Enhanced Investments - Financial Portal

Published: 2024-02-22 06:10:45 ET

EX-99.2 3 imos-ex99_2.htm EX-99.2

February 2024 Industry Leading Provider of Outsourced Semiconductor Assembly, Test & Bumping Services 4Q23 & Full Year Results Conference Exhibit 99.2

Safe Harbor Notice This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes,’ ‘expects,’ ‘anticipates,’ ‘projects,’ ‘intends,’ ‘should,’ ‘seeks,’ ‘estimates,’ ‘future’ or similar expressions or by discussion of, among other things, strategies, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors. Further information regarding these risks, uncertainties and other factors are included in the Company’s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) and in the Company’s other filings with the SEC.

Agenda Welcome 4Q/FY2023 Operating Results S.J. Cheng 4Q/FY2023 Financial Results Silvia Su Business Outlook S.J. Cheng Q&A

4 4Q/FY2023 Operating Results

Revenue & Gross Margin 5 4Q23 Revenue: NT$5,725.4M (QoQ: +2.6%, YoY: +22.2%) Gross Margin: 20.1% (QoQ: +4.2ppts, YoY: +5.6ppts) 2023 Revenue: NT$21,356.2M (YoY: -9.2%) Gross Margin: 16.6% (YoY: -4.3ppts)

Utilization Rate 6 Note: To effectively reflect changes in product characteristic and mix, the utilization calculation target of manufacturing site, which output calculated by wafer quantity, was changed to run time from wafer quantity since 1Q22. 4Q23: 57% 3Q23: 47% 4Q22: 46% 4Q23: 53% 3Q23: 65% 4Q22: 41% 4Q23: 71% 3Q23: 74% 4Q22: 53% 4Q23: 62% 3Q23: 63% 4Q22: 49% 4Q23: 61% 3Q23: 60% 4Q22: 53%

4Q23 Revenue Breakdown Product Manufacturing Site

Revenue Breakdown － Memory 8 4Q23: 36.2% (QoQ: +9.5%, YoY: +9.9%)

Revenue Breakdown － DDIC + Gold Bump 9 4Q23: 56.0% (QoQ: -2.6%, YoY: +40.5%)

Revenue Breakdown － End Market 10 DDIC & Gold bump Memory & Mixed-signal Content Performance of 4Q23 Smart Mobile 35.2% (QoQ +7.3%) TV 14.7% (QoQ -14.5%) Computing 4.9% (QoQ +5.6%) Auto/Industry 21.2% (QoQ +6.9%) Consumer 24.0% (QoQ +4.3%) Smart phone Wearable UHD/4K/8K TV OLED TV NB/Tablet PC / Server SSD In-car infotainment ADAS / sensor Game, TWS Smart speaker DSC, STB

11 4Q/FY2023 Financial Results

Consolidated Operating Results Summary

Consolidated Statements of Comprehensive Income Note (1) : QoQ: Difference mainly due to the increase of the foreign exchange losses of NT$362M from the foreign exchange gains of NT$167M in 3Q23 to the foreign exchange losses of NT$195M in 4Q23 and the decrease of rental income of NT$9M.

Consolidated Statements of Comprehensive Income Note (1): Difference mainly due to the decrease of the foreign exchange gains of NT$370M and share of profit of associates accounted for using equity method of NT$234M and partially offset by the increase of interest income of NT$136M.

Consolidated Statements of Financial Position & Key Indices

Consolidated Statements of Cash Flows Notes : Free cash flow was calculated by adding depreciation, amortization, interest income together with operating profit and then subtracting CapEx, interest expense, income tax expense and dividend from the sum. (2) Difference mainly due to the decrease of operating profit of NT$1,308M and partially offset by the decrease of CapEx of NT$1,690M, cash dividend paid NT$1,454M and income tax expense of NT$281M.

Capital Expenditures & Depreciation 17 CapEx: NT$1,499.2M (4Q23); NT$3,228.5M (2023) Depreciation: NT$1,157.6M (4Q23); NT$4,779.3M (2023)

18 Business Outlook

Expect Q1 to be normal seasonal trough quarter for 2024, with fewer working days for Lunar New Year and Inventory adjustments from Q4 continuing into Q1 Based on current market environment, expect operating momentum will improve through 2024, with a stronger second half of the year Memory: Momentum better than DDIC NAND Flash demand is rebounding Assembly and test UT are impacted by the continued destocking and softer demand at certain customers DDIC: Softness in end product demand impacts UT level of TVs and Smart phone products Auto panel and OLED demand generally stable, led high UT level of high-end DDIC test Cautiously add new capacity based on UT level and customer demand Market & Business Outlook

Q&A www.chipmos.com

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.