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PARPRO — Investor Presentation 2016
Jun 22, 2016
52437_rns_2016-06-22_90cb7b15-0de6-4786-89c2-c6b181bb50ce.pdf
Investor Presentation
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Partners in Production and Design
事欣科技
羅來煌 財務長兼發言人 6/23/2016
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June 16 1 | Footer
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事欣科技
WELCOME TO PARPRO
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2 | June 23
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免責聲明
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本文件中所陳述或引用的內容包含預測性資訊。這些訊息係基於未来事件或 PARPRO 公司未來的財務績效。任何說明的內容若未註明係來自於歷史的事實 (包括但不限於公司或其管理層“相信”,“期望”,“預期”,“計劃”(以及 類似表達的影響)均應視為屬預測性資訊。有一些可能導致 PARPRO 的實際结果 與預測性資訊出現重大差異的重要因素。 PARPRO 不承擔更新任何預測性資訊的 任何義務。
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目錄
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PARPRO 事欣科技現況 經營實績 市場拓展機會 策略規劃 財務表現
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4 | June 16
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PARPRO 事欣科技現況
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集團現況說明
• 總部:台灣
• 加州 (2) • 內華達 • 墨西哥
股票代號 美國區總 – 加州 4916:TW Carlsbad
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Partners in Production and Design
ODM Solutions ,提供從設計到製造一條龍的整合服務
創立於 2001 年,以 OEM 業務為基礎,為眾多領域之客戶提供 垂直整合性服務,包括設計及製造等流程
全球員工超過 700 名 創立於 2001 博奕 國防 / 航太 通訊 工業電腦 醫療 未來 3 年之 運輸 營運成長 動能強
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公司沿革
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發展里程碑
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PARPRO 為專業 ODM 廠商,擁有堅實的發展策略及組織架構及穩健的垂直整合能 力,發展領域鎖定國防、航太、博奕及醫療等產業
持續成長
發展沿革
併購 加州 Cal Quality Electronics (PTI) 併購 2017 加州 JumpGen Systems, (PES) 併購 內華達 EMT West 2016 (PNV) IPO 上市 2014 股票代號 併購 TW: 4916 取得墨西哥 AP PARPRO 2013 (PMX) 2013 2012 2001 6 | June 23
事欣科技成立
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集團據點
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各子公司所在地
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PARPRO EMEA
PARPRO Nevada
Sales Office (UK)
Henderson, Nevada ( PEMEA )
( PNV )
Formerly EMT West
PARPRO Technologies
Santa Ana, California
( PTI )
Formerly Cal Quality Electronics
PARPRO Taiwan
PARPRO Technologies
Taipei, Taiwan
Design Center
Carlsbad, California ( PTW )
( PTI ) Formerly JumpGen Systems Formerly Pilot Electronics
PARPRO Mexico
Tijuana, Mexico Formerly AP PARPRO
( PMX )
June 23
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經營團隊
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2016 年 4 月 1 日起
集團決策團隊
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廖文嘉董事長
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Thomas Sparrvik 北美區總經理
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羅來煌財務長
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各事業群領導團隊
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Mike Orozco PARPRO Nevada
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Sunil Kumar Michael Burdick Jorge Richardson Ken Yen PARPRO Technologies PARPRO Technologies PARPRO Mexico PARPRO Taiwan Design Center
Current senior executives in place have significant experience. Their stories/resumes speak for themselves.
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整合效益
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全球 ODM 領導廠商
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One Company - Design, Development, Production 行銷 全球供應鍊 工程研發 後勤幕僚 營運 / 品質 / 認證 • 研發架構 • IT 架構 • 銷售團隊 • 營運架構 • 工程服務 • 財會架構 • CRM • 原物料 • IP 所有權 • ERP/MRP • Rep Strategy • 採購 • 工程研發價值 • 審計 • • 業務機會 配送 • 品牌效益 / 新題材 • 品質 • 認證 • 集團綜效 以績效與價值創造優秀的企業文化 投資價值展現
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研發到製造的全方位服務
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Flight
Control
Medical
Devices
Networking
Mission Critical
Systems Vehicle Tracking
Secure
Smart
Communications
Weapons
Gaming & Inflight
Infotainment Entertainment
Telecom &
Data Center
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我們的利基
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生產
工程
研發設計
博奕 / 工業電腦 / 醫療 / 運輸
通訊與資料儲存 Telecommunications
國防 / 航太
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System Design
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Cable/Wire Harnesses
& Data Storage
- Schematic Capture and PCB Design
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Gaming kiosks, vending machines, player tracking
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Electromechanical Assemblies
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Data Center Switch, Appliances
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Mechanical Design
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Chassis/Enclosures
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Industrial Automation
- Firmware Design
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Storage Array Controllers
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Integration
- Smart Devices
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Deep Packet Inspection, Load Balancing
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Control Systems
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Medical Embedded Systems
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- Transportation Systems
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LOW VOLUME, HIGHER MIX
MID VOLUME, MID MIX
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HIGHER COMPLEXITY
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12 | June 23
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投資亮點
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跨入市場份額大、持續成長中、毛利率更具吸引力的應用市場
與目標產業領域內的各重點客戶群 建立強健的關係
擴大服務範疇與強化生產能量的廣度與深度 顯著的營運成長機會
創造穩健成長的現金流入實力 管理層的豐富歷練
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競爭優勢
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The PARPRO 差異化分析
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營運模式更具彈性 美國背景的工程人員
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EMS 認證 /
全球供應鍊 EXPERTISE OF ALL OR ONE
涵蓋亞洲 / 美囼 業界標準
- ODM Solution Provider
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營運模式更具彈性
- 透過購併,快速取得並整合各子公司間專業的知識,更有助於依據客戶不同的需求,提供跨領域的或各產業內 所需的解決方案
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美國背景的工程人員
- 集團內部即擁有美國背景、 100% 自有的工程研發人員,整合全方位的產品開發能力
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EMS – 涵蓋亞洲及美國
- 採購能力與量產能力快速擴充,更強化生產製造能力
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全球供應鍊
- 結合各地生產資源優勢形成具成本效益的供應鍊並與北美工程研發人員結合,形成全球供貨、生產及配銷
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認證
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Quality Aerospace
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Medical
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Military
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Aerospace
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Aerospace
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市場拓展機會
