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CST — Interim / Quarterly Report 2020
Nov 17, 2020
51971_rns_2020-11-17_a10114ec-78d7-45b7-b595-72fcf52fc173.pdf
Interim / Quarterly Report
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正新橡膠工業股份有限公司 CHENG SHIN RUBBER IND. CO. LTD. 法人說明會 Investor Conference
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http://www.cst.com.tw/
Nov 17, 2020
0
We Deliver Performance[TM]
免責聲明
Safe Harbor Notice
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本簡報是建立於本公司從各項來源所取得之資訊。有些
資訊可能受未來不確定性因素影響，致使與原先本公司
對於未來前景的說明迥異。未來若有變更或調整時，請
以公開資訊觀測站公告資訊為依據。
This presentation is based on the information obtained from various sources which the Company believes to be reliable. But at some point in the future, there are a variety of factors which could cause actual results to differ materially from those statements. Therefore, please refer to the information on MOPS website as the main basis if any adjustment has been made. (http://mops.twse.com.tw)
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與會人員 Participants
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李宏格副總經理 Mr. Lee, Hung-Ko / Vice President 羅永勵副總經理 Mr. Lo, Yung Li / Vice President
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公司簡介 Company Introduction
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We Deliver Performance[TM]
公司簡介 Company Introduction
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正新橡膠工業股份有限公司 (Cheng Shin Rubber Ind. Co. Ltd.)
創立日期 1967 年 1 月 (Fundation) (Jan., 1967) 上市日期 1987 年 12 月 (IPO) (Dec.,1987) 董事長 陳榮華 (Chairman) (Yun Hwa, Chen)
營運總部 台灣彰化 (Headquarter) (Chunghwa, Taiwan) 資本額 新台幣 324.14 億元 (Capital) (NT$32.414 billion)
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員工人數 台灣 5,977 人；集團 28,557 人 (Number of (5,977 (Taiwan) ； 28,557 (Global)) employees)
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We Deliver Performance [TM]
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資料基準日 (Base Date) ： 2020-09-30
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全球生產基地 Production Plants
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中國正新 (CSTC) 重慶正新 (CSTS) 印度正新 (MRI) 營運總部 (HQ) 台灣正新 (CST) 11 座 泰國正新 (MIT) 輪胎製造工廠 越南正新 (CSV) (11 Production Plants) 廈門正新 (XCS) 廈門海燕 (CSTP) 印尼正新 (PTM) 漳州正新 (CSTZ) 正新實業 (CSTE)
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集團生產配置 Production Configuration
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台灣正新(CST) |
廈門正新(XCS) |
中國正新(CSTC) |
廈門海燕(CSTP) |
正新實業(CSTE) |
正新重慶(CSTS) |
漳州正新(CSTZ) |
泰國正新(MIT) |
越南正新(CSV) |
印度正新(MRI) |
印尼正新(PTM) |
|
|---|---|---|---|---|---|---|---|---|---|---|---|
輻射層汽車外胎(PCR) |
◎ | ◎ | ◎ | ◎ | ◎ | ||||||
輻射層卡車外胎(TBR) |
◎ | ◎ | ◎ | ◎ | |||||||
機車外胎(MC) |
◎ | ◎ | ◎ | ◎ | ◎ | ◎ | |||||
自行車外胎(BC) |
◎ | ◎ | ◎ | ◎ | |||||||
內胎(TUBE) |
◎ | ◎ | ◎ | ◎ | ◎ | ||||||
其他(OTHERS) |
◎ | ◎ | ◎ | ◎ |
資料基準日 (Base Date) ： 2020-09-30
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集團設備產能 Production Capacity
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單位：千條 / 日
Unit ： thousand pcs / day
OTHERS ： 96
TBR ： 22
TUBE ： 546
PCR ： 174
Total ： 1,351
• TUBE ：內胎
MC ： 176
• BC ：自行車外胎
• MC ：機車外胎
• PCR ：輻射層汽車外胎
BC ： 337 • TBR ：輻射層卡車外胎
• OTHERS ：其他
資料基準日 (Base Date) ： 2020-09-30
We Deliver Performance [[TM]] 7
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We Deliver Performance [[TM]]
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全球 Top10 輪胎廠營收 Revenues of Global Top 10 Tire Makers
