THSRC — Interim / Quarterly Report 2020

Mar 10, 2021

Ticker Symbol: 2633

==> picture [151 x 89] intentionally omitted <==

台灣高速鐵路股份有限公司 2020年第四季營運報告

2021.3.11

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 1
----- End of picture text -----

免責聲明

==> picture [77 x 49] intentionally omitted <==

• 本簡報及同時發布之相關訊息所提及之預測性資訊，包括營運展望 、財務狀況及業務預測等內容，係本公司基於內部資料及外部整體 經濟發展現況所得之資訊。

• 本公司未來實際產生的營運結果、財務狀況與業務成果，可能與預 測性資訊有所差異，其原因可能來自各種因素，包括但不限於市場 需求、各種政策法令與整體經濟現況之改變，以及其他本公司無法 掌控之風險等因素。

• 本簡報中所提供之資訊，係反應本公司截至目前為止對於未來的看 法，並未明示或暗示性地表達或保證其具有正確性、完整性或可靠 性。對於簡報內容，未來若有任何變更或調整，本公司不負責更新 或修正。

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 2
----- End of picture text -----

==> picture [151 x 89] intentionally omitted <==

簡 報 大 綱

壹、業務概況 貳、財務概況 叁、城際公共運輸市場概況 肆、營運展望

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.

==> picture [77 x 49] intentionally omitted <==

壹、業務概況

一. 營運區域與據點

• 二. 運營實績

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 4
----- End of picture text -----

==> picture [77 x 49] intentionally omitted <==

一、營運區域與據點

==> picture [589 x 419] intentionally omitted <==

----- Start of picture text -----

營運涵蓋區域 11縣市
涵蓋人口 90 %
營運路線 (km) 350
車站數 12
維修基地數 5
列車車型 700T
列車組數 34
最高營運速度 300 km/h
----- End of picture text -----

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 5
----- End of picture text -----

二、運營實績

1. 表定發車班次

(車班次/日)

==> picture [77 x 49] intentionally omitted <==

每日雙向列車班次數 (WEEKEND) 每日雙向列車班次數 (WEEKDAY)

166 133

==> picture [348 x 71] intentionally omitted <==

----- Start of picture text -----

 2019年7月起表定每週發車總班次數 1,016 班次。
週二/週三離峰日，雙向 133 班次；
週五/週日尖峰日，雙向 166 班次。
----- End of picture text -----

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 6
----- End of picture text -----

2. 營運指標 - 運能、運量

發車班次數

==> picture [201 x 33] intentionally omitted <==

----- Start of picture text -----

(班次)
1.2%
----- End of picture text -----

==> picture [45 x 10] intentionally omitted <==

----- Start of picture text -----

(百萬公里)
----- End of picture text -----

==> picture [77 x 49] intentionally omitted <==

座位公里數

==> picture [39 x 13] intentionally omitted <==

----- Start of picture text -----

1.3%
----- End of picture text -----

運 能

較2019年僅微幅縮 減，以維持旅運服 務品質

==> picture [56 x 13] intentionally omitted <==

----- Start of picture text -----

旅客人數
----- End of picture text -----

延人公里數

==> picture [270 x 190] intentionally omitted <==

----- Start of picture text -----

(仟人)
15.1%
----- End of picture text -----

==> picture [278 x 191] intentionally omitted <==

----- Start of picture text -----

(百萬公里)
17.4%
----- End of picture text -----

運 量

第四季旅客數已回 升至16,983仟人， 較2019年同期僅下 降3.3%

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 7
----- End of picture text -----

3. 營運指標 - 平均日運量、座位利用率

==> picture [77 x 49] intentionally omitted <==

平均日運量, (仟人次/日)

座位利用率, (%)

平均日運量：2020 YoY -15.3% 座位利用率：2020 YoY -11.1PP

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 8
----- End of picture text -----

4. 各車站年旅客人數成長趨勢

==> picture [77 x 49] intentionally omitted <==

※ Top 5 Stations with Large Passenger Use (仟人，2020年度)

==> picture [690 x 375] intentionally omitted <==

----- Start of picture text -----

(仟人) 1 台北 2 台中 3 左營 4 桃園 5 新竹
13,178 9,496 7,725 5,742 5,413
16%
18%
19%
19%
11%
2%
16%
7% 15%
13%
10%
13%
----- End of picture text -----

