Q3 2024 Semiconductor Manufacturing International Corp Earnings Call Transcript

Nov 08, 2024 / 12:30AM GMT

Release Date Price: ¥100.3 (-1.56%)

Transcript

Key Points

Positve

Revenue for the third quarter reached a record high of $2.17 billion, marking a 14.2% sequential increase.
Gross margin improved significantly by 6.6 percentage points sequentially to 20.5%.
The company's EBITDA margin was strong at 53.3%, with EBITDA totaling $1,157 million.
The overall utilization rate increased by 5.2 percentage points to 90.4%, effectively reducing per unit depreciation costs.
The company achieved a milestone by reaching $2 billion in revenue in a single quarter for the first time.

Negative

Revenue growth for the fourth quarter is expected to be flat to up only 2% sequentially, indicating a potential slowdown.
Gross margin guidance for the fourth quarter is lower, expected to be in the range of 18% to 20%.
The proportion of overseas revenue decreased by 6 percentage points sequentially due to geopolitical factors.
The overall utilization rate and shipments are expected to decrease in the fourth quarter.
Net cash used in investing activities was high at $1,345 million, indicating significant capital expenditure.

Operator

(spoken in foreign language)

Welcome to Semiconductor Manufacturing International Corporation's third-quarter 2024 webcast conference call. This call will be simultaneously streamed through the Internet and telephone. (Operator Instructions) (spoken in foreign language) Without further ado, I would like to introduce Ms. Guo Guangli, Senior Vice President and Board Secretary to host the meeting.

Guangli Guo

Semiconductor Manufacturing International Corp - Senior Vice President, Company Secretary, Board Secretary

(spoken in foreign language)

Greetings. Welcome to SMIC's third-quarter 2024 webcast conference call. Attending today's call are Dr. Zhao Haijun, Co-Chief Executive Officer; Dr. Wu Junfeng, Senior Vice President and Person-in-Charge of Finance.

(spoken in foreign language)

Let me remind you that today's presentation may contain forward-looking statements that do not guarantee future performance but represent the company's expectations and are subject to inherent risks and uncertainties. Please refer to the forward

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