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| 2019 Rank |
Company | Tire Sales |
|---|---|---|
| 10 | Zhongce Rubber Group Co. Ltd. | 3,585.0 |
| 9 | Maxxis International / Cheng Shin Rubber | 3,908.1 |
| 8 | Yokohama Rubber Co. Ltd. | 4,810.0 |
| 7 | Hankook Tire Co. Ltd. | 5,725.0 |
| 6 | Pirelli & C. S.p.A. | 5,935.0 |
| 5 | Sumitomo Rubber Industries Ltd. | 7,060.0 |
| 4 | Continental A.G. | 11,275.0 |
| 3 | Goodyear Tire & Rubber Co. | 13,690.0 |
| 2 | Bridgestone Corp. | 24,325.0 |
| 1 | Group Michelin | 25,000.0 |
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榮獲 BENZ 奔馳汽車優秀供應商大獎 Maxxis Awards
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榮獲 FORD 福特年度永續供應商大獎 Maxxis Awards
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榮獲 GM 通用汽車優秀供應商大獎 Maxxis Awards
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We Deliver Performance[TM]
贊助 MLB 洋基隊 Sponsor MLB New York Yankees
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營運成果 Operating Results
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營運成果摘要 ( 單季 ) Quarterly Operating Results
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單位：新台幣億元 Unit ： NT$ 100 million
2020 年 Q3
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營業收入
Net revenue
TWD279.3 億
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2020 年 Q3
2020 年 Q3
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資料來源 : 正新橡膠合併財報
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Source ： CSTG Financial Report
We Deliver Performance[TM]
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合併綜合損益表摘要 ( 單季 )
Quarterly Statements of Comprehensive Income Overview (Consolidated)
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單位：新台幣百萬元Unit ：NT$ million |
2020Q3金額(Amount) |
% | 2019Q3金額(Amount) |
% |
|---|---|---|---|---|
營業收入(Net revenue) |
27,927 | 100 | 27,632 | 100 |
營業成本(Cost of good sold) |
(20,197) | (72) | (21,779) | (79) |
營業毛利(Gross profit) |
7,730 | 28 | 5,853 | 21 |
營業費用(Operating expenses) |
(4,129) | (15) | (4,363) | (16) |
營業淨利(Operating profit) |
3,601 | 13 | 1,490 | 5 |
營業外淨支出(Non-operating gains & losses) |
(196) | (1) | (611) | (2) |
稅前淨利(Income before tax) |
3,405 | 12 | 879 | 3 |
本期淨利(Net Income) |
2,545 | 9 | 298 | 1 |
稅後每股盈餘(元)(EPS ；NT$) |
0.78 | 0.09 | ||
資料來源 : 正新橡膠合併財報
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Source ： CSTG Financial Report
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合併資產負債表摘要
Balance Sheet Overview (Consolidated)
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單位：新台幣百萬元Unit ：NT$ million |
2020/09/30金額(Amount) |
% | 2020/06/30金額(Amount) |
% |
|---|---|---|---|---|
現金及約當現金(Cash and cash equivalents) |
22,668 | 15 | 25,659 | 17 |
存貨(Inventories) |
14,240 | 9 | 15,814 | 10 |
不動產、廠房及設備(Net property, plant and equipment) |
89,705 | 60 | 90,565 | 59 |
資產總額(Total assets) |
149,793 | 100 | 153,421 | 100 |
流動負債(Current liabilities) |
36,112 | 24 | 37,635 | 24 |
長期借款&公司債(Long-term debts & corporate bonds) |
32,910 | 22 | 37,718 | 25 |
股東權益(Total shareholder’s equity ) |
76,354 | 51 | 73,242 | 48 |
負債及股東權益總額(Total liabilities and shareholder's equity) |
149,793 | 100 | 153,421 | 100 |
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資料來源：正新橡膠合併財報 (Source ： CSTG Financial Report)
We Deliver Performance[TM]
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合併現金流量表摘要
Statement of Cash Flow Overview (Consolidated)
