CHROMA — Interim / Quarterly Report 2015

Jan 4, 2016

==> picture [720 x 52] intentionally omitted <==

致茂電子股份有限公司

2015 年第 3 季公司概況

財務長 應正

2015 年 10 月 30 日

==> picture [193 x 211] intentionally omitted <==

----- Start of picture text -----

1
----- End of picture text -----

1

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.

2

議程

• 公司簡介 • 財務數據 • 營運概況 • 問與答

3

==> picture [720 x 52] intentionally omitted <==

公司簡介

4

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 9 月底員工總數為 2,294 人。

==> picture [314 x 426] intentionally omitted <==

----- Start of picture text -----

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%
----- End of picture text -----

2010 2011

2012

2013

2014

5

財務表現

==> picture [660 x 440] intentionally omitted <==

----- Start of picture text -----

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： 1,421  ( 研發人員比重 37%)
2010 2011 2012 2013 2014 2010 2011 2012 2013 2014
----- End of picture text -----

6

財務表現

股東權益報酬率

股利政策

==> picture [241 x 53] intentionally omitted <==

----- Start of picture text -----

每股盈餘 現金股利
股票股利
5.05
配發比率
----- End of picture text -----

==> picture [26 x 9] intentionally omitted <==

----- Start of picture text -----

25%
----- End of picture text -----

==> picture [634 x 351] intentionally omitted <==

----- Start of picture text -----

4.06
19% 3.80
3.51
3.21
15%
14%
2.52 2.60
2.50 2.50
12%
2.00
0.40
----- End of picture text -----

==> picture [241 x 11] intentionally omitted <==

----- Start of picture text -----

2010 2011 2012 2013 2014
----- End of picture text -----

==> picture [253 x 10] intentionally omitted <==

----- Start of picture text -----

2010 2011 2012 2013 2014
----- End of picture text -----

7

致茂電子全球據點

Global Employees ： 2,294  , 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

8

==> picture [720 x 52] intentionally omitted <==

財務數據

==> picture [504 x 11] intentionally omitted <==

9

2015年前三季合併損益表摘要

	合併損益表 (單位:佰萬新台幣，除每股盈餘為新台幣元)		2015.1-3Q %		~~10~~ 10 2014.1-3Q % YoY % 7,700 100% (7%) 4,508 59% (9%) 480 6% 98% 2,360 31% (26%) 352 4% (7%) (4,682) (61%) (13%) 3,018 39% 2% (1,437) (18%) 5% (604) (8%) 7% 977 13% (6%) 179 2% 40% 1,156 15% 1% (173) (2%) 18% 983 13% (2%) (100) (2%) n/a $ 883 11% 5% 898 12% 10% (15) (1%) 67% $ 886 11% 8% $ 2.66 (2%) $ 2.56 (3%)
	淨營業收入		7,131 100%
	量測儀器事業部之合併營收(淨值)		4,105 58%
	威光自動化事業部之合併營收		952 13%
	日茂特殊材料事業部之合併營收		1,745 24%
	其他		329 5%
	營業成本		(4,057) (57%)
	營業毛利		3,074 43%
	營業費用 推銷管理費用 研發費用		(1,513) (21%) (646) (9%)
	營業淨利		915 13%
	營業外收入及支出		251 3%
	稅前淨利 所得稅費用		1,166 16% (205) (3%)
	本期淨利		961 13%
	其他綜合損益淨額		(30) -
	綜合損益總額		$ 931 13%
	淨利歸屬於: 本公司業主 非控制權益		986 14% (25) (1%)
			$ 961 13%
	每股盈餘		$ 2.62
			$ 2.48

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. 9月 4,134 1,646 864 2,601 9,390	2014. 12月 + / - % 4,129 - 1,605 3% 426 103% 2,488 5% 9,373 -
總資產			15,895	14,970 6%
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(%)			108 119 93 -	91 108 76 -
股東權益報酬率(%)			14%	14%
資產報酬率(%)			8%	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.前三季 770 1,277	2014.前三季 743 682		年成長 4% 87%
自由現金流量	560	(844)		n/a

