DELTA — Interim / Quarterly Report 2019

Mar 11, 2020

Delta Electronics, Inc. Q4 2019 Results 台達電子2019年第四季財報法人說明會

11 March 2020

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• The financial numbers hereby are based on International Financial Reporting Standards (IFRS) 本簡報財務數字係根據國際財務報導準則編製

• Cumulative consolidated numbers were audited by CPA 合併數字經會計師查核簽證

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4Q 2019 Financial Results 2019年第四季結算數字

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Sales Revenues & Gross Profits

合併營收及毛利

NT$ billion 新台幣十億元

Sales 營收
	4Q18	1Q19	2Q19	3Q19	4Q19
Sales	64.6	54.1	73.4	72.4	68.2

GP 毛利
	4Q18	1Q19	2Q19	3Q19	4Q19
GP	18.3	14.3	19.8	20.4	20.0
GPM	28.3%	26.3%	27.0%	28.2%	29.3%

y/y q/q 年對年 季對季 Sales +6% -6% 營收 GP +10% -2% 毛利

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NT$ billion 新台幣十億元

Operating Profits & Expenses 營業淨利及費用

00 5.0 10.0 15.0 20.0 R&D SG&A OP	5.9 3.2 5.3 5.5 5.4 6.9 6.4 8.4 8.5 7.9 5.4 4.7 6.1 6.4 6.7 4Q18 1Q19 2Q19 3Q19 4Q19 8.4% 8.7% 8.3% 8.8% 9.8% 10.7% 11.8% 11.4% 11.8% 11.6% 19.1% 20.5% 19.7% 20.6% 21.4% 9.2% 5.8% 7.3% 7.6% 7.9%	5.9 3.2 5.3 5.5 5.4 6.9 6.4 8.4 8.5 7.9 5.4 4.7 6.1 6.4 6.7 4Q18 1Q19 2Q19 3Q19 4Q19 8.4% 8.7% 8.3% 8.8% 9.8% 10.7% 11.8% 11.4% 11.8% 11.6% 19.1% 20.5% 19.7% 20.6% 21.4% 9.2% 5.8% 7.3% 7.6% 7.9%	5.9 3.2 5.3 5.5 5.4 6.9 6.4 8.4 8.5 7.9 5.4 4.7 6.1 6.4 6.7 4Q18 1Q19 2Q19 3Q19 4Q19 8.4% 8.7% 8.3% 8.8% 9.8% 10.7% 11.8% 11.4% 11.8% 11.6% 19.1% 20.5% 19.7% 20.6% 21.4% 9.2% 5.8% 7.3% 7.6% 7.9%	5.9 3.2 5.3 5.5 5.4 6.9 6.4 8.4 8.5 7.9 5.4 4.7 6.1 6.4 6.7 4Q18 1Q19 2Q19 3Q19 4Q19 8.4% 8.7% 8.3% 8.8% 9.8% 10.7% 11.8% 11.4% 11.8% 11.6% 19.1% 20.5% 19.7% 20.6% 21.4% 9.2% 5.8% 7.3% 7.6% 7.9%	5.9 3.2 5.3 5.5 5.4 6.9 6.4 8.4 8.5 7.9 5.4 4.7 6.1 6.4 6.7 4Q18 1Q19 2Q19 3Q19 4Q19 8.4% 8.7% 8.3% 8.8% 9.8% 10.7% 11.8% 11.4% 11.8% 11.6% 19.1% 20.5% 19.7% 20.6% 21.4% 9.2% 5.8% 7.3% 7.6% 7.9%	y/y 年對年 q/q 季對季
						R&D 研發費用 +24% +5%
						SG&A 銷管費用 +14% -7%
. (% of sales)	4Q18	1Q19	2Q19	3Q19	4Q19
R&D	8.4%	8.7%	8.3%	8.8%	9.8%
						OPEX 總營業費用 +18% -2%
SG&A	10.7%	11.8%	11.4%	11.8%	11.6%
OPEX	19.1%	20.5%	19.7%	20.6%	21.4%
						OP 營業淨利 -9% -3%
OPM	9.2%	5.8%	7.3%	7.6%	7.9%