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單位：新台幣百萬元Unit ：NT$ million |
2020/1/1~9/30金額(Amount) |
2020/1/1~6/30金額(Amount) |
|---|---|---|
合併稅前淨利(Net income before tax) |
4,262 | 857 |
營業活動之現金流入(CASH FLOWS FORM OPERATING ACTIVITIES ) |
15,775 | 8,145 |
投資活動之現金流出(CASH FLOWS FORM INVESTING ACTIVITIES) |
(5,108) | (3,164) |
取得不動產、廠房及設備(Acquisitions of property, plant and equipment) |
(5,266) | (3,320) |
籌資活動之現金流出(CASH FLOWS FROM FINANCING ACTIVITIES) |
(12,742) | (4,084) |
借款淨增加(減少)(Increase (decrease) in loans) |
(9,321) | (3,986) |
本期現金及約當現金增加數(Increase in cash and cash equivalents) |
(2,833) | 158 |
期末現金及約當現金餘額(Cash and cash equivalents at the end of year) |
22,668 | 25,659 |
資料來源：正新橡膠合併財報
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Source ： CSTG Financial Report
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We Deliver Performance[TM]
季度合併營收比較 Quarterly Revenues (Consolidated)
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單位：新台幣百萬元 Unit ： NT$ million
+26.77% 2020 年 Q2 2020 年 Q3
【營收差異 +26.77% 原因】 (Reasons of revenues increase 12.68%) 同期比較 (YoY) ： 價格與匯率影響： -1.29% (Price & exchange rate effect ： -1.29%) 數量影響： +25.75% (Quantity effect ： +25.75%) 其他影響： +2.31% (Other effect ： +2.31%)
資料來源：正新橡膠合併財報
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Source ： CSTG Financial Report
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各廠營收金額季度比較
Quarterly Revenues by Subsidiaries (Consolidated)
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單位：新台幣億元 Unit ： NT$ 100 million
2020Q2 2020Q3
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資料來源 : 正新橡膠合併財報 Source ： CSTG Financial Report
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各廠營收佔比季度比較
Proportion of Subsidiary Quarterly Revenue (Consolidated)
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2020Q2 2020Q3
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YoY ▼ 2.0% ▼ 1.1% ▲ 0.3% ▼ 2.9% ▲ 3.3% ▼ 1.3% ▼ 0.1% ▲ 0.6% ▲ 3.2%
資料來源：正新橡膠合併財報
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Source ： CSTG Financial Report
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集團區域銷售季度分析
Quarterly Revenues by Region
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中國大陸
(China)
歐洲 53.8% ( ▼ 9.9%)
(Europe)
7.5% ( ▲ 2.2%) 6.4%
76.6%
台灣 美洲
(Taiwan) (America)
5.9% ( ▼ 0.8%) 13.2% ( ▲ 5.7%)
10.5%
-
中東 非洲 亞太 123.1%
(M. East & Africa) (Asia Pacific)
3.8% ( ▲ 1.3%) 15.8% ( ▲ 1.5%)
39.1%
92.5%
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資料來源 : 正新集團自結報表
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Source ： CSTG Non-audited Financial Report
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We Deliver Performance[TM] 21
合併產品別銷售金額季度比較
Quarterly Revenues by Products (Consolidated)
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單位：營收金額佔比 Unit ： % of sales
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TBR PCR MC BC OTHER TUBE
18.8% ( ▼ 3.2%) 38.2% ( ▲ 3.3%) 13.8% ( ▲ 0.5%) 10.8% ( ▼ 0.1%) 11.2% ( ▲ 0.3%) 7.2% ( ▼ 0.8%)
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8.6% 38.6%
31.2% 25.5% 30.2% 13.9%
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資料來源 : 正新集團自結報表
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Source ： CSTG Non-audited Financial Report
We Deliver Performance[TM]
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合併產品別銷售量季度比較
Quarterly Quantities by Products (Consolidated)
單位：百萬條 Unit ： million pcs
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TBR PCR MC BC OTHER TUBE
