Tripod — Annual Report 2013

Jun 27, 2013

Presentation

June 2013

FY2011 Global Top 10 PCB Makers

Unit: Million USD

Rank Makers 1 Unimicron (with PPT) 2 Nippon Mektron* 3 Ibiden 4* Zhen Ding (Foxconn PCB)	Nationality 2001 …. 2007 2008 2009 2010 2011 Taiwan 410(11) 1510(3) 1489(3) 1734(1) 2179(1) 2453(1) Japan 708(5) 1629(2) 1716(1) 1656(3) 2106(3) 2314(2) Japan 887(1) 1794(1) 1629(2) 1731(2) 2110(2) 2149(3) Taiwan 60(na) 550(22) 550(19) 750(12) 1150(8) 1512(4)
5 Tripod	Taiwan 112(57) 841(10) 933(8) 1028(4) 1370(4) 1396(5)
6 Hannstar Board (with GBM) 7 TTM (with Meadville, Tyco) 8 Samsung Electro-Mech 9 Nanya PCB 10 Yong Poong (with KCC, Interflex*)	Taiwan 48(na) 572(21) 633(17) 596(17) 1148(9) 1391(6) USA 129(51) 575(20) 596(18) 506(23) 1366(5) 1390(7) S. Korea 368(14) 1272(4) 1174(5) 895(7) 1282(6) 1385(8) Taiwan 296(17) 1236(5) 1179(4) 848(9) 1158(7) 1324(9) S. Korea 270(21) 612(18) 535(22) 887(8) 978(12) 1204(10)
2011 Top 10 Makers Total Global Output Total (by Prismark) 2011 Top 10 Makers Shares	10,591 10,434 10,631 14,847 16,518 47,684 48,342 41,226 52,468 55,409 22.2% 21.6% 25.8% 28.3% 29.8%

• Flex PCB part including FPCBA value

Source : NT Information ( July. 2012 )

** UMTC merged PPT at 2009; HSB consolidated GBM, TTM acquired Meadville from 2010

Unit: Million USD FY2011 China Top 10 PCB Makers

Rank Maker 1 Zhen Ding (Foxconn PCB) 2 HannStar Board (with GBM)**	Chinese Name 臻鼎科技 瀚宇博德	Nationality Taiwan Taiwan	2003 ….. 116 41	2007 550 455	2008 550 557	2009 750 550	2010 1150 1078	2011 1510 1314
3 Tripod	健鼎科技	Taiwan	12	600	786	907	1208	1270
4 Kingboard PCB Group 5 Meadville (TTM Asia Pacific) 6 Unimicron 7 Viasystems (with Merix)** 8 Multek (Flextronics PCB) 9 Meiko 10 Wus	建滔集團 美維科技 欣興電子 惠亞集團 超毅科技 名幸電子 楠梓電子	Hong Kong Hong Kong Taiwan USA USA Japan Taiwan	405 200 203 320 215 92 130	844 530 610 490 570 427 361	944 670 580 490 640 560 397	870 620 590 350 590 490 325	1142 792 545 658 770 536 418	1046 863 805 721 670 545 468
2011 Top 10 MakersTotal China Output Total (by Prismark) 2011 Top 10 Makers Shares		1,644 5,336 6,047 6,042 8,297 9,212 5,543 13,563 15,037 14,252 20,170 22,029 29.7% 39.3% 40.2% 42.4% 41.1% 41.8%

• Not including FPCB/FPCBA maker (M-Flex:US$832m, Mektec:US$593m in 2011)

Source : N.T. Information ( July. 2012 )

• *HSB consolidated GBM, Viasystems acquired Merix from 2010

Consolidated Income Statement (IFRS)

