CHROMA — Interim / Quarterly Report 2015

May 4, 2015

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致茂電子股份有限公司

2015 年第 1 季公司概況

2015 年 4 月 30 日

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Disclaimer

This presentation contains some forward-looking statements that are subject to substantial risks and uncertainties. Typically, these statements contain words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “plan”, “forecast”, “project”, “predict”, “potential”, “continue”, “may”, “should”, “will”, and “would” or similar words. You should consider these forward-looking statements carefully because such statements are only our expectations or projections about future events, and actual results may differ materially from those expressed or implied by such statements. The forward-looking statements in this presentation include, but are not limited to, growth rates for various markets estimated by third party sources, future products and technology development, widespread market acceptance of the hosted delivery model, future revenue growth and profitability. You should be cautioned that the forwardlooking statements are no guarantee of our future performance. The forward-looking statements contained in this presentation are made only as of the date of this presentation and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances, except as required by law. This presentation and the information contained herein are the property of Chroma Ate Inc.

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議程

• 公司簡介 • 財務數據 • 營運概況 • 問與答

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公司簡介

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公司簡介

• 致茂電子成立於 1984 ，為自有品牌之自動化檢測解

決方案供應商。商品包含提供產業相關之測試儀器

設備及整合自動化測試系統。

• 經營宗旨：精密、可靠、創新。

• 致茂集團包含致茂主體，威光自動化及日茂新材料

三個事業體。

• 2014 年合併營收為 103 億新台幣。

• 2014 年淨利為 13 億新台幣。

• 致茂集團截至 2015 年 3 月底員工總數為 2,224 人。

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致茂主體合併營收
日茂新材料合併營收 威光自動化合併營收
其他
14,886
14,148
11%
8%
11,644
5% 10,307
10,171
7%
47% 48%
15%
48% 29%
34%
40% 41% 44% 47% 60%
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2010 2011

2012

2013

2014

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財務表現

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集團合併總營收 集團合併 總營收 研發費用
營業毛利
營業毛利率
研發費用佔營收比
致茂主體
14,886
5,640 55%
54% 54%
14,148
5,338
55% 5,135
52%
11,644 37% 39%
4,174
3,926
10,307
10,171
29% 29%
28%
16%
15% 15%
12%
11%
755
603 630 637 631
致茂母公司員工數： 1,312  ( 研發人員比重 40%)
2010 2011 2012 2013 2014 2010 2011 2012 2013 2014
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財務表現

股東權益報酬率

股利政策

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每股盈餘 現金股利
股票股利
5.05
配發比率
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25%
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4.06
19% 3.80
3.51
3.21
15%
14%
2.52 2.60
2.50 2.50
12%
2.00
0.40
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2010 2011 2012 2013 2014
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2010 2011 2012 2013 2014
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致茂電子全球據點

Global Employees ： 2,268  , Branch Offices x16, Distributors x65, Subsidiaries x6

Europe : Netherlands

US : Hong Kong : Neworld Irvine / Foothill Ranch, CA Tempe, AZ Japan: Shin Yokohama

China : Shenzhen / Dongguan / Xiamen / Suzhou

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財務數據

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2015年第1季合併損益表摘要

	合併損益表 (單位:佰萬新台幣，除每股盈餘為新台幣元)			2015.1Q %	2015.1Q %		10 10 2014.1Q % YoY % 2,006 100.0% (4%) 1,081 53.2% (1%) 96 5.4% 68% 728 36.3% (18%) 101 5.1% 2% (1,250) (62.3%) (10%) 756 37.7% 5% (431) (21.5%) 10% (182) (9.1%) 7% 143 7.1% (8%) 54 2.7% (78%) 197 9.8% (27%) (25) (1.2%) 20% 172 8.6% (34%) 48 2.4% n/a $ 220 11.0% (72%) 178 8.9% (31%) (6) (0.3%) 67% $ 172 8.6% (34%) $ 0.48 (31%)
	淨營業收入			1,924 100%
	量測儀器事業部之合併營收(淨值)			1,065 56%
	威光自動化事業部之合併營收			161 8%
	日茂特殊材料事業部之合併營收			595 31%
	其他			103 5%
	營業成本			(1,127) (59%)
	營業毛利			797 41%
	營業費用 推銷管理費用 研發費用			(472) (25%) (194) (10%)
	營業淨利			131 6%
	營業外收入及支出			12 1%
	稅前淨利 所得稅費用			143 7% (30) (1%)
	本期淨利			113 6%
	其他綜合損益淨額			(51) (3%)
	綜合損益總額			$ 62 3%
	淨利歸屬於: 本公司業主 非控制權益
				$ 113 6%
	每股盈餘			$ 0.33

