MERRY — Interim / Quarterly Report 2018

Jun 26, 2018

美律實業股份有限公司 2018 年第一季法人說明會

Presented by : Allen Huang

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重點摘要

美律為台灣第一大， 全球前四大電聲設計製造大廠

• 創立背景：1975 年由 廖祿立 / 魏文傑 創立

• 產品：揚聲器、麥克風、免持聽筒、藍芽耳機、電池模組等

• 2017年營收：新台幣 267 億元

• 員工人數： 8,600 人

• 全球佈局：涵蓋亞洲與美洲共 11 個據點

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產品演進

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• 2011-2016

• Hybrid 消噪耳機  微機電麥克風

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1975-1985
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• 近場通訊(NFC)藍芽揚聲器

• 電話用動圈式受話器

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2001-2010
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• 智能家居揚聲器

• 隨身聽耳機用揚聲器

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• Hi-Res Audio耳機

• 無線電對話機用 動圈式麥克風

• 行動電源

• 耳機用麥克風

• 主動消噪耳機

1986-2000

• 藍芽立體聲可攜式音響

• 筆記型電腦用揚聲器

• 手機用微型受話器

• 手機用免持聽筒

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全球據點

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台中 新竹 台北
Taiwan 台灣
深圳 惠州 蘇州 泰國
中國 上海 香港
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功能 企業總部 研發單位 業務單位 製造單位

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泰國 美國
美東
新加坡
美西
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領先的技術

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4

產品介紹

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Speaker
Entertainment
Battery
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5

2018第一季產品別營收比重

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Battery Others
3% 2%
Speaker
28% Entertainment
Handsfree
Entertainment
Speaker
67%
Battery
Others
Handsfree
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1%

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2018 年第一季財務結算數字 ( 經會計師查核 )

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合併損益

(NT$ Thousand)

會計項目	1Q2017	4Q2017	1Q2018	QoQ	YoY
營業收入	4,515,000	10,310,574	4,359,280	-57.72%	-3.45%
毛利率	19.67%	16.10%	9.30%	-6.80ppt	-10.37ppt
營業費用	(394,051)	(772,336)	(452,619)	-41.40%	14.86%
營業利益率	10.94%	8.61%	-1.08%	-9.69ppt	-12.02ppt
業外收支	(97,049)	1,567,958	(47,238)	-103.01%	-51.33%
稅後淨利	319,242	2,147,429	(71,119)	-103.31%	-122.28%
純益率	7.07%	20.83%	-1.63%	-22.46ppt	-8.70ppt
稅後每股盈餘	1.74	11.16	(0.36)	-103.23%	-120.69%

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(%)

產品別營收比重

Entertainment

Speaker

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72% QoQ: -56.10%|YoY: -8.01% 40% QoQ: -68.18%|YoY: 33.00%
70% 35%
68% 70% 30% 35%
66% 67% 25% 28%
64% 20%
62% 15% 20%
60% 62% 10%
58% 5%
56% 0%
1Q2017 4Q2017 1Q2018 1Q2017 4Q2017 1Q2018
Handsfree Battery
2% QoQ: -36.12%|YoY: -55.30% 10% QoQ: -45.50%|YoY: -65.10%
8%
2%
8%
1%
6%
1%
4%
1% 1%
2% 3%
0% 2%
0% 0%
1Q2017 4Q2017 1Q2018 1Q2017 4Q2017 1Q2018
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(%)

-Entertainment 第一季產品別營收比重 Entertainment

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72%
70%
68% 70%
66%
67%
64%
62%
■ Wired/Entertainment 60% 62%
■ Wireless/Entertainment 58%
56%
1Q2017 4Q2017 1Q2018
1Q2017 4Q2017
29% 15%
71%
85%
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QoQ: -56.10%
YoY: -8.01%
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1Q2018

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29%
71%
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(%)

第一季產品別營收比重 -Speaker Speaker

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40%
35%
30% 35%
25% QoQ: -68.18%
28%
YoY: 33.00%
20%
15% 20%
10%
NB&PC/Speaker Box
5%
Mobile/Speaker Box 0%
1Q2017 4Q2017 1Q2018
1Q2017 4Q2017 1Q2018
12% 10% 12%
16%
39%
53%
35%
49%
74%
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■ Other
■ NB&PC/Speaker Box
■ Mobile/Speaker Box
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合併營業毛利率

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24.90%
25.00% 22.90%
20.00%
22.89%
14.26%
15.00%
16.10%
10.00%
9.30%
5.00%
1Q2017 4Q2017 1Q2018
consolidated Suzhou,Huizhou Plant
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合併營業費用

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( NT$ million) YoY:14.86% | QoQ:-41.40%
772
730
630
331
530
453
394
430
330 221
163
340
230
159 167
130
102
72 65
30
1Q2017 4Q2017 1Q2018
銷售費用 管理費用 研發費用 營業費用總金額
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合併營業利益

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( NT$ million) YoY:-109.52% | QoQ:-105.30%
10.94%
1,050 12.00%
900 8.61%
750
6.00%
600
450 888
300 -1.08%
494 0.00%
150
-
47
0
-150 1Q2017 4Q2017 1Q2018 -6.00%
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營業利益 營業利益率

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合併本期淨利

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( NT$ million) YoY:-122.28% | QoQ:-103.31%
2,400 20.83% 25.00%
20.00%
1,900
15.00%
7.07% 10.00%
1,400
-1.63% 5.00%
2,147
900
0.00%
-5.00%
400
319 - -10.00%
71
-100 -15.00%
1Q2017 4Q2017 1Q2018
本期淨利 本期淨利率
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合併每股盈餘

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( NT$ dollar)
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15
11.16
10
5
1.74
0
-0.36
-5
1Q2017 4Q2017 1Q2018
每股盈餘 1.74 11.16 -0.36
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http://www.merry.com.tw/page/investor

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