2019 Q3 Results Announcement 31 October 2019
Disclaimer These forward-looking statements reflect the Company’s current expectations, The information contained in this presentation is provided for informational purpose only, and should not be relied upon for the purpose of making any beliefs, hopes, intentions or strategies regarding the future and assumptions in investment or for any other purpose. light of currently available information. Such forward-looking statements are Some of the information used in preparing this presentation was obtained not guarantees of future performance or events and involve known or from third parties or public sources. The information contained in this unknown risks and uncertainties. Accordingly, actual results may differ presentation has not been independently verified. No representation or materially from information contained in the forward-looking statements as a warranty, expressed or implied, is made as to, and no reliance should be result of a number of factors. You should not place undue reliance on such placed on, the fairness, reasonableness, accuracy, completeness or forward-looking statements, and the Company does not undertake any correctness of such information or opinions contained herein. It is not the obligation to update publicly or revise any forward-looking statements. No intention to provide, and you may not rely on this presentation as providing, statement in this presentation is intended to be or may be construed as a profit a complete or comprehensive analysis of our financial or trading position or forecast. prospects. The information and opinions contained in this presentation are We also do not undertake any obligation to provide you with access to any provided as at the date of this presentation and are subject to change additional information or to update this presentation or any additional without notice and will not be updated to reflect any developments which information or to correct any inaccuracies in this presentation or any additional may occur after the date of this presentation. information which may become apparent. All statements, other than statements of historical facts included in this This presentation does not constitute an offer or invitation to purchase or presentation, are or may be forward-looking statements. Forward-looking subscribe for any shares and no part of it shall form the basis of or be relied statements include, but are not limited to, those using words such as upon in connection with any contract, commitment or investment decision in “seek”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, relation thereto. “plan”, “strategy”, “forecast” and similar expressions or future or conditional verbs such as “will”, “would”, “should”, “could”, “may” and “might” . 2
Business Excellence is at the Core of ASMPT 3
O V E R V I E W Th e World’s Back-End Equipment Technology & 43.9% Market Leader Materials Q3 2019 Group Revenue: 11.8% SMT Solutions USD 531m 44.3% (CAGR 2009 – Q3 2019 LTM 13.1%) 4
O V E R V I E W ASMPT 10 12 >2,000 >1,400 Global Presence R&D centres Manufacturing Global R&D Patents on key worldwide facilities staff leading edge technologies Weymouth Beuningen Munich Porto Regensburg Boston Huizhou Taoyuan Hong Kong Shenzhen Sales Offices Chengdu Johor Business Centre / R&D / Manufacturing Site Singapore 5 5
ASMPT’S O V E R V I E W Major Facilities Around The World Huizhou ( 惠州 ) Regensburg Fuyong ( 福永 ) Longgang ( 龙岗 ) Weymouth Munich Taoyuan Beuningen Boston Hong Kong Porto Chengdu ( 成都 ) Sales Offices Business Centre / R&D / Manufacturing Site Singapore Johor 6
Three Business Segments With O V E R V I E W Leading Market Positions SMT SOLUTIONS # 1 in SMT Equipment Market BACK-END EQUIPMENT Since 2016 # 1 in Assembly 2018 Worldwide SMT Market Share: & Packaging ~23% Equipment Market Since 2002 2018 Worldwide MATERIALS PAE Market Share: # 3 in Leadframe ~25% Market Since 2018 2018 Worldwide Leadframe Market Share: ~9% Sources: Market share for Back-end Equipment is based on information on packaging and assembly equipment market by VLSI, 7 leadframe market by SEMI, and SMT market by ASMPT SIPLACE Market Intelligence |
Q 3 H I G H L I G H T S 2019 Q3 Highlights
