SANITAR — Interim / Quarterly Report 2021

Sep 3, 2021

Caesar 2021 Vision

September 3[rd] , 2021

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Legal Disclaimer

• The information is provided for informational purposes only, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security issued by Sanitar or other parties.

• Sanitar’s statements that are only historical and there are not any financial prediction.

• Sanitar does not warranty their accuracy, reliability and completeness. There are a number of factors such as economic conditions, firms abilities, industry environment that could cause actual results and developments. Investors should not place undue reliance on them.

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Contents

• Review of Caesar 2020

• 2021 Sales Plan

• 2021 Product Strategy

• Caesar 2021 Vision

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Review of Caesar 2020

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Company Information

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Headquarters Caesar Sanitary Ware Taiwan
Founded Dec 10, 1985
Number of
1,455
Employees
IPO Oct 24, 2013 (TWSE : 1817)
ISO ISO9001
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Our Global Presence

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Others
Revenue by Region
FYE2020
1%
Taiwan
Vietnam
Revenue by Region
Revenue by Region
FYE2020
FYE2020
63%
36%
35 years 1,400+ NTD 2.30 billion
Brand Legacy Employees Revenue
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Financial Results

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(UNITS: In Thousands of New Taiwan Dollars)

		2021 1H	%	2020 1H	%
Financial Results	Operation Revenue	1,175,999	100	1,066,642	100
	Gross Profit	404,102	34	325,810	30
	Profit from Operations	144,069	12	108,021	10
	Income Before Income Tax	145,182	12	109,210	10
Profitability Ratio	Return on Equity	12.12%		10.54%
	Operating Income to Capital Stock	39.69%		29.76%
	Profit Before Tax to Capital Stock	40.00%		30.09%
	Profit Margin	9.33%		7.96%
	Earnings Per Share	1.52		1.17

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Financial Results

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(UNITS: In Thousands of New Taiwan Dollars)

	Consolidated comprehensive income statements of past five years	Consolidated comprehensive income statements of past five years	Consolidated comprehensive income statements of past five years	Consolidated comprehensive income statements of past five years	Consolidated comprehensive income statements of past five years
	FY2020	FY2019	FY2018	FY2017	FY2016
Operating Revenue	2,306,521	2,334,926	2,293,113	2,269,977	2,222,489
Debt to Total Assets	32.69%	33.02%	25.83%	23.51%	21.12%
Current Ratio	195.51%	180.86%	257.74%	319.64%	345.97%
Quick Ratio	80.12%	92.09%	115.29%	161.97%	203.16%
Return on Equity	12.91%	10.60%	15.35%	16.27%	16.06%
Profit Before Tax to Capital Stock	39.88%	33.82%	49.21%	47.09%	46.67%
EPS	3.04	2.48	3.50	3.58	3.40
Average stock price	31.18	36.92	39.94	39.37	38.44
P/E Ratio	10.26	14.89	11.41	11.00	11.31

*：2013.10.24 IPO

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2021 Sales Plan

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2021 Sales Plan-Taiwan and Vietnam market

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TOTO Taiwan Caesar Taiwan
單位:新台幣Million 單位:新台幣Million
4,500 28% 1,600 20%
19%
4,000 27% 27% 1,400 18% 18%
3,500 16%
1,200
26% 14% 14% 14%
3,000
1,000 12%
2,500 25%
800 10%
2,000 24% 24%
8%
600
1,500
23% 23% 23% 6%
400
1,000 4%
500 22% 200 2%
0 21% 0 0%
FY2017 FY2018 FY2019 FY2020 FY2017 FY2018 FY2019 FY2020
營業收入淨額 營業淨利 營業利益 營業收入淨額 營業淨利 營業利益
TOTO Vietnam Caesar Vietnam
單位:越南盾Billion 單位:越南盾Billion
4,500 25% 1,200 14%
4,000 22%
12%
20% 1,000 12%
3,500 11%
10%
3,000 800
15% 15%
2,500 14% 8%
12% 600
2,000
10% 6% 6% 6%
1,500
400
4%
1,000 5%
500 200 2%
0 0%
0 0%
FY2017 FY2018 FY2019 FY2020
FY2017 FY2018 FY2019 FY2020
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單位:越南盾Billion
4,500 25%
4,000 22%
20%
3,500
3,000
15% 15%
2,500 14%
12%
2,000
10%
1,500
1,000 5%
500
0 0%
FY2017 FY2018 FY2019 FY2020
營業收入淨額 外部顧客收入 營業淨利 營業利益
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營業收入淨額

外部顧客收入

營業淨利 營業利益

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2021 Sales Plan-Taiwan and Vietnam market

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 Taiwan

After-market focus New housing business grow in the positive way.

 Vietnam

Reduction in both sales and profits due to the negative impact of the COVID-19 pandemic.

