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


2020/02/05

1


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


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


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


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


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


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



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



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


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


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


Holtek Worldwide Sales-4Q19 QOQ

12

2019/Q4 total sales: NT$ 1,221million (QOQ + 8.9%)

2019/Q4


2019/Q3

83775%

16815%

11610%

Taiwan

International

China/ HK

94677%

(+ 13%)

14612%

(- 14%)

12911%

(+12%)

Taiwan

International

China/ HK


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%)



2019 MCU sales: NT$3,510million (76% of total sales) (YOY -5%)

13

19Q4：YOY +3%；QOQ +12%


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%)



2019 MCU shipments: 653KKpcs (YOY -3%)

19Q4：YOY +9%；QOQ +17%

14


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%)




15

19Q4：YOY +11%；QOQ +18%


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%)




16

19Q4：YOY +32%；QOQ +49%


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%)



17

19Q4：YOY +37%；QOQ +6%


Standalone Detectors

Safety Care Market

2018 shipments: 15KK pcs

2019 shipments: 17KK pcs (YoY +16%)

NB-IoT Smoke Detector Solution is ready

18


Networked Fire Alarm Systems

19


Networked Emergency Lighting Systems

20


2018 Safety Care shipments: 15KK pcs (YOY +33%)

2019 Safety Care shipments: 17KK pcs (YOY +16%)

Safety Care Application Shipments Unit: K pcs

21


Healthcare Market2018 shipments: 34KK pcs; 2019 shipments: 40KK (YoY +19%)

HCT technology of Blood Glucose is under development

22


Unit: K pcs

Healthcare Application Shipments

2018 Healthcare shipments: 34KK pcs (YOY +9%)

2019 Healthcare shipments: 40KK pcs (YOY +19%)

23


Global Brushless DC Motors

Market 2016-2021

Sources: Technavio、IEK

24

BLDC - USD1 billion BLDC - Growth Rate (%)


Electric ToolsGarden Tools

Massage Guns Air Purifiers Electric Fans Vacuum Cleaners

BLDC Application Products

25


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


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/Q4 total sales: NT$ 1,221million(QOQ +8.9%)

Holtek Applications-4Q19 QOQ


Holtek is a sincere and trustworthy partner that

you can rely upon for your long term

investment.

HOLTEK SEMICONDUCTOR INC.

30

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