Altek — Investor Presentation 2015

Mar 10, 2015

2014 Q4 Investor Conference Mar. 10, 2015

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14Q4 IS Highlights

• Net Sales: down 7.6% from last quarter

• New products under development, seasonal factor

• Gross Profit %: 11.4%, up 0.7% (QoQ) & 5.7% (YoY)

• Product mix changed.

• OPEX %: 9.3%, up 0.3% compared to 14Q3

• Due to smaller revenue base. OPEX amount lowers than 14Q3.

• Non‐operating Loss: NT$ 50 millions

• EPS(weighted‐average shares): NT$0.11

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Condensed Consolidated Income Statements

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

Year	14. Q4	14. Q4	14. Q3	14. Q3	QoQ	2014	2014	2013	2013	YoY
Item	Amount	%	Amount	%	%	Amount	%	Amount	%	%
Net Sales	3,255	100.0	3,521	100.0	(7.6)	15,431	100.0	19,166	100.0	(19.5)
Cost of Goods Sold	(2,883)	(88.6)	(3,144)	(89.3)	0	(13,870)	(89.9)	(18,007)	(94.0)	0.0
Gross Profit	371	11.4	377	10.7	+0.7 ppts	1,561	10.1	1,159	6.0	+4.1 ppts
Operating Expenses	(304)	(9.3)	(318)	(9.0)	0.0	(1,260)	(8.2)	(1,223)	(6.4)	0.0
Operating Profit	67	2.1	59	1.7	+0.4 ppts	301	2.0	(64)	(0.3)	+2.3 ppts
Non‐Operating Gain	(50)	(1.5)	(20)	(0.6)	0.0	10	0.1	(304)	(1.6)	0.0
Profit before Income Tax	17	0.5	39	1.1	‐0.6 ppts	311	2.0	(368)	(1.9)	+3.9 ppts
Income Tax Expense	13	0.4	(9)	(0.2)	0.0	(35)	(0.2)	37	0.2	0.0
Net Profit	31	0.9	31	0.9	‐	276	1.8	(331)	(1.7)	+3.5 ppts
Basic EPS (weighted‐average shares )	0.11		0.09			0.80		(0.88)
Basic EPS (after capital reduction)	0.11		0.11			1.02

Note: Weighted‐average outstanding common shares of 14Q4 were 270,136 thousand shares, 345,978 thousand shares for 2014.

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14.12.31 BS & CF Highlights

� Cash & Marketable Securities: NT$ 5,804 M

• Debt Ratio: 39%, Current Ratio: 177 %

• Notes & AR / Notes & AP : NT$ 2,441 M / NT$ 2,933 M

• Inventories: NT$ 1,176 M

• BPS: NT$ 35.8

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Consolidated BS & CF Highlights

				Unit: NT$ millions, %	Unit: NT$ millions, %
	Year	14.12.31		14.9.30
	Item	Amount	%	Amount	%
	Cash & Marketable Securities	5,804	37%	5,961	36%
	Notes & accounts receivables, net	2,441	15%	2,933	18%
	Inventories	1,176	7%	1,093	7%
	Property, Plant and Equipment	5,604	35%	5,547	34%
	TOTAL ASSETS	15,852	100%	16,455	100%
	Bank loan	1,410	9%	1,609	10%
	Notes & accounts payable	2,933	19%	2,847	17%
	TOTAL LIABILITIES	6,172	39%	7,140	43%
	Common Stock	2,701	17%	2,759	17%
	Retain Earnings	2,965	19%	3,029	18%
	TOTAL EQUITY	9,680	61%	9,315	57%
	Year	14.Q4		14.Q3
	Item	Amount	%	Amount	%
	Net Cash Provided by Operating Activities	1,865		3

Note: Outstanding common shares as of 12.31,2014 were 270,136 thousand shares

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15 Q1 Guidance

6

Q&A Session

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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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