==> picture [8 x 9] intentionally omitted <==

股東報酬率及資產報酬率皆已年化。

==> picture [8 x 9] intentionally omitted <==

==> picture [8 x 9] intentionally omitted <==

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 ) 。

11 11

本季重點摘要

第 3 季重點摘要

• 總營業收入 : $13.6 億新台幣，

季增加 20% ，年減少 15%

• 營業毛利率 : 55%

• 營業利益率 : 22%

• 淨利 : $4.8 億新台幣，

季增加 27% ，年下滑 1%

• 2015 年第 3 季摘要 :

• 第三季營業收入最大成長動能來

自於 Turnkey Solution, 較上季成 。 長 145%

==> picture [306 x 438] intentionally omitted <==

----- Start of picture text -----

營業收入 營業毛利
營業利益率
1,604
1,345 1,356
1,249
57% 1,126
56% 55%
55% 53% 51% 53%
937
864
24%
23%
22%
18%
16% 16%
13%
----- End of picture text -----

2014.1Q 2014.2Q 2014.3Q 2014.4Q 2015.1Q 2015.2Q 2015.3Q

12 12

2015年第3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)		2015.3Q %		2015.2Q % QoQ %	2014.3Q % YoY %
	淨營業收入		1,356 100%		1,126 100% 20%	1,604 100% (15%)
	營業成本		(610) (45%)		(524) (47%) 16%	(752) (47%) (19%)
	營業毛利		746 55%		602 53% 24%	852 53% (12%)
	營業費用 推銷管理費用 研發費用		(235) (17%) (207) (16%)		(229) (19%) 3% (198) (18%) 5%	(268) (17%) (12%) (201) (13%) 3%
	營業淨利		304 22%		175 16% 74%	383 23% (21%)
	營業外收入及支出		243 18%		225 20% 8%	168 11% 45%
	稅前淨利		547 40%		400 36% 37%	551 34% (1%)
	所得稅費用		(65) (4%)		(19) (2%) n/a	(63) (4%) 3%
	本期淨利		$ 482 36%		$ 381 34% 27%	$ 488 30% (1%)
	其他綜合損益淨額		141 10%		(122) (11%) n/a	(66) (4%) n/a
	綜合損益總額		$ 623 46%		$ 259 23% n/a	$ 422 26% 48%
	每股盈餘(基本)		$ 1.28		$ 1.01 27%	$ 1.30 (2%)
	每股盈餘(稀釋)		$ 1.20		$ 0.96 25%	$ 1.14 5%

==> picture [11 x 9] intentionally omitted <==

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 9 佰萬新台幣 ( 季上升 111% ，年增加 19%) ，威光為獲利 2 仟 1 佰萬新台幣 ( 季成長 n/a ，年下滑 62%) 。

13 13

2015年前三季損益表摘要(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)		2015.1-3Q %		2014.1-3Q % YoY %
	淨營業收入		3,347 100%		3,790 100% (12%)
	營業成本		(1,505) (45%)		(1,718) (45%) (12%)
	營業毛利		1,842 55%		2,072 55% (11%)
	營業費用 推銷管理費用 研發費用		(673) (20%) (581) (17%)		(688) (18%) (2%) (541) (15%) 7%
	營業淨利		588 18%		843 22% (30%)
	營業外收入及支出		499 15%		290 8% 72%
	稅前淨利		1,087 33%		1,133 30% (4%)
	所得稅費用		(101) (3%)		(134) (4%) (25%)
	本期淨利		$ 986 30%		$ 999 26% (1%)
	其他綜合損益淨額		(32) (1%)		(101) (2%) n/a
	綜合損益總額		$ 954 29%		$ 898 24% 6%
	每股盈餘(基本)		$ 2.62		$ 2.66 (2%)
	每股盈餘(稀釋)		$ 2.48		$ 2.47 -

