Primax — Interim / Quarterly Report 2017

Jun 12, 2017

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Primax Electronics (4915 TT)
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1Q17 Earnings Conference

28 Apr 2017

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1Q17 營運成果
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Record Q1 GP , OI , EPS; Well-managed FX

Amount：NTD M	Q1 17	Q4 16		Q1 16	QoQ YoY
Net Sales	12,881	17,535		13,405	-26.5% -3.9%
COGS Gross Profit	11,266	15,430 2,105		11,997 1,408
	1,615
Gross Margin	12.5%	12.0%		10.5%	0.5% 2.0%
Operating Expense Operating Expense % Operating Income Operating Margin Non-operating Items Income before Tax Income Tax	1,082	1,394 8.0% 711 4.1% 62 773 196		1,011 7.5% 398 3.0% 198 596 201	0.4% 0.9% -24.9% 34.2% 0.1% 1.2% -23.7% -0.9%
	8.4% 534
	4.1% 56
	590 138
Net Income (Loss) from Continuing Operations	452	577		395	-21.6% 14.6%
Income (Loss) from Discontinued Operations	0	(84)		46
Net Income	452	493		440	-8.2% 2.8%
Net Margin Net income attributed to Primax EPS (NT$)	3.5% 418 0.95	2.8% 525 1.19		3.3% 401 0.91	0.7% 0.2% -20.2% 4.4%

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季營收
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Amount ： NTD M

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25,000
19,734
20,000
18,488
17,221 17,535
14,900
15,000
13,996
13,405
12,881
12,588
10,000
5,000 1 2 3
0
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
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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%
2,085 2,193
2,105
2,100
13.5%
1,845
1,800 12.5%
12.0%
1,561 1,618 12.5%
11.9%
1,500 1,447
1,408
1,367
11.5%
10.9% 10.7%
1,200
10.6% 10.5% 10.5%
10.3%
10.5%
900
9.5%
600
8.5%
300
0 7.5%
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
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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
4.6%
5.0%
700 678 3.9%
597 4.2%
3.9%
600 4.0%
536 3.5%
500 2.7% 3.0%
2.9%
383 423 3.0% 2.8%
398
368
400
300 2.0%
200
1.0%
100
0 0.0%
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
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每股盈餘
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Amount ： NTD

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1.28
1.30
1.19
1.15 1.15
1.10
1.02
0.95
0.91 0.91
0.90 0.85
0.70
0.50
0.30
0.10
-0.10 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17
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2017 年第一季資產負債表
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Selected items from Balance Sheet (Amount：NTD M) Cash Notes and Accounts receivable Inventory Total Current Assets Fixed Assets	2017/3/31	2017/3/31		2016/3/31 Amt % 5,666 16% 11,099 32% 5,995 17% 23,824 68% 6,400 18% 35,059 100% 11,340 32% 2,875 8% 809 2% 19,322 55% 574 2% 21,778 62% 13,281 38% 69 113 44 0 123.3 62.1
	Amt 4,884 10,121 5,397 21,176 4,370	%		Amt 5,666 11,099 5,995 23,824 6,400
		16% 34% 18% 70% 15%
Total Assets	30,111	100%		35,059
Notes and Accounts Payable S-T Borrowings CPLTD Total Current Liabilities L-T Borrowings	11,267 0 216 15,962 111	37% 0% 1% 53% 0%		11,340 2,875 809 19,322 574
Total Liabilities	17,843	59%		21,778
Total Equity	12,267	41%		13,281
Key Indices AR Turnover (days) AP Turnover (days) Inventory Turnover (days) Cash Conversion Cycle (days) Current Ratio (%) Total Liabilities-to-Assets Ratio (%)	72 118 46 0 132.7 59.3			69 113 44 0 123.3 62.1

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2017 年第一季現金流量表
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Amount：NTD M	Q1 17	Q1 16
From Operation	(699)	(3,026)
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)	590 0 590 371 3,536 (5,626) 1,172 (742)	596 64
		659 423 3,313 (7,384) 1,043 (1,080)
From Investment	(337)	(126)
- Fixed Assets - Other Investing Sources / (Uses)	(300) (37)	(126) (0)
From Financing	(250)	1,245
- S-T Borrowings - L-T Borrowings - Other Financing Sources / (Uses)	0 (274) 24	1,525 (295) 15
Net Cash Position Change Effect of foreign currency exchange translation Cash at beginning of year	(1,286) (190) 6,360	(1,907) (50) 7,623
Ending Cash Balance	4,884	5,666

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2Q17 營運展望
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營收穩健

提升獲利結構 各部門產品組合優化 雙鏡頭比重大幅提升  Tymphany 展望樂觀 持續提升企業社會責任 , 公司治理評鑑達前 5%

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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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