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Copyright © 2024 YAGEO Group All Rights Reserved 1 1Q2025 Earning Conference YAGEO Corporation 2025/04/17
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Copyright © 2024 YAGEO Group All Rights Reserved 2 Disclaimer This presentation has been prepared by YAGEO Corporation (the “Company”). This presentation and the materials provided herewith do not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Any decision to purchase securities in a proposed offering should be made solely on the basis of the information contained in the offering circular published in relation to such proposed offering, if any. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information contained in this document should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. None of the Company nor any of its affiliates, advisors or representatives will be liable (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation.
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Copyright © 2024 YAGEO Group All Rights Reserved 3 Agenda ⚫ 1Q2025 Results Overview ⚫ 1Q2025 Sales Breakdown ⚫ 1Q2025 Financial Flexibility Highlight ⚫ Shibaura Electronics TOB Update ⚫ Q&A
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Copyright © 2024 YAGEO Group All Rights Reserved 4 1Q2025 Results Overview Amount in NT$ Million Net Sales 31,104 [QoQ: +3.7% | YoY: +9.1%] • Net Sales +3.7% QoQ is better than historical pattern and with growth from all regions • Robust Gross Margin expansion mainly due to mix and especially from good momentum on advanced application components • Delivered +49.1% more on Net Income QoQ and +20.5% more YoY from both higher Net Sales and Margin Gross Margin 35.6% [QoQ: +2.5ppts | YoY: +1.8ppts] Operating Margin 20.8% [QoQ: +2.9ppts | YoY: +3.4ppts] Net Income 5,530 [QoQ: +49.1% | YoY: +20.5%] EBITDA Margin 28.2% [QoQ: +3.2ppts | YoY: +2.5ppts] EPS 10.77 [QoQ: +49.1% | YoY: +17.9%]
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Copyright © 2024 YAGEO Group All Rights Reserved 5 1Q2025 Sales Breakdown • Higher AI content demand driving growth on Tantalum, MLCC and Resistor • Magnetics lower due to Automotive • AI driving strong growth on Computing & ESs • Industrial continues to face headwinds in Americas and EMEA • Modest growth for Automotive in China offset by Americas and EMEA By Segment By Product
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Copyright © 2024 YAGEO Group All Rights Reserved 6 1Q2025 Sales Breakdown • All regions grew QoQ in absolute terms, while mix was impacted by seasonal factors. • AI demand mostly from customers in Asia and US • EV is an additional growth engine for China • Inventory levels at Distributors approaching healthy levels with pull-ins on select part numbers. • Direct sales mix lower due to automotive segment customers By Channel By Region
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Copyright © 2024 YAGEO Group All Rights Reserved 7 Net Financial Debt / LTM EBITDA 1Q2025 Financial Flexibility Highlight • Stable and sustained cash generation from: 1. Strong and profitable business growth 2. Continued reduction of inventory levels • Continued focus on reducing leverage to provide financial flexibility and capture future growth opportunities Free Cash Flow (NTD Ms)
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Copyright © 2024 YAGEO Group All Rights Reserved 8 Shibaura Electronics TOB Update Key Events Since 4Q24 Earnings Conference: Response on Shibaura’s Proposal Statement: 1) Inadequate direct engagement to support Shibaura’s opinion on YAGEO TOB proposal 2) Significant sales synergy potential through YAGEO’s global sales channel 3) YAGEO has many business units with custom-made products that are similar in nature with Shibaura’s 4) YAGEO has proven experience operating a global business Upcoming: 2025/05/07: Expected Commencement of TOB 3Q2025: Expected closing of the TOB Date Event 03/06/2025 YAGEO Submitted Responses to Shibaura’s List of Questionnaires 03/26/2025 YAGEO Submitted Responses to Shibaura’s List of 2nd Questionnaires 04/02/2025 YAGEO Meets with Shibaura’s Management and Special Committee
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Copyright © 2024 YAGEO Group All Rights Reserved 9 APPENDIX
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Copyright © 2024 YAGEO Group All Rights Reserved 10 1Q2025 Income Statement - Q-Q/Y-Y Change of Net Sales, Cost of Sales , and EPS is in %, the rest of Changes is in percentage point. - The financial data is based on T-IFRS Amount in NT$ MillionYAGEO Consolidation (reviewed)
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Copyright © 2024 YAGEO Group All Rights Reserved 11 Amount in NT$ MillionYAGEO Consolidation (reviewed) 1Q2025 Selected Balance Sheet Summary - The financial data is based on T-IFRS
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Copyright © 2024 YAGEO Group All Rights Reserved 12 WWW.YAGEO.COM Thank you!謝謝你!