==> picture [11 x 8] intentionally omitted <==

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 3 仟 9 佰萬新台幣 ( 年減少 13%) ，威光為獲利 2 億 1 仟 9 佰萬 新台幣 ( 年成長 16%) 。匯兌收益為 5 仟 9 佰萬新台幣

14 14

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. 9月 2,388 1,303 626 2,451 9,250	2014. 12月 2,168 1,257 151 2,361 9,271	+ / - % 10% 4% n/a 4% -
總資產			13,679	13,290	3%
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(%)			230 178 102 7%	186 141 71 5%
股東權益報酬率(%)			14%	15%
資產報酬率(%)			10%	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3季 595 198	2015.第2季 447 188		QoQ 33% 5%	2015.前三季 YoY 1,228 (2%) 805 27%
自由現金流量	254	(5)		n/a	473 n/a

==> picture [8 x 9] intentionally omitted <==

股東報酬率及資產報酬率皆已年化。

==> picture [8 x 9] intentionally omitted <==

==> picture [8 x 9] intentionally omitted <==

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 ) 。

15 15

==> picture [720 x 52] intentionally omitted <==

營運概況

==> picture [503 x 11] intentionally omitted <==

16

各產品線銷售佔比

(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		2015.3Q % QoQ 840 62% 7% 197 15% 7% 257 19% 145% 62 4% 24%		2014.3Q % YoY 781 49% 8% 376 23% (48%) 407 25% (37%) 40 3% 55%		2015.1-3Q % 2,273 68% 534 16% 390 12% 150 4%		2014.1-3Q % YoY 2,109 56% 8% 794 21% (33%) 756 20% (48%) 131 3% 15%
Total		1,356 100% 20%		1,604 100% (15%)		3,347 100%		3,790 100% (12%)

17 17

銷售佔比 (累計)

A Turnkey Solution and Intelligent Automation Line Provider

母公司		5,338	4,174	3,926	5,135		3,347
			7%	6%	5%	4%	4%
	其他			10%	9%	18%	12%
			21%
				17%	21%		16%
			9%			21%
	半導體測試解決方案
	Turnkey Solutions
	量測及自動化檢測設備
			63%	67%	65%	57%	68%
		2011	2012	2013	2014	2015.1-3Q

18 18

合併營收佔比

(單位:百萬新台幣) 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		2015.3Q % QoQ 1,671 67% 22% 127 5% (81%) 587 23% 4% 113 5% 1%		2014.3Q % YoY 1,951 64% (14%) 208 7% (39%) 782 25% (25%) 126 4% (10%)		2015.1-3Q % 4,105 58% 952 13% 1,745 24% 329 5%		2014.1-3Q % YoY 4,508 59% (9%) 480 6% 98% 2,360 31% (26%) 352 4% (7%)
集團合併營收		2,498 100% (8%)		3,067 100% (19%)		7,131 100%		7,700 100% (7%)

19 19

Guidance

==> picture [12 x 12] intentionally omitted <==

==> picture [12 x 12] intentionally omitted <==

邁入傳統旺季，致茂電子 ( 母公司 ) 第三季營收較上季成長 20% 。其主要成長動 力來自於 Turnkey Solutions ，較上季成長 145% 。量測與自動化檢測系統，連 。 續兩季成長，本季分別較上季成長 7% ，較去年同期成長 8% 受惠於國際大廠採用之貢獻，致茂電子 ( 母公司 ) 前三季來自歐美日市場之銷售 。 金額佔比上升至 26%

==> picture [12 x 12] intentionally omitted <==

市場對工業自動化 (IA) 需求仍舊強勁。公司 2015 年工業自動化相關事業體之集 團營收佔比目標為由 2014 年之 16% 提升至 20% 以上。 2015 年前三季之佔比為 。 19%

