Primax — Interim / Quarterly Report 2017

Sep 5, 2017

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致伸科技 (4915 TT)
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2Q17 財報法說

31 Jul 2017

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2Q17 營運成果
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Record Q2 GP , OI , EPS

,, Amount：NTD M	Q2 17		Q1 17		Q2 16	QoQ YoY 7.4% -7.1% 0.3% 2.4% 0.2% 1.0% 10.9% 39.9% 0.1% 1.4% 15.2% 13.4% 9.8% 14.9% 9.8% 2.9% 0.1% 0.4% 10.4% 3.3%
Net Sales	13,835		12,881		14,900
COGS Gross Profit	12,052		11,266		13,340 1,561
	1,783		1,615
Gross Margin	12.9%		12.5%		10.5%
Operating Expense Operating Expense % Operating Income Operating Margin Non-operating Items Income before Tax Income Tax	1,191		1,082		1,138 7.6% 423 2.8% 176 599 167
	8.6%		8.4% 534
	592
	4.3%		4.1% 56
	88
	680		590 138
	183
Net Income (Loss) from Continuing Operation	497		452		432
Income (Loss) from Discontinued Operations	0		0		50
Net Income	497		452		483
Net Margin Net income attributed to Primax EPS (NT$)	3.6%		3.5% 418 0.95		3.2% 447 1.02
	462
	1.05

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季營收
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Amount ： NTD M

25,000

20,000

15,000

10,000

5,000

0

13,996

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17,221

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19,734

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13,405

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14,900

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18,488

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17,535

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12,881

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13,835

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2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17

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營業毛利、營業毛利率
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Gross Profit

Gross Margin

Amount ： NTD M

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2,400
14.5%
2,193
2,085 2,105
2,100
13.5%
1,845 12.9%
1,783
1,800
12.5%
1,618
12.5%
1,561 12.0%
11.9%
1,500 1,447 1,408
11.5%
1,200
10.7% [10.6% ]
10.5% [10.5% ]
10.3%
10.5%
900
9.5%
600
8.5%
300
0 7.5%
2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17
2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17
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營業淨利、營業淨利率
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Operating Profit

Operating Margin

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Amount ： NTD M
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6.0%
900
842
800
759
5.0%
4.6%
678
700 4.3%
4.2%
3.9%
597 592 3.9%
600 4.0%
3.5%
536
500 3.0% [2.8% ]
423 3.0% 2.7%
398
383
400
300 2.0%
200
1.0%
100
0 0.0%
2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17
2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17
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每股盈餘
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Amount ： NTD

1.28 1.30 1.19 1.15 1.15 1.05 1.10 1.02 0.95 0.91 0.91 0.90 0.70 0.50 0.30 0.10 -0.10 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17

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2017 年第二季資產負債表
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017年第二季資產負債表
Selected items from Balance Sheet (Amount：NTD M) Cash Notes and Accounts receivable Inventory Total Current Assets Fixed Assets Total Assets Notes and Accounts Payable S-T Borrowings CPLTD Total Current Liabilities L-T Borrowings Total Liabilities Total Equity	2017/6/30			2016/6/30
	Amt 5,659 11,345 6,009 23,957 4,444	%		Amt % 5,511 15% 11,487 32% 5,967 16% 27,280 75% 5,107 14%
		17% 34% 18% 72% 13%
	33,159	100%		36,416 100%
	12,637 548 216 19,387 111	38% 2% 1% 58% 0%		12,582 35% 1,808 5% 716 2% 21,486 59% 327 1%
	21,220 11,939	64% 36%		23,770 65% 12,647 35%
Key Indices AR Turnover (days) AP Turnover (days) Inventory Turnover (days) Cash Conversion Cycle (days) Current Ratio (%) Total Liabilities-to-Assets Ratio (%) Return on Equity-Annualized (%)	71 113 47 5 123.6 64.0 16.6%			69 114 42 3 127.0 65.3 16.3%

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2017 年第二季現金流量表
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Amount：NTD M	Q2 17	Q2 16
From Operation	415	(2,152)
Continuing operation income before tax Discontinued operation income before tax - Income before tax - Depreciation and amortization - Notes and Accounts receivable - Notes and Accounts payable - Inventory - Other Operating Sources / (Uses)	1,270 1,270 741 2,744 (4,569) 929 (700)	1,195 135
		1,330 839 2,254 (5,691) 401 (1,285)
From Investment	(1,315)	(193)
- Fixed Assets - Acquisition of subsidiaries' shareholding - Cash from Non-Current Assets Held for Sale - Proceeds from disposal of available-for-sale financial assets - Other Investing Sources / (Uses)	(658) (606) 0 0 (52)	(90) 0 (323) 220 (0)
From Financing	308	346
- S-T Borrowings - L-T Borrowings - Other Financing Sources / (Uses)	548 (274) 35	724 (338) (40)
Net Cash Position Change Effect of foreign currency exchange translation Cash at beginning of year	(592) (108) 6,360	(1,999) (113) 7,623
Ending Cash Balance	5,659	5,511

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3Q17 營運展望
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 雙鏡頭比重大幅提升

 Tymphany 迎接旺季新案量產  營收逐季成長  穩定提升獲利結構

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Thank you!
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Note

 All figures stated above are unaudited and subject to audit amendments  All number has reflected Global Tek restatement

 Record Quarter  Historical Record High

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Safe Harbor Notice
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• 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 forward-looking 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 forward-looking statements.

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