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YAGEO Interim / Quarterly Report 2019

Nov 18, 2019

52008_rns_2019-11-18_82f43c4b-559e-4712-8f20-2af9ed1ba6dc.pdf

Interim / Quarterly Report

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Yageo Corporation

國巨公司

2019年11 月

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免責聲明

This announcement is not, and is not intended to be, an offer of securities for sale in the United States. Securities may not be offered or sold in the United States ab sent r egistrat ion o r an ex e mp tio n fro m r eg ist rat i on und er the U.S. Securities Act of 1933. Any public offering of securities to be made in the United States must be made by means of a prospectus containing detailed information about the issuer of the securities and its management as well as financial statements. There is not, and is currently not intended to be, any public offering of securities by Yageo Corporation in the United States.

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世界級的被動元件領導供應商

  • Yageo Corporation is a world leading total service provider of passive electronic components, with 38 sales/service offices in 18 countries, 19 manufacturing sites, 6 JIT logistic hubs and 14 R&D centers worldwide.

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  • Yageo offers a broad range of electronic components with resistors, capacitors, wireless components and modules, transformer, connector, inductor, protective components and cable systems. In the recent years, Yageo’s product technologies mainly focus on ultra small size, high capacitance, high power, high voltage, high reliability, low resistance, and low inductance.

  • Yageo products are widely used in all kinds of electronic applications, including automotive, industrial, 5G, IoT, AR/VR, telecommunications, power supplies, alternative energy, computers and peripherals, and consumer electronics.

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世界級的被動元件領導供應商

  • As total passive component solution provider, Yageo offers innovative global logistics, electronic data interchange, design-in services, web-based self-helped platforms, and online B2B interfaces with advanced IT solutions and other ease-of-doing-business tools.

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  • Yageo has a strong and diversified customer profile, including global leading EMS, ODM/OEM, distributors.

  • Yageo currently is the world No.1 in chip-resistors and No. 3 in MLCCs. With the reputable 40-year-old brand, Yageo is a truly global company with leading position in Greater China, Europe, and ASEAN.

  • Yageo officially finished the acquisitions of BrightKing Electronics, a supplier of circuit protection components, in September 2018 and Pulse Electronics, a global comprehensive supplier of electronic components, in December 2018, respectively.

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世界級的被動元件領導供應商

  • Yageo achieved another record high revenue (NTD$ 77.16 billion) in 2018, much higher than previous record high in 2017 (NTD$ 32.26 billion). As of October, 2019, its total market capitalization exceeded NTD$ 134.4 billion.

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  • Yageo delivered 74.6% of ROE and achieved 47.8% of Operating Margin with EPS of NT$80.3 in 2018.

  • Yageo was added to MSCI Global Standard Index (MSCI Taiwan Index), effective from December 1, 2017.

  • Yageo was added to FTSE/TWSE Taiwan 50 Index, effective from April 18, 2018, Taiwan Dividend+ Index, effective from December 21, 2018, and TWSE Taiwan Employment Creation 99 Index, effective from July16, 2019.

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完整產品線滿足各產業應用所需

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Automotive Industrial Mobile Alternative Energy Notebook/Tablet
Power Lighting Medical Home Appliances Networking Payment & Sales
Yageo Passive Components
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Yageo Passive Components
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客戶涵蓋全球領導廠商 – 多元客戶群

U.S Europe Asia

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產量位居全球前三大

- Chip Resistors Ranked No. 1

- MLCCs Ranked No. 3

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3Q19 合併營收比重
By Product By Region
MLCC US
30% 5%
Europe
15%
Greater China
54%
Wireless and
Advanced
Components
31%
Chip
Resistor
31%
Asia/ Rest
26%
Thru-hole
Protective
Resistor
6%
2%
NT$ 10,317 M
QoQ +7.7%
YoY -66.4%
Above 3Q19 information is eviewed.
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9 9
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3Q19 合併營收比重
By Channel By Segment
Automotive
13%
Direct Sales
24%
Telecom
27%
Distributors
41%
Industrial
30%
Computer
25%
EMS
35%
Consumer
5%
NT$ 10,317 M
QoQ +7.7%
YoY -66.4%
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* Above 3Q19 information is reviewed.

