ASE Technology Holding (ASX) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

July 28, 2022 3:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ken Hsiang

Hello. I am Ken Hsiang, the Head of Investor Relations for ASE Technology Holdings. Welcome to our Second Quarter 2022 Earnings Release. Thank you for attending our conference call today. Please refer to our Safe Harbor notice on Page 2. All participants consent to having their voices and questions broadcast via participation in this event. If participants do not consent, please disconnect at this time.

I would like to remind everyone that the presentation that follows may contain forward-looking statements. These forward-looking statements are subject to a high degree of risk and our actual results may differ materially. For the purposes of this presentation, our dollar figures are generally stated in New Taiwan dollars, unless otherwise indicated. As a Taiwan-based company, our financials are presented in accordance with Taiwan IFRS. Results presented using Taiwan IFRS may differ materially from results using other accounting standards, including those presented by our subsidiary using Chinese GAAP. Intercompany transactions between our ATM and EMS businesses have been eliminated during consolidation.

For today’s call, I am joined by Dr. Tien Wu, our COO; and Joseph Tung, our CFO. During the call, Dr. Wu will first provide a midyear update and overall industry outlook. I will quickly go over our financial results, and Joseph will provide the third quarter outlook. Tien and Joseph will both be available to answer questions during the Q&A session that follows.

Also, as a reminder, we disposed off ASE Inc.’s China sites at the end of 2021. For our financial results presented here, in addition to our legal entity results, we have included information on a pro forma basis, or as if the disposition of ASE Inc.’s China sites had already occurred. We believe that pro forma results give additional meaningful information, which would assist in providing comparability of our financial results.

For the purposes of this presentation, including that of Dr. Wu’s, we will generally discuss our full company and ATM second quarter results sequentially compared with first quarter legal entity results, and year-over-year compared with pro forma second quarter 2021. Dr. Tien Wu will now present our midyear update. Dr. Wu?

Tien Wu

Good afternoon. I would like to give you some highlights. First, I would like to talk about the – our first half ‘22 and second quarter performance. Our second quarter ASE Holdco revenue grew 27% year-over-year in U.S. dollar terms. First half ‘22 revenues grew 28% year-over-year, as Ken already pointed out, on the pro forma basis. Second quarter ‘22 ASE ATM revenues grew 25% year-over-year, while the first half ‘22 revenue grew 25% year-over-year.