資產負債摘要及財務指標

集團合併 (單位：佰萬新台幣) 資產負債摘要 現金及流動金融資產 存貨 短期負債 長期負債 股東權益			2015. 3月 4,601 1,587 323 2,422 9,444	2014. 12月 + / - % 4,129 11% 1,605 - 1% 423 - 24% 2,488 - 3% 9,373 1%
總資產			14,945	14,970 -
存貨週轉天數 應收帳款週轉天數 應付帳款週轉天數 淨負債資產比(%)			137 127 102 -	91 108 76 -
股東權益報酬率(%)			5%	14%
資產報酬率(%)			3%	9%
現金流量 (單位：佰萬新台幣) 未計利息稅項折舊及攤銷 營業現金流入	2015.1Q 234 807	2014.1Q 271 303		年成長 (14%) 166%
自由現金流量	534	287		86%

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股東報酬率及資產報酬率皆已年化。

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自由現金流量 = 營運活動之淨現金流入 + ( 投資活動之淨現金流出 ) 。

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本季重點摘要

第 1 季重點摘要

• 總營業收入 : $8.64 億新台幣，

季減少 36% ，年減少 8%

• 營業毛利率 : 57%

• 營業利益率 : 13%

• 淨利 : $1.23 億新台幣，

季下滑 61% ，年減少 31%

• 2015 年第 1 季摘要 :

• 第一季營業收入主要貢獻來自於

量測設備與自動化檢測系統。

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營業收入 營業毛利
營業利益率
1,604
1,345
1,249
57%
56%
55%
53% 51%
937
864
24%
23%
18%
16%
13%
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2014.1Q 2014.2Q 2014.3Q 2014.4Q 2015.1Q

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2015年第1季損益表摘要(母公司)

	損益表摘要(母公司) (單位:佰萬新台幣，除每股盈餘為新台幣元)		2015.1Q %		2014.4Q % QoQ %	2014.1Q % YoY %
	淨營業收入		864 100%		1,345 100% (36%)	937 100% (8%)
	營業成本		(369) (43%)		(664) (49%) (44%)	(421) (45%) (12%)
	營業毛利		495 57%		681 51% (27%)	516 55% (4%)
	營業費用 推銷管理費用 研發費用		(210) (24%) (176) (20%)		(259) (19%) (19%) (213) (16%) (17%)	(183) (19%) 15% (162) (17%) 9%
	營業淨利		109 13%		209 16% (48%)	171 19% (36%)
	營業外收入及支出		31 4%		142 10% (78%)	31 3% -
	稅前淨利		140 16%		351 26% (60%)	202 22% (31%)
	所得稅費用		(17) (2%)		(32) (2%) (47%)	(24) (3%) (29%)
	本期淨利		$ 123 14%		$ 319 24% (61%)	$ 178 19% (31%)
	其他綜合損益淨額		(51) (6%)		102 7% n/a	47 5% n/a
	綜合損益總額		$ 72 8%		$ 421 31% n/a	$ 225 24% (68%)
	每股盈餘(基本)		$ 0.33		$ 0.85 (61%)	$ 0.48 (31%)
	每股盈餘(稀釋)		$ 0.32		$ 0.84 (62%)	$ 0.47 (32%)

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本季營業外收入包含 100% 持有之子公司淨利認列，日茂為獲利為 1 仟 1 佰萬新台幣 ( 季減少 45% ，年減少 32%) ，威光為獲利 3 仟 2 佰萬新台幣 ( 季持平，年成長 256%) 。

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資產負債摘要及財務指標

未合併 (單位：佰萬新台幣) 資產負債摘要 現金及流動金融資產 存貨 短期負債 長期負債 股東權益			2015. 3月 2,340 1,315 140 2,297 9,334	2014. 12月 2,168 1,257 151 2,361 9,271	+ / - % 8% 5% - 7% - 3% 1%
總資產			13,144	13,290	- 1%
存貨週轉天數 應收帳款週轉天數 應付帳款週轉天數 淨負債資產比(%)			314 216 124 1%	186 141 71 5%
股東權益報酬率(%)			5%	15%
資產報酬率(%)			4%	11%
現金流量 (單位：佰萬新台幣) 未計利息稅項折舊及攤銷 營業現金流入	2015.第1季 186 419	2014.第4季 397 187		QoQ (53%) 124%	2014.第1季 YoY 240 (23%) 354 18%
自由現金流量	224	412		(46%)	332 (33%)

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股東報酬率及資產報酬率皆已年化。

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自由現金流量 = 營運活動之淨現金流入 + ( 投資活動之淨現金流出 ) 。