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Growth Opportunities
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核心市場的發展前展佳
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國防 / 航太
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Connectivity
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Trust & Security
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Unmanned Vehicles & Robotics
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Product Longevity – long term availability
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通訊
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Content Delivery Networks
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Internet of Things/Big Data
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SDN/NFV – Cable & Telecom service providvers, ISVs, Cloud, and CDN Service Providers
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HA Cloud Data Centers
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New support and remote equipment access services
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博奕
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Player Tracking: Player experience – game to player
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Mobile Gaming
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Cloud Infrastructure: online gaming, big data management, video surveillance
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Intelligent Vending Machines: remove inventory management, customer focus and target marketing
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醫療
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Increasing investment in diagnostic technology & software
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Digital Healthcare
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Patient Diagnosis Imaging / Clinical Care
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Digital Hospital: digital patient records, remote healthcare, patient flow
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Home Health
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Rural Healthcare – Emerging markets
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工業電腦 / 運輸
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Control – Inform – Interact
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Electrical vehicles
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成長機會
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終端市場
市場變化情形
2013-18 年複合成長率
-
老年化時代來臨,餘命拉長對醫療需要大幅增加
-
•
-
醫療 • 個人醫療及預防性醫療的需求增加 對先進醫療技術的需求
7.1%
-
國防武器糸統對電子元件的可靠度及功能複雜度的需求增加
-
• 下一世代國防武器的需求
-
國防 • 區域衝突的狀況增加
6.4%
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依據波音及空中巴士的資料,全球商用機自 2009 年起,將長期維持兩位 數的成長力道
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航太 • 新型態商用機的需求浮現,例如廉航,可補足短程及中程的飛行需求 • 若干地區經濟活動掘起,例如亞洲、中國及非洲
6.4%
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全球經濟景氣持續復甦
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自 2008 年後,美國又出現大幅的資本支出
-
工業電腦 • 物聯網、工業 4.0 帶動對經濟活動的需求
6.3%
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(1) 2013 – 2018F Projected Industry CAGR; Source: NVR, 2014
17
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主要客戶
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軍事
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客戶名稱 : General Micro Systems 應用 : Rugged computing systems
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EMS services (PCBA and System build) 2015 Revenue $1.4M, 2016 Estimate $6M, 2017 Forecast $8M Current bookings $1.6M
PCBA build and integration of system build Large new order expected in late 2016 $5M Labor Center: PTI (Engineering request) Certifications Required: ITAR
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主要客戶
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: 航太 飛行控制系統
客戶名稱 : Rogerson Kratos 應用 : Integrated flight control displays
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EMS Services; (PCBA, Cables) Largest program is the Bell 429 helicopter Labor Center: PTI, PMX, PTI-DC
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主要客戶
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: 航太 機上娛樂系統
客戶 : Lumexis 應用 : Passenger Entertainment EMS services (PCBA, system build) Integration of seatback display systems Labor center: PTI, PTW
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主要客戶
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: 工業電腦 執法需求
客戶 : Taser 應用 : Smart Electronic Weapons
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EMS services (PCBA) Body Cam business is growing – potential opportunity Labor center: PTI, PTW
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主要客戶
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博奕
客戶 : Aristocrat
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應用 : Casino Products : 專案 ARC & Gaming Controller
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Contract Manufacturing Supporting North and South American Markets Design, CM, Harnesses, Board Labor centers: PNV, PTW Global Markets
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主要客戶
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博奕
客戶: Scientific Games Inc (Bally’s Technologies, WMS) 應用 : Casino Products : 專案 Gaming Controller & CM
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Contract Manufacturing Electromechanical/Metal MPU Controller Systems CM, Boards, Systems Labor centers: PNV, PTW Global Markets
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23 | June 23
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主要客戶
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醫療
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客戶 : Johnson & Johnson ASP 應用 : Surgical Instrument Sterilization
EMS services (PCBA, system build) PCBA and subassembly builds for medical chamber Long-term customer, over 24 year relationship Labor center: PTI
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發展中業務機會
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運輸
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客戶 : Faraday Future 應用 : Electric Vehicle
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EMS Services; (PCBA and Test) Beta and NPI builds to begin July 2016 Production ramp begins 2017
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Benefit of Benefit – our Story
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一站購足 集團內部一站式的生產優勢及提供各項 ODM 所需的服務能力,能提供客戶端 包括成本節省、時間節省的優勢
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Engineering &
Design Center
Cable
House
Metal
House
Asian SMT
& Contract
Regional SMT
& CM with Manufacturing
Certifications
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下一階段營運佈局
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在未來三年內快速成長
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* Based on existing biz plan projects
$100M
$90M
$75M
$63M
$XXM
ORGANIC GROWTH
Organic growth 15-20% pa growth
2015 2016 2017 2018 2019 ???
