Tripod — Interim / Quarterly Report 2016

Mar 3, 2017

Presentation

March 2017

Worldwide PCB Production Region Value Share(%)

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60.0%
2006
2007
50.0%
2008
2009
2010
40.0%
2011
2012
30.0% 2013
2014
2015
20.0%
2016E
10.0%
0.0%
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0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Americas Europe Japan Asia(ex JP & CN) China (Area)
M USD	Americas	Europe	Japan	Asia (ex JP&CN)	China	China Growth	Worldwide TOTAL	Worldwide Growth	China's Share
2006	5,054	3,612	10,511	14,229	11,737	22.9%	45,144	11.1%	26.0%
2007	4,577	3,598	10,716	15,231	13,563	15.6%	47,684	5.6%	28.4%
2008	4,484	3,208	10,095	15,518	15,037	10.9%	48,342	1.4%	31.1%
2009	3,446	2,035	8,304	13,189	14,252	-5.2%	41,226	-14.7%	34.6%
2010	3,923	2,464	10,165	15,746	20,170	41.5%	52,468	27.3%	38.4%
2011	3,825	2,550	9,638	17,367	22,029	9.2%	55,409	5.6%	39.8%
2012	3,284	2,338	9,074	18,037	22,936	4.1%	55,669	0.5%	41.2%
2013	3,044	2,190	6,995	19,363	24,560	7.1%	56,152	0.9%	43.7%
2014	2,977	2,220	6,530	19,507	26,203	6.7%	57,437	2.3%	45.6%
2015	2,776	1,933	5,655	18,233	26,729	2.0%	55,325	-3.7%	48.3%
2016E	2,789	1,897	5,066	17,176	26,706	-0.1%	53,634	-3.1%	49.8%

* Source : Prismark (Nov. 2016)

2015 Global Top 15 PCB Makers

Unit: Million USD

Rank	Makers	Nationality	2010	2011	2012	2013		2014	2015	Growth
1 Nippon Mektron 2 Zhen Ding (Foxconn PCB) 3 TTM (with Viasystems) 4 Unimicron (with PPT) 5* Sumitomo Electric		Japan 2115(3) 2240(3) 2632(1) 2556(1) Taiwan 1100(10) 1505(5) 1874(5) 2166(3) USA 2428(1) 2563(1) 2430(2) 2380(2) Taiwan 2185(2) 2370(2) 2377(3) 2133(5) Japan 660(20) 880(14) 1184(9) 1315(9)					2997(1) 3512(1) 2504(2) 2703(2) 2376(3) 2488(3) 2149(4) 2122(4) 1279(9) 1616(5)			17.2% 7.9% 4.7% -1.3% 26.3%
6 Compeq		Taiwan 695(19) 811(18) 905(14) 1041(12)					1116(11) 1395(6)			25.0%
7 Tripod		Taiwan 1370(5) 1395(7) 1325(8) 1372(8)					1400(8) 1368(7)			-2.3%
8 Samsung Electro-Mech 9 Ibiden 10 YoungPoong (with KCC,Interflex*)		S. Korea 1250(6) 1445(6) 1867(6) 1700(6) Japan 2075(4) 2126(4) 2094(4) 1567(7) S. Korea 980(11) 1255(10) 1555(7) 2065(4)					1551(6) 1344(8) 1455(7) 1297(9) 1675(5) 1295(10)			-13.3% -10.9% -22.7%
11 Nanya PCB 12 Daeduck Group 13 KB PCB Group (Elec&Eltek..) 14 AT&S 15 Hannstar Board(with GBM)		Taiwan 1140(8) 1290(9) 975(12) 1088(11) S. Korea 765(18) 970(12) 1080(11) 1190(10) HongKong 1115(9) 1040(11) 935(13) 922(14) Austria 625(21) 690(21) 698(20) 780(16) Taiwan 1150 (7) 1290(9) 1100(10) 972(13)					1154(10) 945(11) 1076(12) 930(12) 965(13) 930(13) 829(15) 844(14) 958(14) 825(15)			-18.1% -13.6% -3.6% 1.8% -13.9%
Top15 PCB Makers		19653 21870 23031 23247					23484 23614			0.1%

• FPC Makers Include FPCBA Value

Source : Prismark ( Feb. 2016 )

