Amulaire — Call Transcript 2021

Jul 29, 2021

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Stock code ： 2241

Amulaire Thermal Technology, Inc.

2021 Second Quarter Earnings Conference

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Statements of Comprehensive Income

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2Q21 2Q21
2Q21 1Q21 2Q20 Over Over
( In NT$ thousands )
1Q21 2Q20
Net Revenue 267,470 237,771 190,606 12.49% 40.33%
Gross Margin 11.0% 23.7% 21.7% -53.59% -49.31%
Operating Expenses (45,872) (38,430) (27,134) 19.37% 69.06%
Operating Profit (16,570) 17,835 14,229 -192.91% -216.45%
Operating Margin -6.2% 7.5% 7.5% -182.67% -182.67%
Non-Operating Items (15,210) (6,188) (11,560) 145.80% 31.57%
Net Profit (Loss) (27,484) 9,304 2,230 -395.40% -1332.47%
Net Profit Margin 3.9% 3.9% 1.2% 0.00% 225.00%
Earnings (loss) per share
(0.31) 0.11 0.03 -392.38% -1123.33%
(NT Dollar)
ROE -1.6% 0.5% 0.2% -420.00% -900.00%
Shipment (pcs) 368,352 293,890 233,703 25.34% 57.62%
Average Exchange Rate-
27.860 28.535 29.63 -2.37% -5.97%
USD/NTD
Amulaire Thermal Technology C onfidential 2
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Balance Sheets & Key Indices

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2Q21 1Q21 2Q20
( In NT$ thousands )
Amount ％ Amount ％ Amount ％
Cach & cash equivalents 383,712 15.4% 610,922 24.6% 160,809 7.8%
Accounts & Notes Receivable 329,786 13.2% 326,966 13.2% 217,438 10.6%
Inventories 240,571 9.7% 190,504 7.7% 264,226 12.8%
Other current assets 136,265 5.5% 107,705 4.3% 169,082 8.2%
- -
Long-term investment 14,599 0.6% 0.0% 0.0%
PPE 1,200,940 48.2% 1,174,040 47.2% 1,177,381 57.1%
Other non-current assets 184,410 7.4% 75,864 3.0% 72,919 3.5%
Total Assets 2,490,283 100.0% 2,486,001 100.0% 2,061,855 100.0%
Current Liabilities 246,911 9.9% 208,650 8.4% 343,801 16.7%
Non-current Liabilities 477,594 19.2% 488,523 19.7% 666,385 32.3%
Total Liabilities 724,505 29.1% 697,173 28.0% 1,010,186 49.0%
Total Shareholders’Equity 1,765,778 70.9% 1,788,828 72.0% 1,051,669 51.0%
Key Indices
A/R Turnover Days 111.7 121.0 108.1
Inventory Turnover Days 82.4 86.3 162.1
Current Ratio (x) 4.4 5.9 2.4
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Amulaire Thermal Technology Confidential

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Cash Flows
( In NT$ thousands ) 2Q21 1Q21 2Q20
Beginning Balance 610,922 588,724 152,052
Cash inflow (outflow)
(60,424) (47,535) 16,386
generated from operatinos
Capital Expenditures (140,367) (18,616) (11,156)
Decrease in loans (12,059) (12,019) 60,000
Investments and others (14,360) 100,368 (56,473)
Ending Balance 383,712 610,922 160,809
Free Cash Flow (1) (200,791) (66,151) 5,230
(1) Free cash flow = Cash from operating activities – Capital expenditures
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Amulaire Thermal Technology Confidential

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Q & A

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