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Performance by Segment 主要部門表現

NT$ million Sales Profits 新台幣百萬元 y/y q/q y/y q/q 年對年 季對季 年對年 季對季 Power Electronics 34,949 +22% -9% 4,159 +15% -18% 電源及零組件 Automation 9,625 +11% +1% 857 +2% +17% 自動化 Infrastructure 23,389 -13% -5% 1,898 -30% +48% 基礎設施

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Sales%
營收佔比
Power Electronics Automation
Infrastructure Others
44%
53% 51%
13%
13% 14%
42%
34% 34%
1% 0% 1%
4Q18 3Q19 4Q19
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Non-operating Profits 業外損益

NT$ billion NT$ million 4Q18 3Q19 4Q19 新台幣十億元 新台幣百萬元 Gain on disposal of investment 0 0 189 處分投資損益 Interest income 120 (11) 38 利息收益 FX income 145 278 36 匯兌損益 Others 1,108 717 617 其他 4Q181Q192Q193Q194Q19 non-op 1.4 0.8 7.1 1.0 0.8 Total 1,373 984 880 % of sales 2.1% 1.5% 9.6% 1.4% 1.3% 合計

Non-OP 業外損益

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Profits before Tax v.s EBITA 稅前淨利及息稅折舊及攤銷前利潤

NT$ billion Profits 新台幣十億元 before

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y/y q/q 年對年 季對季

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tax

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	Profits before tax N 新	Profits before tax N 新	T$ billion 台幣十億元
	稅前淨利		4Q18	1Q19	2Q19	3Q19	4Q19
		PBT	7.3	3.9	12.5	6.5	6.2
		% of sales	11.3%	7.3%	17.0%	9.0%	9.2%

Profits before -14% -4% tax 稅前淨利 EBITA 息稅折舊及 +1% -3% 攤銷前利潤

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EBITA
息稅折舊及
攤銷前利潤
4Q18 1Q19 2Q19 3Q19 4Q19
EBITA 10.1 7.0 16.2 10.4 10.2
% of sales 15.7% 13.0% 22.1% 14.4% 14.9%
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Net Profits after Tax

稅後淨利

Net profits after	NT$ billion 新台幣十億元	NT$ billion 新台幣十億元	NT$ billion 新台幣十億元	NT$ billion 新台幣十億元	NT$ billion 新台幣十億元	NT$ billion 新台幣十億元
tax 稅後淨利	4Q 18	1Q 19		2Q 19	3Q 19	4Q 19
Net profits after tax	6.0	3.4		9.5	5.1	5.1
% of sales	9.4%	6.2%		13.0%	7.1%	7.5%
			y/y		q/q
Net profits after tax			-16%		-1%

NT$ million 4Q18 3Q19 4Q19 新台幣百萬元 Profit before income tax 7,295 6,505 6,260 稅前淨利 Income tax (1,172) (1,162) (1,151) 所得稅 Non-controlling interest (79) (213) (23) 非控制權益 Net profit after tax 6,044 5,130 5,086 稅後淨利

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EPS 每股淨利

Unit: NT$ 新台幣元

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一次性非現金
1.75
處份投資利益-DET
3.67
2.32 1.92
1.97
1.30
4Q18 1Q19 2Q19 3Q19
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1.96 4Q19

*EPS based on shares outstanding of 2,598 million. 每股盈餘之設算基於在外流通股數25.98億股。

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2019 Full-year Financial Results 2019年結算數字

