holtek semiconductor inc. · 2019-10-28 · 2019/q3 operating results holtek semiconductor inc....
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2019/Q3 Operating Results
Holtek Semiconductor Inc.
Professional MCU IC Provider
2019/Q3 Operating Results
2019/10/28
1
2019/Q3 Operating Results
Yearly Operating ResultsNT$ Million
3,931 3,9684,158
4,8634,615
3,363
680807792 784
9261,064
46.8%48.5%
49.2% 49.5%49.1%47.9%
0
1,000
2,000
3,000
4,000
5,000
6,000
2014 2015 2016 2017 2018 2019/1~9
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
Sales Income after tax and minority interest Gross Margin%
2
2019/Q3 Operating Results
Operation & Financial Structure
2014 2015 2016 2017 2018 2019/1~9
226,168 226,168 226,168 226,168 226,168 226,168
3.50 3.57 3.47 4.10 4.70 3.01
3.50 3.57 3.50 4.10 4.70 N/A
- - - - - N/A
20% 20% 20% 23% 26% 17%
17.86 17.81 17.53 18.00 18.57 16.93
11.64 11.20 11.82 11.88 12.33 10.36
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$)
3
2019/Q3 Operating Results
Quarterly Results
908
1,094 1,071
1,085 1,086 1,155
1,125
1,249
1,086
1,330 1,259
1,188
1,038
1,205
1,121
168 202 207 207 185228 237
276226
312262 263
203255 222
48.6% 49.1% 48.6%
47.7%45.8%
45.4%
48.1% 47.9% 48.9% 49.7%49.4%
48.8% 48.5% 49.3%50.7%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
0
200
400
600
800
1,000
1,200
1,400
Sales Income after tax and minority interest Gross Margin%
4
NT$ million
2019/Q3 Operating Results
Holtek Semiconductor Inc.Consolidated Income Statements-2019/Q3
NT$ K
2019/Q3 2018/Q3 2019/Q2 YOY QOQ
Amount % Amount % Amount % % %
Sales 1,120,656 100.0 1,258,959 100.0 1,204,932 100.0 (11.0) (7.0)
Cost of Sales 569,317 50.8 637,590 50.6 610,778 50.7 (10.7) (6.8)
Gross Profit 551,339 49.2 621,369 49.4 594,154 49.3 (11.3) (7.2)
Unrealized Gross Profit (16,909) - (249) - 159 - - -
Realized Gross Profit 568,248 50.7 621,618 49.4 593,995 49.3 (8.6) (4.3)
Operating Expenses 319,700 28.5 328,668 26.1 316,179 26.2 (2.7) 1.1
Operating Income 248,548 22.2 292,950 23.3 277,816 23.1 (15.2) (10.5)
Non-Operating Income (Net)3,200
0.3 11,304 0.9 19,803 1.6 - -
Income Before Tax 251,748 22.5 304,254 24.2 297,619 24.7 (17.3) (15.4)
Tax/Minority Interest 29,876 (2.7) 41,907 (3.4) 42,745 (3.5) (28.7) (30.1)
Net Income 221,872 19.8 262,347 20.8 254,874 21.2 (15.4) (12.9)
EPS 0.98 1.16 1.13
5
2019/Q3 Operating Results
Holtek Semiconductor Inc.Consolidated Income Statements-2019/1~9
NT$ K
2019/1~9 2018/1~9 YOY
Amount % Amount % %
Sales 3,363,444 100.0 3,674,533 100.0 (8.5)
Cost of Sales 1,708,737 50.8 1,847,975 50.3 (7.5)
Gross Profit 1,654,707 49.2 1,826,558 49.7 (9.4)
Unrealized Gross Profit (11,354) 0.3 12,588 (0.3) -
Realized Gross Profit 1,666,061 49.5 1,813,970 49.4 (8.2)
Operating Expenses 946,082 28.1 967,088 26.3 (2.2)
Operating Income 719,979 21.4 846,882 23.0 (15.0)
Non-Operating Income (Net) 64,938 1.9 82,924 2.3 -
Income Before Tax 784,917 23.3 929,806 25.3 (15.6)
Tax/ Minority Interest 104,799 (3.1) 129,221 (3.5) (18.9)
Net Income 680,118 20.2 800,585 21.8 (15.0)
EPS 3.01 3.54
6
2019/Q3 Operating Results
