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FocalTech — Interim / Quarterly Report 2022
Jun 17, 2022
52342_rns_2022-06-17_2a8644fb-b86f-417c-ae90-3289da52bfd7.PDF
Interim / Quarterly Report
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敦泰電子 法人說明會 (3545)
FocalTech Investor Conference
2022/04/26
The world leader in human machine interface solutions
Agenda
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2022 Q1 Result Summary
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Future Outlook
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Q&A
CONFIDENTIAL
© 2021 FocalTech Systems Co., Ltd. All rights reserved
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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。
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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.
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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。
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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.
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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。
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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
© 2021 FocalTech Systems Co., Ltd. All rights reserved
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Q1 22’Income Statement /111年第1季損益表
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Unit: NT$ Million /單位: 新台幣佰萬元
| 22' Q1 | 21' Q4 | QoQ | 21' Q1 | YoY | |
|---|---|---|---|---|---|
| Revenue/ 營業收入 | 3,893 | 5,597 | -30% | 4,350 | -11% |
| Gross Profit/ 營業毛利 | 1,542 | 2,778 | -44% | 1,629 | -5% |
| Gross Margin/ 營業毛利率 | 39.6% | 49.6% | ↓10% | 37.4% | ↑2.2% |
| Operating Expense/ 營業費用 | 869 | 1,029 | -16% | 703 | 24% |
| Operating Income/ 營業淨利 | 673 | 1,749 | -62% | 925 | -27% |
| Non Operating Income/ 營業外收入 | 222 | 70 | 217% | 53 | 319% |
| Profit before Tax/ 稅前淨利 | 895 | 1,819 | -51% | 978 | -8% |
| Profit after Tax/ 稅後淨利 | 723 | 1,333 | -46% | 837 | -14% |
| EPS(Basic)/ 每股盈餘(基本) | 3.57 | 6.51 | 4.24 |
CONFIDENTIAL
© 2021 FocalTech Systems Co., Ltd. All rights reserved
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2022 Q1 Result Summary /111年第1季營運成果
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2022年第1季營收為38.93億元，季減30%及年減11%，主要是受智慧型手機傳統淡季 及手機庫存調整影響。獲利方面，第1季毛利率為39.6%，由於售價轉嫁效應降低及 晶圓代工廠漲價的影響仍未停止，較上一季度衰退10個百分點，但與2021年同期比 較則成長2.2個百分點；稅後淨利7.23億元，比去年同期減少14%，每股盈餘3.57元。 2022’Q1 revenue was NT$3.89 billion, down by 30% quarter-over-quarter and 11% yearover-year, mainly due to smartphone’s traditional low season and inventory correction. Attributed to the continuing increase in wafer cost, 2022’Q1 gross margin was 39.6%, decreased 10 percentage points QoQ but increased 2 percentage points YoY. 2022’Q1 net profit after tax was NT$723 million , down by 14% YoY and EPS was NT$3.57.
CONFIDENTIAL
© 2021 FocalTech Systems Co., Ltd. All rights reserved
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Q1 22’Balance Sheet / 111年第1季資產負債表
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Unit: NT$ Million /單位: 新台幣佰萬元
| 22'Q1 | 21'Q4 | QoQ | 21'Q1 | YoY | |
|---|---|---|---|---|---|
| Cash & Market Securities/ 現金及流動金融資產 | 11,363 | 11,103 | 2% | 7,110 | 60% |
| Accounts Receivable/ 應收帳款 | 2,295 | 3,255 | -29% | 1,823 | 26% |
| Inventory/ 存貨 | 5,819 | 3,822 | 52% | 2,021 | 188% |
| Other Current Assets/ 其他流動資產 | 371 | 536 | -31% | 252 | 47% |
| Non Current Asset/ 非流動資產 | 6,649 | 6,616 | 0% | 2,861 | 132% |
| Total Assets/ 資產總計 | 26,497 | 25,332 | 5% | 14,067 | 88% |
| Current Liabilities/ 流動負債 | 6,565 | 6,415 | 2% | 4,681 | 40% |
| Non Current Liabilities/ 非流動負債 | 5,284 | 5,269 | 0% | 691 | 665% |
| Owner's Equity/ 股東權益 | 14,648 | 13,648 | 7% | 8,695 | 68% |
| Total Liabilities and Owners' Equity/ 負債與權益 | 26,497 | 25,332 | 5% | 14,067 | 88% |
CONFIDENTIAL
© 2021 FocalTech Systems Co., Ltd. All rights reserved
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2021 Cash Dividend/ 110年現金股利發放
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敦泰電子董事會已於2022年4月25日決議通過並公告2021年度股利分配案，將發放 現金股利總額NT$34億元。以2021年稅後淨利約NT$61億元計算，配發率約55.8％， 約當於每股配發現金股利15.7元，依4月25日收盤價格118.5元計算，現金殖利率約 13.3％。
On April 25[th] , FocalTech’s board meeting approved 2021 cash dividend payment of NT$ 3.4bn. Based on 2021 net income of around NT$6.1bn, such cash dividend payout is equivalent to 55.8% payout ratio and cash dividend of appoximately NT$15.7 per share . Based on April 25[th] stock closing price of NT$118.5, the cash yield is 13.3%.
CONFIDENTIAL
© 2021 FocalTech Systems Co., Ltd. All rights reserved
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Future Outlook /未來展望 (I)
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因全球通膨外加俄烏戰爭及近來供應鏈受到疫情的影響，電子產品如手機及NB的 銷售尚未回溫，下游在第二季的拉貨力道應不會太強，但敦泰有與客戶簽訂長期供 貨合約的保障，全年出貨仍會維持在相當水準，只是受手機目前庫存偏高，出貨狀 況有明顯遞延。
On top of the global inflation, Russia-Ukraine war and supply chain disruption caused by COVID-19, further weakened the demand of cellphone and NB. However, because of our LTA with clients, we expect the full-year shipment to remain intact amid the delayed shipping due to the relatively high level of inventory in the channel.
CONFIDENTIAL
© 2021 FocalTech Systems Co., Ltd. All rights reserved
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Future Outlook /未來展望 (II)
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- 因部份產品生產週期較長，生產成本也相對反應的比較慢，故生產成本依然會小幅 增加直到第二季末，預估對整體毛利率影響在可控範圍。
Because the long production cycle of some products, which also reflects the slow rising of production cost, we expect the manufacturing cost will continue to increase until the end of 2022’Q2. Nevertheless, we estimate the gross margin to be within a controllable range.
CONFIDENTIAL
© 2021 FocalTech Systems Co., Ltd. All rights reserved
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Future Outlook /未來展望 (III)
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指紋產品在經過多年的耕耘後，產品已獲得數家大廠的認可，從今年第一季度開始 出貨呈現逆勢增長，預期在2022年應有較好的表現。
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After years of efforts, FocalTech’s Fingerprint solutions have successfully penetrated tier-
1 clients. The shipment of Fingerprint sensor products has been increasing in spite of the slow market. We expect our Fingerprint business to have a more optimistic performance comparing to other cellphone related products in 2022.
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敦泰在車用、工業用、穿戴式裝置、筆記本電腦及帶筆的平板電腦等領域的開發及 推廣都已開始有所進展，預計在未來幾年會逐步開花結果。
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As FocalTech has also been diversifying into different applications such as automotive, industrial, wearable, NB and applications with a stylus pen for years, we expect these new businesses will bear fruits in the following years.
CONFIDENTIAL
© 2021 FocalTech Systems Co., Ltd. All rights reserved
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THANKS
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Copyright © 2021 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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www.focaltech-electronics.com