Via Optronics AG (VIAO) 2022 Q1 法說會逐字稿

Hello, everyone, and welcome to the VIA optronics AG Q1 '22 Earnings Call. My name is Charlie, and I'll be coordinating the call today. (Operator Instructions)

大家好，歡迎參加威盛光電股份公司 22 年第一季度財報電話會議。我叫查理，今天我將協調通話。 （操作員說明）

I'll now hand the call over to your host, Lisa Fortuna with Investor Relations to begin. Lisa, please go ahead.

現在我將把電話轉交給主持人投資者關係部門的麗莎·福爾圖納 (Lisa Fortuna)。麗莎，請繼續。

Thank you, and welcome. Joining me today are Jürgen Eichner, Founder and Chief Executive Officer; and Dr. Markus Peters, Chief Financial Officer. I'd like to remind everyone that statements made during this conference call relating to the company's expected future performance, future business prospects or future events or plans may include forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995.

謝謝你，也歡迎你。今天加入我的還有創始人兼首席執行官 Jürgen Eichner；和首席財務官馬庫斯彼得斯博士。我想提醒大家，本次電話會議期間發表的有關公司預期未來業績、未來業務前景或未來事件或計劃的聲明可能包括 1995 年《私人證券訴訟改革法案》所定義的前瞻性聲明。

Participants are directed to VIA optronics Form 20-F for a description of certain business risks, some of which may be outside of the control of the company that may cause actual results to materially differ from those expressed in our forward-looking statements. We expressly disclaim any duty to provide updates to our forward-looking statements whether as a result of new information, future events or otherwise. Our earnings release for the first quarter of 2022 is posted on the company's website at via-optronics.com.

參與者請參閱威盛光電錶格 20-F 以了解某些業務風險的描述，其中一些風險可能超出公司的控制範圍，從而可能導致實際結果與我們的前瞻性陳述中表達的結果存在重大差異。我們明確表示不承擔因新信息、未來事件或其他原因而對前瞻性陳述進行更新的義務。我們 2022 年第一季度的收益發布發佈在公司網站 via-optronics.com 上。

With that, let me now turn the call over to Jürgen for his opening remarks.

現在，讓我將電話轉給尤爾根，請他致開幕詞。

Thank you, Lisa. Good morning, good afternoon, and thank you for all of you for joining us today. We are excited to briefly discuss our financials for the full year 2021, which can also be found on our Form 20-F, highlight our Q1 '22 results and most importantly, share our outlook for Q2 and the full year 2020.

謝謝你，麗莎。早上好，下午好，感謝大家今天加入我們。我們很高興能夠簡要討論我們2021 年全年的財務狀況（也可以在我們的20-F 表格中找到），重點介紹我們22 年第一季度的業績，最重要的是，分享我們對第二季度和2020 年全年的展望。

To begin, I'd like to take a few minutes to provide an overview of VIA's key achievements over the last year and our go-forward business strategy. In 2021, we had many exciting business developments. We acquired and began the integration of Germaneers, a high-tech company focusing on automotive system integration and user interfaces for well-known, high-end original equipment manufacturers, OEMs.

首先，我想花幾分鐘時間概述威盛去年的主要成就以及我們未來的業務戰略。 2021 年，我們取得了許多令人興奮的業務發展。我們收購併開始整合 Germaneers，這是一家專注於為知名高端原始設備製造商、OEM 提供汽車系統集成和用戶界面的高科技公司。

This is the continuation of a successful partnership, which has allowed us to provide advanced cockpit solutions with our display and touch components, including new developments in functionality overall. We formed a strategic partnership also with SigmaSense to develop new touch sensing solutions, this being part of our offering.

這是成功合作夥伴關係的延續，使我們能夠利用我們的顯示和触摸組件提供先進的駕駛艙解決方案，包括整體功能的新發展。我們還與 SigmaSense 建立了戰略合作夥伴關係，以開發新的觸摸傳感解決方案，這是我們產品的一部分。

The partnership allows us to apply new innovations across industries from the consumer market to the high tech, automotive and industrial markets. Finally, we incorporated a new entity, VIA optronics in the Philippines, for the design and development of camera solutions. As a reminder, VIA Philippines was incorporated to facilitate the integration of a camera design and development team that was previously part of Integrated Micro-Electronics, IMI.

此次合作使我們能夠將新的創新應用於從消費市場到高科技、汽車和工業市場的各個行業。最後，我們在菲律賓成立了一家新實體威盛光電，負責相機解決方案的設計和開發。提醒一下，威盛菲律賓公司的成立是為了促進相機設計和開發團隊的整合，該團隊以前是集成微電子公司 (IMI) 的一部分。

Thus far, in the fiscal 2020, we have also had some notable achievements. In February, we announced that we received the 2021 award for the Best Technology Innovations Value Strategy (sic) [Best Technology Innovation Value Creation Strategy] for Germany from Capital Finance International. This award acknowledges our commitment to developing innovative and cutting-edge solutions for applications that require sunlight readable, robust and optically superior interactive system solutions.