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營運概況

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產品銷售佔比 ( 每季 )

(單位:百萬新台幣) 量測及自動化檢測設備 半導體測試解決方案 Turnkey Solutions 其它		2015.1Q % 646 75% 152 18% 28 3% 38 4%		2014.4Q % QoQ 810 60% (20%) 291 22% (48%) 179 13% n/a 65 5% (42%)	2014.1Q % 594 63% 158 17% 146 16% 39 4%	YoY 9% (4%) n/a -
合計		864 100.0%		1,345 100.0% (36%)	937 100.0%	(8%)

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合併營收佔比

(Unit: Million NTD) 致茂電子 (含海外量測事業子公司) 威光自動化 日茂新材料 其它		2015.1Q % 1,065 56 161 8% 595 31% 103 5%		2014.4Q % QoQ 1,667 64% (36%) 201 8% (20%) 623 24% (4%) 116 4% (11%)	2014.1Q % YoY 1,081 54% (1%) 96 5% 68% 728 36% (18%) 101 5% 2%
集團合併營收		1,924 100.0%		2,607 100.0% (26%)	2,006 100.0% (4%)

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Guidance

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因受市場資本支出減少及淡季影響，致茂母公司第 1 季營業收入較去年同期下 。 滑 8% 。但量測及自動化檢測設備仍舊叫去年同期成長 9% 致茂公司預期第二季之獲利將優於前兩季。 市場對工業自動化 (IA) 需求仍舊強勁。公司預期集團合併營收來自工業自動化 相關事業體之佔比將由 2014 年 16% 成長至 20% 以上。

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為因應快速成長之物聯網 (IoT) 市場，致茂電子已具備相關之測試解決方案及 系統整合能力，此將成為近期成長動能。

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公司成長策略

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(NT$ Million)
6,000
5,000
Turnkey Solutions
Semiconductor Test Solutions
4,000
Test Instruments & ATS
Others
3,000
2,000
1,000
1984
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Application Roadmap

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Emerging Industries Smart Factory Internet of Things

Growth Engines

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LED
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Photovoltaic
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Electric Vehicle
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Battery
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Power Passive Internet/
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Niche Market Niche Product

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測試解決方案

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FPD/
Video &
Color
Optical Power
Devices Electronics
Passive
Turn- Component
Battery &
Electrical
Key
Safety
Solution
Provide
r
Semi-
Electric
conductor
Vehicle
/ IC
Photo- LED/
voltaic Lighting
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Turnkey Solutions for Smart Factory

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Turnkey Solutions in Smart Factory Application

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Automation Integration
Test & Manufacturing
Measurement Execution Sys.
3C Device Automatic Testing
Battery Pack Automatic Assembly
Passive Component Testing & Packing
LED Lighting Auto Assembly & Testing
Battery Cell Formation
Photovoltaic Automatic Testing & Sorting
Flat Panel Display Burn-in & Testing
IC (CIS) Automatic Testing & Sorting
2008 2009 2010 2011 2012 2013 2014 2015 2016
Solutions
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IoT Test Solutions

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Semiconductor Testing in IoT Application

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Sensor Layer Wireless MCU PMIC Sensors
Applications • Connectivity (WiFi, • MCU • LDO • CIS
Bluetooth, GPS) • MCU + ADDA • Regulators • Light Sensors
• Mobile (GSM, • MCU + E-MEM • DC/DC • Compass
WCDMA, LTE) • MCU + RF • AC/DC • M Sensors
• PA / FEM • MCU + PMIC • PMIC • G Sensors
DUT
• TV / FM Tuner
• LED Driver • Gyro
• Integrated Power • RF ID/Smart Card
MOS •
Temperature Sensor
• Motor Drive
PXI RF System
36XX / 33xx Series 36XX Series 33XX Series
Test
Solutions
3240Q RF IC
Handler
3380P + 3270
31XX series VI45/PVI100
Integrated Solution
Adivic MP5800
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Optical Device & Wireless Testing In IoT Application

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Network Layer
Wafer Package Wireless
Applications
● VCSEL ● TO-CAN ● WiFi
● EEL ● TOSA ● Bluetooth
● Photo Diode ● ROSA ● GPS
DUT ● BOSA ● LTE
● CoC
● CoS
Wireless Communication
Test System
TO-CAN package
Test Inspection System
Burn-In system VCSEL Tester
Bluetooth Tester
Solutions TO-CAN Laser Diode
Burn-In system
Wireless Test Station
GPS Simulator
Double Sides Wafer
Laser Diode
Inspection System
Characterization System
RF Recorder/Player
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www.chromaate.com

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let’s make a better world Thank You!

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