MERRY — Call Transcript 2019

May 15, 2019

Merry Electronics 2019 First Quarter Earnings Conference

Presented by : Allen Huang Date : Apr. 26, 2019

0

Consolidated Statements of Comprehensive Income (audited)

(NT$ Thousand)

會計項目	1Q2018	4Q2018	1Q2019	QoQ	YoY
Net Revenue	4,359,280	13,389,805	7,631,451	-43.01%	75.06%
Gross Profit	9.30%	14.46%	13.29%	-1.18pp	3.99pp
operating expenses	-452,619	-803,713	-652,011	-18.88%	44.05%
Operating Margin	-1.08%	8.46%	4.74%	-3.72pp	5.82pp
non-operating earnings	-47,238	448,818	166,624	-62.87%	452.73%
Net Income	-71,119	1,230,995	415,911	66.21%	684.81%
Net Profit Margin	-1.63%	9.19%	5.45%	-3.74pp	7.08pp
EPS(NT$)	-0.36	6.24	2.07	NT$ -4.17	NT$ 2.43

1

Proportion of the Product Revenue

Speaker 27%

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Battery 2% Microphone 1% Healthcare 2.5% Others 1.5%

2

(%)

Proportion of the Products Revenue

Headseet

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70%
65% 66%
QoQ: -35%
60% 58% YoY: 76%
■ Gaming
■ TWS 50%
■ Audio 1Q2018 4Q2018 1Q2019
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3

Proportion of the Products Revenue (%)

Speaker

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40%
34%
35%
QoQ: -54%
30%
■ Phone 27% 27% YoY: 72%
■ NB 25%
■ PC
■ Smart Speaker 20%
1Q2018 4Q2018 1Q2019
■ Others
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4

Proportion of the Products Revenue (%)

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Microphone
2.00% QoQ: 15%|YoY: 54%
1.04%
0.91%
1.00%
0.45%
0.00%
1Q2018 4Q2018 1Q2019
Healthcare Battery
6.00% QoQ: -66%|YoY: 14% QoQ: -53%|YoY: 36%
4.17%
4.00%
4.00%
2.79% 2.63%
2.49%
2.17%
2.00% 2.00%
0.29%
0.00% 0.00%
1Q2018 4Q2018 1Q2019 1Q2018 4Q2018 1Q2019
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5

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6