SFC — Investor Presentation 2019

Nov 20, 2019

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佳格食品 2019 年 法人說明會

Standard Foods Corporation 2019 Results

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佳格食品 2019 年 法人說明會

Standard Foods Corporation 2019 Results

Disclaimer 免責聲明

本簡報合併財務數字係根據國際財務報導準則編製，並經由會計師查核簽證。 The consolidated financial numbers are based on International Financial Reporting Standards (IFRS) and also audited by CPA .

本簡報內容非經由本公司書面許可，任何第三者不得任意取用或複製。 This presentation and its contents may not be reproduced to a third party without the prior written consent of the Company .

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佳格食品 2019 年 法人說明會 Standard Foods Corporation 2019 Results

公司簡介 Company Introduction

佳格食品股份有限公司成立於1986年6月6日，並於1994年4月9日在臺灣證券交易所掛牌上市，佳 格公司致力追求好營養並落實食品品質及安全管理作業，三十多年來始終如一，期許成為消費者 最信賴的食品公司。

Standard Foods Corporation founded on June 6, 1986 and became publicly listed on April 9, 1994 on the Taiwan Stock Exchange. Over the 30 years, we continue to strive to be the “Leader in Nutrition＂ and implement food quality and safety management to be the most trusted food company.

主要品牌 Main Brands

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Standard Foods Group
Standard Dairy Standard Foods Standard Foods
Products (China)
福 樂 桂 格 得意的一天 天地合補 （代理） （代理） （代理） 多力
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2019年Q3 YTD營運報告 2019 Q3 YTD Operation results

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佳格食品 2019 年 法人說明會 Standard Foods Corporation 2019 Results

合併簡明損益表 (Condensed Consolidated Income Statement )

單位: 新台幣百萬元, 除每股盈餘以外。 (Unit: NT millions, except earnings per share)

年度(Fiscal year) 項目(Item)	2019Q3 YTD	2019Q3 YTD	2019Q3 YTD	2018Q3 YTD	2018Q3 YTD	2018Y	2018Y	2017Y	2017Y
	金額	%	YOY(%)	金額	%	金額	%	金額	%
營業收入 (Operating revenue)	21,405	100%	10%	19,494	100%	27,341	100%	26,478	100%
營業毛利 (Gross profit)	6,730	32%	12%	5,986	31%	8,254	30%	7,400	28%
營業淨利 (Operating income)	3,051	14%	39%	2,187	11%	3,150	12%	2,795	11%
本期淨利 (Net income)	2,466	11%	13%	2,180	11%	2,968	11%	2,210	9%
每股盈餘 (備註) (Earnings per share) (Note)	2.69			2.40		3.25		2.39

備註: 每股盈餘係按盈餘轉增資比例追溯調整後之加權平均股數計算。 Note: Earnings per share is calculated in accordance with the weighted average shares after the retrospective adjustment proportionally to the capitalized earnings.

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佳格食品 2019 年 法人說明會 Standard Foods Corporation 2019 Results

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合併簡明現金流量表 (Condensed Consolidated Statement of Cash Flows)

單位:新台幣百萬元

(Unit: NT millions )

年度(Fiscal year) 項目(Item)	2019Q3 YTD	2018Y	2019Q3 YTD VS 2018Y	2017Y
營業活動之淨現金流入(出) ( Net cash generated from operating activities )	4,389	2,639	1,750	2,542
投資活動之淨現金流入(出) ( Net cash generated from ( used in ) investing activities )	(865)	(560)	(305)	(1,035)
籌資活動之淨現金流入(出) ( Net cash generated from ( used in ) financing activities )	(3,172)	(2,478)	(694)	(479)

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佳格食品 2019 年 法人說明會 Standard Foods Corporation 2019 Results

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合併簡明資產負債表 (Condensed Consolidated Balance Sheet)

單位: 新台幣百萬元

(Unit: NT millions )

年度(Fiscal year) 項目(Item)	2019/9/30	2018/12/31	2019/9/30 VS 2018/12/31	2017/12/31
資產總計 (Total assets)	23,529	23,998	(469)	22,709
現金及約當現金 (Cash and cash equivalents)	2,897	2,590	307	3,153
應收帳款淨額 (Accounts and notes receivable-net)	5,679	6,161	(482)	5,079
存貨 (Inventories,net)	3,832	4,199	(367)	4,558
不動產、廠房及設備 (Property, plant and equipment)	5,250	5,478	(228)	5,676
負債總計 (Total liabilities)	7,390	7,957	(567)	7,686
流動負債 (Current liabilities)	6,623	7,511	(888)	7,137
非流動負債 (Non-current liabilities)	767	446	321	549
股東權益 (Total equity)	16,139	16,040	99	15,024

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佳格食品 2019 年 法人說明會 Standard Foods Corporation 2019 Results

