Financial Data and Key Metrics Changes - The company achieved record earnings per share of HKD 7.72, with revenue reaching $2.82 billion, representing a 49.3% year-on-year growth [7][8] - Record bookings of $3.36 billion were noted, reflecting a year-on-year growth of 65.6% [10] - The net profit for the fiscal year was HKD 3.24 billion, with a gross margin of 40.6% and an operating margin of 18.9%, showing significant year-on-year expansions [10][11] Business Line Data and Key Metrics Changes - The SEMI segment showed robust performance with strong year-on-year revenue growth and record segment profit in Q4 [13] - The SMT segment achieved bookings of $360 million, marking a healthy year-on-year increase, with full-year segment profit reaching a record of $1.38 billion, nearly doubling from the previous year [14] - Advanced Packaging (AP) solutions revenue grew approximately 35% year-on-year to around $590 million [16] Market Data and Key Metrics Changes - The automotive end market application contributed approximately $430 million to Group 2021 revenue, more than doubling from the previous year [18] - The demand for Mini LED and Micro LED applications is expected to expand significantly, with a five-year CAGR of 55% [19] - The company added 17 customers in the Mini LED space in 2021, indicating a broadening customer base [20] Company Strategy and Development Direction - The company aims to deepen its leadership in semiconductor and electronics manufacturing through strategic initiatives and investments in high-growth markets [4][28] - Focus areas include expanding market share in targeted segments, enhancing technological leadership in Advanced Packaging, and investing in automation and AI-driven solutions [27][31] - The company is positioned to capture opportunities in automotive electrification and advanced display technologies [18][19] Management Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing challenges in the global supply chain and the impact of COVID-19 on customer readiness and delivery timing [42] - The outlook for 2022 is projected to be between 4% to 14% growth year-on-year, despite a challenging supply chain environment [68] - The company expects to maintain a strong order backlog and anticipates record revenue for Q1 2022 [24][68] Other Important Information - The company plans to pay a final dividend of HKD 2.60 per share, with a full-year dividend of HKD 3.90, a 44% increase over 2020 [37] - R&D spending was approximately 10% of equipment revenue, totaling $251 million in 2021, with nearly 2,000 patents generated [36] Q&A Session Summary Question: Can you provide more color about your guidance between your two segments and customer types? - Management indicated that Q1 guidance is lower than Q4 due to seasonality, but still expects record performance for both SEMI and SMT segments [40][41] Question: What are the current applications in the markets for AP products? - AP revenue grew 35% year-on-year, with strong demand driven by high-performance computing and TCB tools [43][45] Question: Is the margin sustainable and how will it be achieved? - Management expressed confidence in sustaining margins through a focus on high-growth, high-margin areas, despite cost pressures [47][51] Question: What is the outlook for bookings and wire bonding? - Management acknowledged a decline in bookings but noted that the overall SEMI industry remains bullish for 2022, with continued demand for mainstream tools like wire bonders [56][60] Question: Can you elaborate on hybrid bonding opportunities? - Hybrid bonding is seen as a high-precision tool with significant potential, and the company is engaging with Tier-1 customers for prototypes [61][64]
ASMPT(ASMVY) - 2021 Q4 - Earnings Call Transcript