到目前為止，2020財年我們也取得了一些顯著的成就。今年 2 月，我們宣布榮獲 Capital Finance International 頒發的德國 2021 年最佳技術創新價值戰略（原文如此）[最佳技術創新價值創造戰略]獎。該獎項表彰了我們致力於為需要陽光下可讀、強大且光學性能優越的交互式系統解決方案的應用開發創新和尖端解決方案的承諾。

In May, we announced the expansion of our staffing capabilities in Nuremberg headquarters. VIA has added a new production site adjacent to our headquarters and started ramping up mass production in the automotive production line, which has already achieved record shipments of over 31,000 units as of May 31, 2020. This growth, not only demonstrates our flexibility and diligence, but also our innovative capacity as we set our sights on our potential growth ahead.

五月，我們宣布擴大紐倫堡總部的人員配置。威盛在總部附近增設新生產基地，並開始加大汽車生產線的量產，截至2020年5月31日，其出貨量已突破31,000輛，創歷史新高。這一增長，不僅體現了我們的靈活性和勤奮，還有我們的創新能力，因為我們著眼於未來的潛在增長。

Finally, this past month, we announced plans for a new production site in the Philippines. We expect that site will increase operational efficiencies and help increase margins while also mitigating the impacts of ongoing geopolitical pressures, cost increases and restrictions in China.

最後，上個月，我們宣布了在菲律賓建立新生產基地的計劃。我們預計該基地將提高運營效率並有助於提高利潤率，同時減輕中國持續的地緣政治壓力、成本增加和限制的影響。

Also, we have not been able to implement all the desired measures to negate the increased supply chain costs during the first quarter. We have agreements in place with customers starting in July, which will allow us to adjust prices and stabilize margins in the second half of the year. Despite this, we are proud of our -- how our team has performed amidst among ongoing semiconductor shortages, shipping challenges and continued COVID-19 lockdowns in China. Despite these headwinds, demand for our display systems and solutions remains robust. Forecasted demand expressed on a compounded annual growth rate, or CAGR, basis from 2020 to 2025 for automotive, consumer and industrial are 16.4%, 5.9% and 16.2%, respectively.

此外，我們未能實施所有所需措施來抵消第一季度供應鏈成本的增加。我們從七月開始與客戶達成協議，這將使我們能夠在下半年調整價格並穩定利潤。儘管如此，我們仍為我們的團隊在中國持續的半導體短缺、運輸挑戰和持續的 COVID-19 封鎖中的表現感到自豪。儘管存在這些不利因素，對我們的顯示系統和解決方案的需求仍然強勁。 2020年至2025年汽車、消費品和工業的複合年增長率（CAGR）預測需求分別為16.4%、5.9%和16.2%。

More than ever, work from home drove higher usage of PCs, laptops and tablets. In addition, we consistently saw a greater need for connectivity in cars, more autonomous systems and shared mobility over the past year. Our customers are increasingly aware and sensitive to the technical and optical challenges that come with the new user interfaces combined out of displays and touchscreens in terms of light, shock and extreme temperatures.

在家工作比以往任何時候都更加推動了個人電腦、筆記本電腦和平板電腦的使用。此外，在過去的一年裡，我們一直看到對汽車連接、更多自主系統和共享出行的需求更大。我們的客戶越來越意識到並敏感於由顯示器和触摸屏組合而成的新用戶界面在光、衝擊和極端溫度方面帶來的技術和光學挑戰。

Our solutions stand up against the challenges of today across multiple end markets in which superior functionality and durability is a critical differentiating factor. Before I hand the call to Markus, I'd like to provide an update on the supply chain, specifically the global component shortage and its impact on VIA. While we have continued to successfully navigate these challenges compared to the broader market, there have been cost increases affecting our business as a result of the component shortage and shutdowns in China, the Russia, Ukraine conflict and material price increase due to freight rates. We continue to work with our customers on a case-by-case basis to mitigate the impact on our business.

我們的解決方案能夠應對當今多個終端市場的挑戰，其中卓越的功能和耐用性是關鍵的差異化因素。在給 Markus 打電話之前，我想先介紹一下供應鏈的最新情況，特別是全球零部件短缺及其對威盛的影響。雖然與更廣泛的市場相比，我們繼續成功應對這些挑戰，但由於中國的零部件短缺和停產、俄羅斯、烏克蘭衝突以及運費導致的材料價格上漲，成本增加影響了我們的業務。我們將繼續根據具體情況與客戶合作，以​​減輕對我們業務的影響。

In summary, we are pleased by the process that we have made and the results we have achieved in the first quarter of 2022, and this should support continued momentum and growth in the fiscal year 2020 and beyond. However, during this year, we will focus on reinstalling and growing our margins. This is the first priority.