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重要財務指標 (Key Financial Indexes)

年度(Fiscal year) 項目(Item)	2019Q3 YTD	2018Q3 YTD	2018Y	2017Y
流動比率(%) (Current ratio)(%)	248.2	232.7	227.8	217.1
速動比率(%) (Quick ratio)(%)	172.4	149.3	150.1	129.5
存貨週轉率(次) (Inventory turnover)(times)	4.9	4.1	4.4	4.3
平均銷貨日數 (Average inventory turnover)(days) (天)	74.9	88.8	83.7	84.7
應收帳款週轉率(次) (Accounts receivable turnover)(times)	4.8	5.1	4.9	5.1
平均收現日數(天) (Average collection)(days)	75.7	72.3	75.1	71.4
資產報酬率(%) (Return of assets)(%)	14.0	13.2	13.0	10.2

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佳格食品 2019 年 法人說明會 Standard Foods Corporation 2019 Results

部門別資訊 (Operating Segment Information) 2019Q3 YTD / 2018Q3 YTD / 2017Q3 YTD / 2018Y

收入佔比 (% of total operating revenue)

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2019Q3 YTD 2018Q3 YTD 2017Q3 YTD 2018Y
8% 5% 8% 7%
39%
40% 40% 38%
43% 45% 44%
44%
10% 10%
9% 10%
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佳格部門 Standard Foods Segment 佳乳部門 Standard Dairy Products Segment

中國佳格部門 Standard Foods (China) Segment 其他 Others

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佳格食品 2019 年 法人說明會 Standard Foods Corporation 2019 Results

部門別資訊 (Operating Segment Information) 2019Q3 YTD / 2018Q3 YTD / 2017Q3 YTD / 2018Y

收入 ( Income )

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15000 15000 15000
12,171
12000 12000 12000
10,682
9,115
9000 8,529 9000 9000 8,478 8,696
7,831
7,456
6000 6000 6000
2,616
3000 3000 1,885 1,994 2,018 3000
0 0 0
2017Q3 2018Q3 2019Q3 2017Q3 2018Q3 2019Q3 2017Q3 2018Q3 2019Q3
2018Y 2018Y 2018Y
YTD YTD YTD YTD YTD YTD YTD YTD YTD
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佳格部門 Standard Foods Segment 中國佳格部門 Standard Foods (China) Segment 佳乳部門 Standard Dairy Products Segment

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佳格食品 2019 年 法人說明會 Standard Foods Corporation 2019 Results

部門別資訊 (Operating Segment Information) 2019Q3 YTD / 2018Q3 YTD / 2017Q3 YTD / 2018Y

稅前損益佔比 (% of total net income before income tax)

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2019Q3 YTD 2018Q3 YTD 2017Q3 YTD 2018Y
-1% 1% 0%
1%
5% -8% 10%
16%
15%
15%
23%
13%
84% 75%
70% 81%
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佳格部門 Standard Foods Segment 佳乳部門 Standard Dairy Products Segment

中國佳格部門 Standard Foods (China) Segment 其他 Others

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佳格食品 2019 年 法人說明會 Standard Foods Corporation 2019 Results

部門別資訊 (Operating Segment Information) 2019Q3 YTD / 2018Q3 YTD / 2017Q3 YTD / 2018Y

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稅前損益
( NIBT )
2,769
2500 2500 2500
2,256
2,150
2000 2000 2000
1,628
1500 1500 1500
1000 1000 1000
543
517
452
427
500 500 399 500 361
142
-153
0 0 0
-500 -500 -500
2017Q3 2018Q3 2019Q3 2017Q3 2018Q3 2019Q3 2017Q3 2018Q3 2019Q3
2018Y 2018Y 2018Y
YTD YTD YTD YTD YTD YTD YTD YTD YTD
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佳格部門 Standard Foods Segment 中國佳格部門 Standard Foods (China) Segment 佳乳部門 Standard Dairy Products Segment

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佳格食品 2019 年 法人說明會 Standard Foods Corporation 2019 Results

各品類營收佔比 (% of Total Revenue by Category) 2019Q3 YTD / 2018Q3 YTD / 2017Q3 YTD / 2018Y

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2019Q3 YTD 2018Q3 YTD 2017Q3 YTD 2018Y
8% 8%
12% 8% 7% 9% 11% 9%
11%
10%
10% 11%
8%
8%
8% 8%
47% 14%
14%
15% 51% 12% 50% 51%
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穀類 Oats

油（家庭廚房） Edible Oils and Condiment 補品（含完膳） Tonic Drinks and Nutritional Foods

奶粉 Milk Powder 冷藏 Dairy Products and Drinks 其他 Others

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未來展望 佳格食品網址: https://www.sfworldwide.com/

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Q & A

Standard Foods Corporation 2019 Results