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Foundry leader TSMC (2330-TW) conducted an online statement today (14) to announce its financial report and publish its operating outlook. In the fourth quarter of last year, the double rate, net income and EPS set new highs. Issues like capital expenditures, Intel outsourcing orders, and plans for overseas expansion are all focal points of the law. “Juheng.com” has solved the nine key points of this conference, so that readers can understand them in a single article.
Last year’s net profit per share was 19.97 yuan and 1.4 billion yuan was made every day.
TSMC’s double rates in the fourth quarter of last year were better than financial estimates and set new highs. The gross profit margin was 54%, the profit margin was 43.5%, and the net profit after tax for a single quarter was 142.77 billion yuan, a quarterly increase of 4% and an annual increase of 23 %. The net profit was 5.51 yuan, and the net profit and EPS continued to write new rules; annual net profit after tax was 517.885 million yuan, an annual increase of 50%, which is equivalent to an average daily profit of more than 1.4 billion yuan last year, a net profit per share of 19.97 yuan and almost 2 shares.
It is estimated that the Q1 operation will continue to be high-end
In the first quarter of this year, benefiting from strong demand for efficient computing, declining demand for vehicles, and slightly milder seasonal effects of smartphones, the capacity utilization rate remained high and operation out The season was not weak, with estimated revenues of $ 12.7 to $ 13 billion. The 0.16-2.5% quarterly increase will continue to record highs. The gross profit margin is estimated at 50.5-52.5%, and the profit margin is estimated at 39.5-41.5%, down from the previous quarter, but still high.
Industry and revenue continue to grow this year, revenue will reach a year-on-year high until 2025
TSMC estimates that the production value of the semiconductor industry (excluding memory) will grow 8% this year, and the production value of the foundry is estimated to grow 10%, while TSMC’s advanced process technology maintains its leading position in the industry, and 5G mobile phones, efficient computing, automotive, Internet of things. Other platforms have strong momentum, customers are optimistic about the prospects for terminal applications, and demand for advanced processes is booming. Revenues in US dollars are expected to grow 14-16% this year, which which is better than the industry average.
TSMC’s revenue reached a record in 2010 and has been growing year over year. According to TSMC estimates, the annual revenue will grow year-over-year by 2025, and the compound annual revenue growth rate in USD (CACG) will reach 10-15%. , Which also means that TSMC will write a record of 16 consecutive years of income rewriting a record, not in vain of the title of “product”, the god of protection.
This year’s capex has increased by as much as $ 28 billion.
TSMC’s annual capital expenditures totaled $ 17.2 billion last year, and this year’s capital expenditures will reach $ 25-28 billion, which is much higher than the $ 22 billion originally expected by foreign investment, equivalent to an annual increase of 45-62%, of which 80% will be used for advanced manufacturing processes. 10% is used for advanced packaging technology mass production requirements and 10% is used for special manufacturing processes.
This year’s best mobile phone for cars and efficient computing, and the Internet of things is approaching average growth
TSMC estimates that this year’s automotive and high-performance computing demand will be better than the company’s average revenue growth rate, mobile phones and the Internet of Things will be close to average, and advanced packaging and other processes in the last stage will be slightly better than average.
The 5G mobile phone penetration rate is estimated to reach 35%
TSMC estimates that global smartphone shipments will grow 10% this year. Among them, the 5G mobile phone penetration rate reached 18% last year and is expected to exceed 35% this year, showing strong growth momentum.
Talk about Intel’s outsourcing order
TSMC has significantly increased its capex this year to $ 25-28 billion, which is significantly higher than external expectations. Therefore, foreign investors are concerned about whether it is related to Intel’s outsourced manufacturing orders. In this regard, Chairman Wei Zhejia only emphasized that TSMC has never commented on individual clients or raised it. Capital expenditures are driven by optimism about applications like 5G and high-performance computing. The long-term momentum is strong and will support customer needs.
Watching the continued appreciation of the exchange rate of the new Taiwan dollar to 27.9 yuan
TSMC’s quarterly exchange rate forecasts for the New Taiwan Dollar are considered as indicators for the industry to observe the trend of the New Taiwan Dollar. Although the central bank has frequently taken steps to block the rise recently, and has rarely asked all sectors to jointly stabilize the currency market, since the first quarter of TSMC’s financial estimates, the exchange rate assumption from the New Taiwan dollar to 27.9 yuan, it is obvious that the exchange rate of the New Taiwan dollar has risen above 28 yuan. Must do.
Expansion plan abroad
President Liu Deyin said the Arizona plant is currently aiming to reach a monthly production capacity of 20,000 pieces by 2024 when mass-produced. In the future, it will not rule out the next phase of expansion plans; while the Nanjing plant has plans to gradually expand its production capacity. TSMC also confirmed for the first time after the legal meeting that it is evaluating the establishment of a materials research and development center in Japan, but has not made a final investment decision yet.
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