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SINBON Electronics — Interim / Quarterly Report 2016
Dec 14, 2016
52256_rns_2016-12-14_98f069fc-0aeb-45bf-9e42-1f4197eec5e9.pdf
Interim / Quarterly Report
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SINBON 2016Q3 Results & Prospects
Prepared By Finance Department 2016/11/17
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Safe Har
This prese
and is sub
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bor Notice
ntation contains forward looking statements
ect to significant risks and uncertainties.
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.
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SINBON Briefing Year to Date Performance Financial Records Business Outlook
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SINBON Briefing
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.
Who We Are
Founded in 1989, we are a solution provider of electronic integration, covering component design, manufacturing, distribution services as well as wireless component.
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Founding year: 1989
Legal status: Listed on Taiwan Stock
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.
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Business Coverage
Field
Industrial
Automot vei Commun cat oni i Green nergyE Medical Hea tl h App icationl
Cable
Assembly
PCB
Assembly
Sub-unit /
Box Build
Connectors/
Components
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Notes: Components refer to HRS connector, Crystal & O s cillator, GPS A.T., Hinge. Passive C.P., SIM Switch IC., GPS C.P., Zener Diode, Cable chute, Compatible connector, etc.
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Product Application
MAGIC to iMAGIC
Medical Equipment Automotive Electronics Wind Energy Industrial Control Mobile Device Aesthetic Medicine Electric Vehicle Solar Energy Transportation Digital Home Leisure Car Rear View System LED Lighting Data Capture RF Applications Telemedicine Solar Solutions Automation Wearable Devices High Precision Machine Tablet Scanner PC Robot
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Turnkey Service
PCB Assembly Quality Engineering
Connector
Customization Service Cable
Box-Build
Components
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Major Customers
Medical Health Automotive Green Energy - Industrial Application Communication
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Global Service Network
Sales / Marketing Offices Manufacturing Sites Sourcing R&D Offices Hubs Sites - Nagoya , Japan - Taipei , Taiwan(HQO) - Miaoli , Taiwan - Taipei , Taiwan - Taipei , Taiwan -Seattle , USA -Nashville, USA -Incheon, Korea -Beijing, China -Beijing, China -Beijing, China -Beijing, China -Orlando, USA -Seattle, USA -Qingdao, China -Jiangyin, China -Jiangyin, China -Jiangyin, China - Ohio, USA -New York, USA -Jiangyin, China -Tongcheng, China -Tongcheng, China -Tongcheng, China - - Tatabánya, Hungary -Chicago, USA -Shanghai, China Ohio, USA -Nagoya, Japan - - Stare Mesto, -Nashville, USA -Tongcheng, China Tatabánya, Hungary -New York, USA Czech -Manchester, UK -Shenzhen, China - Mexico (in proces s ) -Manchester, UK - Stare Mesto, Czech -Xiamen, China -Almere, Netherlands - Munich, Germany -Wuhan, China
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International Cooperation
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USA
USA Factory
Circuits & Cables, Inc.
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Hungary
Europe Factory SINBON Elcotronic GmbH
Taiwan
Taiw a n Factory for A v iation Ray Service ADA
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Manufacturing Site
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Beijing
Cable PCBA
Jiangyin
Cable PCBA
Miaoli Beijing Tongcheng
Cable
Jiangyin plant I Jiangyin plant II Jiangyin raw cable Miaoli Cable PCBA
plant
Tongcheng
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Year To Date Performance
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Year To Date Performance
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.
