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GLOBAL TEK — Investor Presentation 2019
Apr 19, 2019
52410_rns_2019-04-19_2d572747-f714-4a2b-bde3-1dfb4fa952c1.pdf
Investor Presentation
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Investor Presentation April 2019
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Differentiation &
Collaboration
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Executive Summary
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◆Global Tek manufactures precision-machined metal components for automotive, industrial and aviation applications. We attract and retain our customers through the total value proposition of the services we offer.
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◆We collaborate with OEM and Tier 1 customers worldwide to develop customized components amidst the fuel efficiency trend within the Aviation and Automotive industries. We also target industrial applications with robust growth momentum, including high-end bicycles and food & beverage equipment.
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◆We aim to be our world class customers’ top strategic partner in each niche market, organically expanding our business through the ‘Global Tek Alliance’ – a comprehensive program of vertical integration, horizontal collaboration and supply chain resource management.
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◆We will leverage the Global Tek Alliance to maximize synergies between Global Tek and our supply chain partners while strategically investing in critical proprietary in-house .
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machining capabilities
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◆With excellent employee quality and balanced resource allocation across Asia, we’ll strive to attain annual sales growth higher than industry growth and we are committed to maintain a 50% dividend payout ratio.
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An Emerging Leader in The Precision Machining Industry
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⚫ Founded in 2000 & Listed on the TWSE on February 5th, 2018 (Ticker: 4566 TT) ⚫ Employees: 900+
- ⚫ Founders + management team shareholdings are more than 50%
⚫ Revenue: NT$3.4bn in 2018 with +17% 2014-18 sales CAGR
- ⚫ Our business: Precision metal machining for automotive safety system components, powertrain system components, industrial applications and aviation
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Aviation Industrial Applications
Revenue (NT$mn)
4,000 Power System Components Automotive Safety System Components
100%
3,500 7% 8% 8% 9% 12%
3,000 80% 25% 20% 22%
31%
25%
2,500
60%
2,000 30%
34%
34%
33%
39%
1,500 40%
1,000
20% 42%
33% 35%
500 29% 24%
1,811 2,208 2,676 3,335 3,427
- 0%
2014 2015 2016 2017 2018 2014 2015 2016 2017 2018
Source: TEJ and Global Tek
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Industrial Applications Automotive Safety System Components
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Agenda
01 Target Niche Markets to Fuel Sales Growth
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02 The Global Tek Alliance
03 Our Goals & Execution Plans
04 Robust Financial Performance
05 Appendix
Automotive Safety Systems
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Target Niche Markets to Fuel Sales Growth
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Powertrain System Components
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Solid Revenue Foundation
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Aviation
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Engine Components
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Thrust-reverser Components, Sensor and Linear Components etc.
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Industrial
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Oil & Gas Equipment
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Semiconductor Components
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High-end/Electric Bicycle Parts
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Food & Beverage Equipment
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Automotive
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Safety System Components
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Powertrain System Components
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Asia-Pacific and Small Aircraft to Drive Fleet Growth Through 2037
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⚫ From 2018-37 global commercial passenger aircraft deliveries are expected to double to
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36,563 aircraft per year (4.4% CAGR), reaching a market value of US$5.6 trillion .
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⚫ The Asia Pacific region is expected to account for 43% of the global fleet versus the current 33% while small aircraft are projected to account for nearly 80% of both the global and AsiaPacific fleets.
Airbus Projections for the 2037 Commercial Airline Fleet
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Source: Airbus GMF 2018
Our Aviation Business Opportunity
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⚫ To benefit from the three major trends described below, Global Tek will focus on what big companies don’t want to do and what small companies can’t do.
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⚫ Due to our strong track record, the word-of-mouth effect and competitive QualityCost-Delivery (QCD) , our team has won crucial orders – including LEAP engine oil server & heat exchange system components and Jack Heads for B787 thrust reversers.
