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CHROMA — Interim / Quarterly Report 2017
Oct 30, 2017
52029_rns_2017-10-30_59143519-69db-46e9-a1d8-88cb4e4c1a79.pdf
Interim / Quarterly Report
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致茂電子股份有限公司
2017 年第 3 季公司概況
財務長 應正
2017 年 10 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檢測
儀器與設備及整合性自動化測試解決方案。
-
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。
-
2016 年合併營收為 116 億新台幣。
-
2016 年淨利為 17 億新台幣。
-
致茂集團截至 2017 年 9 月底員工總數為 2,749 人。
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致茂電子榮獲第 5 屆「國家產業創新獎」最高榮譽
-
「卓越創新企業」。
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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
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11,644 11,624
5% 3%
10,171 10,307
9,692
7% 20%
15%
13%
48%
29%
24%
34%
44% 47% 60% 58% 74%
2012 2013 2014 2015 2016
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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 致茂母公司
7,233
11,644 11,624
10,171 10,307
9,692
56%
47% 55%
54% 54%
52%
5,135
39% 44%
4,539
37%
4,174
3,926
29%
16% 17%
15% 15%
13%
755 784 937
637 631
致茂母公司員工數： 1,621 ( 研發人員比重 38%)
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
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財務表現
股東權益報酬率
股利政策
每股盈餘 現金股利 配發比率
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17%
15%
14%
13%
12%
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4.53
3.51 3.30
3.28
3.21
2.52 2.60
2.50
2.40
2.00
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2012
2013 2014 2015 2016
2012 2013 2014 2015 2016
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致茂電子全球據點
Global Employees ： 2,749 , Branch Offices x24, Distributors x96
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Europe :
Netherlands
Germany
US :
Irvine/
Foothill Ranch, CA
Hong Kong :
Neworld
SE Asia: Singapore
India / Thailand / Vietnam Japan: Shin-Yokohama
Malaysia / Philippines /
Indonesia
China : Beijing / Nanjing / Shanghai / Suzhou
Chongqing / Xiamen / Shenzhen / Dongguan
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財務數據
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2017 年第三季 財務摘要皆為內部自結
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2017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) |
2017.前三季 % |
2016.前三季 % YoY % |
|||
|---|---|---|---|---|---|
| 淨營業收入 | 9,687 100% |
8,849 100% 9% |
|||
| 量測儀器事業部之合併營收(淨值) | 7,242 75% |
6,640 75% 9% |
|||
| 威光自動化事業部之合併營收 | 600 6% |
264 3% 127% |
|||
| 日茂特殊材料事業部之合併營收 | 1,528 16% |
1,658 19% (8%) |
|||
| 其他 | 317 3% |
287 3% 10% |
|||
| 營業成本 | (4,893) (51%) |
(4,732) (53%) 3% |
|||
| 營業毛利 | 4,794 49% |
4,117 47% 16% |
|||
| 營業費用 推銷管理費用 研發費用 |
(1,903) (20%) (899) (9%) |
(1,729) (20%) 10% (762) (9%) 18% |
|||
| 營業淨利 | 1,992 21% |
1,626 18% 23% |
|||
| 營業外收入及支出 | 52 - |
(26) - n/a |
|||
| 稅前淨利 所得稅費用 |
2,044 21% (385) (4%) |
1,600 18% 28% (290) (3%) 33% |
|||
| 本期淨利 | 1,659 17% |
1,310 15% 27% |
|||
| 其他綜合損益淨額 | (167) (2%) |
(177) (2%) (6%) |
|||
| 綜合損益總額 | $ 1,492 15% |
$ 1,133 13% 32% |
|||
| 淨利歸屬於: 本公司業主 非控制權益 |
1,670 17% (12) - |
1,338 15% 25% (28) - (57%) |
|||
| $ 1,658 17% |
$ 1,310 15% 27% |
||||
| 每股盈餘(基本) | $ 4.23 | $ 3.54 19% |
|||
| 每股盈餘(稀釋) | $ 4.07 | $ 3.31 23% |
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基本每股盈餘使用之加權平均股數為 2017 年 3 億 9 仟 5 佰萬股， 2016 年為 3 億 7 仟 8 佰萬股 .
