ELAN Microelectronics : 3Q22 Earnings Report

November 03, 2022

ELAN 3Q22 Earnings Report

ELAN Microelectronics Corp. (code: 2458), a leading human-machine interface solution provider today announced its 3Q22 unaudited financial results. 3Q business was contra-seasonal as NB demand turned softer due to inflations, Ukraine-Russia wars and CN lockdowns, while the downstream customers focused on inventory digestion in the quarter due to elevated inventory levels. Sales came in at NT$2,819 million, down 32% sequentially, and down 43.3 % on year. Sales for the first 3 quarters 2022 were NT$11,066 million, down 21.9% annually.

3Q22 gross margin of 46.5% declined by 100bps qoq due to lower contribution of high-gross-margin touchscreen products, while it dropped by 450 bps yoy on higher production costs on top of lower contribution of high-gross-margin touchscreen products. Operating profit went down by 52.4% qoq or 68.2% yoy on smaller business scale and lower gross margin. Non-op income of NT$91 million was mainly attributed to forex gains, driven by weaker NTD. Net profit and EPS for the quarter were NT$522 million and NT$1.83, respectively.

Our outlook for 4Q22 is: revenue to be NT$1.8~2.0 billion due to seasonal softness and inventory adjustment in the supply chain; GM to be 45%~47%; and OPM to be 3.6%~9.8%.

Unit: in NT$ M, EPS in NT$

	3Q22	3Q21	YoY
Consolidated Sales	2,819	4,974	-43.3%
Gross Profit	1,312	2,539	-48.3%
Operating Profit	532	1,672	-68.2%
Net Profit (Attributable to	522	1,362	-61.7%
Owners of the Parent)
EPS	1.83	4.70	-61.1%
Gross Margin	46.5%	51.0%

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]
	Elsie Lin	E-mail: [e-mail]

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

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