==> picture [12 x 12] intentionally omitted <==

公司預期 2015 年母公司下半年之營收將優於上半年達 20% 以上，主要來自於 Turnkey Solutions 新產品線之交貨及受惠於潔淨科技相關之電力電子檢測設 備需求上升所致。

20 20

Test Instruments & ATS (1/2)

TECHNOLOGY

System Integration Automated AC Type: 10KW, SAE J1772 Testing DC Type: 10~50KW, IEC61851 Parallel, High Efficiency, Regenerative 60~300kW, >85% Power Bi-direction, AC/DC, AC/AC Testing Ultra High Measurement Accuracy High Transient Linear Load: 10us Voltage: 0.015%+0.015%F.S. High Power Density: 6kW@4U Current: 0.04%+0.04%F.S. ‘15 ‘16 MARKET Server/ Telecom Power/ DD Converter/ Grid/ Green Energy/ Electric Vehicle/ Power Battery Pack High Power DC Load 150~1200V,4~24kW, 632XXA Regenerative Grid Simulator Regenerative Battery Pack Tester 0~400Vac,30~60kVA, 61800 0~200V, 0~2600A, 0.6W~50kW, 17020 EV Charging ATS 8000

SOLUTION

21 21

Test Instruments & ATS (2/2)

TECHNOLOGY

==> picture [697 x 436] intentionally omitted <==

----- Start of picture text -----

High Speed CSP (Chip-Scale
LED Testing Packaged) ; UPH : 25k
High Density Burn-in Module
Optical Testing
128ch/module; 10sec/DUT
Passive Impedance Measurement Impulse & Hi-pot test with Vacuum
Comp. Testing Wide Freq. Range: 60Hz~5MHz 7 in 1 (ACW/DCW/IR/IWT/DCR/L/Q Phase)
4K x 2K@60Hz
Video Testing
5.4Gbps Lane Rate
‘15 ‘16
MARKET HD Display/ Fiber Communication/ High Power Components/ LED/ Motor
FPD Tester 040201
HF LCR Meter Programmable HF
11050-5M AC Tester 11805-20-20
Motor Stator
Test System 1920
LD CoC Characterization LD CoC Burn-In Test
Test System 58620 System 58601/58603
----- End of picture text -----

LED Tester & Tapper 58280

SOLUTION

22 22

Semiconductor Test Solutions

TECHNOLOGY

==> picture [696 x 426] intentionally omitted <==

----- Start of picture text -----

Thermal Engine
IC Testing
Nitro-TEC (Liquid Nitrogen)
Handler
Multi-site Testing Integrated Digital/ Mixed
Logic Testing
1024 digital pins, 200Mbps Signal Testing
High Power/High Accuracy
Analog Testing
VI 45/100/200; 4A Max; 0.05%
‘15 ‘16
MARKET IC – SoC/ MCU/ PMIC/ Sensors (touch-screen, fingerprint) / Connectivity (WiFi, BT)
Analog/power
Instruments
VI45/PVI100
SoC Test System VLSI Test System Full Range Active
3650-EX 3380-D Thermal Control
Handler 3160-F
----- End of picture text -----

SOLUTION

23 23

Turnkey Solutions

TECHNOLOGY

==> picture [679 x 426] intentionally omitted <==

----- Start of picture text -----

Collaborative Robotic Application
Automation
Smart Conveyance System
Configurable/Scalable/Reusable
Battery Cell Regenerative CH/DCH System
Testing 5V/10A,20A,50A, 100A Tester
Real-Time
MES Multi Protocol Interface
Mobile Production Report
‘15 ‘16
MARKET
Industry 4.0 – Battery Cell Formation/ Battery Pack Auto Assembly/ IT/ICT Auto Test Line/ Smart Factory
Battery Cell Formation
System 17000
Battery Pack Automatic
Assembly Line
Smart Conveyer 5703
----- End of picture text -----

SOLUTION

24 24

www.chromaate.com

==> picture [233 x 233] intentionally omitted <==

let’s make a better world.

Thank You!

25 25