Monthly Consolidated Revenue
NTD K
| NTD K | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2016 | 2015 | 2014 | ||||||||||||||||||||
| Jan | 1,237,837 | 1,042,379 | 900,690 | |||||||||||||||||||
| Feb | 1,010,416 | 911,258 | 890,092 | 1,400,000 | ||||||||||||||||||
| Mar | 1,118,070 | 1,053,172 | 953,343 | |||||||||||||||||||
| Apr | 1,142,696 | 1,073,415 | 991,292 | 1,200,000 | ||||||||||||||||||
| May | 1,156,504 | 1,032,846 | 1,010,481 | 1,000,000 | ||||||||||||||||||
| Jun | 1,167,868 | 1,034,087 | 1,016,112 | 800,000 | ||||||||||||||||||
| Jul | 1,069,748 | 1,055,491 | 1,018,059 | 600,000 | ||||||||||||||||||
| Aug Sep |
1,088,207 1,102,747 |
1,083,968 1,085,092 |
982,600 996,911 |
400,000 | ||||||||||||||||||
| Oct | 1,047,481 | 1,018,131 | 972,004 | 200,000 | ||||||||||||||||||
| Nov | 963,901 | 972,399 | 0 | |||||||||||||||||||
| Dec | 935,084 | 943,307 | J an |
F b e |
M ar |
A pr |
M ay |
J un |
J l u |
A ug |
S ep |
O ct |
N ov |
D ec |
||||||||
| 11,141,574 | 12,288,823 | 11,647,291 | 2016 | 2015 | 2014 |
PS: All are non-audited monthly amounts
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Last 5 Quarters Result Highlight
| (NTD in thousand) Net Sales Gross Profit Gross Profit % Operation Income Non-operating Income Non-operating Expenses Income before Taxes Income Taxes Minority Interests Net Income Net Profit % EPS(NTD in dollars) Stockholders' Equity ROE(quaterly) |
Q3'16 3,231,544 774,244 23.96% 370,602 29,349 (6,556) 393,395 (97,057) 2,141 294,197 9.10% 1.31 5,502,403 5.35% |
Q2'16 3,425,0 823,5 24.0 387,0 64,6 (7,4 444,3 (133,1 2,7 308,4 9.0 1 5,342, 5.7 32 83 5% 77 58 06) 29 95) 25 09 0% .38 560 7% |
Q1'16 3,322,654 829,989 24.98% 415,055 10,639 (6,022) 419,672 (113,738) (2,192) 308,126 9.27% 1.37 5,798,763 5.31% |
Q4'15 2,740,298 614,352 22.42% |
|---|---|---|---|---|
| 196,671 95,209 (13,434) 278,446 (107,344) (11,189) 182,291 6.65% |
||||
| 0.84 5,583,341 3.26% |
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.
Revenues b Market Se ment YTD y g
| Unit：NTD in thousand | Unit：NTD in thousand | 2016 Jan~ Sep | 2015 Jan~ Sep | Increase | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Industry | Sub-Total | Sub-Total | (Decrease) | % | ||||||
| GREEN ENERGY | 2,086,616 | 1,937,616 | 149,000 | 8% | ||||||
| INDUSTRIAL APPLICATION | 2,779,983 | 2,631,360 | 148,623 | 6% | ||||||
| MEDICAL HEALTH | 985,970 | 1,040,514 | (54,544) | -5% | ||||||
| AUTOMOTIVE | 910,049 | 850,307 | 59,741 | 7% | ||||||
| COMMUNICATION | 3,216,612 | 2,911,163 | 305,450 | 10% | ||||||
| Total | 9,979,230 | 9,370,960 | 608,270 | 6% | ||||||
| 2016 3Q Revenue by Market Segment | 2015 3Q | Revenue by Market Segment | ||||||||
| COMMUNICATION | ||||||||||
| COMMUNICATION | GREEN ENERGY | 31% | ||||||||
| 32% | 21% | GREEN ENERGY | ||||||||
| 21% | ||||||||||
| AUTOMOTIVE | ||||||||||
| AUTOMOTIVE 9% |
Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved. INDUSTRIAL APPLICATIO 28% MEDICAL HEALTH 10% MEDICAL HEALTH 11% 9% N |
INDUSTRIAL APPLICATION 28% 16 |
Revenues by Market Segment Annually
| Unit：NTD in thousand | 2015 | 2014 | Increase (Decrease) |
% |
|---|---|---|---|---|
| Industry | Sub-Total | Sub-Total | ||
| GREEN ENERGY | 2,164,185 | 2,047,192 | 116,993 | 6% |
| INDUSTRIAL APPLICATION | 3,393,887 | 2,787,939 | 605,949 | 22% |
| MEDICAL HEALTH | 1,316,364 | 1,251,082 | 65,283 | 5% |
| AUTOMOTIVE | 1,201,836 | 1,233,171 | (31,336) | -3% |
| COMMUNICATION | 4,034,986 | 4,323,335 | (288,349) | -7% |
| Total | 12,111,258 | 11,642,719 | 468,539 | 4% |
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2015 Revenue by Market Segment 2014 Revenue by Market Segment
GREEN ENERGY COMMUNICATION
COMMUNICATION
18% 37% GREEN ENERGY
33%
17%
AUTOMOTIVE
AUTOMOTIVE
MEDICAL HEALTH INDUSTRIAL APPLICATION 11%
INDUSTRIAL APPLICATI
10%
11% 28%
24%
MEDICAL HEALTH
11%
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.