總之，我們對 2022 年第一季度所取得的進展和取得的成果感到高興，這應該會支持 2020 財年及以後的持續勢頭和增長。然而，今年我們將專注於重新安裝和增加利潤。這是第一要務。

With that said, I'd like -- I now like to turn over the call to Markus for a short overview over the full year 2021 financials and the detailed review of our first quarter 2022 performance. Markus?

話雖如此，我現在想將電話轉給馬庫斯，他簡要概述了 2021 年全年財務狀況，並詳細回顧了我們 2022 年第一季度的業績。馬庫斯？

Thanks, Jürgen, and hello to everyone. I will start by reviewing our financial and operating performance for the full year 2021, then I will outline our first quarter 2022 results and our outlook for the second quarter and full year 2022.

謝謝尤爾根，大家好。我將首先回顧我們 2021 年全年的財務和運營業績，然後概述我們 2022 年第一季度的業績以及我們對 2022 年第二季度和全年的展望。

For the full year 2021, we drove very strong top line results as total revenue increased by 18.5% to EUR 180.8 million compared to EUR 152.6 million in 2020. Revenue from the Display Solutions segment of EUR 154.7 million increased by 21.7% compared to 2020 driven by strong demand from EV manufacturers that generally require both larger and a higher number of displays than other automotive manufacturers.

2021 年全年，我們實現了非常強勁的營收業績，總收入增長了18.5%，達到1.808 億歐元，而2020 年為1.526 億歐元。顯示解決方案部門的收入為1.547 億歐元，與2020 年相比增長了21.7%電動汽車製造商的強烈需求，通常比其他汽車製造商需要更大和更多數量的顯示器。

Revenues from the Sensor Technologies segment of EUR 26.1 million increased by 2.4% compared to 2020 mainly due to higher sales to certain automotive and industrial customers. Total gross margin was 11.3% in 2021 compared to 15.3% in 2020, reflecting among other some of the supply chain challenges that Jürgen just mentioned.

傳感器技術部門的收入為 2610 萬歐元，較 2020 年增長 2.4%，主要是由於對某些汽車和工業客戶的銷售額增加。 2021 年的總毛利率為 11.3%，而 2020 年為 15.3%，這反映了 Jürgen 剛才提到的一些供應鏈挑戰。

Moving to the first quarter of this year. Total revenue of EUR 52.7 million in the first quarter 2022 increased 27.6% from EUR 41.3 million in the first quarter of 2021 driven by growth in both the Display Solutions and Sensor Technologies segment.

時間轉到今年第一季度。受顯示解決方案和傳感器技術領域增長的推動，2022 年第一季度的總收入為 5270 萬歐元，較 2021 年第一季度的 4130 萬歐元增長 27.6%。

Display Solutions revenue of EUR 46.8 million in the first quarter increased by 31.5% from EUR 35.6 million in the first quarter of 2021 driven primarily by growth in automotive revenue and industrial sales. Sensor Technologies revenue of EUR 5.9 million in the first quarter increased by 3.5% from EUR 5.7 million in the first quarter of 2021.

顯示解決方案第一季度的收入為 4680 萬歐元，較 2021 年第一季度的 3560 萬歐元增長 31.5%，這主要得益於汽車收入和工業銷售的增長。 Sensor Technologies 第一季度收入為 590 萬歐元，較 2021 年第一季度的 570 萬歐元增長 3.5%。

Revenue from the automotive end market grew 74% in the first quarter 2022 and accounted for 39% of Display Solutions revenue. Revenue related to the industrial and specialized applications end market increased 24% in the first quarter 2022 and accounted also for 39% of Display Solutions revenue compared to 41% of revenue in the first quarter 2021.

2022年第一季度，汽車終端市場收入增長74%，佔顯示解決方案收入的39%。與工業和專業應用終端市場相關的收入在 2022 年第一季度增長了 24%，也佔顯示解決方案收入的 39%，而 2021 年第一季度佔收入的 41%。

Revenue related to the consumer end market accounted for 22% of Display Solutions revenue in the first quarter 2022 compared to 30% of revenue in the first quarter of 2021. Gross profit margin decreased to 7.4% in the first quarter from 11.4% in the first quarter of 2021. As Jürgen mentioned earlier, we are working diligently with our customers to mitigate inflationary impacts to our business.

2022年第一季度，與消費端市場相關的收入佔顯示解決方案收入的22%，而2021年第一季度這一比例為30%。毛利率從第一季度的11.4%下降至第一季度的7.4% 2021 年第四季度。正如 Jürgen 之前提到的，我們正在與客戶努力合作，以減輕通脹對我們業務的影響。

Display Solutions gross profit margin of 5.8% decreased in the first quarter of 2022 from 9.8% at the first quarter of 2021. Due to sales mix and the increase in the price of certain raw materials, logistic costs, overhead and labor costs as well as lower margins on sales product. Sensor Technologies gross profit margin of 20.3% in the first quarter 2022 decreased slightly from 21.1% in the first quarter of 2021 primarily driven by product mix.

