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ACER — Interim / Quarterly Report 2013
Nov 25, 2013
10414_rns_2013-11-25_456645b9-a86c-4b69-9fbb-735a4378c497.pdf
Interim / Quarterly Report
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Acer 3Q13 Results Summary
Nov 5 2013
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ACER CONFIDENTIAL
Legal Disclaimer
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The information is provided for informational purposes only, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security issued by Acer or other parties.
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Acer’s statements that are not historical facts are forward-looking statements that indicate actions or results of actions that may occur in the future, based on current available information and underlying assumptions.
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Acer does not warranty their accuracy, reliability and completeness. There are a number of factors such as economic conditions, firms abilities, industry environment that could cause actual results and developments to differ materially from those expressed or implied by forward looking statements. Investors should not place undue reliance on them.
ACER CONFIDENTIAL
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Consolidated Income Statement (QoQ Comparison) (IFRS-comparison base)
| (NT$ mn) | 3Q13 | 2Q13 | QoQ Change |
||
|---|---|---|---|---|---|
| Revenue | 92,146 | **100.0% ** | 89,378 | 100.0% | 3.1% |
| Gross Profit(IFRS) | 6,273 | **6.8% ** | 7,478 | 8.4% | -16.1% |
| Gross P rofit(ROC GAAP) | 8,111 | 8.8% | 8,630 | 9.7% | -6.0% |
| OperatingE xpenses | 8,889 | 9.6% | 8,132 | 9.1% | 9.3% |
| Operating Income | (2,570) | **-2.8% ** | (613) | -0.7% | N.A. |
| Non-OperatingIncome | (10,056) | -10.9% | 80 | 0.1% | N.A. |
| PBT | (12,625) | **-13.7% ** | (533) | -0.6% | N.A. |
| PAT | (13,120) | **-14.2% ** | (343) | -0.4% | N.A. |
| EPS(NT$) | (4.82) | (0.13) | N.A. |
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2 ACER CONFIDENTIAL
Consolidated Income Statement (YoY Comparison) (IFRS-comparison base)
| (NT$ mn) | 3Q13 | 3Q12 | YoY Change |
||
|---|---|---|---|---|---|
| Revenue | 92,146 | **100.0% ** | 104,450 | 100.0% | -11.8% |
| Gross Profit(IFRS) | 6,273 | **6.8% ** | 8,628 | 8.3% | -27.3% |
| Gross P rofit(ROC GAAP) | 8,111 | 8.8% | 10,751 | 10.3% | -24.6% |
| OperatingE xpenses | 8,889 | 9.6% | 8,322 | 8.0% | 6.8% |
| Operating Income | (2,570) | **-2.8% ** | 343 | 0.3% | N.A. |
| Non-OperatingIncome | (10,056) | -10.9% | (109) | -0.1% | N.A. |
| PBT | (12,625) | **-13.7% ** | 234 | 0.2% | N.A. |
| PAT | (13,120) | **-14.2% ** | 124 | 0.1% | N.A. |
| EPS(NT$) | (4.82) | 0.05 | N.A. |
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3 ACER CONFIDENTIAL
Consolidated Revenue and GM Trend
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180,000 12.0%
(NT$ mn)
160,000
10.0%
140,000
120,000 8.0%
100,000
6.0%
80,000
60,000 4.0%
40,000
2.0%
20,000
0 0.0%
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
Revenue (LHS) 119,086119,083167,617168,197162,130150,262167,552149,114127,799102,091117,891127,562113,039110,545104,408101,519 91,973 89,378 92,146
Revenue Growth YoY -7% -5% 5% 25% 36% 26% 0% -11% -21% -32% -30% -14% -12% 8% -11% -20% -19% -19% -12%
Gross Margin (RHS) 10.0% 10.6% 10.0% 10.2% 9.7% 10.0% 10.0% 11.4% 10.3% 3.1% 9.0% 9.1% 9.4% 10.2% 10.3% 10.5% 8.5% 8.4% 6.8%
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Note: 2009-2012 ROC GAAP; 2013 onward IFRS
4 ACER CONFIDENTIAL
Consolidated Operating Income
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6,000 6.0%
(NT$ mn)
4,000 4.0%
2,000 2.0%
0 0.0%
-2,000 -2.0%
-4,000 -4.0%
-6,000 -6.0%
-8,000 -8.0%
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13
Op. Income (LHS) 2,571 3,043 4,754 4,972 4,385 4,138 5,291 4,389 1,929 -7,087 -1,320 82 138 433 345 109 29 -613 -2,570