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Tier 1 Outsourcing
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Asia Manufacturing
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LEAP Engine Ramp-Up
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OEM cost-reduction initiatives have • Tier 1/2 shifted manufacturing clusters • Commercial airlines focus on fuel created pressure for Tier 1 suppliers: eastward, emphasizing technological efficiency to compete with regional
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• capabilities, quality, cost and delivery low-cost carriers
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Outsourcing increased: 2011-17 OEM capex CAGR was 2% vs. 11% for key suppliers
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Rolls-Royce, Safran, Meggitt and UTC have Manufacturing/MRO facilities in Singapore, Malaysia and China
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Installed on the A320neo and C919, the LEAP engine is the best selling engine in aviation history, and is projected to reach annual production of 2k units by 2020
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Pricing Pressure also increased: OEM gross margins rose while supplier margins have been flat
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Direct material spend in Asia is projected to rise in the next 3~5 years
- LEAP engines rank No.1 in new engine deliveries in Asia-Pacific with a greater than 40% market share
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Global Tek has certified manufacturing facilities in China, Taiwan and Malaysia , as well as a strong track record in aviation component production
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The Result : Tier 1 continue to outsource to Tier 2/3/4 suppliers while reducing supply sources
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Global Tek’s superior QCD capabilities are resulting in increased order volumes
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The Benefit : The Global Tek total solution is attracting more orders from new and existing customers
~~Source: Bloomberg and Global Tek~~
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Our Aviation Strategy Roadmap
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2023 Aviation Sales Target: Double that of 2018 Aviation Sales
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Target 15+% sales contribution
Gaining New
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Tier 2/3 Clients New client certifications and orders
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Expanding “ Global Tek Alliance ” for aviation
Totally enhancing customer value proposition
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New products for existing Aviation supply chain
clients for 5+ year order visibility
Serving Existing 2
Developing Asia-based Total Machining Solutions :
Tier 2/3 Clients
Material shaping, machining, surface treatment,
sub-assembly and post-treatment
1
NADCAP/AS9100 qualifications, 5-axis machining/
Resource
fluorescent inspection capex, recruit talent and
Investment
attain 8-year client certifications
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Targeting Orders for More Key Aviation Components
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: Our current aviation products enhance aircraft operation safety and fuel efficiency ⚫ The thrust reverser Jack Head is a key component in the deceleration system
⚫ Heat exchanger components for LEAP engines help improve fuel economy by 15%.
Based on our strong track record, we are now targeting more engine, actuator & sensor system components
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Primary & Secondary
Flight Control
Components
Interior Components
Auxiliary Power Unit Landing Gear Proximity Switches Thrust Reverser Heat Exchanger
Components Components Components Jack Head Components
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Our Powertrain Products Echo Auto Industry Trends
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Our powertrain products enhance fuel efficiency and are used in enhanced ICE and electrified drivetrain automobiles:
- ⚫ Dual Clutch Transmissions (DCT) improve fuel economy by 5~15%
⚫ Overrunning Alternator Decoupling (OAD) Systems improve fuel economy by 5% ⚫ Crankshaft vibration dampers are used in three-cylinder engines and hybrid cars Government Mandated Fuel Consumption Targets for Passenger Cars
| Liters per 100km | EU | US | China | |
|---|---|---|---|---|
| 2015 | 5.6 | 7.4 | 6.9 |
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| Avg. 5% reduction per year |
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| 2025 | 3-3.4 | 4.7 | 4 | |
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Source: Global Tek
Multiple Niche Markets to Fuel Our Sales Growth
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Automotive Safety Powertrain System Industrial Aviation
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System Components Components Applications • Rising capex at IC Fabs &
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• Average # of airbags per • Emission reduction Oil Refineries • LEAP engine is the car to increase to 5.2 by • Engine downsizing • High end/electric bikes World's Best2020 from 3.5 in 2014. • Increasing clean energy vehicles • F&B Equipment Selling Engine
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• Global Airbag market to • Out of 2023’s 110mn global • Global Semi capex for • Huge new aircraft grow at 4% annually, vehicles, 30% are expected to be ≤ 10nm to grow at a 21% demand reaching US$5bn by 2021 Advanced ICEs (down-sized CAGR from 2020-25 • Global aircraft
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• Includes knee, side, frontal, w/turbo) • WW bicycle mkt to grow volume to grow at a external and curtain • 7% are expected to be clean at a 4% CAGR from 4.4% CAGR between 2018 and 2037
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airbags energy vehicles vs. 5% in 2018 2018-26
We target annual sales growth higher than industry growth
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Source: GIA, IHS, SEMI, Persistence Market Research, Airbus and Boeing
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Our Product Portfolio
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Automotive Safety Powertrain System Industrial Aviation
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System Components components Applications (12% of 2018 sales)
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(24% of 2018 sales) (39% of 2018 sales) (25% of 2018 sales) • •
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Key components, including Hybrid and Three-Cylinder Oil refinery industrial Landing gear parts Airbag igniter, diffuser and Engine Compatible: instruments • Engine accessories