** On a Pro Forma Basis, TTM Acquired Viasystems in 2015

Consolidated Quarterly Income Statement

Net Income COGS Gross Profit Operating Exp. Operating Income Non-Op. Income the Parent Attributable to: Other Expense Basic EPS Income Tax Net Sales Pretax Income Dep.& Amort. Unit : Million NTD	AMT % 11,212 100.0% 9,362 83.5% 1,850 16.5% 961 8.6% 0 0.0% 890 7.9% 96 0.9% 986 8.8% 161 1.4% 824 7.4% 824 7.4% $1.57 773 6.9% 2015 Q4	AMT % 9,945 100.0% 8,438 84.8% 1,507 15.2% 888 8.9% 0 0.0% 619 6.2% 165 1.7% 784 7.9% 114 1.1% 670 6.7% 670 6.7% $1.28 757 7.6% 2016 Q1	AMT % 10,663 100.0% 8,954 84.0% 1,709 16.0% 901 8.4% 0 0.0% 808 7.6% 164 1.5% 972 9.1% 278 2.6% 694 6.5% 694 6.5% $1.32 727 6.8% 2016 Q2	AMT % 11,619 100.0% 9,302 80.1% 2,317 19.9% 879 7.6% 450 3.9% 989 8.5% 202 1.7% 1,191 10.2% 214 1.8% 976 8.4% 976 8.4% $1.86 675 5.8% 2016 Q3	2016 Q4	2016 Q4
	AMT 11,212 9,362 1,850 961 0 890 96 986 161 824	AMT 9,945 8,438 1,507 888 0 619 165 784 114 670	AMT 10,663 8,954 1,709 901 0 808 164 972 278 694	AMT 11,619 9,302 2,317 879 450 989 202 1,191 214 976	AMT 11,286 9,002 2,284 1,011 0 1,273 256 1,530 298 1,232	%
						100.0% 79.8%
						20.2% 9.0% 0.0%
						11.3% 2.3%
						13.6% 2.6%
						10.9%
	824 $1.57	670 $1.28	694 $1.32	976 $1.86	1,232 $2.34	10.9%
	773	757	727	675	590	5.2%

Consolidated Annual Income Statement

Gross Profit COGS Dep.& Amort. Net Income Other Expense Operating Income Pretax Income Non-Op. Income Attributable to: Basic EPS the Parent Income Tax Operating Exp. Net Sales Unit : Million NTD	AMT % 39,121 100.0% 32,498 83.1% 6,622 16.9% 3,192 8.2% 86 0.2% 3,345 8.6% 372 1.0% 3,717 9.5% 822 2.1% 2,895 7.4% 2,917 7.5% $5.55 3,728 9.5% 2012	AMT % 40,772 100.0% 34,869 85.5% 5,903 14.5% 3,025 7.4% 331 0.8% 2,546 6.2% 345 0.8% 2,892 7.1% 525 1.3% 2,367 5.8% 2,375 5.8% $4.52 3,638 8.9% 2013	AMT % 42,433 100.0% 35,771 84.3% 6,662 15.7% 3,960 9.3% 129 0.3% 2,573 6.1% 667 1.6% 3,240 7.6% 584 1.4% 2,656 6.3% 2,637 6.2% $5.02 2,816 6.6% 2014	AMT % 43,383 100.0% 36,589 84.3% 6,793 15.7% 3,933 9.1% 0 0.0% 2,860 6.6% 671 1.5% 3,531 8.1% 698 1.6% 2,833 6.5% 2,833 6.5% $5.39 3,080 7.1% 2015	2016	2016
	AMT 39,121 32,498 6,622 3,192 86 3,345 372 3,717 822 2,895	AMT 40,772 34,869 5,903 3,025 331 2,546 345 2,892 525 2,367	AMT 42,433 35,771 6,662 3,960 129 2,573 667 3,240 584 2,656	AMT 43,383 36,589 6,793 3,933 0 2,860 671 3,531 698 2,833	AMT 43,513 35,695 7,818 3,679 450 3,689 788 4,477 904 3,573	%
						100.0% 82.0%
						18.0% 8.5% 1.0%
						8.5% 1.8%
						10.3% 2.1%
						8.2%
	2,917 $5.55	2,375 $4.52	2,637 $5.02	2,833 $5.39	3,573 $6.80	8.2%
	3,728	3,638	2,816	3,080	2,749	6.3%

