SLC — Interim / Quarterly Report 2019

Jul 12, 2019

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Stock Code：2616

2019.07.12

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Disclaimer

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 The Company has not issued financial forecasts. This presentation may contains forward-looking statements. Actual results may differ materially from these forwardlooking statements. Because that has many factors are beyond our control. Such as market demand changes, price fluctuation, exchange rate changes, and changes in international economic conditions and so on.

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Company Profile

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• Established in 1976

• IPO in 1997

• Capital ： NT$1.373 billon

• Consolidated revenue ： NT$19.0 billion in 2018

 Employees ： About 1,800 people

 Business Items ： Cargo Freight, Oil Product, Logistics and Warehousing, Shipping Declarations

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Vertical Integrated Service

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Cargo
Oil
Freight
Product
Sales
Vehicle
repair
Logistics
Warehousing
Ship
Declara
Vehicle
tions
inspection
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Service Contents

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Transportation Networks

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Specialized Equipment -Cargo Freight

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Specialized Equipment -Logistics and Warehousing

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Networks of Gas Stations

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Gas Station Diversified Services

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Financial Overview

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Consolidated Income Statement

Unit：Million NTD	2015	%	2016	%	2017	%	2018	%	2019Q1	%
Operating income	15,825	100	15,561	100	17,029	100	19,016	100	4,244	100
Operating cost	14,580	92	14,082	90	15,540	91	17,552	92	3,868	91
Operating margin	1,245	8	1,479	10	1,489	9	1,464	8	376	9
Operating expenses	1,015	6	1,106	7	1,193	7	1,248	7	322	8
Operating netprofit	230	1	373	2	296	2	216	1	54	1
External income and expenses	45	0	70	0	347	2	97	0	15	0
Pre-Tax Income	275	2	443	3	643	4	313	2	69	2
Income Tax Expense	52	0	79	1	92	1	77	0	15	0
Net Income	223	1	364	2	551	3	236	1	54	1
Net Income- Not included land for sale	223		364		244		236		54
EPS(NTD)	1.90		3.09		4.24		1.76		0.39
EPS(NTD)- Not included land for sale	1.90		3.09		2.03		1.76		0.39
Cash divident(NTD)	1.49		2.06		2.56		1.60

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Revenue

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Unit：Million NTD

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20,000
19,016
17,029
18,000
15,825
15,561
5,142
16,000
5,134
14,000
4,486 4,884
12,000
10,000
8,000
13,874
6,000 11,895 4,244
11,139 10,677
4,000
1,264
2,000
2,980
0
2015 2016 2017 2018 2019Q1
Oil Department Department of transportation Total
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Comparison of revenue in the first quarter

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Unit：Million NTD

0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000
	4169
	3,851 , 4,344 4,244
	1164 1,065 1264 3312
	1,151 , , ,
	1,115
	3279
	2,700 2197 3,005 , 2,980
	,
	2015 2016 2017 2018 2019 Oil Department Department of transportation Total

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Net Income

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Unit：Million NTD

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600
551
500
364
400
300
223
236
200
100
54
0
2015 2016 2017 2018 2019Q1
Total
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Comparison of net income in the first quarter

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Unit：Million NTD

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70
62
60
54
50
49
45
40
35
30
20
10
0
2015 2016 2017 2018 2019
Total
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The Comparative Income Statement

Unit：Million NTD	2019Q1	%	2018Q1	%	Yoy
Operating income	4,244	100	4,344	100	(2)
Operating cost	3,868	91	3,989	92	(3)
Operating margin	376	9	355	8	6
Operating expenses	322	8	303	7	6
Operating netprofit	54	1	52	1	4
External income and expenses	15	0	14	0	7
Pre-Tax Income	69	2	66	2	5
Income Tax Expense	15	0	17	0	(12)
Net Income	54	1	49	1	10
EPS(NTD)	0.39		0.38		3

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Sales of Oil Products/ Monthly Average

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Unit：Kiloliter

0 10,000 20,000 30,000 40,000 50,000 60,000	32,981 33,885 33,415 33,136 29,649 14,007 15,380 15,190 15,164 13,980 46,988 49,265 48,605 48,300 43,629 2015 2016 2017 2018 2019Q1 Diesel oil Gasoline Total

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Dividends Policy: Steady Payout

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• Cash dividend payout ratio has maintained between 60% and 78% in recent years.

• In 2018, cash dividend payout ratio is 91%.

• Unit： NTD

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5.00
4.24
4.00
3.00 3.09 2.56
2.23 2.02 2.06
2.00 2.43
1.76
1.90
1.00 1.50 1.50 1.50 1.49
1.60
0.00
2012 2013 2014 2015 2016 2017 2018
Cash Dividend EPS
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Consolidated Balance Sheet

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Unit：Million NTD	2015	%	2016	%	2017	%	2018	%	2019Q1	%
Assets
Current assets	1,785	32	2,119	32	2,092	29	2,376	32	2,224	25
Non-current assets	3,820	68	4,417	68	5,078	71	5,061	68	6,498	75
Total assets	5,605	100	6,536	100	7,170	100	7,437	100	8,722	100
Liabilities
Current liabilities	1,602	29	2,407	37	2,320	32	2,444	33	2,513	29
Non-current liabilities	1,122	20	749	11	697	10	908	12	1,959	22
Total liabilities	2,724	49	3,156	48	3,017	42	3,352	45	4,472	51
Equity
Controlling interest	2,719	49	3,223	49	3,989	56	3,955	53	4,116	47
Non-controlling interest	162	3	157	2	164	2	130	2	134	2
Total Equity	2,881	51	3,380	52	4,153	58	4,085	55	4,250	49
Total liabilities and equity	5,605	100	6,536	100	7,170	100	7,437	100	8,722	100
Accounts receivable turnover days	19		20		19		17		18

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The Comparative Balance Sheet

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Unit：Million NTD	2019Q1	%	2018Q1	%	Yoy
Assets
Current assets	2,224	25	1,976	28	13
Non-current assets	6,498	75	5,139	72	26
Total assets	8,722	100	7,115	100	23
Liabilities
Current liabilities	2,513	29	2,157	30	17
Non-current liabilities	1,959	22	705	10	178
Total liabilities	4,472	51	2,862	40	56
Equity
Controlling interest	4,116	47	4,088	57	1
Non-controlling interest	134	2	165	2	(19)
Total Equity	4,250	49	4,253	60	(0)
Total liabilities and equity	8,722	100	7,115	100	23
Accounts receivable turnover days	18		18

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Financial Ratios

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0.00 0.20 0.40 0.60 0.80 1.00 1.20	1.11 0.88 0.90 0.97 0.88 48% 48% 42% 45% 51% 0% 10% 20% 30% 40% 50% 60% 2015 2016 2017 2018 2019Q1 Current Ratio Debt Ratio

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Company Become a Vision professional Provide labeling company more in the transportation industry services Continue Vertical to expand fueling Integrated station Service services

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Q&A
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www.slc-new.slc.com.tw ir@slc.com.tw

2019.07.12