FocalTech — Interim / Quarterly Report 2019

Aug 15, 2019

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敦泰電子(3545)法人說明會

FocalTech Investor Conference

2019/8/14

The world leader in human machine interface solutions

免責聲明DISCLAIMER

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• 本簡報之內容可能包括本公司基於從各項來源所取得的資訊， 對於營運、財務狀況與企業發展情形的前瞻性預估。

• This presentation may contain “forward-looking statements” which may include projections on future results of operations, financial condition, and business prospects based on our own information and other sources.

• 因為包括但 不 限於市場需求、 價格波動、 競爭態勢、 供應鏈 變動、全球經濟局勢、 匯率波動及其他本公司無控制力之風 險 等各種因素，實際的營運、財務狀況與企業發展情形，可能會 與本公司於預測中明示或默示敘述有差異。

• The actual results of operations, financial condition, and business prospects may differ from those explicitly or implicitly indicated in those forward-looking statements for a variety of reasons, including but not limited to market demand, price fluctuations, competition, supply chain issues, global economic conditions, exchange rate fluctuation and other risks and factors beyond FocalTech’s controls.

• 本簡報之內容若有對未來之前瞻性預估，僅反映本公司於發佈當時之看法。本公司並無義務於日後情況變更時，更新前瞻 預估。

• The forward-looking statements in this presentation, if any, only reflect the current view of FocalTech as of the date of its release. FocalTech undertakes no obligation to update those forward-looking statements for events or circumstances that occur subsequently.

CONFIDENTIAL

© 2018 FocalTech Systems Co., Ltd. All rights reserved

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2019 Q2 Results Summary /108年第2季總結 (1)

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• 受惠於季節性效應的幫助之外，敦泰第2季量產出貨機型也快速增加，成功推升營 收季增30%，表現符合預期。但由於手機市場低迷，外加敦泰IDC整體出貨尚未恢 復去年水準，使得單季營收較去年同期減少22%。

 The revenue of Q2 increased by 30% QoQ, which is following the seasonal growth pattern and in line with the expectation. However, due to the weak over-all cellphone market plus our IDC product line business has not returned to the level of last year, the total revenue in Q2 showed a YoY reduction of 22%.

CONFIDENTIAL © 2018 FocalTech Systems Co., Ltd. All rights reserved

3

2019 Q2 Results Summary /108年第2季總結(2)

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 在高毛利產品營收比重提升下，敦泰第2季產品組合趨於正面，帶動毛利率達22.92%， 較第1季提升1.96個百分點，也比去年同期增加1.32個百分點。

• At the same time, Q2 margin reached 22.92%, 1.96% higher than Q1 and 1.32% higher than last year. This improvement comes from better product mix in Q2.

• 雖然第2季營收、毛利率皆顯著較第1季增加，但由於營收仍尚未達經濟規模，加上訴訟、 行銷等一次性費用增加，因此第2季仍處虧損狀態，單季稅後淨損1.35億元，每股虧損 0.47元。

 Even though the revenue and gross margin are both improved than Q1, the Q2 financial result showed a 135M NTD loss, or 0.47 NTD loss per share. This is due to the combination of low revenue income and higher-than-normal expenses; the latter is caused by a one-time legal fee and sales/marketing expense.

CONFIDENTIAL © 2018 FocalTech Systems Co., Ltd. All rights reserved

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Q2 19’Income Statement /108年第2季損益表

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Unit in NT$ Million /單位: 新台幣佰萬元

	19' Q2	19' Q1	QoQ	18' Q2	YoY
Revenue/ 營業收入	2,139	1,640	30%	2,733	-22%
Gross Profit/ 營業毛利	490	344	42%	589	-17%
Gross Margin/ 營業毛利率	22.92%	20.96%	↑196bps	21.6%	↑132bps
OperatingExpense/ 營業費用	638	569	12%	552	16%
OperatingIncome/ 營業淨利	(147)	(225)		37	-497%
Non Operating Income/ 營業外收入	32	30	7%	67	-52%
Profit before Tax/ 稅前淨利	(115)	(195)		104	-211%
Profit after Tax/ 稅後淨利	(135)	(194)		80	-269%
EPS(Basic)/ 每股盈餘(基本)	(0.47)	(0.67)		0.31