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NT$ billion 新台幣十億元

Sales Revenues & Gross Profits

合併營收及毛利

Sales Sales 營收 GP 毛利	Sales Sales 營收 GP 毛利	2018 2019 63.6 74.5 26.8% 27.8% 2018 2019 237.0 268.1	2018 2019 63.6 74.5 26.8% 27.8% 2018 2019 237.0 268.1	y/y 年對年
				Sales 營收 +13%
		2018	2019
	Sales	237.0	268.1
				GP 毛利 +17%
		2018	2019
GP		63.6	74.5
% of sales		26.8%	27.8%

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Operating Profits & Expenses 營業淨利及費用

00 20.0 40.0 60.0 R&D SG&A OP	18.2 19.4 26.1 31.2 19.3 23.9 2018 2019 8.1% 8.9% 11.0% 11.6% 19.1% 20.5% 7.7% 7.2% NT$ billion 新台幣十億元	18.2 19.4 26.1 31.2 19.3 23.9 2018 2019 8.1% 8.9% 11.0% 11.6% 19.1% 20.5% 7.7% 7.2% NT$ billion 新台幣十億元
			y/y 年對年
			R&D 研發費用 +24%
			SG&A 銷管費用 +19%
. (% of sales)	2018	2019
R&D	8.1%	8.9%
			OPEX 總營業費用 +21%
SG&A	11.0%	11.6%
OPEX	19.1%	20.5%
			OP 營業淨利 +7%
OPM	7.7%	7.2%

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Performance by Segment 主要部門表現

NT$ million Sales Profits 新台幣百萬元 y/y y/y 年對年 年對年 Power Electronics 133,070 +24% 15,512 +34% 電源及零組件 Automation 37,605 +7% 3,284 -24% 自動化 Infrastructure 96,724 +4% 6,411 -7% 基礎設施

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Sales%
營收佔比
Power Electronics Automation
Infrastructure Others
45%
50%
15%
14%
39%
36%
1% 0%
2018 2019
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Non-operating Profits

業外損益

								業外損益
			NT$ billion 新台幣十億元			NT$ million 新台幣百萬元	2018	2019
						Gain on disposal of investment 處分投資損益	0	6,002
	Non-OP 業外損益					Interest income 利息收益	305	155
						FX income 匯兌損益	413	517
		non-op	2018 4.6	2019 9.7		Others 其他	3,916	3,072
		% of sales	2.0%	3.6%		Total 合計	4,634	9,746

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Profits before Tax v.s EBITA 稅前淨利及息稅折舊及攤銷前利潤

NT$ billion Profits 新台幣十億元 before y/y tax 年對年 稅前淨利 2018 2019 PBT 22.8 29.1 Profits before tax % of sales 9.6% 10.9% +28% 稅前淨利 EBITA 息稅折舊及 攤銷前利潤 2018 2019 EBITA +27% EBITA 34.5 43.9 息稅折舊及攤銷前利潤 % of sales 14.6% 16.4%

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Net Profits after Tax

稅後淨利

	Net profits after tax 稅後淨利 NT$ billion 新台幣十億元	Net profits after tax 稅後淨利 NT$ billion 新台幣十億元	Net profits after tax 稅後淨利 NT$ billion 新台幣十億元	Net profits after tax 稅後淨利 NT$ billion 新台幣十億元	NT$ million 新台幣百萬元 2018 2019 Profit before income tax 稅前淨利 22,801 29,154 Income tax 所得稅 (4,152) (5,227) Non-controlling interest 非控制權益 (456) (809) Net profit after tax 稅後淨利 18,193 23,118
		元
		2018		2019
	Net profits after tax	18.2		23.1
	% of sales	7.7%		8.6%
			y/y
	Net profits after tax		+27%

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EPS 每股淨利

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Unit: NT$ 新台幣元

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扣除一次性非現金
1.75
處份投資利益-DET
8.90
7.15
7.00
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2018

2019

• *EPS based on shares outstanding of 2,598 million

• 每股盈餘之設算基於在外流通股數25.98億股。

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Proposed Earnings Distribution 董事會建議盈餘分配

Cash dividend per share: NT$5 現金股利每股新台幣5元

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