Macronix Announces Third Quarter 2021 Results

Hsinchu, Taiwan, R.O.C. - Macronix International Co., Ltd. (TSEC: 2337) today announced the reviewed financial results for the third quarter ended Sep. 30, 2021. All numbers were prepared in compliance with the TIFRS on a consolidated basis.

Summary of the Third Quarter 2021(below, "this quarter"):
· Net sales was NT$14,974 million (US$537.6 million).
· Gross profit was NT$6,421 million (US$230.5 million) with 42.9% gross margin.
· Operating income was NT$3,497 million (US$125.6 million) with 23.4% operating margin.
· Income before tax was NT$6,122 million (US$219.8 million); net income was NT$5,430 million (US$195.0 million).
· EPS was NT$2.94; book value per share was NT$23.21.

This Quarter Financial Highlights :
Net Sales
The Company announced this quarter net sales of NT$14,974 million (US$537.6 million), an increase of 31% sequentially and an increase of 37% year-over-year.

Gross Profit and Gross Margin
Gross profit and Gross margin for this quarter was NT$6,421 million (US$230.5 million) and 42.9%, respectively. Gross profit was increased 44% sequentially and increased 63% year-over-year.

Operating Expenses and Operating Income
Operating expenses for this quarter were NT$2,924 million (US$105.0 million), an increase of 35% sequentially and an increase of 42% year-over-year. Operating income for this quarter was NT$3,497 million (US$125.6 million), an increase of 52% sequentially and an increase 87% year-over-year.

Net Income and EPS
For this quarter, income before taxes was NT$6,122 million (US$219.8 million), an increase of 182% sequentially and an increase of 229% year-over-year.
For this quarter, the income tax expense was NT$693 million (US$24.9 million), the net income after tax was NT$5,430 million (US$195.0 million).
EPS was NT$2.94 (US$0.11).
For this quarter, the book value was NT$23.21 per share.
Current assets and cash flow
As of Sep. 30, 2021, the debt-to-asset ratio was 41.6% which was higher than 41.2% on Jun. 30, 2021.

As of Sep. 30, 2021, the Company had NT$15,152 million (US$544.1 million) in cash and cash equivalents.

As of Sep. 30, 2021, net inventory was NT$13,313 million (US$478.0 million), compared to NT$14,009 million on Jun. 30, 2021, a decrease of NT$696 million.

As of Sep. 30, 2021, the total liabilities was NT$30,662 million (US$1,101.0 million), compared to NT$27,571 million on Jun. 30, 2021, an increase of NT$3,091 million；Shareholders' equity was NT$43,032 million (US$1,545.1 million).

Depreciation and amortization expenses were NT$1,086 million (US$39.0 million) for this quarter. Net cash flow from operating activities was NT$4,217 million (US$151.4 million) for this quarter. Capital expenditure for this quarter was NT$1,198 million (US$43.0 million) mainly for the procurement of facility and production equipment.

This Quarter Business Highlights
NAND Flash, NOR Flash and ROM represent 15%, 52% and 28% of the Net Sales Respectively

NAND Flash products accounted for 15% of net sales for this quarter, a sequential increase of 25% and an increase of 122% year-over-year.

NOR Flash products accounted for 52% of net sales for this quarter, a sequential increase of 34% and an increase of 84% year-over-year.

ROM revenue accounted for 28% of net sales for this quarter, a sequential increase of 36% and a decrease of 17% year-over-year.

FBG products accounted for 5% of net sales for this quarter, a sequential decrease of 1% and an increase of 11% year-over-year.
Quarterly Consolidated Statements of Income

* Excluding all effects of disposal of 6" fab
ppt: percentage points

Consolidated Condensed Balance Sheet

Consolidated Condensed Cash flow

For details, please refer to the reviewed financial reports of 3Q21.
Safe Harbor Statement
The statement contains certain forward-looking statements with respect to the results of operation, financial condition and current expectation. The forward-looking statements are subject to known and unknown uncertainties and risks that could cause actual results to differ materially from those expressed or implied by such statements.
Such risks and uncertainties include but are not limited to the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand for semiconductor products, industry overcapacity, availability of manufacturing capacity, financial stability in end markets, and other risks.
The forward-looking statements in this release reflect the current belief of Macronix as of the date of this release and Macronix undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date
About Macronix International Co., Ltd.
Macronix, a leading integrated device manufacturer in the Non-Volatile Memory (NVM) market, provides a full range of NOR Flash, NAND Flash, and ROM products. With its world-class R&D and manufacturing capability, Macronix continues to deliver high-quality, innovative and performance driven products to its customers in the consumer, communication, computing, automotive, networking and other segment markets.

For more information, please visit the Macronix's website: www.macronix.com
Contacts:
Jacky Chen
Macronix International Co., Ltd.
Finance Center / Investor Relations
+03 578 6688 ext. 76632
[e-mail]