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 |
2017. 9月 6,761 2,401 3,201 874 12,350 |
2016. 12月 5,829 1,906 1,012 2,765 10,788 |
+ / - % 16% 26% 216% - 68% 14% |
||
|---|---|---|---|---|---|
| 總資產 | 21,667 | 18,633 | 16% | ||
| 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(%) |
119 96 111 淨現金 |
104 88 101 淨現金 |
|||
| 股東權益報酬率(%) | 19% | 17% | |||
| 資產報酬率(%) | 11% | 10% | |||
| 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 |
2017.3Q 1,145 686 |
2017.2Q 715 638 |
與上季比較 60% 8% |
2017.前三季 去年同期比較 2,295 22% 1,089 11% |
|
| 自由現金流量 | (290) | 1,544 | n/a | 777 n/a |
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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 3 季重點摘要
- 總營業收入 : $23 億新台幣，
季增加 21% ，年減 4%
-
營業毛利率 : 53%
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營業利益率 : 26%
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淨利 : $8.7 億新台幣，
季增長 68% ，年增加 51%
-
2017 年第 3 季摘要 :
-
本季主要營收成長動能來自於半 導體測試解決方案及 Turnkey
Solutions ，分別較去年同期成長
。 44% 及 137%
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營業收入 營業毛利
2,373 營業利益率
2,285
1,890
1,797
1,654
1,617
1,589
55%
54% 53% 53%
52%
50%
50%
25% 26% 26%
23% 23% 22%
21%
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2016.1Q 2016.2Q 2016.3Q 2016.4Q 2017.1Q 2017.2Q 2017.3Q
2017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) |
2017.3Q % |
2017.2Q % QoQ % |
2016.3Q % YoY % |
|||
|---|---|---|---|---|---|---|
| 淨營業收入 | 2,285 100% |
1,890 100% 21% |
2,373 100% (4%) |
|||
| 營業成本 | (1,064) (47%) |
(908) (48%) 17% |
(1,186) (50%) (10%) |
|||
| 營業毛利 | 1,221 53% |
982 52% 24% |
1,187 50% 3% |
|||
| 營業費用 推銷管理費用 研發費用 |
(331) (14%) (290) (13%) |
(296) (16%) 12% (261) (14%) 11% |
(327) (13%) 1% (251) (11%) 16% |
|||
| 營業淨利 | 600 26% |
425 22% 41% |
609 26% (1%) |
|||
| 營業外收入及支出 | 383 17% |
182 10% 110% |
55 2% 596% |
|||
| 稅前淨利 | 983 43% |
607 32% 62% |
664 28% 48% |
|||
| 所得稅費用 | (117) (5%) |
(90) (5%) 30% |
(90) (4%) 30% |
|||
| 本期淨利 | $ 866 38% |
$ 517 27% 68% |
$ 574 24% 51% |
|||
| 其他綜合損益淨額 | 12 - |
(2) - n/a |
(79) (3%) n/a |
|||
| 綜合損益總額 | $ 878 38% |
$ 515 27% 70% |
$ 495 21% 77% |
|||
| 每股盈餘(基本) | $ 2.15 | $ 1.30 68% |
$ 1.52 43% |
|||
| 每股盈餘(稀釋) | $ 2.08 | $ 1.27 64% |
$ 1.42 46% |
|||
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100% 持有之子公司淨利認列，日茂為獲利 7 佰萬新台幣 ( 季下滑 30% ，年下滑 17%) ，威光為獲利 1 億 5 仟萬新台幣 ( 季成長 285% ，年成長 241%) 。
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2017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) |
2017.前三季 % |
2016.前三季 % YoY % |
||
|---|---|---|---|---|
| 淨營業收入 | 5,971 100% |
5,616 100% 6% |
||
| 營業成本 | (2,822) (47%) |
(2,728) (49%) 3% |
||
| 營業毛利 | 3,149 53% |
2,888 51% 9% |
||
| 營業費用 推銷管理費用 研發費用 |
(904) (15%) (804) (14%) |
(817) (14%) 11% (686) (12%) 17% |
||
| 營業淨利 | 1,441 24% |
1,385 25% 4% |
||
| 營業外收入及支出 | 490 8% |
185 3% 165% |
||
| 稅前淨利 | 1,931 32% |
1,570 28% 23% |
||
| 所得稅費用 | (261) (4%) |
(232) (4%) 13% |
||
| 本期淨利 | $ 1,670 28% |
$ 1,338 24% 25% |
||
| 其他綜合損益淨額 | (163) (3%) |
(173) (3%) (6%) |
||
| 綜合損益總額 | $ 1,507 25% |
$ 1,165 21% 29% |
||
| 每股盈餘(基本) | $ 4.23 | $ 3.54 19% |
||
| 每股盈餘(稀釋) | $ 4.07 | $ 3.31 23% |
||