5. 通車營運迄今運轉實績

==> picture [77 x 49] intentionally omitted <==

2020.01.01 ~ 2020.12.31

2007.01.05 ~ 2020.12.31

累計發車班次數 累計載客數 累計載客規模

累計發車班次數 累計載客數 累計載客規模 總平均乘載率 發車率(含天災) 營運列車準點率(含天災) 平均延誤時間 營運責任事故數	53,076 班 671,736班
	57.2百萬人次 653.4百萬人次
	9,912百萬延人公里 124,296百萬延人公里
	56.94% 56.83%
	100% 99.67%
	99.71%(延誤<5分鐘) 99.51%(延誤<5分鐘)
	0.13分鐘 0.19分鐘
	0件 0件

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 10
----- End of picture text -----

==> picture [77 x 49] intentionally omitted <==

貳、財務概況

一. 財務報告

• 二. 財務風險管理

三. 信用評等 & 股本總市值

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 11
----- End of picture text -----

一、財務報告

1. 簡式損益表

==> picture [77 x 49] intentionally omitted <==

(NT$mn)	2020	2020	2019	2019	差異金額	YoY %
營業收入	39,137	100%	47,507	100%	(8,370)	-17.6%
營業成本	(26,095)	-67%	(25,763)	-54%	(332)	1.3%
營業毛利	13,042	33%	21,745	46%	(8,703)	-40.0%
營業費用	(1,235)	-3%	(1,233)	-3%	(2)	0.2%
營業淨利	11,807	30%	20,512	43%	(8,705)	-42.4%
營業外收入及支出
利息費用	(5,919)	-15%	(6,455)	-13%	536	-8.3%
平穩額度挹注(費用)	(886)	-2%	(6,524)	-14%	5,638	-86.4%
其它	418	1%	242	-	176	72.7%
稅前淨利	5,419	14%	7,775	16%	(2,356)	-30.3%
所得稅利益(費用)	424	1%	232	1%	192	82.8%
本期淨利	5,843	15%	8,007	17%	(2,164)	-27.0%
EPS	1.04		1.42

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 12
----- End of picture text -----

2. 營收結構及獲利表現

==> picture [77 x 49] intentionally omitted <==

1) 營收結構

(NT$bn) 2020 2019 YoY% 票務收入 37.90 46.11 -17.8% 非票務收入 1.23 1.40 -11.9% 合計 39.14 47.51 -17.6%

==> picture [348 x 228] intentionally omitted <==

==> picture [357 x 234] intentionally omitted <==

----- Start of picture text -----

因疫情減降商場租金及車販暫停，致使非票收下滑
----- End of picture text -----

註：非票務收入主係租金收入、廣告收入及車販收入

2. 營收結構及獲利表現

==> picture [77 x 49] intentionally omitted <==

2) 營業收入及毛利率、純益率變化

==> picture [42 x 12] intentionally omitted <==

----- Start of picture text -----

(NT$bn)
----- End of picture text -----

==> picture [446 x 36] intentionally omitted <==

----- Start of picture text -----

(%)
 第二季為營運谷底，營收及雙率呈逐季攀升
----- End of picture text -----

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © 2019 Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 14
----- End of picture text -----

3. EBITDA & EBITDA Margin

==> picture [77 x 49] intentionally omitted <==

(NT$bn)

(%)

 EBITDA

• 2020: YoY -24.7%

 EBITDA Margin

• ’18~’19表現區間: 約72%~73%

• '20受疫情影響致營收下滑，EBITDA Margin降至66.4%

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 15
----- End of picture text -----

4. 資產負債表

==> picture [77 x 49] intentionally omitted <==

資產負債表
(NT$mn)	2020.12.31	2019.12.31
流動資產	38,621	42,710
營運特許權資產	378,291	390,113
其它非流動資產	10,654	10,236
資產總計	427,567	443,060
流動負債	7,067	13,279
非流動負債	350,413	358,703
負債合計	357,480	371,982
普通股股本	56,283	56,283
資本公積	173	173
保留盈餘及其它	13,631	14,621
權益合計	70,087	71,077
負債及權益總計	427,567	443,060

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 16
----- End of picture text -----

5. 現金流量表

==> picture [77 x 49] intentionally omitted <==

(NT$mn)

2020.12.31

2019.12.31

期初現金及約當現金餘額

營業活動之淨現金流入(出)

投資活動之淨現金流入(出)

籌資活動之淨現金流出

本期現金及約當現金增加數

期末現金及約當現金餘額

16,272

6,948

(1,532)

28,546

821 (12,761)

(14,909)

(6,462)

(15,620) 9,324

652 16,272

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 17
----- End of picture text -----

二、財務風險管理

==> picture [77 x 49] intentionally omitted <==

==> picture [574 x 375] intentionally omitted <==

----- Start of picture text -----

(%)
----- End of picture text -----

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 18
----- End of picture text -----

