety Care shipments: 15KK pcs (YOY +33%)
2019 Safety Care shipments: 17KK pcs (YOY +16%)
Safety Care Application Shipments Unit: K pcs
21
2019/Q4 Operating Results
Healthcare Market2018 shipments: 34KK pcs; 2019 shipments: 40KK (YoY +19%)
HCT technology of Blood Glucose is under development
22
2019/Q4 Operating Results
Unit: K pcs
Healthcare Application Shipments
2018 Healthcare shipments: 34KK pcs (YOY +9%)
2019 Healthcare shipments: 40KK pcs (YOY +19%)
23
2019/Q4 Operating Results
Global Brushless DC Motors
Market 2016-2021
Sources: Technavio、IEK
24
BLDC - USD1 billion BLDC - Growth Rate (%)
2019/Q4 Operating Results
Electric ToolsGarden Tools
Massage Guns Air Purifiers Electric Fans Vacuum Cleaners
BLDC Application Products
25
2019/Q4 Operating Results
Motor Control Application Shipments Unit: K pcs
2018 Motor Control shipments: 6,596K pcs (YOY -1%)
2019 Motor Control shipments: 8,592K pcs (YOY +30%)
26
2019/Q4 Operating Results
Big DataInternet of Things
27
2019/Q4 Operating Results 28
BLDC
1%
Display Driver
9% Health and
Measurement10%
Home Appliance
31%
Industrial
Control11%
Others
18%
PC Peripheral
6%
Power
Management8%
RF
1%
Security
5%
2018
BLDC
1%
Display Driver
9% Health and
Measurement9%
Home Appliance
30%
Industrial
Control13%
Others
18%
PC Peripheral
6%
Power
Management8%
RF
1%
Security
5%2019
2019 total sales: NT$ 4,584million(YOY -5.7%)
2018 total sales: NT$ 4,863million
Holtek Applications-2019
2019/Q4 Operating Results 29
BLDC
1%
Display Driver
8%Health and
Measurement10%
Home Appliance
32%
Industrial
Control9%
Others
20%
PC Peripheral
7%
Power
Management8%
RF
1%
Security
4%
BLDC
1%
Display Driver
9% Health and
Measurement11%
Home Appliance
28%
Industrial
Control11%
Others
19%
PC Peripheral
6%
Power
Management8%
RF
1%
Security
6%2019/Q4
2019/Q3
2019/Q3 total sales: NT$ 1,121million
2019/Q4 total sales: NT$ 1,221million(QOQ +8.9%)
Holtek Applications-4Q19 QOQ
2019/Q4 Operating Results
Holtek is a sincere and trustworthy partner that
you can rely upon for your long term
investment.
HOLTEK SEMICONDUCTOR INC.
30