NT$ K2018.09.30 2017.09.30 2017.12.31
Assets Amount % Amount % Amount %
Current Assets:
Cash and Cash Equivalents 1,148,163 22 1,291,740 25 1,517,632 27
Bond Funds 543,022 10 532,170 10 486,555 9
Notes and Accounts Receivable 101,992 2 123,632 2 97,604 2
Receivables from Related Companies 620,435 12 752,498 14 749,789 13
Inventories 746,096 14 689,560 13 654,866 12
Other Financial Assets - Current 652,625 12 624,629 12 784,175 14
Other Current Assets 37,437 1 32,662 1 31,490 1
3,849,770 73 4,046,891 77 4,322,111 78
Non-Current Assets:
Financial Assets at Fair Value through Profit or
Loss298,354 6 321,041 6 265,161 5
Investment by Cost Method 450,142 9 421,851 8 449,015 8
Investment by Equity Method 369,584 7 395,707 7 398,515 7
Properties 94,453 2 - - - -
Income Tax Assets 74,732 1 48,826 1 69,706 1
Other Non-current Assets 86,201 2 46,297 1 50,992 1
1,373,466 27 1,233,722 23 1,233,389 22
Total Assets 5,223,236 100 5,280,613 100 5,555,500 100
Holtek Semiconductor Inc.Consolidated Balance Sheets
7
2019/Q3 Operating Results
Holtek Semiconductor Inc.Consolidated Balance Sheets
NT$ K
2018.09.30 2017.09.30 2017.12.31
Amount % Amount % Amount %
Liabilities
Current Liabilities:
Notes payable 181,412 3 147,940 3 125,021 2
Accounts Payable 495,995 10 516,422 10 489,388 9
Accrued Salaries 225,586 4 249,621 5 281,788 5
Current Income Tax
Payable46,974 1 85,302 2 97,904 2
Other Current Liabilities 92,283 2 82,121 1 85,382 2
1,042,250 20 1,081,406 21 1,079,483 20
Non-current Liabilities:
Income Tax Liabilities 166,610 3 109,312 2 166,610 3
Lease Liabilities 77,165 2 - - - -
Net defined benefit liability 75,069 1 71,709 1 76,602 1
Deposits Received 8,542 - 8,705 - 8,706 -
327,386 6 189,726 3 251,918 4
Total Liabilities 1,369,636 26 1,271,132 24 1,331,401 24
8
2019/Q3 Operating Results
Holtek Semiconductor Inc.Consolidated Balance Sheets NT$ K
2018.09.30 2017.09.30 2017.12.31
Stockholders' Equity Amount % Amount % Amount %
Shareholders' Equity Attributed to Parent Company:
Common Stock 2,261,682 43 2,261,682 43 2,261,682 41
Capital Surplus 142,309 3 142,309 3 142,309 3
Reserve 1,449,692 28 1,572,299 30 1,832,565 33
Other Adjustments (24,295) - 9,841 - (37,386) (1)
Total Shareholders' Equity Attributed to
Parent Company3,829,388 74 3,986,131 76 4,199,170 76
Minority Interest 24,212 - 23,350 - 24,929 -
Total Shareholders' Equity 3,853,600 74 4,009,481 76 4,224,099 76
Total Liabilities & Shareholders' Equity 5,223,236 100 5,280,613 100 5,555,500 100
9
2019/Q3 Operating Results
Holtek Worldwide Sales-2018/1~9 YOY
Unit: NT$ million, %
10
2,52975%
(- 10%)
51415%
(+ 3%)
32010%
(- 13%)International
China/ HK
Taiwan
2019/1~9
2019/1~9 total sales: NT$ 3,363 million (YOY – 8.5%)
2,80676%
50014%
36910%
International
China/ HK
Taiwan
2018/1~9
2018/1~9 total sales: NT$ 3,675 million
盛群半導體 107年第一季法人說明會2018/Q1 Operating Results2019/Q3 Operating Results
Unit: NT$ million, %
Holtek Worldwide Sales-3Q19 YOY
2019/Q3 total sales: NT$ 1,121million (YOY – 11.0%)
2019/Q3
11
83775%
(- 14%)
16815%
(- 7%)
11610%
(+ 8%)
Taiwan
International
China/ HK
2018/Q3 total sales: NT$ 1,259million
