Yageo Corporation. August, 2017

Transcription

1 Yageo Corporation August,

2 Disclaimer This announcement is not, and is not intended to be, an offer of securities for sale in the United States. Securities may not be offered or sold in the United States a b s e n t r e g i s t r a t i o n or an e x e m p t i o n f r o m r e g i s t r a t i o n u n d e r the U.S. Securities Act of Any public offering of securities to be made in the United States must be made by means of a prospectus containing detailed information about the issuer of the securities and its management as well as financial statements. There is not, and is currently not intended to be, any public offering of securities by Yageo Corporation in the United States. 2

3 A Global Passive Component Leader Yageo Corporation is a world leading total service provider of passive electronic components, with 27 sales/service offices in 15 countries, 7 manufacturing sites, 6 JIT logistic hubs and 2 R&D centers worldwide. Yageo offers a broad range of electronic components with resistors, capacitors, ferrites and wireless components and modules. In the recent years, Yageo s product technologies focus on ultra small size, high power, high voltage, high reliability, low resistance, and low inductance. Yageo products are widely used in all kinds of electronic applications, including automotive, industrial, IoT, AR/VR, alternative energy, telecommunications, power supplies, computers and peripherals, and consumer electronics. Yageo currently is the world No.1 in chip-resistors and No. 3 in MLCCs. With the reputable 40-year-old brand, Yageo is a truly global company with leading position in Greater China, Europe, and ASEAN. 3

4 A Global Passive Component Leader As a total passive component solution provider, Yageo offers innovative global logistics, electronic data interchange, design-in services, web-based self-helped platforms, and online B2B interfaces with advanced IT solutions and other ease-of-doing-business tools. Yageo has a strong and diversified customer profile, including global leading EMS, ODM, OEM, and distributors. Yageo achieved record high revenue in 2016 and market capitalization exceeds NTD$60 billion in Yageo delivered an average 15% of ROE and 8% of ROA ratio in recent years. 4

5 Broad Product Offering Targeting Key Verticals Automotive Industrial Mobile Alternative Energy Notebook/Tablet Power Lighting Medical Home Appliances Networking Payment & Sales Yageo Passive Components 5

6 Serving Leading Global Customers U.S Europe Asia 6

7 Leading Market Position by Volume Chip Resistors - Ranked No. 1 MLCCs - Ranked No. 3 7

8 2Q17 Sales Revenue Breakdown By Product By Region Others 4% MLCC 45% Europe 17% US 3% Wireless 2% Ferrites 6% Thru-hole Resistor 3% Asia/ Rest 9% Greater China 71% Chip Resistor 40% NT$ 7,934 M * Above 2Q information is reviewed. 8

9 2Q17 Sales Revenue Breakdown By Channel By Segment* (of Direct Sales) Automotive 6% Direct Sales 27% Industrial 23% Telecom 23% EMS 22% Distributors 51% Consumer 11% Computer 37% NT$ 7,934 M * Above 2Q information is reviewed. 9

10 1H17 Sales Revenue Breakdown By Product By Region Others 5% MLCC 44% Europe 18% US 2% Wireless 2% Ferrites 7% Thru-hole Resistor 3% Asia/ Rest 9% Greater China 71% Chip Resistor 39% NT$ 15,281 M * Above 1H information is reviewed. 10

11 1H17 Sales Revenue Breakdown Direct Sales 28% By Channel Industrial 22% By Segment* (of Direct Sales) Automotive 6% Telecom 23% Distributors 50% EMS 22% Consumer 11% Computer 38% NT$ 15,281 M * Above 1H information is reviewed. 11

