ELAN Microelectronics : 2Q23 Earnings Report

August 03, 2023

ELAN 2Q23 Earnings Report

ELAN Microelectronics Corp. (code: 2458), a leading human-machine interface solution provider today announced its 2Q23 unreviewed financial results. As NB clients had obviously destocked successively, the momentum of pull-in components had improved compared with the previous quarter, and there were quite a lot of rush orders, the 2Q23 sales reached to NT$3,042 million, with an increase of 26.5% QoQ. However, it decreased by 26.7% YoY due to the consumer electronics market being softer than the same period of last year and still waiting to pick up.

2Q23 gross margin increased by 340 bps QoQ to 44.1%, mainly due to product mix factors. The gross margins of Touchpad Module, Touchscreen Controller, Pointstick (PST) & Fingerprint Sensor were higher than those in 1Q23. Meanwhile, the reverse of the inventory write-down loss also led to better gross margin than 1Q23. Operating profit rose 1.65 times QoQ due to sales recovery and gross profit increase, but it went down by 49.8% YoY due to shrinking sales and gross profit. The net profit and EPS attributable to the parent company were NT$494 million and NT$1.74, respectively.

Our outlook for 3Q23 is: benefiting from the gradually recovering NB market demand is expected to bring positive effect to our operations.

Unit: in NT$ M, EPS in NT$

	2Q23	2Q22	YoY
Consolidated Sales	3,042	4,148	-26.7%
Gross Profit	1,343	1,973	-31.9%
Operating Profit	562	1,120	-49.8%
Net Profit (Parent)	494	784	-37.0%
EPS	1.74	2.75	-36.7%
Gross Margin	44.1%	47.6%

http://www.emc.com.tw/emc/en.>>

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Presentation material for investor conference could be found at http://www.emc.com.tw/emc/en/Investor/seminar

Contacts：
 Spokesperson: Dennis Liu	E-mail: [e-mail]
 IR contact:	Emily Chiang	E-mail: [e-mail]

http://www.emc.com.tw/emc/en.>>

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