顯示解決方案毛利率從 2021 年第一季度的 9.8% 下降到 2022 年第一季度的 5.8%。由於銷售組合和某些原材料價格的上漲，物流成本、管理費用和勞動力成本以及銷售產品的利潤較低。 Sensor Technologies 2022 年第一季度的毛利率為 20.3%，較 2021 年第一季度的 21.1% 略有下降，主要受產品組合的推動。

Research and development expenses increased in the first quarter 2022 to EUR 1.5 million from EUR 1 million in the first quarter of 2021 due to additional -- due to the addition of R&D capabilities, which are to a large extent related to the acquisition of Germaneers.

研發費用從 2021 年第一季度的 100 萬歐元增加到 2022 年第一季度的 150 萬歐元，原因是研發能力的增加，這在很大程度上與收購 Germaneers 有關。

Selling expenses increased to EUR 1.3 million in the first quarter 2022 from EUR 1.2 million in the first quarter of 2021 due to higher sales volumes. General and administrative expenses of EUR 5.4 million increased in the first quarter 2021 from EUR 4.7 million in the first quarter 2021 due to, among other, increased head count to support the company's growth plans and consulting expenses.

由於銷量增加，銷售費用從 2021 年第一季度的 120 萬歐元增加到 2022 年第一季度的 130 萬歐元。 2021 年第一季度的一般及管理費用從 2021 年第一季度的 470 萬歐元增加了 540 萬歐元，原因包括支持公司增長計劃的人員數量增加和諮詢費用。

Operating loss was EUR 3.1 million in the first quarter 2022 compared to operating income of EUR 0.7 million in the first quarter 2021. Net loss was EUR 3.7 million or EUR 0.83 per basic and diluted share in the first quarter 2022 compared to net income of EUR 0.2 million or EUR 0.04 per basic and diluted share in the first quarter of 2021.

2022 年第一季度的運營虧損為310 萬歐元，而2021 年第一季度的運營收入為70 萬歐元。2022 年第一季度的淨虧損為370 萬歐元，即每股基本股和稀釋股0.83 歐元，而淨利潤為100 萬歐元2021 年第一季度每股基本股和稀釋股 20 萬股或 0.04 歐元。

EBITDA loss was EUR 1 million in the first quarter 2022 compared to EBITDA of EUR 2.5 million in the first quarter of 2021. Display Solutions EBITDA loss was EUR 0.3 million in the first quarter 2022 compared to EBITDA of EUR 0.5 million in the first quarter of 2021. Sensor Technologies EBITDA was EUR 0.2 million (sic) [EUR 1.2 million] in the first quarter 2022 compared to EUR 1.1 million in the first quarter of 2021. Other segments EBITDA loss was EUR 1.9 million compared to EUR 0.9 million in the first quarter of 2021. We finished the quarter with cash and cash equivalents of EUR 47.1 million, which supports a strong runway for us to achieve our strategic objectives.

2022 年第一季度EBITDA 損失為100 萬歐元，而2021 年第一季度EBITDA 為250 萬歐元。顯示解決方案2022 年第一季度EBITDA 損失為30 萬歐元，而2021 年第一季度EBITDA 損失為50 萬歐元。 2021 年。傳感器技術2022 年第一季度的EBITDA 為20 萬歐元（原文如此）[120 萬歐元]，而2021 年第一季度為110 萬歐元。其他部門的EBITDA 損失為190 萬歐元，而第一季度為90 萬歐元。 2021 年第四季度。本季度結束時，我們的現金和現金等價物為 4710 萬歐元，這為我們實現戰略目標奠定了堅實的基礎。

Looking ahead to 2022, I would like to share our outlook. For the second quarter, we expect total revenue of EUR 40 million to EUR 45 million. This forecast incorporates the impact of COVID-19-related shutdowns in Shanghai and Suzhou, which are expected to cause delays and logistic issues also during the second quarter.

展望2022年，我想分享一下我們的展望。我們預計第二季度的總收入為 4000 萬歐元至 4500 萬歐元。該預測考慮了上海和蘇州與 COVID-19 相關的停工的影響，預計這也將在第二季度造成延誤和物流問題。

For the full year 2022, we expect revenue growth of approximately 5% to 10% compared to 2021. This forecast is based on intentional portfolio adjustments, the slowdown in the consumer market, component shortages, especially in the camera business and uncertainty in the automotive industry. Our outlook also reflects continued uncertainty related to the ongoing impact of COVID-19.

對於2022 年全年，我們預計收入較2021 年增長約5% 至10%。這一預測是基於有意的投資組合調整、消費市場放緩、零部件短缺（尤其是相機業務）以及汽車行業的不確定性。行業。我們的前景還反映出與 COVID-19 持續影響相關的持續不確定性。

Overall, we remain focused on the many growth prospects ahead of us particularly in the auto and industrial markets, which we will prioritize due to the potentially higher margin and strong growth outlook.

