Yageo Corporation 國巨公司 2019 年 1 月 1
免責聲明 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 1933. 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
世界級的被動元件領導供應商 Yageo Corporation is a world leading total service provider of passive electronic components, with 38 sales/service offices in 18 countries, 19 manufacturing sites, 6 JIT logistic hubs and 14 R&D centers worldwide. Yageo offers a broad range of electronic components with resistors, capacitors, and wireless components and modules. In the recent years, Yageo s product technologies mainly 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. 3
世界級的被動元件領導供應商 As 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 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. Yageo announced to acquire BrightKing Electronics, a supplier of circuit protection components, on April 27 th, 2018 and Pulse Electronics, a global comprehensive supplier of electronic components on May 22 nd, 2018. 4
世界級的被動元件領導供應商 Yageo achieved another record high revenue (as of Nov. 30 th, NTD$ 72.63 billion) in 2018, much higher than previous record high in 2017 (NTD$ 32.26 billion). As of December 28, 2018, its total market capitalization exceeded NTD$ 136 billion. Yageo delivered 24.59% of ROE in 2017 and achieved 53.1% of Operating Margin with EPS NT$70.29 in the first nine months of 2018. Yageo was added to MSCI Global Standard Index (MSCI Taiwan Index), effective from December 1, 2017. Yageo was added to FTSE/TWSE Taiwan 50 Index, effective from April 18, 2018 and Taiwan Dividend+ Index, effective from December 21, 2018. 5
完整產品線滿足各產業應用所需 Automotive Industrial Mobile Alternative Energy Notebook/Tablet Power Lighting Medical Home Appliances Networking Payment & Sales Yageo Passive Components 6
客戶涵蓋全球領導廠商 多元客戶群 U.S Europe Asia 7
產量位居全球前三大 Chip Resistors - Ranked No. 1 MLCCs - Ranked No. 3 8
3Q2018 合併營收比重 By Product By Region Wireless 0.5% Thru-hole Resistor 1% Protective 2% Others 0.5% MLCC 61% Asia/ Rest 9% Europe 11% US 3% Chip Resistor 35% Greater China 77% NT$ 30,666 M QoQ +59.3% YoY +266.4% * Above 3Q information is reviewed. 9
3Q2018 合併營收比重 By Channel By Segment* Automotive 10% Direct Sales 21% Telecom 25% Distributors 55% Industrial 28% EMS 24% NT$ 30,666 M QoQ +59.3% YoY +266.4% * Above 3Q information is reviewed. * Based on the company s estimation from distributor, direct sales, and EMS customers. Consumer 10% Computer 27% 10
1Q-3Q2018 合併營收比重 By Product By Region Wireless 1% Thru-hole Resistor 1% Others 1% Europe 10% US 2% Protective 1% MLCC 62% Asia/ Rest 9% Chip Resistor 34% Greater China 79% NT$ 60,937 M YoY +169.5% * Above 1Q-3Q information is reviewed. 11
1Q-3Q2018 合併營收比重 By Channel By Segment* Direct Sales 18% Automotive 11% Telecom 25% EMS 19% Industrial 30% Distributors 63% Computer 25% NT$ 60,937 M YoY +169.5% * Above 1Q-3Q information is reviewed. * Based on the company s estimation from distributor, direct sales, and EMS customers. Consumer 9% 12
3Q2018 合併損益表 Yageo Group Consolidate (reviewed) Amount in NTD Million Q3 / 18 Q2 / 18 Q-Q Q3 / 17 Amount % Amount % Change % Amount % Net Sales 30,666 100.0 19,247 100.0 59.3 8,370 100.0 Cost of Sales (9,414) -30.7 (6,909) -35.9 36.3 (5,832) -69.7 Gross Profit 21,252 69.3 12,338 64.1 5.2 2,538 30.3 Operating Expenses (4,300) -14.0 (1,605) -8.3 (5.7) (706) -8.4 Operating Income 16,953 55.3 10,734 55.8 (0.5) 1,832 21.9 Non-operating Items 381 1.2 2,469 12.8 (11.6) 200 2.4 Income Before Tax 17,333 56.5 13,203 68.6 (12.1) 2,032 24.3 Income Tax (3,033) -9.9 (2,375) -12.3 2.4 (255) -3.0 Net Income 14,300 46.6 10,828 56.3 (9.6) 1,777 21.2 Minority Interest 203 0.7 (28) -0.1 0.8 (7) -0.1 Net Income (attributable to the parent) 14,503 47.3 10,800 56.1 (8.8) 1,770 21.1 EPS 34.35 25.70 33.7 4.23 EBITDA 19,241 62.7 13,118 68.2 (5.4) 2,308 27.6 * Q-Q/Y-Y Change of Net Sales, Cost of Sales, EPS is in %, the rest of Changes is in % point. * The financial data is based on T-IFRS 13