2018/Q3
97077%
18214%
1079%
Taiwan
International
China/ HK
盛群半導體 107年第一季法人說明會2018/Q1 Operating Results2019/Q3 Operating Results
Unit: NT$ million, %
Holtek Worldwide Sales-3Q18 QOQ
12
2019/Q3 total sales: NT$ 1,121million (QOQ – 7.0%)
2019/Q3
83775%
(- 9%)
16815%
(- 5%)
11610%
(+ 8%)
Taiwan
International
China/ HK
92176%
17715%
1079%
Taiwan
International
China/ HK
2019/Q2 total sales: NT$ 1,205million
2019/Q2
2019/Q3 Operating Results
Total MCU IC Sales NT$ million
635772 765 793
782
839 824
954
803
1,017965
927
785
919853
70% 70% 71%
73% 72% 73%73%
76% 74% 76% 76%78%
76% 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 19Q3
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%)
2019/1~9 MCU sales: NT$2,558million (76% of total sales) (YOY -8%)
13
19Q3:YOY -12%;QOQ -7%
2019/Q3 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
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 16Q3
2016 MCU shipments: 516KKpcs (YOY +11%)
2017 MCU shipments: 625KKpcs (YOY +21%)
2018 MCU shipments: 673KKpcs (YOY +8%)
2019/1~9 MCU shipments: 470KKpcs (YOY -7%)
19Q3:YOY -11%;QOQ -6%
14
2019/Q3 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
123,615 118,135
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%)
2019/1~9 Flash MCU shipments: 347KK (74%) (YOY +1.2%)
15
19Q3:YOY -4%;QOQ -4%
2019/Q3 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 36,701
31,033
38,195
32,583
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%)
2019/1~9 Touch MCU shipments: 102KK (22%) (YOY +4%)
16
19Q3:YOY -11%;QOQ -15%
2019/Q3 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
5,7195,989
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
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%)
2019/1~9 32-bit MCU shipments: 15,305K (3%) (YOY +31%)
17
19Q3:YOY +104%;QOQ +5%
2019/Q3 Operating Results
Holtek Applications-2019/1~9
18
E-Banking
1%Health Care
13%
Home Appliance
41%(-2%)
Industrial
Control15%
Others
14%
PC Peripheral
6%
Security
8%
Toy &
Educational2%
E-Banking
2%Health Care
11%
Home Appliance
38%
Industrial
Control19%
Others
15%
PC Peripheral
7%
Security
6%
Toy &
Educational2%
2018/1~9
2019/1~9
2019/Q3 Operating Results
Holtek Applications-19Q3 QOQ
19
E-Banking
1% Health Care
13%
Home Appliance
42%
Industrial
Control15%
Others
14%
PC Peripheral
5%
Security
8%
Toy &
Educational2%
2019/Q2
E-Banking
2% Health Care
14%
Home Appliance
37%(-19%)
Industrial
Control16%
Others
14%
PC Peripheral
7%
Security
8%
Toy &
Educational2%
2019/Q3
2019/Q3 Operating Results
Standalone Detectors
Safety Care Market
2018 shipments: 14KK pcs;
NB-IoT Smoke Detector Solution is ready
2019/1~9 shipments is 13KK (YoY +27%)
20
2019/Q3 Operating Results
Healthcare Market2018 shipments: 34KK pcs; 2019/1~9 shipments 30KK (YoY +17%)
HCT technology of Blood Glucose is under development
21
2019/Q3 Operating Results
Big DataInternet of Things
22
2019/Q3 Operating Results
HOLTEK 2019
NEW PRODUCTS
23
2019/Q3 Operating Results
Holtek is a sincere and trustworthy partner that
you can rely upon for your long term
investment.
HOLTEK SEMICONDUCTOR INC.
24