AP Systems Investor Relations 2020 Contents Company - - PowerPoint PPT Presentation

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Oct 24, 2022 332 likes •518 views

AP Systems Investor Relations 2020 Contents Company Introduction Global Market Outlook Financials Products Company Introduction Overview Corporate Structure Growth History Global Network and

SLIDE 1

AP Systems Investor Relations 2020

SLIDE 2

Company Introduction
Global Market Outlook
Financials
Products

SLIDE 3

Overview
Corporate Structure
Growth History
Global Network and Facilities
Major Customers

Company Introduction

SLIDE 4

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Company Overview

AP Systems supplies more than 90% of OLED equipment worldwide

Established in 1994 Paid in Capital KRW 7.6 billion Founder Kiro Jung (CEO at APS Holdings) CEO Youngjoo Kim

No. of Employees

562 Locations Headquarters: South Korea (Dongtan) Fab: South Korea (Dongtan, Balan, Cheonan) Overseas: China (Shanghai), Vietnam (Hanoi) Company Type Listed in KOSDAQ (KQ 265520)

[Profile]

as of Feb 03, 2020

[Organization]

CEO

Overseas Office (China/Vietnam)

Mgmt./Admin. Division R&D Center Business Unit Display Division SEMI. Division Support Unit

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Corporate Structure

AP Systems is an affiliate of APS Group which aims to be the best total solution provider

ESC, Coating, Cleaning Component Processing Display & Semiconductor Equipment Control S/W Display Inspection Equipment Semiconductor Wafer Inspection System

Display & Semiconductor Manufacturing Equipment

21% (25%*)

26% 60% 43% 59% AP Systems CHINA AP Systems VINA 100% 100%

* After conversion of all preferred stocks

SLIDE 6

6/17

Growth History

AP Systems creates values through technologies

`94 ~ `99 `00 `01 `02 `03 `04 `05 `06 `07 `08 `09 `10 `11 `12 `13 `14 `15 `16 `17 `18 19 ~ `24 Display(OLED) Equip. Biz Display(LCD) Equip. Biz

Equip. Control Software Biz
Semi. Equip. Biz

Expanded Business Expanded Business

Software biz Launched to

verseas market

Expand New-Biz applications

2010 Acquired ZenithWorld 2011 Spin off S/W Biz to KORNIC 2013 Established APS China 2014 Acquired DE&T 2015 Acquired Nextin 2016 Established APS Vietnam

Expansion of APS Group

Quantum Jump

Diversified R&D for products

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Total Clean Room : 30,000m2 AP Systems

FAB 1 (Dongtan) FAB 2 (Dongtan2) FAB 3 (Baran) FAB 4 (Cheonan) Clean Room: 5,200m2 Clean Room: 4,800m2 Clean Room: 2,800m2 Clean Room: 17,200m2

Est. 2013

> Office > CS Centers

Est. 2016

> Office > CS Centers

APS China APS Vietnam

CS Center Headquarters

Global Network and Facilities

Completed CAPEX which will generate sales of $2B

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8/17

Major Customers

Accelerating diversification of customers

Display Semiconductor

SLIDE 9

OLED Market (1) : Application
OLED Market (2) : Flexible Capacity

Global Market Outlook

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OLED Market(1) : Application

OLED Market is surpassing LCD market with applications expanding

1,548 1,609 1,768 1,835 1,895 1,941 1,977 2,010

17% 24% 29% 34% 38% 41% 43% 44%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 1,400 1,500 1,600 1,700 1,800 1,900 2,000 2,100 2015 2016 2017 2018 2019F 2020F 2021F 2022F

Smartphone Panels % AMOLED Panels

Source: IHS (2017)

Diversifying OLED

Applications

Smart- phone VR TV Screen Auto- motive Portable Device Display Watch (Million Unit)

OLED Penetration into Smartphone Panel Market

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OLED Market(2) : Flexible Capacity

Designing freedom from Ultra Thin Thickness only Flexible OLED can implement

Curved Edge Foldable Rollable

Stretchabl e

1 2 5 11 19 26 35 39 5 7 7 8 8 9 10 13

15% 19% 40% 60% 70% 75% 77% 75%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 5 10 15 20 25 30 35 40 45

2015 2016 2017 2018 2019F 2020F 2021F 2022F Flexible Rigid % Flexible

(mm2)

Source: IHS (2017)

Flexible Capacity as Share of OLED Capacity

(Unit: KRW bn)

OLED Equipment Market Outlook

8,393 7,940 8,298 8,808 5,000 5,500 6,000 6,500 7,000 7,500 8,000 8,500 9,000

2018 2019F 2020F 2021F Source: IHS (2018)

SLIDE 12

1Q20 Business Results
Consolidated Financial Statements

Financials

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1Q 2020 Business Results

90% 9% 1%

Revenue Breakdown by Div. Display

87 144 66 163 121

4% 7% 5% 7% 7% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 1Q19 2Q19 3Q19 4Q19 1Q20 20 40 60 80 100 120 140 160 180 Sales OPM [ Unit : KRW bn/ % ]

Quarterly Revenue Semiconductor

293 555 962 714 462

2015 2016 2017 2018 2019 [ Unit : KRW bn ]

Annual Revenue

[ March 2020 ]

Others

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Consolidated Financial Statements

[ Unit : KRW bn ]

1Q20 2019 2018 2017 2016 Current Assets 288 252 284 324 355 Non-current Assets 166 168 136 143 211 Total Assets 455 421 420 468 566 Current Liabilities 316 286 291 342 295 Non-current Liabilities 17 21 23 36 64 Total Liabilities 333 307 314 378 359 Current Ratio (%) 91% 88% 97% 95% 120% Debt Ratio (%) 274% 269% 296% 420% 173% Total Capital 122 114 106 90 207

[ Unit : KRW bn ]

1Q20 2019 2018 2017 2016 Revenue 121 462 714 962 555 Gross Profits 21 72 101 62 76 General Expenses 12 44 52 36 44 Operating Profits 8 28 45 26 32 Profits before Tax 11 12 27 26 35 Net Profits 8 9 25 19 27

Balance Sheet Summary Income Statement Summary

SLIDE 15

Product Line-up for Display(OLED)
Product Line-up for Semiconductor

Products

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Product Line-up for Display(OLED)

Excimer Laser Annealing Module Laser Cutting Module Laminating Module Bending Module Dispensing Encapsulation Laser Lift-Off Film Laser Cutting

Cleaning PI Coating & Curing Deposition

Photolitho

Etching Baking Inspection Cleaning

TFT Backplane Evaporation

Front-end

Encapsulation Module Inspection

Back-end

Organic Evap.

Crystalli- zation

Inspection

Module Encap.

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Product Line-up for Semiconductor

Rapid Thermal Process Dry Strip Descum Sputter Temporary Bonding & De-Bonding

Cleaning Photolitho

Deposition

Etching Dicing Inspection Final Test Assembly

Front-end Back-end Ashing 3D Packaging