1.3 10.2 12.8 27.6 6.7 60.5
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PCR,
40.9%
30.9% 18.7% 41.2% 23.5%
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8.7%
36.9%
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資料來源 : 正新集團自結報表
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Source ： CSTG Non-audited Financial Report
We Deliver Performance[TM]
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17 吋以上輪胎銷售季度比較 Quarterly Comparison ≧ 17” PCR Sales (Consolidated)
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單位： 17 吋以上 PCR 銷售 金額 佔比
Unit ： ≧ 17” % of PCR sales amount
2020Q3 2020Q2
≧ 17” 32.2% 30.2%
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We Deliver Performance[TM]
季度合併營業毛利率 Quarterly Gross Profit Rate (Consolidated)
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【營業毛利率上升 4.43% 原因】 (Reasons of gross profit rate increase 4.43%) 季度比較 (QoQ) ： 原料成本率下降 5.06% (Material cost rate decline 5.06%)
2020 年 Q2 2020 年 Q3
資料來源：正新橡膠合併財報
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Source ： CSTG Financial Report
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We Deliver Performance[TM]
2020 年第三季原料成本 Material Cost in 2020Q3
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11%
鋼絲 & 鋼絲簾布
Steel & Steel Cord Fabric
13% 24%
生膠
尼龍簾布
Natural Rubber
Nylon Cord Fabric
13%
碳煙 22%
Carbon 人造膠
Synthetic Rubber
17%
化學藥品
Chemicals
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We Deliver Performance[TM]
季度合併營業淨利率 Quarterly Operating Income Rate (Consolidated)
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【營業淨利率上升6.3%原因】(Reasons of operating income rate increase 6.3%)
季度比較 (QoQ) ：
-
營業費用率影響：下降1.87% (Operating expense rate effect：decline 1.87%) -
營業毛利率影響：上升4.43% (Gross profit rate effect：increase 4.43%)
2020 年 Q2
2020 年 Q3
資料來源：正新橡膠合併財報
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Source ： CSTG Financial Report
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We Deliver Performance[TM]
合併每股淨利 EPS (Consolidated)
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單位：新台幣元 Unit ： NT$
2020 年 Q1 2020 年 Q2 2020 年 Q3
資料來源：正新橡膠合併財報
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Source ： CSTG Financial Report
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We Deliver Performance[TM]
集團內外銷比率
Revenues by Domestic & Foreign Sales
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資料來源：正新集團自結報表 (2020 年 1-9 月 )
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Source ： CSTG Non-audited Financial Report (2020Q3)
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We Deliver Performance[TM]
集團 OE/RE 比率
Revenues by OE & RE Customer
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組車廠 (OE)
經銷商 (RE)
資料來源：正新集團自結報表 (2020 年 1-9 月 )
Source ： CSTG Non-audited Financial Report (2020Q3)
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We Deliver Performance[TM]
2020 年前三季營運摘要 2020Q3 Operating Overview
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單位：新台幣億元
Unit ： NT$100 million
其他 稅
營業收入 成本
Others Tax
Cost
Income
30.66 (99.67) 87.86 14.14 5.4 28.34
2019Q3 2020Q3
(2.32)
Net Profit Net Profit
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We Deliver Performance[TM]
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再次感謝各位投資人蒞臨 及對本公司之支持與愛護 Thanks for coming and kindly appreciate your support.
公司網站： http://www.cst.com.tw/ CST website
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We Deliver Performance[TM]