Q 3 H I G H L I G H T S Double-digit Increases in Q3 Billing QoQ USD QoQ Group: slightly below guidance due to deferral of revenue recognition of Group 531m +15.1% some tools to Q4 BE: Advanced Packaging + CIS contributed to >50% Q3 BE revenue Back-end Equipment 233m +12.8% Segment SMT: Continued to be driven by 5G infrastructure 63m Materials Segment +9.8% Materials: Leadframe market clearly on track to recovery SMT Solutions Segment 235m +19.0% 9
Q3 Billings – Business Segments Q 3 H I G H L I G H T S QoQ Growth: QoQ Growth: QoQ Growth: +12.8% +19.0% +9.8% Back- End Equipment (USD’M) SMT (USD’M) Materials (USD’M) 400 80 350 350 300 63 300 60 235 250 233 250 200 200 40 150 150 100 100 20 50 50 - - - Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 13 13 14 14 15 15 16 16 17 17 18 18 19 19 13 13 14 14 15 15 16 16 17 17 18 18 19 19 13 13 14 14 15 15 16 16 17 17 18 18 19 19 10
Q 3 H I G H L I G H T S Back-end & Materials Booking momentum continued in Q3 USD QoQ BE: Strong bookings led by CIS and China 514m -14.6% Group Materials: 3 quarters consecutive QoQ bookings growth – a clear sign Back-end Equipment of market recovery 262m +6.2% Segment SMT: Q3 bookings ▼ 36.5% vs. high booking level in Q2 64m +7.6% Materials Segment Customers remain cautious in view of macro uncertainties 188m -36.5% SMT Solutions Segment 11
Q3 Bookings – Business Segments Q 3 H I G H L I G H T S QoQ Growth: QoQ Growth: QoQ Growth: +6.2% -36.5% +7.6% Back-end Equipment (USD'M) Materials (USD'M) SMT (USD'M) 450 100 350 90 400 300 80 350 250 70 64 300 262 60 188 200 250 50 200 150 40 150 30 100 100 20 50 50 10 0 0 0 Q1 16 Q3 16 Q1 17 Q3 17 Q1 18 Q3 18 Q1 19 Q3 19 Q1 16 Q3 16 Q1 17 Q3 17 Q1 18 Q3 18 Q1 19 Q3 19 Q1 16 Q3 16 Q1 17 Q3 17 Q1 18 Q3 18 Q1 19 Q3 19 12
Q 3 H I G H L I G H T S Significant improvement in PBT & Net Profit QoQ Gross Margin QoQ Back-end: GM ▲ 267 bps QoQ due to 34.7% -100 bps Group favorable product mix Back-end Equipment 43.4% +267 bps Segment SMT: GM ▼ 486 bps due to sustained effort in penetrating Asian customer 10.3% -111 bps Materials Segment base with typically a lower GM 32.7% -486 bps SMT Solutions Segment HKD 345m +85.6% PBT HKD 222m +217.4% Net Profit 13
Q 3 H I G H L I G H T S Key Highlights: QoQ Bookings Growth: +6.2% Back-end Equipment Segment Advanced Packaging and CIS together contributed to more than 50% of BE revenue in Q3 Significant increase in orders contributed by China Demand for die and wire bonders showed signs of stabilization Segment profit ▲ 168.9% QoQ Cost reduction initiatives taking effect – YoY ▼ 10 bps in GM despite YoY ▼ 23.2% in Billings 14
Q 3 H I G H L I G H T S Key Highlights: SMT Segment Excellent performance extended to Q3 with Billings ▲ 19% QoQ Orders continued to be driven by 5G infrastructure, though offset by weaker Automotive market 9M Billing ▼ only 8% YoY despite challenging year 15
Q 3 H I G H L I G H T S Key Highlights: QoQ Bookings Growth: +7.6% Materials Segment Quarterly Materials Bookings (USD'M) 100 Lead frame market clearly on track to market 90 recovery with consecutive 3 quarters Bookings 80 growth 70 60 50 Double digit YoY ▲ 17.9% Bookings growth for 40 Materials 30 20 10 0 Q1 16 Q3 16 Q1 17 Q3 17 Q1 18 Q3 18 Q1 19 Q3 19 16
Q 3 H I G H L I G H T S R&D Commitment Makes Us a Preferred Partner of Choice R&D expenses 250 9 months 2019 R&D 200 expenditure 12.5% USD million 150 US$ 161 million 100 12.5% of 50 Equipment Sales 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 9M 2019 USD1,584 million invested in R&D Package Interconnection Vibration control SMT Optics precision engineering Laser dicing & grooving 17
Q 3 H I G H L I G H T S An Extensive Customer Base Q3 2019 Geographical Distribution of Revenue No single customer accounted for more than 10% Korea, 3.2% of Group revenue Vietnam, 2.4% Taiwan, 3.2% Thailand, 2.4% Japan, 6.4% Top 5 customers accounted for 18% of Group’s Philippines, 1.1% Americas, 7.5% Q3 2019 revenue India, 1.1% Malaysia, 8.5% Others, 1.0% Top 20 customers include: Europe, 13.0% World’s leading IDMs Tier 1 OSATs, major OSATs in China Key LED players Major camera module makers Top EMS providers Leading automotive component suppliers Among Top 20 customers of Group: 6 from SMT Solutions segment China, 50.2% 4 from both Back-End Equipment & SMT Solutions segment China Leads Market Recovery 18
Endless Opportunities for ASMPT in the Digital World
A P P L I C A T I O N S Advanced Packaging Q3 2019 CMOS Imaging Sensor Revenue Drivers 5G China Market 20
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