總體而言，我們仍然關注我們面前的許多增長前景，特別是在汽車和工業市場，由於潛在的更高利潤率和強勁的增長前景，我們將優先考慮這些市場。

With that financial overview, I would like now to turn the call back to Jürgen for a few closing comments. Jürgen?

了解了財務概況後，我現在想將電話轉回尤爾根，請其發表一些結束語。於爾根？

Thank you, Markus. So as a summary, in conclusion, we are proud of VIA's recent accomplishments and are excited about the prospects for the remainder of the year and beyond. We are working hard to mitigate the impacts of supply chain pressures, and we are adjusting our sales prices upward where possible to offset inflation and transportation costs, which should help us regain our historical margin profile and achieve our long-term margin targets.

謝謝你，馬庫斯。總而言之，我們對威盛最近取得的成就感到自豪，並對今年剩餘時間及以後的前景感到興奮。我們正在努力減輕供應鏈壓力的影響，並在可能的情況下上調銷售價格，以抵消通貨膨脹和運輸成本，這將有助於我們恢復歷史利潤率並實現長期利潤率目標。

We also believe that we have, at the moment, reached probably the highest level of costs that we see in our supply chain and will probably improve from there, in general. We are capitalizing on opportunities in the automotive industry through strategic partnerships with Corning and SigmaSense to enhance our ColdForm and sensor technologies, and we are in a position to capture additional opportunities in the industrial market.

我們還相信，目前我們可能已經達到了我們在供應鏈中看到的最高成本水平，並且總體上可能會有所改善。我們正在通過與康寧和 SigmaSense 的戰略合作夥伴關係來利用汽車行業的機遇來增強我們的 ColdForm 和傳感器技術，並且我們有能力抓住工業市場的更多機會。

Our backlog remains healthy with new projects continually entering in the pipeline, and we continue to focus on higher value projects, which will support margins. We have a strong balance sheet and a clean financial profile. We believe we are well positioned to drive strong growth and shareholder value over the next several years, and we are looking forward to sharing the journey with all of you. Thank you for your continued support. That concludes our prepared remarks.

隨著新項目的不斷進入，我們的積壓訂單保持健康，並且我們繼續專注於更高價值的項目，這將支撐利潤。我們擁有強大的資產負債表和乾淨的財務狀況。我們相信，我們有能力在未來幾年推動強勁增長和股東價值，我們期待與大家分享這段旅程。感謝您一如既往的支持。我們準備好的發言到此結束。

And I now turn the call over to the operator for questions and answers.

我現在將電話轉給接線員詢問問題和解答。

(Operator Instructions) Our first question comes from Andrew Buscaglia of Berenberg.

（操作員說明）我們的第一個問題來自 Berenberg 的 Andrew Buscaglia。

So I'd like to start out with -- so you're entering 2022 with seemingly some good momentum on your top line. Can you talk about -- so your guidance implies quite a slowdown as the year progresses. It's not surprising given the broader market, but what are the puts and takes of how you get to that 5% to 10%? Are you being conservative? Or is this more concerns around these component shortages and being able to get product to customers as being the main issue?

因此，我想首先——進入 2022 年，您的營收似乎呈現出良好的勢頭。您能否談談——您的指導意味著隨著時間的推移，經濟增速將大幅放緩。考慮到更廣闊的市場，這並不奇怪，但如何達到 5% 到 10% 的看漲期權和看跌期權呢？你保守嗎？還是更擔心這些組件短缺以及能否向客戶提供產品成為主要問題？

Well, maybe, Markus, if you start and I add something?

好吧，也許，馬庫斯，如果你開始而我添加一些東西呢？

Yes. Well, it's a mixture of effects. We saw, on the one hand side, in the camera business, we see an issue with component shortages indeed, they may limit some turnover. Secondly, we expect intention in the portfolio adjustments because with the focus on margin for one or the other customer, maybe he will shop for other choices. But when margin is priority, we cannot entertain all sales orders that we do not really enjoy on the balance sheet. These are the major points probably, I think. And of course, we have the overall uncertainty in the automotive market while we -- with focus on the vehicles, I don't think we are that strongly hit. Jürgen?

是的。嗯，這是多種效果的混合體。一方面，我們看到在相機業務中，我們確實看到了零部件短缺的問題，它們可能會限制一些營業額。其次，我們預計投資組合調整的意圖，因為關註一個或另一個客戶的利潤，也許他會購買其他選擇。但是，當保證金優先時，我們無法接受所有我們在資產負債表上並不真正享受的銷售訂單。我認為這些可能是要點。當然，汽車市場總體上存在不確定性，而我們專注於汽車，我認為我們不會受到那麼嚴重的打擊。於爾根？

Yes. Maybe just one comment from my side. As I indicated before, I think at the moment, looking at today, we have probably reached the highest level of potential cost in the supply chain. It will go better from there, and this was also why we had some other discussions with customers took so long because you don't know at the end of the day you will be -- you will need to settle.

