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INC.
PHOTRONICS,INC.
1/14/22
A Compelling Investment Thesis
PHOTRONICS,INC. INC.
A GLOBAL LEADER
TECHNOLOGY ALIGNED
INVESTMENT GROWTH
in the merchant
with secular
strategy targeting
photomask industry
growth trends
EPS growth >50%*
Delivering growth
China industry expansion
Top-line growing at twice
by leveraging core competencies
(IC & FPD) - Made in
industry growth rate
Growing more quickly
China 2025
Operating margins
than the market
Display technology
in high-teens
inflections
Free cash flow
Resurgence of legacy
above $100M
foundry sector
*Upper range of fiscal year 2023 target model compared with fiscal year 2021
Win lion's share of "Made in China 2025" TAM growth
Supplement new factories with point tool investments
Capitalize on technology leadership in AMOLED to continue improving mix
Leverage global footprint to exploit growth in "legacy foundry" business
Margin Expansion
Sustained pricing strength in mainstream IC going into 2022
Optimize asset tool set to match end-market demand
Increasing benefit from operating leverage
Explore Strategic Partnerships
5
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Photronics Inc. published this content on 14 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 January 2022 14:21:04 UTC.
Photronics, Inc. is a manufacturer of integrated circuit (IC) and flat panel display (FPD) photomasks. Photomasks are a key element in the manufacture of ICs and FPDs and are used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during the fabrication of ICs, a variety of FPDs and, to a lesser extent, other types of electrical and optical components. The Company sells its photomasks to semiconductor designers and manufacturers, and manufacturers of FPDs. Photomask technology is also being applied to the fabrication of other electronic products such as photonics, microelectronic mechanical systems, and certain nanotechnology applications. The Company operates approximately 11 manufacturing facilities, out of which three are located in Taiwan, one in Korea, three in the United States, two in Europe, and two in China.