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sealing & inflator • • OAD and basfilter Semiconductor wafer • Flight control actuator
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subassembly • fab instruments Crankshaft damper/pulley components •
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• High-end bicycle • Vacuum pump component Proximity sensor suspension and
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• components DCT: Dual-Clutch transmission systems
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Transmission components
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• Modular camshaft head and tailstock
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Tier 1 Customer Portfolio
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Industrial Applications
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Powertrain System
components
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Automotive Safety
System Components
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Aviation
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Our customers have a 65%+ 65%+
share of the global airbag
market
In-plant integration
In-house capacity
In-plant integration
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Our customers have a 65%+ 65%+ share of the global airbag market
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“All for one, one for all” - Alexandre Dumas, The Three Musketeers
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In-House + In-Plant = Alliance
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Growth Engine #1 : In-House Capability
◆ Targeting complex and critical components
◆ Powertrain and aviation product manufacturing
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- Total Machining Solutions: ➢ Material forming
➢ Precision machining
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➢ Stamping
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➢ Surface treatment
➢ Sub-assembly
- ➢ Functional testing
Growth Engine #2 : In-Plant Integration
◆ Targeting less complex components
◆ Industrial and automotive safety system products
For Strategic Applications: Automotive Industrial Aviation
- Supply chain resource management
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Synergies of the
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Alliance
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Acquiring more In-house capacity
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Tier 1 orders ⚫Key machining processes
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⚫Further penetration of existing clients ⚫New product R&D ✓ Accelerate sales growth
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⚫New niche markets ⚫Yield learning curve
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⚫New applications ✓ Improvement in asset
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Reinvestment in turnover and CCC
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In-plant integration
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core capabilities ⚫Fine tuning process ⚫Mfg. systems alignment ✓ Increase ROE
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capabilities ⚫Resource integration
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⚫Enhance efficiency ⚫Talent and facilities ⚫Economies of scale ⚫RD & QA
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Balanced Deployment of Manufacturing Resources
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In-plant integration In-house capacity
China – Xi’an Factory 9% total sales (2018) 134 employees
China – Wuxi Factory 45% total sales (2018) 434 employees
Taiwan – Xinwu Factory 46% total sales (2018) 354 employees
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Quality system:
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Quality system:
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Quality system: Specialization: Automotive Core processes: Forging / Bar stock CNC machining
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Specialization: Automotive Industrial Aviation
Specialization: Industrial Aviation Core processes: CNC machining
Core processes: Dewaxing casting CNC machining
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Our Goals & Execution Plan
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Industrial Instrumentation
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Global Tek Vision 2023
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Top Line Growth Target Higher Than Industry Growth Target Improve Efficiency, Product Mix 20-25% Gross Margin and and Reduce OPEX Rate 5-10% Operating Margin After CAPEX, Establish Supply Target Chain Campus and M&A 50% Dividend Payout Ratio
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Global Tek Execution Plan
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Learning and growth
Financial Goals
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Dedicated, centralized R&D and Quality Assurance
- Sales Growth: maximize revenue from existing clients & explore niche markets
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Utilize Cross Functional Team
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structure to create a learning organization
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Maintain 3% R&D intensity
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Profitability Improvement : reduce OPEX rate to below 15% by 2023
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Target Higher ROE : increase asset turnover and financial leverage
Capacity Expansion
Customer Acquisition
• In-House :
i) Expand core machining capacity ii) Industry 4.0 + Automation
• In-Plant Integration :
i) Strengthen supply chain partnerships
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Client Focus : large volume with 15%+ gross margin and medium volume with 30%+ gross margin
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New Niche Markets : Service mid-size clients, such as high-end durable goods & medical devices, by complex machining processes
ii) Seek M&A targets in forging, stamping, surface & heat treatment
- Provide Extra Services : from machining & stamping to subassembly
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*Cross Functional Team integrates sales, engineering, manufacturing, quality and logistics
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Winning Formula
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Investment in Superior Human Resources
41% of employees are college graduates, R&D staff are 5% of total work force and 11% of R&D staff have a Master’s degree or above
Replicate In-Plant Supply Chain Cluster in Central Taiwan Build a big campus zone in the Central Taiwan Science Park that will include in-house capacity and which will integrate and share resources with supply chain partners. The project will be completed over the next 3 years.