是的。也許只是我這邊的一條評論。正如我之前指出的，我認為目前，從今天來看，我們可能已經達到了供應鏈中潛在成本的最高水平。從那裡開始會變得更好，這也是為什麼我們與客戶進行了一些其他討論花了這麼長時間，因為你不知道最終你會 - 你需要安定下來。

The shortages are not over. We are, as Markus said, impacted in the camera business, especially. But that -- as I said, from today, looking in the future, it looks much better. It's -- we had a few unexpected events really during the Q1 and Q2. But it's -- so far, I think we are okay. So it's a summary of things that we have to consider. But right now, we actually have settled with some of the customers already. We will impose the changes July 1, and then we'll go from there.

短缺還沒有結束。正如馬庫斯所說，我們尤其受到相機業務的影響。但正如我所說，從今天開始，展望未來，情況看起來要好得多。在第一季度和第二季度，我們確實發生了一些意外事件。但到目前為止，我認為我們還不錯。這是我們必須考慮的事情的總結。但現在，我們實際上已經和一些客戶達成了和解。我們將於 7 月 1 日實施這些更改，然後我們將從那裡開始。

And can you provide within automotive an update with your -- one of your largest U.S. EV makers, your customers. And in terms of that, like would that not provide you some strong visibility into the back half of the year that would imply maybe some conservatism on that guide?

您能否向您的——美國最大的電動汽車製造商之一——您的客戶提供最新的汽車信息？就這一點而言，這是否不會為您提供對今年下半年的一些強有力的了解，這是否意味著該指南可能存在一些保守主義？

Yes. So for this one, it's actually -- so this month, we will have all equipment installed. So in July, we will run full capacity. Actually, we ran higher than full capacity because the demand increased. So from July onwards that facility will be working as expected. We had in -- also that was part of the reason why you see the result as it is some delays in that area because the customer couldn't actually get also parts for their cars. So we had some slowdowns here.

是的。因此，對於這一次，實際上，這個月我們將安裝所有設備。所以7月份我們會滿負荷運轉。事實上，由於需求增加，我們的運行速度超過了滿負荷運行。因此，從 7 月份開始，該設施將按預期運行。我們 - 這也是您看到結果的部分原因，因為該地區存在一些延誤，因為客戶實際上無法獲得他們的汽車零件。所以我們在這裡遇到了一些放緩。

We actually have built, but the units have been in our facility waiting for being picked up. But from July onwards, it's all up to that level that we expected. We might have to work on some yield issues with the new equipment because at the end of the day, that needs some tuning over the next weeks. But from now on, that should operate as we planned. And if everything works out as we have agreed with the customer, this should be stable for the next 4 to 5 years.

我們實際上已經建造好了，但這些單元一直在我們的工廠裡等待被取走。但從7月份開始，一切都達到了我們預期的水平。我們可能必須解決新設備的一些產量問題，因為最終需要在接下來的幾週內進行一些調整。但從現在開始，這應該按我們的計劃進行。如果一切按照我們與客戶達成的協議進行，那麼在未來 4 到 5 年內應該會保持穩定。

When we see already today -- we see already today is that from our automotive turnover, 26% in Q1 was with EV makers, not only this one, but the majority of the turnover was with this one company. But in total, with all EV makers, we had 26% turnover of our automotive business, and we won one more assignment last week from an EV maker in China.

當我們今天看到時，我們今天已經看到，從我們的汽車營業額來看，第一季度26% 是來自電動汽車製造商，不僅是這家公司，而且大部分營業額都來自這家公司。但總的來說，在所有電動汽車製造商中，我們的汽車業務營業額佔 26%，上週我們又從中國一家電動汽車製造商那裡贏得了一項任務。

This will be coming out as a separate release. So we'll hear about that soon.

這將作為單獨的版本發布。所以我們很快就會聽到這個消息。

Okay. And if I heard you correctly, you guys are implying the worst -- we're kind of reaching peak in terms of all these costs and shortages and issues you're seeing. Would that imply you guys can hit a breakeven number before we exit 2022 on EBITDA?

好的。如果我沒聽錯的話，你們是在暗示最壞的情況——就你們所看到的所有這些成本、短缺和問題而言，我們已經達到了頂峰。這是否意味著你們可以在 2022 年 EBITDA 退出之前實現盈虧平衡？

Yes. Actually, this is what we are trying to do. However, I cannot promise. I promise, I think, also that we'll be shortly showing you the margin targets that that we have. So we are currently -- the focus is that we have right now is basically getting back to the regular -- to normal margin level. And it looks like -- and that we get -- basically get to our target margins as we planned over time. So that will -- so there were certain measures, cost up for some product to overcome the cost on the other hand. We are bundling.

