Primax — Earnings Release 2015

May 25, 2015

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Primax Electronics Ltd. (4915 TT)

1Q 2015 Earnings Conference Call

CFO Yi Pin Lee

13 May 2015

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1Q15 Result

Amount_�_NTD M	Q1 15		Q4 14	Q1 14	QoQ	YoY
Net Sales	12,958		13,435	11,603	-3.6%	11.7%
COGSGross Profit	11,526		11,8491,586	10,1781,425
	1,432
Gross Margin	11.1%		11.8%	12.3%	-0.8%	-1.2%
Operating ExpenseOperating Expense %Operating IncomeOperating MarginNon-operating ItemsIncome before TaxIncome Tax	1,059		1,2639.4%3232.4%10242585	9278.0%4974.3%(51)446101	-1.2%15.5%0.5%15.6%
	8.2%					0.2%-24.9%
	373
	2.9%					-1.4%
	118
	492					10.1%
	114
Net Income	378		340	345	11.1%	9.5%
Net MarginNet income attributed to PrimaxEPS (NT$)	2.9%		2.5%3320.76	3.0%3230.75	0.4%	-0.1%
	368
	0.85

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1Q15 Statement of Financial Position

	Selected items from Balance Sheet(Amount�NTD M)CashAccounts receivableInventoryTotal Current AssetsFixed AssetsTotal AssetsAccounts PayableS-T BorrowingsCPLTDTotal Current LiabilitiesL-T BorrowingsTotal LiabilitiesTotal Equity	1Q15	1Q15		Amt%6,26424%7,68229%4,41317%19,27273%3,47913%26,546100%9,68737%2,92611%6002%15,99060%1,2005%17,51466%9,03234%56803814120.566.018.271Q14
		Amt6,86410,2995,53424,2015,016	%
			20%30%16%71%15%
		33,919	100%
		11,7074,20960419,9331,328	35%12%2%59%4%
		21,98411,935	65%35%
	Key IndicesAR Turnover (days)AP Turnover (days)Inventory Turnover (days)Cash Conversion Cycle (days)Current Ratio (%)Total Liabilities -to-Assets Ratio (%)Book Value Per Share (NT$)	63853918121.464.821.64

1Q15 Statement of Cash Flows

	Amount�NTD M	1Q15	1Q143424462951,399(1,973)601(427)(2,474)(142)(2,330)(2)3,57911,8611,720(2)1,447(3)4,7876,230
	From Operation	(1,149)
	- Income before tax- Depreciation and amortization- Notes and Account receivable- Notes and Account payable- Inventory- Other Operating Sources / (Uses)	492340759(1,307)(310)(1,123)
	From Investment	(580)
	- Fixed Assets- Acquisition of Tymphany's 70% shareholding- Other Investing Sources / (Uses)	(540)(39)(1)
	From Financing	1,803
	- Exercise of ESOP- S-T Borrowings- L-T Borrowings- Other Financing Sources / (Uses)	141,754(7)4173(16)6,814
	Net Cash Position ChangeEffect of foreign currency exchange translationCash at beginning of year
	Ending Cash Balance	6,871

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Thank you!

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Safe Harbor Notice

– We have made forward-looking statements in the presentation. Our forward-looking statements contain information regarding, among other things, our financial conditions, future expansion plans and business strategies. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that these expectations and projections are reasonable, such forward-looking statements are inherently subject to risks, uncertainties, and assumptions about us

– We undertake no obligation to publicly update or revise any forwardlooking statements whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in the conference might not occur and our actual results could differ materially from those anticipated in these forwardlooking statements.

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