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Samsung ElectronicsSamsung Electronics
SeptemberSeptember, 2001, 2001
Company Overview
Divisional Highlights
ContentsContents
Q2 2001 Results
Company OverviewCompany Overview
Vice Chairman & CEO (Yun, Jong Yong)Vice Chairman & CEO (Yun, Jong Yong)
▶ CFO (Choi, Doh Seok)CTO (Yun, Jong Yong) ◀
Organizational StructureOrganizational Structure
SemiconductorSemiconductorLee, Yoon WooLee, Yoon Woo
▶ ▶ MemoryMemory ▶ ▶ System LSISystem LSI ▶ ▶ TFT LCDTFT LCD
Info. & CommInfo. & CommLee, Ki TaeLee, Ki Tae
▶ ▶ HandsetsHandsets ▶ ▶ NetworkNetwork ▶ ▶ Fiber OpticsFiber Optics
Digital Media Sys.Digital Media Sys.Chin, DaejeChin, Daeje
▶ ▶ MonitorMonitor ▶ ▶ PC / PC PeripheralsPC / PC Peripherals ▶ ▶ DTV / DVDPDTV / DVDP
Living AppliancesLiving AppliancesHan, Yong OeHan, Yong Oe
▶ ▶ Microwave OvenMicrowave Oven ▶ ▶ RefrigeratorRefrigerator ▶ ▶ Air ConditionerAir Conditioner
Global Market Share
No. 126 %26 %• CDMA Handsets
No. 1No. 1
21 %21 %23 %23 %
• DRAM• SRAM
No. 121 %21 %• TFT - LCD
Telecommunication
Semiconductor
No. 1No. 215 %15 %
19 %19 %• Color Monitor• ODD• DVDP
No. 123 %23 %• Microwave Oven
Digital Media
Home Appliances
14 %14 % No. 3
Leading Products (’00)Leading Products (’00)
Q2 2001 ResultsQ2 2001 Results
Sales by Quarter Operating Incomes by Quarter
Revenue and EarningsRevenue and Earnings
Digital MediaTelecommunicationSemiconductor Home Appliances
0
2
4
6
8
10
Q3 '00 Q4 '00 Q1 '01 Q2 '01
Trill i
on W
o n
0.0
0.5
1.0
1.5
2.0
2.5
Q3 '00 Q4 '00 Q1 '01 Q2 '01Tr
ill ion
Wo n
8.8 9.1 8.6 8.02.2
1.5 1.6
0.6
43% 36% 35% 27%
19% 23% 22%29%
89%88%
64%
43%
8%
14%14%
50%
31% 35% 34% 27%
7% 9%17%
2%
14%
8%
9%
6%
Revenue and EarningsRevenue and Earnings
Our Well-Balanced Business Portfolio is Paying-off
0
2
4
6
8
10
Q3 '00 Q4 '00 Q1 '01 Q2 '01
Sales by Quarter Operating Incomes by Quarter
Trill i
on W
o n
0.0
0.5
1.0
1.5
2.0
2.5
Q3 '00 Q4 '00 Q1 '01 Q2 '01Tr
ill ion
Wo n
11H ’01H ’01 20002000 19991999
Net Debt / EquityNet Debt / Equity 10%10% 9%9% 32%32%Debt / CapitalizationDebt / Capitalization 16%16% 20%20% 30%30%Coverage Ratio*Coverage Ratio* 94x94x 56x56x 14x14x
ROE**ROE** 24%24% 41%41% 31%31%
Profitability (Net Income / Sales)Profitability (Net Income / Sales) 0.130.13 0.180.18 0.120.12Asset Turnover (Sales / Asset)Asset Turnover (Sales / Asset) 1.231.23 1.331.33 1.151.15Leverage (Asset / Equity)Leverage (Asset / Equity) 1.561.56 1.751.75 2.242.24
* Coverage Ratio = EBITDA / Net Interest Expense. ** Annualized for 1H ’01
Financial AnalysisFinancial Analysis
Net Income 2.1Depreciation 1.5Sale of Marketable Securities 0.5Others 0.7
Total 4.8
(Unit: Trillion, KRW)
Source of Fund Use of Fund
Capex 3.0Increase in W/C 0.7Debt Redemption 0.4Dividend 0.4Others 0.7
Total 5.2
Cash Balance
Beginning : 1.9 Net decrease : 0.4 End : 1.5
※ Cash Balance = Cash&Cash Equivalent + Short-term Financial Instrument
Cash Flow of 1H 2001Cash Flow of 1H 2001
Revised CAPEX for 2001Revised CAPEX for 2001
0
1
2
3
4
5
6
7
8
Original 1st Revision 2nd Revision
Semiconductor
Telecommunication
Others
7.3
6.1
5.1
(Unit : Trillion, KRW)
CAPEX Plan - CAPEX Plan - EBITDA vs. CAPEXEBITDA vs. CAPEX
EBITDA has been always larger than CAPEX
(Unit : Trillion, KRW)
0
2
4
6
8
10
12
1997 1998 1999 2000
EBITDACAPEX
4.3
2.5
4.3
1.6
7.2
3.4
10.1
5.2
Divisional HighlightsDivisional Highlights
- Semiconductor Division- Semiconductor Division
DRAM Demand and SupplyDRAM Demand and Supply
800
900
1000
1100
1200
1300
1400
1500
1600
1700
Q1 '01 Q2 '01 Q3 '01 Q4 '01 Q1 '02-6%
-4%
-2%
0%
2%
4%
6%
8%
Demand
Supply
Sufficiencyrate
( Unit : Million )
( Source : Company Data )
• Balance is delayed by one quarter : Q3 ’01 Q4 ’01
• Expected demand drivers-XP, Brookdale, New applications (S-T Box, 3G Handsets, Game machines)
Original Forecast