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100% 持有之子公司淨利認列，日茂為獲利 1 仟 8 佰萬新台幣 ( 年下滑 44%) ，威光為獲利 1 億 8 仟 3 佰萬新台幣 ( 年成長 239%) 。
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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 |
2017. 9月 3,471 1,810 2,990 728 12,145 |
2016. 12月 3,656 1,458 800 2,597 10,617 |
+ / - % - 5% 24% 274% - 72% 14% |
||
|---|---|---|---|---|---|
| 總資產 | 18,216 | 16,586 | 10% | ||
| 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(%) |
156 123 106 2% |
145 100 91 淨現金 |
|||
| 股東權益報酬率(%) | 20% | 17% | |||
| 資產報酬率(%) | 13% | 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 |
2017.3Q 1,028 (52) |
2017.2Q 650 11 |
與上季比較 58% n/a |
2017.1~3Q 去年同期比較 2,063 21% (107) n/a |
|
| 自由現金流量 | (300) | 982 | n/a | 356 n/a |
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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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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 |
2017.3Q % QoQ YoY 1,068 47% (1%) 17% 882 38% 44% 142% 249 11% 137% (75%) 86 4% (10%) 12% |
2017.1~3Q % YoY 3,117 52% 20% 2,125 35% 143% 456 8% (76%) 274 5% 16% |
2016 % 3,570 49% 1,209 17% 2,143 30% 311 4% |
|
|---|---|---|---|---|
| Total | 2,285 100% 21% (4%) |
5,972 100% 6% |
7,233 100% |
|
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銷售佔比 (累計)
A Turnkey Solution and Intelligent Automation Line Provider
| 母公司 | 3,926 | 5,135 | 4,539 | 7,233 |
5,972 | ||
|---|---|---|---|---|---|---|---|
| 5% | 4% | 4% | 4% | 5% | |||
| 其他 | 9% | 18% | 12% | 8% | |||
| 30% | |||||||
| 21% | 17% | 35% | |||||
| 21% | |||||||
| Turnkey Solutions | |||||||
| 17% | |||||||
| 半導體測試解決方案 | |||||||
| 量測及自動化檢測設備 | |||||||
| 67% | 65% | 67% | 49% | 52% | |||
| 2013 | 2014 | 2015 | 2016 | 2017.1~3Q |
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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 |
2017.3Q % QoQ YoY 2,915 74% 30% 5% 358 9% 121% 184% 528 13% 8% (5%) 126 4% 29% 35% |
2017.1~3Q % YoY 7,242 75% 9% 600 6% 127% 1,528 16% (8%) 317 3% 10% |
||
|---|---|---|---|---|
| 集團合併營收 | 3,927 100% 32% 10% |
9,687 100% 9% |
||
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2017 年 2H 展望
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2017 年前三季致茂檢測設備事業體之營收主要成長動能來自於半導體測 。 試解決方案及量測與自動化檢測，分別較去年同期成長 143% 及 20%
展望 2017 年下半年，公司預期獲利能力將優於上半年，主要受惠於
-
電動車產業持續蓬勃發展帶動高功率電力電子相關之檢測設備需求。
-
受惠於 LD 雷射二極體 (VCSEL 垂直共振腔面射型雷射 ) 用於 3D 影像 之應用增長及新半導體測試設備 (SoC/Analog 測試系統 ) 銷售推升， 半導體檢測設備營收動能將延續至 2018 年。
-
受惠於 EV 電池交貨之營收貢獻，第四季 Turnkey Solutions 將優於第 三季。
-
子公司威光自動化因訂單挹注，下半年將有顯著獲利表現。
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Test Instruments & ATS – 1/2
TECHNOLOGY
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Independent 8K Graphics Core
HDMI 2.0a / Display Port 1.4
8K Pattern switch time <200ms
Video /FPD
Testing
8K x 4K@60Hz 8K x 4K@120Hz
Impedance Measurement
Passive
Wide Freq. range: 30MHz
Comp. Testing
DC Bias Current : 0-5A / 100KHz-10MHz
’17 ’17.2H
MARKET Flat Panel Display Portable & Wearable Device/IoT
New
New
New
8K Video Pattern Generator 8K FPD Tester
2238 2918
HF LCR Meter
11050-30M
A110502
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SOLUTION
21 21
Test Instruments & ATS – 2/2