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 % 10,114 22.1% 16,598 36.3% 28 0.1% 17,081 37.4% 1,888 4.1% 45,709 100.0% 7,567 16.6% 13,619 29.8% 0 0.0% 359 0.8% 24,164 52.9% 45,709 100.0% 2012	AMT % 10,114 22.1% 16,598 36.3% 28 0.1% 17,081 37.4% 1,888 4.1% 45,709 100.0% 7,567 16.6% 13,619 29.8% 0 0.0% 359 0.8% 24,164 52.9% 45,709 100.0% 2012	AMT % 13,353 27.2% 17,748 36.1% 17 0.0% 15,898 32.3% 2,140 4.4% 49,155 100.0% 9,980 20.3% 12,107 24.6% 0 0.0% 891 1.8% 26,177 53.3% 49,155 100.0% 2013	AMT % 13,353 27.2% 17,748 36.1% 17 0.0% 15,898 32.3% 2,140 4.4% 49,155 100.0% 9,980 20.3% 12,107 24.6% 0 0.0% 891 1.8% 26,177 53.3% 49,155 100.0% 2013	AMT % 21,501 36.4% 19,047 32.2% 0 0.0% 15,992 27.1% 2,529 4.3% 59,068 100.0% 15,236 25.8% 14,154 24.0% 0 0.0% 1,285 2.2% 28,393 48.1% 59,068 100.0% 2014	AMT % 21,501 36.4% 19,047 32.2% 0 0.0% 15,992 27.1% 2,529 4.3% 59,068 100.0% 15,236 25.8% 14,154 24.0% 0 0.0% 1,285 2.2% 28,393 48.1% 59,068 100.0% 2014	AMT % 27,258 43.6% 18,312 29.3% 0 0.0% 14,418 23.1% 2,537 4.1% 62,525 100.0% 17,740 28.4% 13,347 21.3% 0 0.0% 1,670 2.7% 29,768 47.6% 62,525 100.0% 2015	AMT % 27,258 43.6% 18,312 29.3% 0 0.0% 14,418 23.1% 2,537 4.1% 62,525 100.0% 17,740 28.4% 13,347 21.3% 0 0.0% 1,670 2.7% 29,768 47.6% 62,525 100.0% 2015	2016
	AMT 10,114 16,598 28 17,081 1,888 45,709 7,567 13,619 0 359 24,164 45,709		AMT 13,353 17,748 17 15,898 2,140 49,155 9,980 12,107 0 891 26,177 49,155		AMT 21,501 19,047 0 15,992 2,529 59,068 15,236 14,154 0 1,285 28,393 59,068		AMT 27,258 18,312 0 14,418 2,537 62,525 17,740 13,347 0 1,670 29,768 62,525		AMT % 30,247 47.8% 18,950 29.9% 0 0.0% 11,321 17.9% 2,782 4.4% 63,301 100.0% 16,913 26.7% 14,871 23.5% 0 0.0% 1,951 3.1% 29,566 46.7% 63,301 100.0%
Asset Turnover (x) Fixed Asset Turnover (x) ROA (%) ROE (%) Current Ratio (%) Debt / Asset Ratio (%) Net Debt / Equity Ratio (%) Book Value Per Share(NT$)	0.87 2.41 6.4% 12.1% 126% 47% -11% 46.0		0.86 2.47 5.0% 9.4% 141% 47% -13% 49.8		0.78 2.66 4.9% 9.7% 138% 52% -22% 54.0		0.71 2.85 4.7% 9.7% 147% 52% -32% 56.6		0.69 3.38 5.7% 12.0% 155% 53% -45% 56.3

Unit: Million NTD Net Income Depreciation & Amortization Others Cash Flow from Operations Acquisition of Fixed Assets Decrease (Increase) in Investments Others Cash Flow from Investments Increase (Decrease) in Loans Cash Dividends Paid Others Cash Flow from Financing Foreign Exchange Translation Increase (Decrease) in Cash Cash at the End of the Year*	2011 (GAAP) 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 (IFRS*) 3,717 3,728 -3,157 4,288 -5,755 -28 -75 -5,858 2,662 -1,892 -15 754 -258 -1,074 10,114	2013 (IFRS*) 2,892 3,638 -2,321 4,208 -2,169 0 -47 -2,217 2,213 -1,314 36 935 313 3,239 13,353	2014 (IFRS*) 3,240 2,816 106 6,162 -2,500 255 -107 -2,353 4,624 -1,183 -9 3,432 907 8,148 21,501	2015 (IFRS*) 3,531 3,080 496 7,106 -2,299 0 71 -2,228 2,048 -1,445 -21 582 298 5,757 27,258	2016 (IFRS*)
						4,477 2,749 1,143
						8,369
						-1,056 -136 -320
						-1,512
						-604 -1,708 102
						-2,209
						-1,658 2,989
						30,247

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