IRF — Interim / Quarterly Report 2019

Sep 2, 2019

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Stock Code: 2228.TW/2228 TT

Sep. , 2019

Disclaimer

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• This report and released message contains information about corporate prospects, inancia up f l d ates an d sa es orecasts, esta l f bl is h e d on t h e asis o b f internal resources and external reference sharing. The actual performance may be different from expressed or implied predictions due to uncontrollable and/or unpredictable risks.

• All prospects reflect Iron Force’ s expectations toward the future, and may be subject to change and Iron Force reserves the right to alter, update and change relevant information from time to time without prior notice.

2

Operating overview ： Product mix breakdown

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Revenue break down (%) for Iron Force

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2019 H1
•
OEM and ODM of
customized store 2018
display fixtures 26% 2017
25%
•
Clothes hangers with a
25% •
2016 Airbag inflators and
variety of different
27%
materials precision metal parts for
2015
• 35% automotive safety systems
Complete retail store
•
High precision metal tubes
design 65%
for seatbelt retractor / pre-
73% tensioner systems
75% • Steering columns/shafts
75% and related components
74% for the EPS system
Autoparts
Display
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3

Main Autoparts Products

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Revenue break down (%), Autoparts

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100%
9% 9% 10% 10% 9%
80%
50% 51%
53% 53%
54%
60% Others
EPS
Seabelt
40% Airbag
20% 41% 40%
37% 37%
34%
0%
2015 2016 2017 2018 2019Q2
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4

Main Autoparts Products

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NTD’000
500,000
463,955
442,747
450,000
429,919
423,383
400,000 428,260
390,686
350,000
301,055 312,093
300,000
288,951
Seabelt
250,000
259,713 268,202
258,805
Airbag
200,000
EPS
150,000
Others
91,892
100,000 81,980
73,228
81,866
81,509 62,198
50,000
14,797
-
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2,015 2,016 2,017 2,018 2,019
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5

Performance –

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2014-2019Q2 Income Statement

Currency：NTD’000

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Y2015 Y2016 Y2017 Y2018 Y2019 H1
% % % % %
Gross Sales 3,944,842 100.00% 4,461,014 100.00% 4,325,937 100.00% 4,223,941 100.00% 2,232,944 100.00%
Cost of Goods Sold 2,697,479 68.38% 3,037,565 68.09% 3,061,097 70.76% 3,061,866 72.49% 1,626,172 72.83%
Gross Profit 1,247,363 31.62% 1,423,449 31.91% 1,264,840 29.24% 1,162,075 27.51% 606,772 27.17%
Operating Expense 542,808 13.76% 543,232 12.18% 614,233 14.20% 634,852 15.03% 302,854 13.56%
Operating Profit 704,555 17.86% 880,217 19.73% 650,607 15.04% 527,223 12.48% 303,918 13.61%
Non-Operating Income
119,545 3.03% 49,586 1.11% 132,493 3.06% 177,916 4.21% 71,253 3.19%
(Expense)
Pre-Tax Income 824,100 20.89% 929,803 20.84% 783,100 18.10% 705,139 16.69% 375,171 16.80%
Income Tax 204,057 5.17% 242,112 5.43% 232,940 5.38% 203,042 4.81% 87,251 3.91%
24.76% 26.04% 29.75% 28.79% 23.26%
Net Income 620,043 15.72% 687,691 15.42% 550,160 12.72% 502,097 11.89% 287,920 12.89%
EPS 8.55 9.09 7.26 6.63 3.80
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6

Outlook

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1. 舊品項 ( 被動安全類 ) 、老客戶由原本的汽車零件事業處三個業務團隊、三個工廠 ( 台 灣、大陸、波蘭 ) 來維持。

2. 新產品事業處還是專注在汽車產業，初期先運用目前集團現有廠房：

3. 以本公司金 屬 機加工及生產 管 理技術，研究與 ADAS 相關產品之機構件。 ( 例如 Camera housing)

4. 以本公司金屬機加工、生產管理技術及與客戶長期關係，研究客戶待解決之痛 點。 ( 例如 Thermal solution)

Thermal solution ：

• 1 . IGBT M o d u e: ase p ate l B l 2. Autonomous Driving ECU Cold Plate 3. vapor chamber

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波蘭廠進度

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NTD’000 CapEx ： Land 36 , 000 Building 287,000 Machinery (6 lines+ED) 117,500 Total 440,500

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• 機加工設備9月中下旬到波蘭廠， 準備開始試產。

• ED、廢水處理設備11月中完工。

• 2020年初可開始量產。

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Thank You

Speaker: Terry Lin Email: terrylin@irf.com.tw Website: www.ironforce.com.tw

Disclaimer

This presentation may contain statements that express management‘s expectations about future events or results rather than historical facts. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected forward-looking statements , the company cannot give assurance that such statements will prove correct. For additional information on factors that could cause company’s actual results to differ from expectations reflected in forward-looking statements, please see audited reports filed with the Taiwan Stock Exchange corp.