CONFIDENTIAL

© 2018 FocalTech Systems Co., Ltd. All rights reserved

5

Q2 19’Balance Sheet / 108年第2季資產負債表

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Unit in NT$ Million /單位: 新台幣佰萬元

	19' Q2	19' Q1	QoQ	18' Q2	YoY
Cash & Market Securities/ 現金及流動金融資產	4,502	4,381	3%	5,633	-20%
Accounts Receivable/ 應收帳款	890	678	31%	1,780	-50%
Inventory/ 存貨	1,982	2,414	-18%	2,152	-8%
Other Current Assets/ 其他流動資產	145	155	-6%	223	-35%
Non Current Asset/ 非流動資產	2,988	3,057	-2%	5,036	-41%
Total Assets/ 資產總計	10,507	10,685	-2%	14,824	-29%
Current Liabilities/ 流動負債	2,512	2,559	-2%	3,474	-28%
Non Current Liabilities/非流動負債	196	192	2%	497	-61%
Owner's Equity/ 股東權益	7,799	7,935	-2%	10,853	-28%
Total Liabilities and Owners' Equity/ 負債與權益	10,507	10,685	-2%	14,824	-29%
Net Worthper share/ 每股淨值	26.99	27.97		36.87
AR Days(Annual Basis)	33	46		56
InventoryDays(Annual Basis)	120	157		87

CONFIDENTIAL

© 2018 FocalTech Systems Co., Ltd. All rights reserved

6

Future Outlook /未來展望(1)

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• 在中美貿易戰衝突升溫下，近期消費性產品市場信心備受打擊，進而影響終端客戶購買意願， 但敦泰仍預期整體第3季營收將較第2季小幅成長。

• The escalation of the trade war between USA and mainland is negatively affecting the consumer market. However, FocalTech is still expecting a low to medium scale QoQ revenue growth in Q3.

• 第3季的成長動將聚焦於IDC及AMOLED相關產品線。其中包括AMOLED觸控及驅動IC產品 線，下半年的出貨量都將成長。

• The growth will primarily come from the IDC products and products relating to AMOLED panels. Both touch controllers and display drivers for AMOLED panels are expected to grow in the 2[nd] half of the year.

CONFIDENTIAL

© 2018 FocalTech Systems Co., Ltd. All rights reserved

7

Future Outlook /未來展望 (2)

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• [] Mux1:6 及 Dual Gate 等具競爭力之新產品的加速推廣，將使敦泰在技術上保持領先地位。 敦泰看好新規格產品將在客戶端被大量導入，如此也將帶領LCD面板產業競爭力向上提升， 跨入全新世代。

 The promotion of next generation IDC products, such as Mux 1:6 and dual gate, will keep FocalTech in the leading position in terms of technology. It is expected that these new products will be widely adopted by customers and elevate the competitiveness of LCD panel industry into the next stage.

• 敦泰在電容式指紋辨識產品的出貨於上半年已達量產規模，預期下半年將持續增加。光學式 指紋辨識產品，將於下半年開始推廣。

• The capacitive fingerprint sensor products have been in MP mode for first half of the year and the shipment volume will continue to increase in the 2[nd] half of the year. The optical type is planned for demonstration in H2.

CONFIDENTIAL

• © 2018 FocalTech Systems Co., Ltd. All rights reserved

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THANKS
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Copyright © 2018 FocalTech Systems Co., Ltd. All Rights Reserved. The information in this document may contain predictive statements including, without limitation, statements regarding the future financial and operating results, future product portfolio, new technology, etc. There are a number of factors that could cause actual results and developments to differ materially from those contained in the predictive statements. Therefore, such information is provided for reference purpose only and constitutes neither an offer nor an acceptance. FocalTech makes no warranties, express, implied or otherwise, regarding the accuracy or completeness of those information. FocalTech may change the information at any time without keeping recipients updated of any information contained in this document.

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