| Financial | Financial | Ratio | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Ratio | 2011 | 2012 | 2013 | 2014 | 2015 | 2016Q3 | |||
| Debt Ratio | 49.00% | 53.70% | 50.42% | 51.52% | 49.27% | 48.71% | |||
| Long-term funds to property, plant and equipment Ratio |
238.33% | 290.99% | 321.56% | 349.93% | 397.86% | 426.83% | |||
| Current Ratio | 138.97% | 154.91% | 164.03% | 165.75% | 166.75% | 168.96% | |||
| Quick Ratio | 96.88% | 115.25% | 123.72% | 121.24% | 122.32% | 130.68% | |||
| Times Interest Earned Ratio | 11.99 | 12.90 | 24.39 | 26.71 | 36.81 | 63.92 | |||
| A/R Turnover | 3.56 | 3.71 | 3.59 | 3.76 | 3.94 | 4.14 | |||
| A/P Turnover | 4.49 | 5.03 | 4.77 | 4.52 | 5.01 | 5.26 | |||
| Inventory Turnover | 4.24 | 4.66 | 4.96 | 4.93 | 4.57 | 5.06 | |||
| Property ,plant and equipment turnover | 5.02 | 5.95 | 6.69 | 7.53 | 8.03 | 9.81 | |||
| Total Assets Turnover | 1.05 | 1.13 | 1.12 | 1.17 | 1.09 | 1.23 | |||
| ROA | 6.03% | 6.08% | 7.00% | 8.14% | 9.30% | 11.44% | |||
| ROE | 13.46% | 12.58% | 13.88% | 15.92% | 17.80% | 21.96% | |||
| Profit before tax to capital | 35.61% | 36.25% | 41.75% | 50.25% | 62.95% | 74.64% | |||
| Net Profit Rate | 5.29% | 4.78% | 5.76% | 6.66% | 7.88% | 9.15% | |||
| BasicEPS (NT$) | 2.49 | 2.93 | 3.20 | 3.82 | 4.53 | 4.06 |
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- PS: You may download completed financial statements at http: / /www.sinbon.com/investor relations/financial statement/
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.
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Trend of ROA & ROE
25.00
20.00
15.00
ROE
ROA
10.00
5.00
0.00
2011 2012 2013 2014 2015 2016Q3
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Financial Records
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.