Others

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Taiwan Vietnam

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 OEM

• USA basin OEM orders Dealers in Asia transformation

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2021 Sales Plan- 2021 sales target

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Caesar Taiwan

UNITS: New Taiwan Dollars

	Jan	Feb	Mar	Apr	May	Jun	Total	YTD
FY2021	132,077,970	85,688,426	148,821,191	128,919,756	128,126,262	133,868,373	757,501,978	46.14%
FY2020	88,840,946	91,637,649	125,811,285	120,288,037	110,982,630	136,886,379	674,446,926	46.45%
YoY	48.67%	-6.49%	18.29%	7.18%	15.45%	-2.20%	12.31%

Caesar Vietnam

	Jan	Feb	Mar	Apr	May	Jun	Total	NTD	YTD
FY2021	94,646,677,635	34,384,751,405	93,952,517,798	94,567,582,352	95,497,603,546	102,578,411,851	515,627,544,587	628,814,079	39.87%
FY2020	57,211,396,608	59,735,106,048	91,877,634,256	106,054,085,488	87,713,581,026	75,878,033,544	478,469,836,970	583,499,801	41.41%
YoY	65.43%	-42.44%	2.26%	-10.83%	8.87%	35.19%	7.77%

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2021 Sales Plan- 2021 sales target

Caesar Taiwan Gross Profit

Q1 Margin Q2 Margin Total Margin FY2021 125,508,030 34.24% 131,910,980 33.74% 257,419,010 33.98% FY2020 94,886,579 30.98% 116,654,426 31.69% 211,541,005 31.37% YoY 32.27% 13.08% 21.69% Caesar Taiwan Gross Profit UNITS: New Taiwan Dollars	Q1 Margin Q2 Margin Total Margin FY2021 125,508,030 34.24% 131,910,980 33.74% 257,419,010 33.98% FY2020 94,886,579 30.98% 116,654,426 31.69% 211,541,005 31.37% YoY 32.27% 13.08% 21.69% Caesar Taiwan Gross Profit UNITS: New Taiwan Dollars	Q1 Margin Q2 Margin Total Margin FY2021 125,508,030 34.24% 131,910,980 33.74% 257,419,010 33.98% FY2020 94,886,579 30.98% 116,654,426 31.69% 211,541,005 31.37% YoY 32.27% 13.08% 21.69% Caesar Taiwan Gross Profit UNITS: New Taiwan Dollars	Q1 Margin Q2 Margin Total Margin FY2021 125,508,030 34.24% 131,910,980 33.74% 257,419,010 33.98% FY2020 94,886,579 30.98% 116,654,426 31.69% 211,541,005 31.37% YoY 32.27% 13.08% 21.69% Caesar Taiwan Gross Profit UNITS: New Taiwan Dollars	Q1 Margin Q2 Margin Total Margin FY2021 125,508,030 34.24% 131,910,980 33.74% 257,419,010 33.98% FY2020 94,886,579 30.98% 116,654,426 31.69% 211,541,005 31.37% YoY 32.27% 13.08% 21.69% Caesar Taiwan Gross Profit UNITS: New Taiwan Dollars	Q1 Margin Q2 Margin Total Margin FY2021 125,508,030 34.24% 131,910,980 33.74% 257,419,010 33.98% FY2020 94,886,579 30.98% 116,654,426 31.69% 211,541,005 31.37% YoY 32.27% 13.08% 21.69% Caesar Taiwan Gross Profit UNITS: New Taiwan Dollars	Q1 Margin Q2 Margin Total Margin FY2021 125,508,030 34.24% 131,910,980 33.74% 257,419,010 33.98% FY2020 94,886,579 30.98% 116,654,426 31.69% 211,541,005 31.37% YoY 32.27% 13.08% 21.69% Caesar Taiwan Gross Profit UNITS: New Taiwan Dollars
	Q1	Margin	Q2	Margin	Total	Margin
FY2021	125,508,030	34.24%	131,910,980	33.74%	257,419,010	33.98%
FY2020	94,886,579	30.98%	116,654,426	31.69%	211,541,005	31.37%
YoY	32.27%		13.08%		21.69%

Caesar Vietnam Gross Profit

UNITS: Vietnamese Dong

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	Q1	Margin	Q2	Margin	Total	Margin
FY2021	58,316,309,360	26.15%	75,728,469,882	25.88%	134,044,779,242	26.00%
FY2020	41,624,899,097	19.93%	61,613,719,405	22.85%	103,238,618,502	21.58%
YoY	40.10%		22.91%		29.84%

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2021 Sales Plan- 2021 sales target

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Caesar Taiwan

產品類別銷售佔比

產品類別銷售金額

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48.82%
50% 49.39% 110年度佔比 109年度佔比
110銷售金額
109銷售金額
40%
30%
20% 15.95%
17.59%
15.26%
12.03%
10% 12.89%
1.96%
9.02%
4.60%
0% 2.70% 7.01%
1.40%
瓷器類
出水類 1.40%
浴缸類
電自動化類
配件類
廚房浴櫃
未分類
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400,000,000
350,000,000
110銷售金額
300,000,000 109銷售金額
250,000,000
200,000,000
150,000,000
100,000,000
50,000,000
-
瓷器類 出水類 浴缸類 電自動化類 配件類 廚房浴櫃 未分類
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2021 Sales Plan- 2021 sales target