Attributable to: Basic EPS Net Sales the Parent Net Income COGS Gross Profit Operating Exp. Operating Income Non-Op. Income Income Tax Unit : Million NTD Pretax Income	AMT % 9,350 100.0% 7,696 82.3% 1,654 17.7% 804 8.6% 850 9.1% 119 1.3% 968 10.4% 185 2.0% 784 8.4% 805 8.6% $1.53 2012 Q1	AMT % 10,025 100.0% 8,252 82.3% 1,772 17.7% 853 8.5% 920 9.2% 238 2.4% 1,157 11.5% 317 3.2% 840 8.4% 830 8.3% $1.58 2012 Q2	AMT % 9,867 100.0% 8,274 83.4% 1,592 16.1% 819 8.3% 774 7.8% 85 0.9% 859 8.7% 206 2.1% 652 6.6% 662 6.7% $1.26 2012 Q3	AMT % 9,879 100.0% 8,275 83.8% 1,604 16.2% 802 8.1% 802 8.1% -70 -0.7% 732 7.4% 114 1.2% 618 6.3% 619 6.3% $1.18 2012 Q4	2013 Q1	2013 Q1
	AMT 9,350 7,696 1,654 804 850 119 968 185 784	AMT 10,025 8,252 1,772 853 920 238 1,157 317 840	AMT 9,867 8,274 1,592 819 774 85 859 206 652	AMT 9,879 8,275 1,604 802 802 -70 732 114 618 619 $1.18	AMT 10,002 8,578 1,424 772 652 59 711 103 608 606 $1.15	%
						100.0% 85.8%
						14.2% 7.7%
						6.5% 0.6%
						7.1% 1.0%
						6.1%
						6.1%
	805 $1.53	830 $1.58	662 $1.26

Consolidated Income Statement (ROC GAAP)

Unit : Million NTD Income Tax Net Income COGS Gross Profit Operating Exp. Operating Income Pretax Income Non-Op. Income Net Sales Attributable to: the Parent Basic EPS	AMT % 30,332 100.0% 24,865 82.0% 5,467 18.0% 2,757 9.1% 2,710 8.9% 572 1.9% 3,282 10.8% 481 1.6% 2,801 9.2% 2,811 9.3% $6.08 2008	AMT % 33,424 100.0% 26,708 79.9% 6,715 20.1% 2,880 8.6% 3,835 11.5% -131 -0.4% 3,704 11.1% 535 1.6% 3,169 9.5% 3,182 9.5% $6.76 2009	AMT % 43,016 100.0% 33,539 78.0% 9,477 22.0% 3,651 8.5% 5,826 13.5% 130 0.3% 5,956 13.8% 937 2.2% 5,018 11.7% 5,083 11.8% $10.73 2010	AMT % 40,899 100.0% 32,826 80.3% 8,072 19.7% 3,419 8.4% 4,653 11.4% 385 0.9% 5,038 12.3% 818 2.0% 4,220 10.3% 4,205 10.3% $8.00 2011	2012	2012
	AMT 30,332 24,865 5,467 2,757 2,710 572 3,282 481 2,801	AMT 33,424 26,708 6,715 2,880 3,835 -131 3,704 535 3,169	AMT 43,016 33,539 9,477 3,651 5,826 130 5,956 937 5,018	AMT 40,899 32,826 8,072 3,419 4,653 385 5,038 818 4,220	AMT 39,121 32,452 6,668 3,406 3,262 475 3,736 826 2,911	%
						100.0% 83.0%
						17.0% 8.7%
						8.3% 1.2%
						9.6% 2.1%
						7.4%
	2,811 $6.08	3,182 $6.76	5,083 $10.73	4,205 $8.00	2,933 $5.58	7.5%