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Revenue Achievements
Reve n ue
12,111,258 NTD in thousand
11,642,719
[10,555] ,261
10,011,618
8,922,135
2011 2012 20 1 3 2014 2015
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Profitability
Gross Pro f it
22.48%
21.30% 21.50% 21.49% 21.73%
2,722,157 NTD in thousand
2,530,400
2,152,815 2,268,093
1,900,476
2011 2012 2013 2014 2015
Net Profit
6.82%
6.28%
5.01% 5.48%
4.83%
NTD in thousand
970,195
793,752
663,263
548,495
447,031
2011 2012 2013 2014 2015
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.
| Last 5-Year | Last 5-Year | Dividend Policy | Dividend Policy | ||||
|---|---|---|---|---|---|---|---|
| 2011 | 2012 | 2013 | 2014 | 2015 | |||
| EPS(NT$) | 2.49 | 2.92 | 3.2 | 3.82 | 4.53 | ||
| Cash Dividend(NT$) | 1.70 | 2.00 | 2.50 | 2.80 | 3.10 | ||
| Stock Dividend(NT$) | 0.00 | 0.00 | 0.00 | 0.20 | 0.30 | ||
| Total Dividend | 1.70 | 2.00 | 2.50 | 3.00 | 3.40 | ||
| Payout Ratio | 68% | 68% | 78% | 79% | 75% | ||
| Annual Avg. Stock Price | 21.28 | 24.08 | 30.52 | 48.9 | 53.82 | ||
| Yield | 7.99% | 8.31% | 8.19% | 6.13% | 6.32% | ||
| 2.49 | 2.92 | 3.2 2.50 |
3.82 2.80 |
4.53 3.10 |
|||
| 1.70 | 2.00 | 0.20 | 0.30 | ||||
| 2011 2012 EPS (NT$) Ca sh |
2013 2014 Dividend (NT$) Stock |
2015(F) Dividend (NT$) |
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Business Outlook
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.
Business Coverage
MAGIC
Medical Green Industrial Automotive Communication Health Energy Application
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Medical Health
Application
Major Customers
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ment
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Positron Emission Tomography Ultrasound Equipment Magnetic esonance mag ngR I i Patient Monitor
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Radiography (X-Ray)
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Medical Health
Smart Wearable Device
Pet Tracker / Sport
Wearable Device Monitoring pet’s Real-time Reminder
physiological data position tracking function
Pet GPS Tracker
Monitoring Transmit data to
Charging
physiological computer or cell
data phone
Charger for sport
wearable device
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Application
Automotive
Major Customers
Automotive uA dio & Video systems
Parking Related Device
Oxygen Sensor
Car Charger - Industr ai l
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EV Charger
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Green Energy
ers Application Major Custom
Solar (Micro-inverter, Central inverter, DC-Converter)
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Wind Turbine (Hub, Nacelle, Tower, Tower base)
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Industrial Application
Application
Major Customers
Energy Distribution
Electrical Control Cabinet
Automation and Control Nuclear Power Cabinet
Industrial Cooling System
Sensor Control Diagnostic Equipment
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Industrial Application
Application Construction & Transportation Agriculture Equipmen t Marking and Image Industrial Printing Coding Equipment
Major Customers
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Industrial Application
Application
Semiconductor Equipment
Major Customers
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Cradle and PDA
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Industrial Application
Smart Grid System
Integration of Grid Increased use of
Power Optimization energy efficiency
Adjustable Electric Moni t oring Resource of buildings
Data Transfer
Power upp yS l Power Company
Utility/ Monitoring Center
Electricity Adjustment
Customers
Electricity Bill↑ � Close power consuming appliance
Electricity Bill↓ � Allow power consuming appliance Energy Customized Safe &
Management Energy Reliable
Monitoring Data Transfer Management
Solution
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Robot Arm
Industrial Application Smart Industry / Logistics
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Cable for connection
b etween contro l Smart device Factory Logistics
cabinet & robot arm Remote control production automation
automation
Cable for
control cabinet
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Communication
Application
Major Customers
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RF Cable And Antenna For Industrial PDA/ Smart Phone/ Tablet PC/ WLAN/EReader/Gaming Machine
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Communication
Smart Logistics
S m art Real-time data Waterproof Solid structure l o gi s ti cs t ransm ss on i i an d d es gn or i f management dustproof shatterproof NFC Bluetooth ring
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o
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Copyright © 2012 SINBON Electronics Co., Ltd. All rights reserved.