是的。事實上，這就是我們正在努力做的事情。但是，我不能保證。我想，我也保證我們很快就會向您展示我們的利潤目標。因此，我們目前的重點是，我們現在基本上已經恢復到正常的保證金水平。看起來——我們得到的——隨著時間的推移，基本上達到了我們計劃的目標利潤率。因此，另一方面，我們採取了某些措施，提高某些產品的成本，以克服成本。我們正在捆綁。

So a lot of things we couldn't really do last year because of all the things happening. We are bundling right now the supply chain. We are basically working with our suppliers. So we are driving costs down on the supply side, which seems to be surprisingly also successful. So we’ll have a cost up and the cost down on the supply side.

由於去年發生的所有事情，我們無法真正做很多事情。我們現在正在捆綁供應鏈。我們基本上是與我們的供應商合作。因此，我們正在降低供應方面的成本，這似乎也取得了令人驚訝的成功。因此，我們將在供應方面提高成本並降低成本。

And we will make some rearrangements in the company focusing several areas which are right now basically at every production location in China, here in Germany and in the future in Laguna and to -- and centralize those. So this should also be an additional cost saving exercise. So this year is really the year where we consolidate everything we have done in the last year, cut down costs. And after the consolidation, we will basically follow the plan that we have.

我們將對公司進行一些重新安排，重點關注現在基本上在中國、德國以及未來在拉古納的每個生產基地的幾個領域，並將這些領域集中起來。因此，這也應該是一項額外的成本節約舉措。所以今年確實是我們鞏固去年所做的一切、削減成本的一年。整合之後，我們基本上會按照我們已有的計劃進行。

What I can say here that we will have also in beginning of August, I think I mentioned that before. We will have our new CMO onboard, and I will also communicate the changes that we will do with that a little bit later when he is on board and maybe have him also in the call because that -- this will be a very important part of the organization.

我可以在這裡說的是，我們也將在八月初進行，我想我之前已經提到過。我們將邀請新任首席營銷官加入，稍後當他加入時，我也會傳達我們將對此做出的改變，也許他也會參加電話會議，因為這將是非常重要的一部分該組織。

(Operator Instructions) Our next question comes from Anthony Stoss of Craig-Hallum.

（操作員說明）我們的下一個問題來自 Craig-Hallum 的 Anthony Stoss。

Jürgen, I wanted to focus in still on gross margins. You talked about July price increases. Can you outline what percentage of your revenues will see increases or what percentage of your products will see in the increase in price? And what other steps can you take to improve gross margins? Secondly, you mentioned that you do expect gross margins to improve quite a bit in the second half of this year. Can you give us an expected range? And then I had several follow-ups after that.

Jürgen，我想繼續關注毛利率。您談到了七月份的價格上漲。您能否概述一下您的收入將增加多少百分比，或者您的產品的價格將增加多少百分比？您還可以採取哪些其他措施來提高毛利率？其次，您提到您確實預計今年下半年的毛利率將有相當大的改善。您能給我們一個預期範圍嗎？之後我進行了幾次後續行動。

Yes. This is what I -- so we will actually get another call about this a little bit later. I was hoping that we are ready to do show you this today already. I can tell you that more than half of our revenue and projects will see a price increase. Some of them are drastic price increase and that should alone cover some of the margin loss that you have seen.

是的。這就是我的想法，所以稍後我們實際上會接到另一個關於此問題的電話。我希望我們今天已經準備好向您展示這一點。我可以告訴你，我們一半以上的收入和項目都會漲價。其中一些是價格大幅上漲，僅此一項就可以彌補您所看到的部分利潤損失。

And unfortunately, I cannot yet -- maybe in 1 or 2 -- maybe in July, I can give you more detailed numbers. I was hoping to provide that today already, but the changes are still ongoing and the final settlements with the customers are hopefully ended during the month of July. And on top of that, we have the savings in the supply chain side. But please I like to be conservative and don't set out or give numbers in first, let's say, what I -- in a way that I see it, at the moment, very positive, but so -- but give me a bit more -- give us a bit more time to provide the guidance there?

不幸的是，我還不能——也許在一兩年內——也許在七月，我可以給你更詳細的數字。我本來希望今天就可以提供這一點，但變化仍在進行中，與客戶的最終和解有望在 7 月份結束。最重要的是，我們在供應鏈方面節省了成本。但我喜歡保守一點，首先不要列出或給出數字，比如說，我——以我目前的方式來看，非常積極，但是——但是給我一點更多——給我們更多的時間來提供指導嗎？

Okay. And then on the June quarter revenue guide down quite a bit sequentially. Maybe take us through what divisions are down the most? Is your display division still holding up? And then really kind of the same question for your full 2022 guide of 5% to 10% growth. What kind of growth rate are you assuming from the display side of the business? And are you expecting any part of your business actually be down year-over-year?