TECHNOLOGY
High Precision Accuracy: 0.1%RD + 0.05%RNG High Transient Linear Load: 100us Power Testing In compliance with High Power Density: 6kW@4U IEC 61000-4-7 harmonic measurement Regenerative Design: >85% Energy Regenerative & High Accuracy Battery Testing Charge/Discharge mode: CC, CV, CP 5V, 60A High power density with competitive cost
Battery Testing
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’17 ’17.2H
MARKET EV/D2D/OBC/EVSE/HVDC Battery Cell/ Module/ Pack
New New
New
Digital Power Meter High Power DC Load
66205 150~1200V,4~24kW
63200E Series
New
Battery Charge & Discharge Tester Battery Pack Test System
17212R 60/100V, 10~80kW
SOLUTION
17020E Series
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Semiconductor Test Solutions – 1/3
TECHNOLOGY
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IC Testing
Robot Application Nitro TEC Engine
Handler °
0.02mm Tolerance to ~ -50 C
Multi Function SoC Solution
SoC/VLSI
Up to 750Mbps, 2048ch, 128 DPS,
Testing
400Msps AWG and 250Msps Digitizer
’17 ’17.2H
MARKET
ICs, IoT, MEMS, Sensors, PMIC, MCU
New New
New
Versatile Robotic Hybrid Chiller
Handler 3200 3100-CL
3680
SoC/Analog Test System
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SOLUTION
23 23
Semiconductor Test Solution – 2/3
TECHNOLOGY
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High Speed Double Side Inspection High Throughput Wide Temp. Range : -40C~85 ° C
15 ms per chip UPH 3600 High Stability: 0.5 ° C
Laser Diode
°
Testing High Accuracy TEC. Controller: Up to 0.01 C High Density Burn-in Module
Auto alignment for fiber-coupled tests 256Ch SMU/module, and Spike free
’17 ’17.2H
MARKET Fiber Optical Communication
Wafer Package Module
New
New
Wafer Chip CoC/CoS Laser Diode TO-CAN Package Laser Diode TOSA/BOSA Temperature
Inspection System Characterization System Inspection System Burn In System Control System
7940 58620 7925 58604 58691
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SOLUTION
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Semiconductor Test Solution – 3/3
TECHNOLOGY
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6” VCSEL Wafer High Accuracy TEC. Controller: Up to 0.01 ° C
NF & FF Testing (L-I-V) High Throughput: UPH 900
VCSEL
Testing
High Speed Double Side Inspection High Density Burn-in Module
15ms per chip 256Ch SMU/module, and Spike free
’17 ’17.2H
MARKET 3D Image Sensing/ AR/ Autonomous Driving
Wafer Package
New New New New
VCSEL Wafer Probing Wafer Chip VSCEL Module VCSEL Module
Test System Inspection System Characterization System Burn In System
58635 7940 58621 58604
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SOLUTION
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Turnkey/Smart Factory Solutions
TECHNOLOGY
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High current probe up to 200Amp
Battery Cell
Formation long life cycle time and reliable contact
Android Operating System
IMS
IoT Gateway
’17 ’17.2H
MARKET Battery Cell Formation Smart Factory
Prober
Smart Controller
98015
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SOLUTION
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