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Establish a Competitive Framework with Smart Manufacturing (Industry 4.0) We’ll continue to improve accurate quotation, timely sample, production quality and manufacturing efficiency. These are our advantages to form long-term strategic partnerships across global niche markets.
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Build a Defendable Niche in Our Focus Markets
Form strategic partnerships with top-five clients in each niche market and support them with the cross function team structure and agility
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Experienced Leadership Team
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| Name and Position | Function | Years in Industry |
Education/Experience |
|---|---|---|---|
| Donald Huang Chairman and CEO |
Pursue lean spirit and learning organization culture, embed company’s vision and strategy |
40 | ■National Taiwan University EMBA ◼Co-Founder & Associate General Manager of Primax (4915 TT) |
| Jonathan Lo Executive VP |
Xinwu Factory General Manager |
30 | ◼Taiwan Feng Chia University, MS in Mechanical Engineering ◼VP of Snap-On, Zhejiang (SNA US) |
| Ken Liu Auto Group GM |
Wuxi Factory General Manager |
16 | ■Taiwan Chung Yuan Christian University, MS in Biomedical Engineering |
| Yong Yang Director |
Xi’an Factory plant Head |
29 | ■China Xi'an Jiaotong University, BS in Mechanical Engineering |
| Mike Chang Director |
Automotive Division Head | 30 | ■Taiwan Chang Gung University, MBA ■Manager, Global PMX (4551 TT) |
| Ari Chang Director |
Aviation Division Head | 20 | ■Lawrence Technological University, USA MS in Automotive engineering ■Manager of FOX factory,TungPei Industrial |
| David Chan Director |
Industrial Division Head | 20 | ■Imperial College of Medicine, UK MS in Mechanical Engineering ■VP of Lorom Industrial |
| Tim Gau CFO |
Financial Division Head | 30 | ■National Taiwan University EMBA ■University of Rochester MBA ■Experience as CFO in the Bio and IT industries |
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Robust Financial Performance
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Aviation
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2018 Review and 2019 Outlook
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2018 Review
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⚫ Revenue was NT$3.4bn., up 2.8% YoY.
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➢ Automotive safety system sales declined 31% YoY, due to a higher 2017 base (Takata recall-related demand) and due to Takata/KSS order adjustments in 2018.
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➢ Sales from Powertrain Systems, Industrial Applications and Aviation grew 16%, 18% and 53% YoY respectively.
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⚫ Gross margin decreased to 20% from 2017’s 23%, due to NT$ and RMB strength vs the US$, rising raw material prices and changes in product mix.
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⚫ Operating margin decreased to 4% from 2017’s 7%, due to the lower gross margin and set up expenses for the Germany office (future EU sales HQ).
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⚫ Non-op income was NT$170mn, up 287% YoY, due to land assets disposal & FX gain.
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⚫ Net income was NT$218mn, up 10% YoY. EPS was NT$3.33.
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⚫ BoD meeting has approved cash dividend of NT$2.0, implying 60% payout ratio. 2019 Outlook
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⚫ Revenue growth to be driven by strong demand from Industrial and Aviation business units
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⚫ Annual sales growth to be higher than industry growth.
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⚫ Acquisition of Allied Advantage (Malaysia) for NT$170mn to enhance our forging, stamping and machining capabilities.