Op. Margin (RHS) 2.2% 2.6% 2.8% 3.0% 2.7% 2.8% 3.2% 2.9% 1.5% -6.9% -1.1% 0.1% 0.1% 0.4% 0.3% 0.1% 0.0% -0.7% -2.8%
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Note: 2009-2012 ROC GAAP; 2013 onward IFRS
5 ACER CONFIDENTIAL
Consolidated Balance Sheet (QoQ Comparison) (IFRS-comparison base)
| (NT$ mn) | 3Q13 | 2Q13 | ||
|---|---|---|---|---|
| Current Assets | ||||
| Cash and cash equivalents | 33,949 | 17.5% | 52,046 | 22.3% |
| Notes & Accounts receivable | 64,802 | 33.4% | 66,505 | 28.5% |
| Financial Assets-Current | 494 | 0.3% | 1,195 | 0.5% |
| Inventories | 41,999 | 21.7% | 50,111 | 21.5% |
| Other current assets | 7,168 | 3.7% | 6,751 | 2.9% |
| Total Current Assets | 148,412 | 76.6% | 176,608 | 75.8% |
| Long-term Investment | 3,257 | 1.7% | 3,256 | 1.4% |
| P roperty, plant and equipment,net | 6,403 | 3.3% | 6,478 | 2.8% |
| Intangible asset | 28,759 | 14.8% | 39,465 | 16.9% |
| Others | 7,039 | 3.6% | 7,309 | 3.1% |
| Total Assets | 193,870 | 100.0% | 233,116 | 100.0% |
| S hort-term loan | 65 | 0.0% | 5,089 | 2.2% |
| Notes & Accountspayable | 52,456 | 27.1% | 69,631 | 29.9% |
| Other current liabilities | 55,436 | 28.6% | 57,196 | 24.5% |
| Total Current Liabilities | 107,957 | 55.7% | 131,916 | 56.6% |
| Total non-current liabilities | 23,043 | 11.9% | 24,468 | 10.5% |
| Total Liabilities | 131,000 | 67.6% | 156,384 | 67.1% |
| Total S hareholders' Equity | 62,870 | 32.4% | 76,732 | 32.9% |
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6 ACER CONFIDENTIAL
Consolidated Balance Sheet (YoY Comparison) (IFRS-comparison base)
| (NT$ mn) | 3Q13 | 3Q12 | ||
|---|---|---|---|---|
| Current Assets | ||||
| Cash and cash equivalents | 33,949 | 17.5% | 33,554 | 14.4% |
| Notes & Accounts receivable | 64,802 | 33.4% | 81,906 | 35.1% |
| Financial Assets-Current | 494 | 0.3% | 180 | 0.1% |
| Inventories | 41,999 | 21.7% | 48,047 | 20.6% |
| Other current assets | 7,168 | 3.7% | 6,455 | 2.8% |
| Total Current Assets | 148,412 | 76.6% | 170,142 | 73.0% |
| Long-term Investment | 3,257 | 1.7% | 3,971 | 1.7% |
| P roperty, plant and equipment,net | 6,403 | 3.3% | 6,494 | 2.8% |
| Intangible asset | 28,759 | 14.8% | 43,169 | 18.5% |
| Others | 7,039 | 3.6% | 9,268 | 4.0% |
| Total Assets | 193,870 | 100.0% | 233,044 | 100.0% |
| S hort-term loan | 65 | 0.0% | 4,987 | 2.1% |
| Notes & Accountspayable | 52,456 | 27.1% | 68,697 | 29.5% |
| Other current liabilities | 55,436 | 28.6% | 62,739 | 26.9% |
| Total Current Liabilities | 107,957 | 55.7% | 136,423 | 58.5% |
| Total non-current liabilities | 23,043 | 11.9% | 19,194 | 8.2% |
| Total Liabilities | 131,000 | 67.6% | 155,616 | 66.8% |
| Total S hareholders' Equity | 62,870 | 32.4% | 77,428 | 33.2% |
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7 ACER CONFIDENTIAL
IT Product Revenue Breakdown by Geography
Q3, 2013 US$2,967M (NT$88,842M)
Q3, 2012 US$3,389M (NT$101,133M)
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17%
19%
25%
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16%
39%
19%
22%
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43%
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EMEA Pan America Asia Pacific G. China EMEA Pan America Asia Pacific G. China
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8 ACER CONFIDENTIAL
IT Product Revenue Breakdown
Q3, 2013 US$2,967M (NT$88,842M)
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Q3, 2012
US$3,389M
(NT$101,133M)
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7%
6%
10%
16%
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2% [5%]
9%
15%
61%
69%
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Notebook Desktop Display Tablet Others Notebook Desktop Display Tablet Others
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9 ACER CONFIDENTIAL
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Thank you
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