DRAM Demand and SupplyDRAM Demand and Supply
800
900
1000
1100
1200
1300
1400
1500
1600
Q1 '01 Q2 '01 Q3 '01 Q4 '01 Q1 '02-6%
-4%
-2%
0%
2%
4%
6%
8%
Demand
Supply
Sufficiencyrate
( Unit : Million )
( Source : Company Data )
• Balance is delayed by one quarter : Q3 ’01 Q4 ’01
• Expected demand drivers-XP, Brookdale, New applications (S-T Box, 3G Handsets, Game machines)
Revised Forecast
• Demand and Supply- Oversupply of 10% for ’01 but expects shortage from Q3 ’02
Outlook for TFT-LCD MarketOutlook for TFT-LCD Market
( Source : Company Data )25
20
15
10
5
(Un i
t : B
r illio
n, U
n its
)
15%
10%
5%
0%
-5%
-10%
Q1 ’01
Q2 ’01
Q3 ’01
Q4 ’01
Q1 ’02
Q2 ’02
Q3 ’02
Q3 ’02
Q1 ’03
Q2 ’03
Q3 ’03
Q4 ’03
• Flexible product mix- Monitor portion : 17% in 2000 37% in 2001- Niche market (Small size LTPS for HHP, PDA) : 1M in 2001
• Continual cost reduction - Number of components : 120 ~ 150 vs. SEC under 100- Mask steps : 5 ~ 6 vs. SEC 4 ~ 5- Mother glass size : 680 x 880 vs. SEC 730 x 920
Competitiveness Competitiveness
Mother GlassMother Glass 730x920730x920 680x880680x880PanelPanel (Samsung)(Samsung) (Others)(Others)
14”14” 9 panels9 panels 6 panels6 panels
15”15” 6 panels6 panels 6 panels6 panels
17”17” 6 panels6 panels 4 panels4 panels
Divisional HighlightsDivisional Highlights
- Telecommunication Division- Telecommunication Division
Revised Forecast(July ’01)
Previous Forecast(March ’01)
480 M units
Global Handset MarketGlobal Handset Market• Revised global handset shipment in 2001Revised global handset shipment in 2001
- Global economy slowdown, Lack of new applications and contents, Reduction of handset subsidies
Asia23%
Americas25%
Europe38%
China14%
410 M units
Asia25%
Americas24%
Europe36%
China16%
1H 2001
12.5million units
CDMA53%
GSM47%
Achievements in 1HAchievements in 1H
• Outstanding sales in the midst of deteriorating marketOutstanding sales in the midst of deteriorating market
- Sustain ASP by targeting mid to high-end segment
- Timely introduction of new models
- Domestic sales growth of cdma2000 1x handset
2001(F)
28million units
CDMA55%
GSM43%
Business OutlookBusiness Outlook
• Expect continuous Expect continuous ggrowthrowth in 2H ’01 in 2H ’01
- Increasing adoption rate of 1x handset in domestic market
- Explore new business opportunities with new service providers
“Maintain original target sales of 28M units”
TDMATDMA2%2%
• Recent achievements in 1H ’01Recent achievements in 1H ’01- Strong presence in 1x system marketStrong presence in 1x system market- CDMA contracts in China and Puerto Rico CDMA contracts in China and Puerto Rico
• 2H ’01 Outlook2H ’01 Outlook- Domestic: 2.5G System expansion and upgrade to 1x EV-DODomestic: 2.5G System expansion and upgrade to 1x EV-DO
- Overseas: Increasing adoption of CDMA technologyOverseas: Increasing adoption of CDMA technology
* China, Japan, Brazil, India, Israel, etc.* China, Japan, Brazil, India, Israel, etc.
““Current macro environment remains challenging”Current macro environment remains challenging”
Wireless systemsWireless systems
Divisional HighlightsDivisional Highlights
- Digital Media Division- Digital Media Division
Global Market Share Trends
Rank M / S
1 15%
2 12%
6 13%
5 8%
3 12%
Product 1999 2000 2001 (F)
Digital MediaDigital Media
Rank M / S
1 19%
2 15%
3 16%
4 9%
2 15%
Rank M / S
1 19%
2 14%
2 15%
3 9%
1 16%
Monitors
ODD
DVD Players
Color TVs
VCRs
Network Network ConvergenceConvergence
• BBroadcasting STBroadcasting STB• Home GatewayHome Gateway
• PDAPDA• Web PAD Web PAD
NewNewBusinessBusiness
Networking Solutions
Establishing global competition Extend P2P connectivity
• PCPC• ServerServer• PrinterPrinter• MonitorMonitor• ODDODD
ComputingComputing
Home solution based on DTV
A/VA/VConsumerConsumer
• DTVDTV• DVDPDVDP• CDPCDP• VCRVCR• DVCDVC• MP3MP3
Convergence VisionConvergence Vision
THANK YOUTHANK YOU