三、信用評等 & 股本總市值 (Market Cap)

==> picture [393 x 131] intentionally omitted <==

----- Start of picture text -----

股本市值
(US$bn)
評鑑機構 長期評等 短期評等 展望
中華信評 twAA+ twA-1+ 穩定
惠譽 AA+(twn) F1+(twn) 穩定
----- End of picture text -----

==> picture [77 x 49] intentionally omitted <==

==> picture [103 x 64] intentionally omitted <==

----- Start of picture text -----

2020年12月
市值1,744(億元)
約57(億, 美元)
----- End of picture text -----

==> picture [316 x 13] intentionally omitted <==

----- Start of picture text -----

註: 以月均價、月底發行股數(含私募)及US$/NT$=30.5計
----- End of picture text -----

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 19
----- End of picture text -----

==> picture [77 x 49] intentionally omitted <==

叄、城際公共運輸市場概況

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 20
----- End of picture text -----

城際公共運輸市場概況

==> picture [66 x 12] intentionally omitted <==

----- Start of picture text -----

旅客數佔比
----- End of picture text -----

==> picture [284 x 171] intentionally omitted <==

----- Start of picture text -----

延人公里佔比
----- End of picture text -----

==> picture [322 x 205] intentionally omitted <==

----- Start of picture text -----

(仟人) Jan~Nov 2020旅客數成長趨勢
14%
16% 22%
----- End of picture text -----

==> picture [323 x 205] intentionally omitted <==

----- Start of picture text -----

(仟人公里) Jan~Nov 2020延人公里成長趨勢
18%
16%
24%
----- End of picture text -----

平均每一旅 客運輸距離

==> picture [179 x 78] intentionally omitted <==

==> picture [178 x 79] intentionally omitted <==

==> picture [178 x 79] intentionally omitted <==

資料來源：交通部 Page 21 Page 21

==> picture [77 x 49] intentionally omitted <==

肆、營運展望 一. 營運策略 二. 永續經營、環境保護

==> picture [720 x 226] intentionally omitted <==

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 22
----- End of picture text -----

一、營運策略

==> picture [77 x 49] intentionally omitted <==

• 推動高鐵假期等旅遊產品，提升離峰時段乘載率

營 收

• 提供多樣化個人及旅遊產品

• 精準會員行銷、點數經濟

• 拓展聯名零售商品等非票務收入

• 降低銀行融資規模

財 務

• 自資本或/及貨幣市場募集較低成本資金

• 降低利息費用

==> picture [115 x 70] intentionally omitted <==

----- Start of picture text -----

成 本
----- End of picture text -----

 扶植國內供應商開發維修、測試、系統等設備

• 擴大維修物料、零組件國產化商源

==> picture [720 x 55] intentionally omitted <==

----- Start of picture text -----

Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 23
----- End of picture text -----

二、永續經營、環境保護

==> picture [77 x 49] intentionally omitted <==

2017年擬定「永續策略藍圖」，以「4T」：專業運輸（Transportation）、創新科技（Technology）、 深耕在地（Taiwan）、永續關懷（Touch）為永續經營策略，對應聯合國永續發展目標（SDGs），為深化 與實踐的方向。

==> picture [721 x 380] intentionally omitted <==

----- Start of picture text -----

榮獲2020台灣十大永續典範企業獎 永
續 歷
實 年
績
富時臺灣永續指數
富時社會責任指數
(FTSE4Good Index Series)
獲頒國家品牌玉山獎，江董事長
於總統府代表得獎企業致詞 連續 3年公司治理
評鑑排名前5%
台灣企業永續獎
Copyright © Taiwan High Speed Rail Corporation. All Contents Confidential.
Page 24
----- End of picture text -----

結 語

==> picture [77 x 49] intentionally omitted <==

願景：成為引領進步、創造美好的生活平台 將科技融入服務，創造 4T 智慧便捷新生活 成為台灣前十大卓越品牌

運輸 T ransportation 科技 T echnology 在地 T aiwan

建構專業運輸系統，提供優質、便利的服務與產品

推動智慧運輸，提升營運、服務、安全及應變決策效率

結合各地獨特人文與景觀，打造更多元進步的活動平台

關懷 T ouch

建構品牌文化、提升人才技能與企業效率，積極參與 社會關懷與環境保護

Page 25 Page 25

==> picture [355 x 540] intentionally omitted <==

To learn more about THSRC, please visit http://www.thsrc.com.tw

==> picture [346 x 63] intentionally omitted <==

Page 26