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MERRY — Investor Presentation 2020
Mar 2, 2020
52085_rns_2020-03-02_d15d19de-db0f-4245-9961-7176577f89e1.pdf
Investor Presentation
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股票代號2439
美律實業股份有限公司 2019第四季法人說明會
Presented by : 黃朝豊 總裁 Date: Mar. 2, 2020
0
投資安全聲明
除簡報內所提供之歷史信息外，簡報事項係屬預測性陳述，受 到風險及不確定性因素影響，可能造成實際結果與陳述內容發 生顯著不符，這些不確定性因素包括：受到競爭性產品及定價 的影響、設計是否及時被客戶接受、新技術是否及時導入利用、 新產品大量量產之能力、產業及市場是否供給過剩、製造產能 可得利用情況、終端市場之財務穩定性及其他風險等。
1
合併損益
| (NT$ Thousand) | (NT$ Thousand) | ||||
|---|---|---|---|---|---|
| 會計項目 | 4Q2018 | 3Q2019 | 4Q2019 | QoQ | YoY |
| 營業收入 | 13,389,805 | 10,101,028 | 8,601,242 | -14.85% | -35.76% |
| 毛利率 | 14.46% | 14.06% | 11.43% | -2.63pp | -3.03pp |
| 營業費用 | -786,679 | -700,060 | -703,864 | 0.54% | -10.53% |
| 營業利益率 | 8.59% | 7.13% | 3.25% | -3.88pp | -5.34pp |
| 業外收支 | 448,818 | 433,673 | 258,930 | -40.29% | -42.31% |
| 稅後淨利 | 1,238,215 | 890,067 | 466,849 | -47.55% | -62.30% |
| 純益率 | 9.25% | 8.81% | 5.43% | -3.38pp | -3.82pp |
| 稅後每股盈餘(元) | 6.32 | 4.34 | 2.27 | -2.07元 | -4.05元 |
*. 2019年第四季加權平均流通在外股數為203,745(仟股)
2
資產負債表及重要財務指標 C ( Q)
| 20181231 | 20190930 | 20191231 | ||||
|---|---|---|---|---|---|---|
| (新台幣仟元) | 金額 | % | 金額 | % | 金額 | % |
| 現金及約當現金 8,512,129 28% 5,312,446 16% 6,589,863 26% |
||||||
| 應收帳款及票據 8,597,990 28% 9,500,828 35% 5,461,766 21% |
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| 存貨 3,074,672 10% 2,245,566 8% 2,117,532 8% |
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| 其他流動資產 1,456,079 5% 949,676 4% 924,316 4% |
||||||
| 採用權益法之投資 3,426,878 11% 3,764,627 14% 3,951,152 15% |
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| 不動產、廠房及設備 1,988,191 7% 2,021,157 8% 2,285,093 9% |
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| 其他非流動資產 3,275,637 11% 4,301,570 16% 4,465,848 17% |
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| 資產總計 30,331,576 100% 26,384,244 100% 25,795,570 100% |
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| 流動負債 16,177,542 53% 11,941,380 42% 8,963,745 35% |
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| 非流動負債 4,074,607 13% 3,871,931 15% 3,833,433 15% |
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| 負債總計 20,252,149 67% 15,068,936 57% 12,797,178 50% |
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| 股東權益總計 10,079,427 33% 11,315,308 43% 12,998,392 50% |
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| 重要財務指標 平均收現日 CQ 56.6 84.3 79.2 平均銷貨日數 CQ 26.7 23.0 26.1 流動比率(倍) 1.3 1.5 1.7 |
3
現金流量表
| (新台幣仟元) | 4Q2018 | 3Q2019 | 4Q2019 |
|---|---|---|---|
| 期初現金 3,742,192 4,178,222 5,312,446 |
|||
| 營運活動之現金流入(出) 1,543,578 1,322,891 3,456,573 |
|||
| 資本支出 -74,340 -109,045 -320,814 |
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| 短期借款增加(減少) -247,541 1,783,284 -2,038,735 |
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| 發放現金股利 0 -1,751,419 0 |
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| 發行公司債 3,015,000 0 0 |
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| 投資與其他 533,240 -111,487 180,393 |
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| 期末現金 8,512,129 5,312,446 6,589,863 |
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| 自由現金流量 1,617,918 1,431,936 3,777,387 |
*. 自由現金流=營運活動之現金流入-資本支出
4
4Q2019產品營收分析
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Battery 1% Healthcare 2.2% Microphone 0.4%
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Speaker 59%
5
(%)
4Q產品營收比重-Headset
Headset
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----- Start of picture text -----
80%
58% 56%
60%
37%
40% QoQ: -44%
YoY: -60%
20%
■ Audio 0%
■ TWS 4Q2018 3Q2019 4Q2019
■ Gaming
4Q2018 3Q2019 4Q2019
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(%)
4Q產品營收比重-Speaker
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----- Start of picture text -----
Speaker
70%
59%
55%
41%
40% 34% QoQ: 23%
■ Non-PC/NB 25% YoY: 11%
■ PC/NB 10%
4Q2018 3Q2019 4Q2019
■ SPK System
4Q2018 3Q2019 4Q2019
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(%)
4Q產品營收比重
Microphone
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----- Start of picture text -----
QoQ: -57%|YoY: -38%
1.00%
0.87%
0.45% 0.44%
0.00%
4Q2018 3Q2019 4Q2019
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Healthcare
Battery
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----- Start of picture text -----
6.00% QoQ: 16%|YoY: -71% QoQ: 99%|YoY: -75%
3.00% 2.64%
4.64%
4.00% 2.00%
2.15% 1.03%
2.00% 1.56% 1.00%
0.43%
0.00%
0.00%
4Q2018 3Q2019 4Q2019
4Q2018 3Q2019 4Q2019
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8
近期重大訊息
-
現金股利(元/股)：7.7095，
-
配發108年度股東現金(股利)總金額1,608,376,434元。
-
代子公司衡新醫療器材(Btm)現金增資總金額130,000仟元。
-
以總金額美元12,240仟元，取得51%股權，與立訊集團合資
赴越南設立新公司。
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2020 1Q 展望
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Q & A
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