Altek — Interim / Quarterly Report 2013

Feb 27, 2014

2013 Q4 Investor Conference Feb. 27, 2014

1

13Q4 IS Highlights

• Net Sales: 37% decrease from last quarter

• Weak seasonal demand.

• Gross Profit %: 5.7%, slightly increase 0.1% on a QoQ basis

• Product mix changed.

• OPEX %: 7.4%, up 2.7% compared to Q3

• Due to smaller revenue base. Mainly for RD expense.

• Non‐operating Loss NT$ 340 millions

• Mainly for Kodak royalty payment

• ，

• EPS: 13Q4 ‐NT$0.96 Full Year ‐NT$0.88

Note: 13Q4 figures are unaudited.

2

Consolidated Income Statements

Consolidated	Income Statements	Income Statements	Income Statements	Income Statements	Income Statements
	Unit: NT$ millions (Except EPS: NT$), %
Quarter	13Q4		13Q3		QoQ
Item	Amount	%	Amount	%	%
Net Sales	3,964	100.0	6,334	100.0	(37.4)
Cost of Goods Sold	(3,736)	(94.2)	(5,979)	(94.4)
Gross Profit	228	5.7	355	5.6	(35.9)
Operating Expenses	(294)	(7.4)	(297)	(4.7)
Operating Profit	(66)	(1.7)	58	0.9
Non-Operating Gain	(340)	(8.6)	9	0.1
Profit before Income Tax	(406)	(10.2)	67	1.1
Income Tax Expense	43	1.1	(5)	(0.1)
Net Profit	(363)	(9.1)	62	1.0
Basic EPS (after tax)	(0.96)		0.16

Note: 13Q4 figures are unaudited.

3

Consolidated Income Statements(Cont.)

Unit: NT$ millions (Except EPS: NT$), %

Year	2013	2013	2012	2012	YoY
Item	Amount	%	Amount	%	%
Net Sales	19,166	100.0	24,575	100.0	(22.0)
Cost of Goods Sold	(18,007)	(94.0)	(22,809)	100.0
Gross Profit	1,159	6.0	1,767	100.0	(34.4)
Operating Expenses	(1,223)	(6.4)	(1,583)	100.0
Operating Profit	(64)	(0.3)	184	100.0
Non-Operating Gain	(304)	(1.6)	146	100.0
Profit before Income Tax	(368)	(1.9)	329	100.0
Income Tax Expense	37	0.2	(49)	100.0
Net Profit	(331)	(1.7)	280	100.0
Basic EPS (after tax)	(0.88)		0.75

Note: 2013 figures are unaudited.

4

13.12.31 BS & CF Highlights

� Cash & Marketable Securities: NT$ 5,062M

• Debt Ratio: 37%, Current Ratio: 184%

• Notes & AR / Notes & AP : NT$ 2,421M / NT$ 2,511M

• Inventories: NT$ 1,343M

• BPS: NT$ 26.3

Note: 13Q4 figures are unaudited.

5

Consolidated BS & CF Highlights

			Unit: NT$ millions, % Amount % 3,693 22 4,313 26 1,566 9 5,759 34 16,703 100 600 4 3,471 21 6,550 39 3,903 23 4,737 28 10,153 61 Amount % (1,140) 13.09.30 13.1.1~9.30	Unit: NT$ millions, % Amount % 3,693 22 4,313 26 1,566 9 5,759 34 16,703 100 600 4 3,471 21 6,550 39 3,903 23 4,737 28 10,153 61 Amount % (1,140) 13.09.30 13.1.1~9.30
Year	13.12.31		13.09.30
Item	Amount	%	Amount	%
Cash & Marketable Securities	5,062	32	3,693	22
Notes & accounts receivables, net	2,421	15	4,313	26
Inventories	1,343	9	1,566	9
Property, Plant and Equipment	5,657	36	5,759	34
TOTAL ASSETS	15,718	100	16,703	100
Bank loan	1,000	6	600	4
Notes & accountspayable	2,511	16	3,471	21
TOTAL LIABILITIES	5,819	37	6,550	39
Common Stock	3,903	25	3,903	23
Retain Earnings	4,375	28	4,737	28
TOTAL EQUITY	9,900	63	10,153	61
Year	13.1.1~12.31		13.1.1~9.30
Item	Amount	%	Amount	%
Net Cash Provided byOperatingActivities	(406)		(1,140)

Note: 1. 13.12.31 figures are unaudited.

1. Outstanding common shares as of 13.12.31 were 377,015 thousand shares

6

Q&A Session

7

Safe Harbor Notice

We have made forward-looking statements in the presentation. Our forward-looking statements contain information regarding, among other things, our financial conditions, future expansion plans and business strategies. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such forward-looking statements are inherently subject to risks, uncertainties, and assumptions about us.

We undertake no obligation to publicly update or revise any forwardlooking statements whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in the conference might not occur and our actual results could differ materially from those anticipated in these forward-looking statements.

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