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⚫ Kick off Phase I construction of supply chain cluster campus in Central Taiwan Science Park
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Financial Highlights
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NT$mn Revenue (NT$million) Net profit after tax (RHS) NT$mn Gross Margin (%) Operating Margin (%)
23.8
4,000 250 25.0 22.8 22.9
3,500 218 20.3 20.1
198 200 20.0
3,000 17.2
2,500 150 15.0
130
2,000
9.6
111 3,335 3,427 100 10.0 8.0
1,500 7.4
2,676
5.6
1,000 2,208 4.2
1,811 50 5.0
1,435 44 2.0
500
8
- 0 0.0
2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018
NT$ EPS ROE (%) (RHS)
Dividend per share Payout (%) (RHS)
NT$
4.0 16.0
14.0 5.0 80
11.6
3.5 12.5 14.0
11.5
3.0 12.0 4.0 70 70
2.5 10.0
3.0
7.1
2.0 8.0
60 60
3.4 3.33
1.5 6.0 2.0
2.4
1.0 2.0 4.0 42 50
0.0 1.0
0.5 0.2 1.0 2.0
0.0 0.0 0.0 40
2013 2014 2015 2016 2017 2018 2016 2017 2018
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Source: TEJ and Capital IQ
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2018 Income Statement
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| NT$mn | 2013 | 2014 | 2015 | 2016 | 2017 | 201~~8~~ | YoY(%) | YoY(%) | YoY(%) | YoY(%) | YoY(%) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2015 | 2016 | 2017 | 2018 | |||||||
| Revenue | 1,435 | 1,811 | 2,208 | 2,676 | 3,335 | 3,427 | 26.3 | 21.9 | 21.2 | 24.6 | 2.7 |
| GrossProfit | 247 | 368 | 502 | 637 | 764 | 688 | 48.8 | 36.6 | 26.9 | 19.9 | -10.0 |
| OperatingExpenses | -218 | -267 | -326 | -379 | -517 | -543 | 22.3 | 22.0 | 16.4 | 36.4 | 4.9 |
| Operating Profit | 29 | 101 | 177 | 258 | 247 | 145 | 248.8 | 75.3 | 46.1 | -4.4 | -41.2 |
| Pretax Income | 38 | 69 | 142 | 205 | 291 | 315 | 84.0 | 104.6 | 44.1 | 41.9 | 8.3 |
| Tax Expenses | -31 | -26 | -31 | -75 | -92 | -97 | -14.5 | 19.6 | 138.2 | 23.4 | 4.8 |
| Net Income to Parent | 8 | 44 | 111 | 130 | 198 | 218 | 476.8 | 150.0 | 17.4 | 52.5 | 10.0 |
| Basic EPS (NT$) | 0.18 | 0.98 | 2.04 | 2.36 | 3.41 | 3.33 | 444.4 | 108.2 | 15.7 | 44.5 | -2.3 |
| Key Financial Ratios (%) | |||||||||||
| GrossMargin | 17.2 | 20.3 | 22.8 | 23.8 | 22.9 | 20.1 | |||||
| OperatingExpenseRatio | 15.2 | 14.7 | 14.8 | 14.2 | 15.5 | 15.8 | |||||
| OperatingMargin | 2.0 | 5.6 | 8.0 | 9.6 | 7.4 | 4.2 | |||||
| EffectTax Rate | 81.3 | 37.8 | 22.1 | 36.5 | 31.8 | 30.7 | |||||
| Net Margin | 0.5 | 2.4 | 5.0 | 4.9 | 5.9 | 6.4 |
Source: TEJ and Capital IQ
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2018 Balance Sheet
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| NT$mn | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | YoY(%) | YoY(%) | YoY(%) | YoY(%) | YoY(%) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| **2014 ** | **2015 ** | 2016 | 2017 | 2018 | |||||||
| Total Assets | 1,745 | 2,208 | 2,422 | 3,002 | 4,052 | 4,478 | 26.5 | 9.7 | 24.0 | 35.0 | 10.5 |
| Cash | 103 | 200 | 279 | 502 | 670 | 902 | 93.8 | 39.6 | 80.4 | 33.4 | 34.7 |
| AR&NR | 434 | 616 | 606 | 732 | 936 | 902 | 41.9 | -1.6 | 20.8 | 28.0 | -3.7 |
| Inventories | 290 | 384 | 426 | 484 | 714 | 897 | 32.4 | 11.1 | 13.5 | 47.5 | 25.7 |
| FixedAssets | 811 | 739 | 820 | 800 | 844 | 856 | -9.0 | 11.0 | -2.4 | 5.5 | 1.5 |
| Total Liabilities | 1,176 | 1,528 | 1,335 | **1,837 ** | 2,395 | 2,374 | **30.0 ** | -12.6 | 37.6 | 30.4 | -0.9 |
| AP&NP | 371 | 412 | 389 | 733 | 692 | 633 | 11.0 | -5.6 | 88.4 | -5.6 | -8.5 |
| Total Equity | 569 | 680 | 1,087 | 1,166 | 1,658 | 2,104 | 19.4 | 59.9 | 7.3 | 42.2 | 26.9 |
| Key Financial Ratios | |||||||||||
| A/R Turnover Days | - | 104.3 | 99.6 | 90.0 | 90.0 | 96.6 | |||||
| InventoryTurnover Days | - | 84.0 | 85.5 | 80.4 | 83.8 | 105.9 | |||||
| A/P Turnover Days | - | 97.7 | 84.5 | 99.1 | 99.7 | 87.1 | |||||
| Cash ConversionDays | - | 90.6 | 100.5 | 71.3 | 74.1 | 115.4 | |||||
| ROE(%) | - | 7.1 | 12.5 | 11.5 | 14.0 | 11.6 | |||||
| ROA (%) | - | 2.2 | 4.8 | 4.8 | 5.6 | 5.1 |
Source: TEJ and Capital IQ
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Disclaimer
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The information contained in this confidential document ("Presentation") has been prepared by Global Tek (the "Company"). It has not been fully verified and is subject to material updating, revision and further amendment.
