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Taipei Feb 14, 2020 (Thomson StreetEvents) — Edited Transcript of Himax Applied sciences Inc earnings convention name or presentation Thursday, February 13, 2020 at 1:00:00pm GMT

Himax Applied sciences, Inc. – CFO

Himax Applied sciences, Inc. – Founder, CEO, President & Director

MZ Group S.A. – MD of MZ North America

Women and gents, thanks for standing by, and welcome to the Himax Applied sciences Fourth Quarter and Full Yr 2019 Earnings Name. (Operator Directions). Please be suggested in the present day’s convention is being recorded. (Operator Directions).

I’d now like handy the convention over to your speaker, Maili Bergman, Managing Director of MZ Group. Please go forward.

Maili Bergman, MZ Group S.A. – MD of MZ North America [2]

Thanks a lot. Welcome, everybody, to Himax’s Fourth Quarter 2019 Earnings Name. Becoming a member of us from the corporate are Jordan Wu, President and Chief Govt Officer; and Ms. Jackie Chang, Chief Monetary Officer. After the corporate’s ready remarks, we can have allotted time for questions in a Q&A session. You probably have not but acquired a duplicate of in the present day’s outcomes press launch, please e-mail [email protected], or entry the press launch on monetary portals or obtain a duplicate from Himax’s web site at www himax.com.tw.

Earlier than I start with the formal work, I might wish to remind everybody that among the statements on this convention name embody statements relating to anticipated future outcomes, monetary future outcomes and business development and are forward-looking statements that contain a lot of dangers and uncertainties that might trigger precise occasions or outcomes to vary materially from these described on this convention name. Components that might trigger precise occasions or outcomes to vary materially from these described on this convention name could embody, however will not be restricted to, basic enterprise and financial circumstances, the state of the semiconductor business, market acceptance and competitiveness of the driving force and non-driver merchandise developed by Himax, demand for end-use utility merchandise, the uncertainty of continued success in technological improvements in addition to the opposite operational and market challenges and different dangers described every so often within the firm’s SEC filings, together with these recognized and in part entitled Threat Components in its Type 20-F for the 12 months ended December 31, 2018, filed with the SEC in March of 2019, apart from the corporate’s full 12 months of 2018 outcomes which had been supplied within the firm’s 20-F and filed with the SEC on March 29, 2019. The monetary info included on this convention name is unaudited and consolidated and ready in accordance with IFRS accounting.

Such monetary info is generated internally and has not been subjected to the identical overview scrutiny, together with inside auditing procedures and exterior audits by an impartial auditor, to which we topic our annual consolidated monetary statements and will range materially from these audited consolidated monetary info for a similar interval.

The corporate undertakes no obligation to publicly replace or revise any forward-looking statements, whether or not on account of new info, future occasions or in any other case. I’ll now flip the decision over to Ms. Jackie Chang, CFO of Himax. The ground is yours, Jackie.


Jacqueline Chang, Himax Applied sciences, Inc. – CFO [3]


Thanks, Maili, and thanks, everyone, for becoming a member of us. In in the present day’s name, we’ll first overview Himax’s consolidated monetary efficiency for the fourth quarter adopted by the primary quarter 2020 outlook. Jordan will then give an replace on the standing of our enterprise. After which, we’ll take questions. We are going to overview our financials on each IFRS and non-IFRS foundation. The non-IFRS financials exclude share-based compensation and acquisition-related prices. We preannounced preliminary key monetary outcomes for the fourth quarter on January 7, 2020, because the income, gross margin and EPS of the quarter all exceeded our steering issued on November 7, 2019. Income and gross margin had been according to the pre-announced outcomes whereas EPS had been on the excessive finish of the vary.

For the fourth quarter, we recorded internet revenues of $174.9 million, a rise of 6.5% sequentially. And a lower of 8.4% in comparison with the identical interval final 12 months. Revenues had been higher than our steering of flat quarter-over-quarter, each show driver and non-driver companies contributed to the higher than guided gross sales. Gross margin was 20.6%, exceeding the prior steering of a slight improve in comparison with third quarter’s 19.5%. A extra favorable product combine amongst small show merchandise, improved WLO manufacturing facility utilization and higher-than-expected engineering charges from new venture engagements, improve the gross margin for the fourth quarter.

IFRS revenue per diluted ADS was $0.006, exceeding our steering of a lack of $0.03 to $0.045…