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Caesar Vietnam

產品類別銷售金額

產品類別銷售佔比

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300,000,000,000
57.59%
110年度佔比 109年度佔比
60.00%
250,000,000,000
110銷售金額
109銷售金額
200,000,000,000 40.00% 54.30%
23.12%
150,000,000,000
20.00% 3.33%
23.36%
7.12%
3.40% 1.27%
2.78%
1.37%
100,000,000,000
0.00% 2.99%
3.53% 0.94% 6.34% 5.75% 2.77%
50,000,000,000
0
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2021 Sales Plan-Vietnam

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VND 405 billion
Hanoi YTD VND 153 billion
YTD 38%
VND 166 billion
Da Nang YTD VND 54 billion
YTD 33%
VND 425 billion
Ho Chi
YTD VND 161 billion
Minh YTD 40%
Dong Nai
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2021 Product Strategy

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2021 Product Strategy

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Re-define Brand 2021 Product Strategy-

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衛浴產業的小米

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CIUM 2021 Product Strategy-

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時尚簡約

外型統整：全產品造型朝時尚簡約邁進-精簡化+汰除舊款 式，並以系列概念/整體配套為開發主軸

CIUM

創造價值

持續創造產品效益價值：開發成本低、價值高的品項

-好清潔Clean -好安裝Installation -好使用User friendly -好維修Maintenance

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跨業合作

科技環保

CIUM

跨業合作：因應疫情所需，朝科技衛浴發展，研發一系列 長效殺菌廚衛產品

以愛地球的理念為出發，朝環保(節能/綠能)訴求著墨 以提升生活品質為目標，結合科技(電子控制感應)運用發展

C aesar 產品開發朝宜家 I KEA、 U NIQLO、小米 M I看齊， 持續優化，符合 CIUM

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年 度

Ceramics 2021 Product Strategy-

2022

2020-2021

提升總燒成率 【現7583%】 釉面改善 【全瓷器產品已適用】 馬桶管路施釉

年 度 重 大 規 劃

超細釉 【面盆L2365與LF5370 LF5374 LF5376 已適用】

時尚簡約的產品外型【品項精簡化+汰除舊款式】 馬桶高壓注漿生產

2023

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年 度

年 度 重 大 規 劃

Faucets 2021 Product Strategy-

2022

2021

2023

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提升自動化程度 【導入三軸自動加工機, 目標:人均產值提升約3倍】

時尚簡約的產品外型【品項精簡化+汰除舊款式】

• 低鉛龍頭投產規劃 【因應趨勢, 以廚房、面盆為主, 評估設 備產能並增加部分刀夾治具】 抗菌表面處理 【找尋PVD鍍膜協力廠共同協作】 提升全程良率 【導入氬弧焊接，目標: 現70%80%】

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Kitchen & Cabinets 2021 Product Strategy-

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系統
第一階段 浴櫃 第二階段 櫥櫃 第三階段
2019~
收納櫃
2021~ 2022~
2020
發展 發展
發展
目前越南裝潢施工規範及趨勢 於2021提前布局
1.必須每個工項申請施工許可證.(包括廚具)
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目前越南裝潢施工規範及趨勢

• 1.必須每個工項申請施工許可證.(包括廚具)

• 2.目前新成屋趨勢：輕裝修+系統收納櫃

展望2022啟動推廣

消費者心態

• 1.分散個別發包的風險及減少裝修期間瑣碎事務處理

• 2.對於生活品質有一定的要求，並希望居家有設計感、與眾不同

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2021 Product Strategy-Electronic products

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2019~2021Q1 2021~2022Q1 2022Q2~ 公共衛生 廚衛居家(1) 廚衛居家(2) 因應疫情因素，導入提升 公共 異業合作，研究發展長效殺菌 優勢技術之延伸， 形塑產品力 衛生品質 之臭氧殺菌除臭產品 之 氮氧離子殺菌水處理系統 深化科技衛浴定位 1.無耗材、環境無汙染 2.殺死病菌、延長食物保鮮期 3.無色無異味 臭氧小便斗沖水器 廚房水龍頭 洗衣機龍頭 臭氧感應龍頭品項 面盆盥洗水龍頭 淋浴系統 防疫品項整合 免治馬桶座

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Caesar 2021 Vision

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Caesar 2021 Vision

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-以 時尚簡約 的產品概念 持續創新產品與製程
-所有單位全力配合 以 爭取業績 為最高目標 強化既有市場 恢復成長曲線
-改進生產技術與品質管理 增加客戶滿意度
Short-
-產銷協調 提升與客戶的溝通
-提高 工程市場 的市占率
term
-完成 電漿技術 產品開發與上市
Move -具穩定的生產能力與供應鏈
Mid-
-工程市場市佔率提升 4倍 以上
Caesar
-成為客戶信任的品牌 超越國內最大競爭者
term
Ahead -透過 CSR導入 讓公司成為大家喜愛的品牌
Long-
值得尊敬的亞洲十大衛浴品牌公司之一
term
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不走簡單的路，堅持邁向卓越 35年來始終如一