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While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers gives, has given or has authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision or supplement thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers takes any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness or injury of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation or the information.
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Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved by the Company to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentation which may become apparent.
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This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in relation to such matters.
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This Presentation includes certain statements that may be deemed “forward-looking statements”. All statements in this discussion, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, general economic, market or business conditions and other unforeseen events. Prospective Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward-looking statements.
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Appendix
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Superior Track Record of Client Satisfaction
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| Group Annual | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Best Supplier Award 2001-2008 |
Supplier Award for 10 straight years 2002-2012 |
Best Supplier Award 2009-2010 |
Outstanding Supplier Award 2009 |
Annual Performance Supplier Award 2011 |
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| Annual Merit | Outstanding | Approved as a | Best Supplier, | Best Supplier, | ||||||
| Supplier Award | Quality Award | Supplier of | Drive | Drive | ||||||
| 2012 | 2012 | Control Systems | Line Systems | Line Systems | ||||||
| 2012 | 2013 | 2013 | ||||||||
| Annual International Excellent Service Award |
Outstanding Supplier Award 2013 |
Outstanding Progress Award 2015 |
Outstanding Cooperation Award 2015 |
Outstanding Quality Award 2016 |
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| 2013 | ||||||||||
The Global Tek Collaboration Model
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Resources provided by supply chain partners
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Plant facilities & machining expertise
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Forging, stamping, deep drawing, surface and heat treatment capabilities
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Facilitated by Global Tek
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• Lean manufacturing management
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Quality Assurance system alignment (IATF 16949/AS 9100)
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Supply chain resource management: leverage capabilities of small & mid-sized machine shops
Global Tek Core Competency
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Value Engineering
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Investment in key equipment, R&D and Quality Assurance
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Strategic partnerships with global Tier 1 OEMs
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Accumulate industry and customer certifications
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Industry 4.0 model shop and R&D
Global Tek is leveraging the cluster of advanced machining providers
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Global Tek Milestones
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2000 - Established Xinwu factory in Taiwan.
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2001 - Established Wuxi factory in China.
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2002 - Obtained BSI QS9000.
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2004 - Received the international automotive quality certification TS16949.
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2004 - Promoted lean production management.
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2005 - Established Xi'an factory in China, focusing on industrial instrumentation. Passed AS9100 aviation certification.
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China Steel and Primax Electronics both become our shareholders.
• Opportunities for new products arise • Gradual increase in both profits and revenue
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The company is listed on Taiwan OTC stock market
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• Revenue record of nearly NT$3.3bn.
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In house NADCAP certified FPI line.
• 2008 - We were recommended by the Ministry of Economic Affaires as a SME, and we were the topic of an episode of the TV show New Money which focused on cluster activities.
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Global Tek went public with ticker: 4566
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Revenue record of nearly NT$2.3bn.
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The company is listed on the TWSE.
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Global Tek Fabrication was founded.
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Allied Advantage (AA) Profile and Milestones
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➢ 2017/18 revenue was US$14mn, and came mainly from:
1. Metal Cold Forging
➢ Industry Specializations:
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Home Entertainment
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Automotive industry
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Progressive Cold Forging
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Stamping
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Progressive Stamping
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Machining (CNC, NC etc.)
2004-08
- 2004: Achieved ISO/TS 16949:2002 QMS Certification
1996
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Moved to Sungai
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1983 Petani, Malaysia; • 2008: Achieved ISO 14001:2004
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renamed “Allied
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• Founded in Taiwan EMS Certification Advantage Sdn Bhd”
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Founded in Taiwan as “Audio Yoke Co. Ltd.”
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Mass Production in March
2010
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Sony Green
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Partner
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Certification
2015-17
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2015: Renewal of ISO/TS 16949:2009 Certification
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2016: Renewal of Sony Green Partner Certification
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2017: Upgraded to ISO 14001:2015 Certification
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