12 2Q17 Income Statement Yageo Group Consolidate (audited) Amount in NTD Million Q2 / 17 Q1 / 17 Q-Q Q2 / 16 Y-Y Amount % Amount % Change % Amount % Change % Net Sales 7, , , Cost of Sales (5,622) (5,506) (5,675) (0.9) Gross Profit 2, , , Operating Expenses (742) -9.4 (762) (2.6) (764) (2.8) Operating Income 1, , , Non-operating Items (66) -0.8 (123) -1.7 (46.1) (122.2) Income Before Tax 1, , Income Tax (269) -3.4 (132) (414) -5.5 (35.0) Net Income 1, Minority Interest (6) -0.1 (5) (14) -0.2 (60.0) Net Income (attributable to the parent) 1, EPS EBITDA 2,029 1, , * The financial data is based on T-IFRS 12

13 1H17 Income Statement Yageo Group Consolidate (audited) Amount in NTD Million 1H2017 1H2016 Y-Y Amount % Amount % Change % Net Sales 15, , Cost of Sales (11,128) (72.8) (11,185) (75.6) (0.5) Gross Profit 4, , Operating Expenses (1,504) (9.8) (1,518) (10.3) (0.9) Operating Income 2, , Non-operating Items (189) (1.2) (192.7) Income Before Tax 2, , Income Tax (402) (2.6) (546) (3.7) (26.4) Net Income 2, , Other Comprehensive income (loss) (1,921) (12.6) (1,921) (13.0) 0.0 Total Comprehensive income (loss) (167) (1.1) (182.0) Minority Interest (11) (0.1) (26) (0.2) (58.5) Net Income (attributable to the parent) 2, , EPS EBITDA 3, , * The financial data is based on T-IFRS 13

14 Non-operating Items Yageo Group Consolidate (audited) Amount in NTD Million Q217 Q117 Q-Q Change % Q216 Y-Y Change % Foreign Exchange Gain (Loss)-Realized Foreign Exchange Gain (Loss)-Unrealized (332) (468) (29.0) 138 (340.9) Dividend Income (100.0) Net Interest Income (Expense) Investment Income (Loss) Asset Impairment Loss Others (99.5) 9 (88.9) (66) (123) (46.7) 297 (122.1) 14

15 Selected Items from Balance Sheet Yageo Group Consolidate (audited) Amount in NTD Million Q217 Q117 Q-Q Q216 Y-Y Amount Amount Change % Amount Change % Cash and Cash Equivalents 19,813 14, , Account Receivable 9,825 9, , Inventory 4,585 4,646 (1.3) 4,706 (2.6) Other Current Assets (4.2) Long-Term Investment 7,517 5, , Fixed Assets 14,348 13, , Other Assets 3,828 3, , Total Assets 60,733 52, , Short term Loans 16,934 16, , Other Current Liabilities 14,201 11, , Long-Term Loans 4, , Other Liabilities Total Liabilities 35,551 28, , Total Equity 25,182 23, , Total Liabilities & Equity 60,733 52, ,

16 2Q17 Cash Flow Yageo Group Consolidate (audited) Amount in NTD Million Q217 Q117 Q-Q Q216 Y-Y Amount Amount Change % Amount Change % Net Cash Provided by (Used in) Operating Activities 1,163 1,944 (40.2) 1,549 (24.9) Net Cash Provided by (Used in) Investing Activities (1,438) (1,077) 33.5 (387) Net Cash Provided by (Used in) Financing Activities 5,099 (2,051) (348.6) (296) (1,822.3) FX Difference 281 (1,042) (126.9) (413) (168.0) Net Increase (Decrease) in Cash and Cash Equivalents 5,105 (2,227) (329.3) 453 1,026.3 Cash and Cash Equivalents, Beginning of Period 14,709 16,935 (13.1) 12, Cash and Cash Equivalents, End of Period 19,813 14, ,

17 Working Capital Management Yageo Group Consolidate (audited) Amount in NTD Million Q217 Q117 Q-Q Change % Q216 Y-Y Change % Accounts Receivable 9,825 9, , DSO (1.2) Inventory 4,585 4,646 (1.3) 4,706 (2.6) Inventory Conversion Period (4.7) 76 (2.6) Accounts Payable 6,922 6, , Payable Deferral Period Net Working Capatial 7,488 7, ,447 (11.4) Cash Conversion Cycle (6.7) 100 (26.9) 17

18 Thank you