好的。然後，六月季度的收入指南環比下降了很多。也許可以帶我們了解一下哪些部門表現最差？您的顯示部門還堅守嗎？對於 2022 年 5% 到 10% 增長的完整指南來說，這確實是同樣的問題。您預計顯示業務的增長率是多少？您是否預計您的業務的任何部分實際上會同比下降？

Yes. So the problem in Q2 was basically -- it was all coming out of the lockdowns that we have seen in China. As you might know, the Shanghai airport was blocked and at the end of the day, every airport in China, the incoming goods have been blocked and the outgoing goods have been blocked. So everything has been delayed and that caused the biggest impact. Markus, please correct me if I'm...

是的。所以第二季度的問題基本上是——這一切都源於我們在中國看到的封鎖。大家可能知道，上海機場被封鎖了，到最後，中國的每個機場，進港的貨物都被封鎖了，出境的貨物也被封鎖了。所以一切都被推遲了，這造成了最大的影響。馬庫斯，請糾正我，如果我...

Absolutely right.

絕對正確。

Yes. And a little bit contributed was some delays that we had here in the production. As I said, the West Coast company, they had also supply chain issues. So -- but that was not major. The major thing was really China.

是的。我們在製作過程中遇到的一些延誤也造成了一些影響。正如我所說，西海岸公司也存在供應鏈問題。所以——但這並不重要。最重要的是中國。

There was one customer in [German] for the Nuremberg facility, who is not taking the volumes he's supposed to take.

紐倫堡工廠有一位[德國]客戶，他沒有接受他應該接受的數量。

Oh, yes, that's another -- that's true. That's another automotive customer where the volumes ramped down. And we are currently figuring out why that is the case because it's not really transparent, to be honest. So we are -- hopefully, we can provide more information there, but that was also part of it. Yes. It's true. I forgot that.

哦，是的，那是另一個——確實如此。這是另一個銷量下降的汽車客戶。我們目前正在弄清楚為什麼會出現這種情況，因為說實話，它並不真正透明。所以我們希望我們可以在那裡提供更多信息，但這也是其中的一部分。是的。這是真的。我忘記了。

Okay. And then just the second part of my question regarding full 2022 growth rates, holding it on the display side of your business, that was always the biggest piece to the story of why you came public was the display side. If overall ramps are going to be up 5% to 10%, what do you think display will be up?

好的。然後，我的問題的第二部分是關於 2022 年全部增長率，將其放在您業務的顯示方面，這始終是您上市的故事中最重要的部分是顯示方面。如果整體坡道將增長 5% 到 10%，您認為顯示屏會增長多少？

I think this is -- this would be mainly related to display. There will be also camera business, but the display touch area is still the one with the biggest growth rate. There will also be -- actually, we expected more camera growth this year, but camera has seen the biggest supply chain problem at the moment. So the -- that display segment, displays touch will be the biggest one for growth in any case.

我認為這主要與顯示有關。也會有攝像頭業務，但顯示觸控領域依然是增速最大的。實際上，我們預計今年相機會有更多增長，但相機目前已經遇到了最大的供應鏈問題。因此，無論如何，顯示觸摸屏領域將是增長最大的領域。

Yes. Okay. And then my last question. You commented about the EV maker in China, the press release forthcoming. Can you expand a little bit more on that, the size of the opportunity, is it going to amount to any kind of revenues for this calendar year and just timing of that?

是的。好的。然後是我的最後一個問題。您對中國電動汽車製造商的評論，即將發布的新聞稿。您能否詳細說明一下這個機會的規模，它是否會相當於本日曆年的任何收入以及具體的時間安排？

It will not be for this calendar year. It will be, I think, starting next year. The size is not as big as the West Coast version, but it's a luxury EV car in China.

今年不會。我想，這將從明年開始。尺寸沒有西海岸版那麼大，但它是中國的豪華電動汽車。

(Operator Instructions) At this time, we currently have no further questions. I'll hand back over to Jürgen Eichner for any closing remarks.

（操作員說明）目前，我們沒有進一步的問題。我將把結束語交給尤爾根·艾希納 (Jürgen Eichner)。

Yes. Well, from my side, what I can say is thank you for joining the call today. For us, we are excited about the future of VIA and truly believe that we are on our way to continue the long-term growth. I hope that we basically overcome all the supply chain changes this year -- challenges this year, at least at the moment, I have a pretty good feeling about that. Hopefully, nothing else comes up, which cannot be foreseen. In any case, thank you for joining and being with us, and have a great day.

是的。好吧，從我的角度來看，我能說的是感謝您今天加入電話會議。對我們來說，我們對威盛的未來感到興奮，並堅信我們正在繼續長期增長。我希望我們今年基本上能夠克服所有供應鏈的變化——今年的挑戰，至少目前，我對此有很好的感覺。希望不會出現其他無法預見的情況。無論如何，感謝您加入並與我們在一起，祝您有美好的一天。

Thank you for joining today's call. You may now disconnect your lines.

感謝您參加今天的電話會議。您現在可以斷開線路。