B
?
購併
A
$150M
+$45M (A)
+$20M (B)
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Capacity Potential
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現有的生產設施
以現有的生產能量,足可支應營收達到 $2 億美金前所需之軟硬體設施
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事欣架構 簡稱 員工數 在不大幅新增資本投入前可產
生營收數額
PARPRO Technologies Inc 160 $ 8 千萬美金
PTI
PARPRO Embedded Systems 13 $2 千萬美金
PARPRO Nevada PNV 90 $3.5-4 千萬美金
PARPRO Mexico PMX 240 $3 千萬美金
PARPRO Taiwan PTW 150 $5 千萬美金
PARPRO – An ODM Company 653 $2.2 億美金
29 | June 16
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29 | June 16
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未來兩年內佈局
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每年維持 20% 以上成長率 ( 不含其他購併案 ) 擴張歐美以外地區之客戶滲透率 交叉行銷,提昇原有客戶的銷售金額 尋覓適合的 M&A 標的 整合各部門擴大綜效 延攬國際人才
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財務表現
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2015 vs 1Q2016
| vs 1Q2016 | |||
|---|---|---|---|
| NTD in Thousands | |||
| 2015 | 1Q2016 | ||
| 營業收入 | |||
| 營業收入 | 1,457,914 | 375,847 |
|
| 營業成本 | (1,262,606) | (306,099) | |
| 營業毛利 | 195,308 | 69,748 |
|
| 營業費用 | |||
| 銷售費用 | (32,350) | (7,459) | |
| 管理費用 | (135,852) | (32,460) | |
| 研發費用 | (39,007) | (9,683) | |
| 營業費用合計 | (207,209) | (49,602) | |
| 繼續部門營業利益(損失) | (11,901) | 20,146 | |
| 停業部門損益 | |||
| 停業部門損益 | (3,327) | 4,847 | |
| 繼續部門營業利益稅前(損失) | (15,228) | 24,993 | |
| 所得稅費用(利益) | (11,377) | (2,358) | |
| 稅後淨利(損失) | (26,605) | 22,635 |
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財務表現
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2015 年 與 2016 年 1-5 月同期比較
營收變化
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2015 2016
Jan 129,866 101,546
Feb 105,115 107,818
Mar 143,889 159,044
Apr 107,269 205,689
May 90,508 242,193
242,193
205,689
159,044
143,889
129,866
105,115 107,269 101,546 107,818
90,508
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NTD in Thousands
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財務表現
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2016 1-5 月 - YOY
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YOY 年營收成長幅度 2016 816,290
2015 576,647
+40%+
購併前原部門營收成長 2016 年 1-5 月營收較去年同期成長 239,643 仟元 購併帶來之營收成長
2016
[ 值 ] 5,000 8,000
+40% Revenue +60%
$8M
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2016 年 1-5 月營收較去年同期成長達 40% ,且單月營收站穩 2 億台幣以 上,就營收成長結構而言,來自購併前原部門營收成長之幅度佔近 40% ,購併帶來的營收成長幅度約 60%
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財務報表
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2016 第一季營收結構 依地區別及應用領域別
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台灣 , 20 醫療 , 20
博奕 , 35
依地區別 依應用面別
通訊及
資料儲存 , 10
墨西哥 , 20 美國 , 60
國防與航太 , 35
90-95% 的營收來自北美,其他為歐洲
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Thank You
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PARPRO TEAM
The strength of the team is in each individual member… the strength of each member is in the team.
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