Nanya Presentation Material 20140318 ENG
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Transcript of Nanya Presentation Material 20140318 ENG
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8/12/2019 Nanya Presentation Material 20140318 ENG
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Dr. Pei-Ing Lee
SVP & Spokesman
March 18th-19th, 2014
The BofAML TTB2014 Conference
Nanya Technology Corporation
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Company Profile
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NTC Shareholders
Approximately 87%shares owned by FPG conglomerate
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Nanya Fab 3A 300mm Fabricat ion
Location : New Taipei City, Taiwan, 2007
Capacity :55,000 WSPM*
Technology : 30nm/42nm/50nm
Product : Specialty DRAM (Consumer,Industrial, Mobile) and elixir
*WSPM = wafers per month
30nm wafer output over 70% of total capacity
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Nanya & FPG DRAM Operat ion Framework
Nanya and FPG affiliates jointly own 36.79% of Inoterasownership.
FPGs affiliated companies (Nanya + Inotera) contributed 15% of worldwide DRAMcapacity, estimated 50% of non-Korea DRAM capacity.
Nanya recognized NT$ 5,012 Million from Inoterasprofits in 2013 through EquityMethod.
Nanya has the right to license 20nm technology from Micron.
Shareholding,
35.34%Shareholding,
86.87%
Shareholding,36.79%(Nanya included,26.17%)
55,000 WSPM 120,000 WSPM
FPG
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Financial Review
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Annual Revenue
37,12533,882
46,975
-111% -109%
17%
2011 2012 2013
Net operating revenues(Million NT$) Net Margin(%)
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2013 vs. 2012
Revenue +38.6%
Shipment Flat
ASP +37.4%
Exchange Rate +0.2 %
2013 Revenue Resu lts
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2013 Income Statement
Y2013 Y2012YoY
Amount: Million NT$ Audited Audited
Net Sales 46,975 100% 33,882 100% 39%
Cost of Goods Sold 39,465 84% 56,169 166%
Gross Margin 7,510 16% -22,287 -66% SG&A Expenses 1,892 4% 2,076 6%
R&D Expenses 1,518 3% 6,192 18%
Operating Income 4,100 9% -30,555 -90% Non-operating Income (Exp.) 4,050 9% -5,411 -16%
Income before Tax 8,150 17% -35,966 -106% Income Tax Benefit (Expense) -39 0% -53 0%
Net income attributable to noncontrollinginterests
-27 0% 13 0%
Net Income attributable to NTC 8,138 17% -36,033 -106% EPS(NT$) 0.34 -2.24
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2013 Cash Flows
4Q'13 3Q'13 2Q'13 1Q'13
(Unit: Million NT$) Audited Audited Audited Audited
Net Cash Provided by OperatingActivities
5,157 4,414 5,232 -1,468
therein depreciation & amortization 1,722 1,671 1,674 1,684
Net Cash Used in Investing Activities -94 -751 -4,821 -1,671
Free Cash Flow 5,063 3,663 411 -3,139
Net Cash Provided by FinancingActivities
-4,202 -5,246 1,751 -5,653
Free Cash Flow = Net Cash Provided by Operating Activities + Net Cash Used in Investing Activities
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48%55%
8%
10%10%
7%
34%28%
0%
50%
100%
Q1'13 Q2'13 Q3'13 Q4'13
Sales Breakdown by App l icat ion
* Revenue portion
%o
fTotalR
evenue
Applications
Commodity
Sever
Low Power
Consumer &
Specialty
Non PC :reach 72%Non
PC :
66%
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Applications
Commodity
Sever
Low Power
Consumer &Specialty
Consumer &
Specialty :
>60%
Low Power :
>20%Non
PC :
54%
2014 Revenue Breakdown Guidance
* Revenue portion by Application
Non-PC:
>80%
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Driv ing Bus iness to Divers i f ied Segments
Growing Product Portfolios are: Storage, Printer, Networking, KGD,
Industrial Grade, Automotive, Pachinko, Low Poweretc.
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Business Update
Capex NT$5.61B Capex of 2013.Estimated NT$3.05B for 2014 Capex.
(mainly for 30nm capacity enhancement and 20nm preparation.)
Bit Shipment Flat bit growth in 2013 YoY. Estimated up to mid-teen% bit shipment decrease in 2014.
NT$ Billion
12 13
23
11
2
5.61
0
5
10
15
20
25
2008 2009 2010 2011 2012 2013 2014
Capex
3.05
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Market Outlook
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DRAM Market Out look Moderate 2014
Market Outlook
Supply The oligopolistic market structure will lead to limited DRAM growth.
Supply remain stable in Q114, supply growth expected in Q214.
Demand
New game consoles (PS4, XBOX one) increase the Graphic DRAM and
DDR3 demand.
Increasing ratio in 4K/2K and smart TV and OTT high end settop box. Server business remain strong.
PC market slightly better than expectation.
DRAM demand will be stimulated by various applications from mobilephones, computer servers and wearable devices.
Price Expect stable DRAM pricing in Q114, moderate correction in Q214, and
remain healthy throughout 2014.
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102%98%
95%
50%
100%
150%
0
7,000
14,000
21,000
28,000
35,000
2012 2013 2014F
Supply, 2Gb eqv. M Demand, 2Gb eqv. M Suff iciency
Y2013/Y2014 DRAM Supp ly -Demand
DRAM supply shortfall continuing into 2014. DRAM Supply/ Demand insufficiency with limited capacity addition and DRAM demand
profile strengthen.Source: Gartner, 2013/12
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DRAM Demand Driven by Non -PC
Source: Gartner, 2013/Q4
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DRAM Demand Driven by Non-PC
0%
20%
40%
60%
80%
100%
2010 2011 2012 2013 2014 2015 2016 2017
Others
Consumer+AIMM*
Mobile Phone
Tablet
Server
Ultramobile PC
NB PC
DT PC
DRAM
BitShare
AIMM* = Automotive, Industrial, Medical, Military
Server
Mobile
Phone
Tablet
PC
Source: Gartner , NTC marketing
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Business Outlook
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2014 Business Out look
Nanya BOD Approved 90% Capital Reduction Plan, summit to
AGM for approval 6/6/2014.
Nanya BOD approved VIS acquisition of Sumpros8-inch Fab at
approximately NT$ 2.18 billion, target closing 7/1/2014. Improved Gross Margin projected for Q114.
Improve Financial Structure & Outlook
Non-PC sales revenue targeted 80% in 2014.
Launched Die Shrink Program.
Focus on Consumer and Low Power Business
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Q & A
The slides herein and the presentation made during the conference contain forward-looking statements and are
provided for information purposes only. Neither Nanya Technology Corp. nor any other person assumes responsibility
for the accuracy and completeness of the forward-looking statements or undertakes duty to update the statements.
Investor(s) is urged to review carefully the information provided herein and shall make investment decision after
conducting their own investigation.