1Q-3Q2018 合併損益表 Yageo Group Consolidate (reviewed) Amount in NTD Million 1Q-3Q2018 1Q-3Q2017 Y-Y Amount % Amount % Change % Net Sales 60,937 100.0 22,607 100.0 169.5 Cost of Sales (21,680) (35.6) (16,328) (72.2) 32.8 Gross Profit 39,257 64.4 6,280 27.8 36.6 Operating Expenses (6,901) (11.3) (2,068) (9.1) (2.2) Operating Income 32,356 53.1 4,211 18.6 34.5 Non-operating Items 2,357 3.9 87 0.4 3.5 Income Before Tax 34,713 57.0 4,299 19.0 38.0 Income Tax (5,307) (8.7) (641) (2.8) (5.9) Net Income 29,407 48.3 3,657 16.2 32.1 Minority Interest 155 0.3 (18) (0.1) 0.3 Net Income (attributable to the parent) 29,561 48.5 3,640 16.1 32.4 EPS 70.29 6.74 942.9 EBITDA 37,563 61.6 5,550 24.6 37.1 * Q-Q/Y-Y Change of Net Sales, Cost of Sales, EPS is in %, the rest of Changes is in % point. * The financial data is based on T-IFRS 14
3Q2018 營業外收入及支出 Yageo Group Consolidate (reviewed) Amount in NTD Million Q318 Q218 Q-Q Change % Q317 Y-Y Change % Foreign Exchange Gain (Loss)-Realized 44 68 (35.3) 52 (15.2) Foreign Exchange Gain (Loss)-Unrealized 457 1,069 (57.2) (87) (625.8) Market price changes--unrealized (556) 787 (170.6) 7 (8,036.5) Net Interest Income (Expense) 143 112 27.6 44 225.5 Investment Income on Equity-Method 192 361 (46.9) 108 77.7 Other Investment Income 65 65 0.2 39 68.9 Gain/(Loss) on Sale of Investments (1) 0 (457.3) 30 (104.2) Others 37 7 390.1 8 368.1 381 2,469 (84.6) 200 90.1 * The financial data is based on T-IFRS 15
3Q2018 合併資產負債表 Yageo Group Consolidate (reviewed) Amount in NTD Million Q318 Q218 Q-Q Q317 Y-Y Amount Amount Change % Amount Change % Cash and Financial Assets 36,471 35,059 4.0 18,083 101.7 Notes & Accounts Receivable 30,748 20,280 51.6 10,932 181.3 Inventory 7,643 7,886 (3.1) 4,304 77.6 Other Current Assets 2,743 2,466 11.2 2,864 (4.2) Long-Term Investment 17,637 20,415 (13.6) 13,920 26.7 Net Properties 19,408 20,015 (3.0) 14,535 33.5 Other Assets 6,620 6,016 10.0 3,352 97.5 Total Assets 121,270 112,137 8.1 67,989 78.4 Short-Term Loans 26,993 25,342 6.5 19,954 35.3 Accounts Payable 9,402 9,284 1.3 7,031 34 Other Current Liabilities 16,450 16,923 (2.8) 5,206 216.0 Long-Term Loans 11,800 12,300 (4.1) 7,700 53.2 Other Liabilities 645 796 (19.0) 348 85.0 Total Liabilities 65,290 64,645 1.0 40,240 62.3 Total Equity 55,980 47,492 17.9 27,750 101.7 Total Liabilities & Equity 121,270 112,137 8.1 67,989 78.4 * The financial data is based on T-IFRS 16
3Q2018 合併現金流量表 Yageo Group Consolidate (reviewed) Amount in NTD Million Q318 Q218 Q-Q Q317 Y-Y Amount Amount Change % Amount Change % Net Cash Provided by (Used in) Operating Activities 10,301 7,517 37.0 2,041 404.8 Net Cash Provided by (Used in) Investing Activities (1,620) (4,803) (66.3) (5,405) (70.0) Net Cash Provided by (Used in) Financing Activities (6,837) 12,251 (155.8) 2,603 (362.7) FX Difference (432) 156 (376.1) 60 (817.2) Net Increase (Decrease) in Cash and Cash Equivalents 1,412 15,122 (90.7) (701) (301.4) Cash and Cash Equivalents, Beginning of Period 35,059 19,937 75.8 18,784 86.6 Cash and Cash Equivalents, End of Period 36,471 35,059 4.0 18,083 101.7 * The financial data is based on T-IFRS 17
3Q2018 營運資金管理 Yageo Group Consolidate (reviewed) Amount in NTD Million Q318 Q218 Q-Q Change % Q317 Y-Y Change % Accounts Receivable 30,748 20,280 51.6 18,083 70.0 DSO 95 90 6.0 122 (21.8) Inventory 7,643 7,886 (3.1) 4,304 77.6 DOH-Total Company 71 97 (27.3) 65 7.7 DOH-R+C Finished Goods (Qty) 63 74 (15.0) 44 43.0 Accounts Payable 9,402 9,284 1.3 7,031 33.7 Payable Days 118 128 (7.6) 111 6.2 Net Working Capital 28,989 18,882 53.5 15,355 88.8 * The financial data is based on T-IFRS 18
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