Cash and Cash Equivalents Other Current Assets Funds and Investments Fixed Assets Intangible and Other Assets Total Assets Short-Term Loans Other Current Liabilities Long-Term Borrowings Other Liabilities Shareholder's Equities Total Liabilities and Equities Unit: Million NTD	AMT % 7,525 20.2% 15,103 40.5% 80 0.2% 14,490 38.8% 112 0.3% 37,310 100.0% 2,071 5.6% 12,005 32.2% 4,383 11.7% 1,100 2.9% 17,752 47.6% 37,310 100.0% 2009	AMT % 7,525 20.2% 15,103 40.5% 80 0.2% 14,490 38.8% 112 0.3% 37,310 100.0% 2,071 5.6% 12,005 32.2% 4,383 11.7% 1,100 2.9% 17,752 47.6% 37,310 100.0% 2009	AMT % 13,179 30.1% 17,179 39.2% 57 0.1% 13,172 30.1% 220 0.5% 43,808 100.0% 7,694 17.6% 14,600 33.3% 500 1.1% 911 2.1% 20,103 45.9% 43,808 100.0% 2010	AMT % 13,179 30.1% 17,179 39.2% 57 0.1% 13,172 30.1% 220 0.5% 43,808 100.0% 7,694 17.6% 14,600 33.3% 500 1.1% 911 2.1% 20,103 45.9% 43,808 100.0% 2010	AMT % 11,188 25.2% 16,283 36.6% 60 0.1% 15,332 34.5% 1,585 3.6% 44,448 100.0% 5,039 11.3% 13,423 30.2% 0 0.0% 2,131 4.8% 23,854 53.7% 44,448 100.0% 2011	AMT % 11,188 25.2% 16,283 36.6% 60 0.1% 15,332 34.5% 1,585 3.6% 44,448 100.0% 5,039 11.3% 13,423 30.2% 0 0.0% 2,131 4.8% 23,854 53.7% 44,448 100.0% 2011	AMT % 10,114 22.2% 16,820 36.8% 28 0.1% 17,052 37.4% 1,635 3.6% 45,648 100.0% 7,567 16.6% 13,547 29.7% 0 0.0% 313 0.7% 24,221 53.1% 45,648 100.0% 2012	AMT % 10,114 22.2% 16,820 36.8% 28 0.1% 17,052 37.4% 1,635 3.6% 45,648 100.0% 7,567 16.6% 13,547 29.7% 0 0.0% 313 0.7% 24,221 53.1% 45,648 100.0% 2012	AMT % 10,114 22.2% 16,820 36.8% 28 0.1% 17,052 37.4% 1,635 3.6% 45,648 100.0% 7,567 16.6% 13,547 29.7% 0 0.0% 313 0.7% 24,221 53.1% 45,648 100.0% 2012	2013	Q1*
	AMT 7,525 15,103 80 14,490 112 37,310 2,071 12,005 4,383 1,100 17,752 37,310		AMT 13,179 17,179 57 13,172 220 43,808 7,694 14,600 500 911 20,103 43,808		AMT 11,188 16,283 60 15,332 1,585 44,448 5,039 13,423 0 2,131 23,854 44,448		AMT 10,114 16,820 28 17,052 1,635 45,648 7,567 13,547 0 313 24,221 45,648			AMT 11,388 17,015 42 17,235 1,885 47,565 7,626 14,071 0 551 25,317 47,565	%
											23.9% 35.8% 0.1% 36.2% 4.0%
											100.0%
											16.0% 29.6% 0.0% 1.2% 53.2%
											100.0%
Asset Turnover (x) Fixed Asset Turnover (x) ROA (%) ROE (%) Current Ratio (%) Debt / Asset Ratio (%) NetDebt /EquityRatio (%)	0.93 2.11 8.8% 19.0% 161% 52% -6%		1.06 3.11 12.4% 26.5% 136% 54% -25%		0.93 2.87 9.6% 19.2% 149% 46% -26%		0.87 2.42 6.5% 12.1% 128% 47% -11%			0.86 2.33 5.2% 9.8% 131% 47% -15%

• Started to Adopt IFRS Since 2013

Consolidated Statements of Cash flows

Unit: Million NTD 2008 Net Income 2,801 Depreciation & Amortization 3,246 Others -626 Cash Flow from Operations 5,421 Acquisition of Fixed Assets -3,313 Decrease (Increase) in Investmen 0 Others 85 Cash Flow from Investments -3,228 Increase (Decrease) in Loans 4,993 Cash Dividends Paid -1,031 Others -189 Cash Flow from Financing 3,773 Foreign Exchange Translation -124 Increase (Decrease) in Cash 5,842 Cash at the End of the Year* 6,466	2009 3,169 3,819 555 7,544 -1,748 -98 -59 -1,905 -3,432 -1,018 42 -4,408 -171 1,059 7,525	2010 5,018 3,916 288 9,222 -3,058 46 -31 -3,044 1,594 -1,279 99 414 -938 5,654 13,179	2011 4,220 3,784 248 8,253 -4,036 -821 -209 -5,067 -3,965 -2,036 -7 -6,008 509 -2,313 11,188	2012 2,911 3,730 -2,451 4,190 -5,739 -28 -92 -5,858 2,662 -1,892 -15 755 -160 -1,074 10,114	2013 Q1*
					711 917 328
					1,956
					-771 0 12
					-759
					-172 0 58
					-114
					192 1,275
					11,388

• Started to Adopt IFRS Since 2013 and Changed Net Income to Before Income Tax Basis