* Based on the company’s estimation from distributors, direct sales, and EMS customers.

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YTD19 合併營收比重
By Product By Region
MLCC US
32% 7%
Europe
22% Greater
China
Wireless and
44%
Advanced
Components
32%
Chip Resistor
28%
Asia/ Rest
27%
Thru-hole
Resistor
Protective
2%
6%
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NT$ 31,291 M YoY -48.7%

* Above YTD19 information is reviewed.

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YTD19 合併營收比重合併營收比重
By Channel By Segment
Automotive
Direct Sales 15% Telecom
23% 24%
Distributors
40%
Computer
Industrial 24%
31%
EMS
37%
Consumer
6%
NT$ 31,291 M
YoY -48.7%
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YTD19 合併營收比重合併營收比重

* Above YTD19 information is reviewed.

* Based on the company’s estimation from distributors, direct sales, and EMS customers.

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3Q2019 合併損益表

Yageo Group Consolidation (reviewed)

Amount in NTD Million

Net Sales
Cost of Sales
Gross Profit
Operating Expenses
Operating Income
Non-operating Items
Income Before Tax
Income Tax
Net Income
Noncontrolling Interests
Net Income (attributable to the parent)		 Amount
%
9,580 100.0
(6,459) (67.4)
3,121
32.6
(1,442) (15.0)
1,679
17.5
622
6.5
2,301
24.0
(881)
(9.2)
1,420
14.8
(3)
(0.0)
1,417
14.8
3.34
2Q19		 Q-Q
Change %		 Y-Y
Amount
%
Change %
30,666 100.0
(66.4)
(9,414) (30.7)
24.3
21,252
69.3
(38.3)
(4,300) (14.0)
(0.8)
16,953
55.3
(39.1)
381
1.2
7.7
17,333
56.5
(31.5)
(3,033)
(9.9)
5.7
14,300
46.6
(25.8)
203
0.7
(1.7)
14,503
47.3
(27.5)
34.35
(86.0)
3Q18
Amount
%
10,317 100.0
(7,123) (69.0)
3,194
31.0
(1,527) (14.8)
1,667
16.2
918
8.9
2,585
25.1
(436)
(4.2)
2,150
20.8
(105)
(1.0)

2,044
19.8
4.81
3Q19		 Amount
%
2Q19
9,580 100.0
(6,459) (67.4)		 7.7
(10.3)
3,121
32.6
(1,442) (15.0)		 (1.6)
0.2
1,679
17.5
622
6.5		 (1.4)
2.4
2,301
24.0
(881)
(9.2)		 1.0
5.0
1,420
14.8
(3)
(0.0)		 6.0
(1.0)
1,417
14.8		 5.0
EPS 3.34 44.0

* The financial data is based on T-IFRS

* Q-Q/Y-Y Change of Net Sales, Cost of Sales, EPS is in %, the rest of Changes is in % point.

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YTD2019 合併損益表

Yageo Group Consolidation (reviewed)

Net Sales
Cost of Sales
Gross Profit
Operating Expenses
Operating Income
Non-operating Items
Income Before Tax
Income Tax
Net Income
Noncontrolling Interests
Net Income (attributable to the parent)
EPS		 Amount
%
31,291
100.0
(19,867)
(63.5)
11,424
36.5
(5,078)
(16.2)
6,345
20.3
1,671
5.3
8,016
25.6
(1,857)
(5.9)
6,159
19.7
(108)
(0.3)
6,051
19.3
14.26
1Q-3Q2019		 Y-Y
Amount
%
Change %
60,937
100.0
(48.7)
(21,680)
(35.6)
8.4
39,257
64.4
(27.9)
(6,901)
(11.3)
(4.9)
32,356
53.1
(32.8)
2,357
3.9
1.5
34,713
57.0
(31.3)
(5,307)
(8.7)
2.8
29,407
48.3
(28.6)
155
0.3
(0.6)
29,561
48.5
(29.2)
70.29
(79.7)
1Q-3Q2018
Amount
%
1Q-3Q2019
31,291
100.0
(19,867)
(63.5)
11,424
36.5
(5,078)
(16.2)
6,345
20.3
1,671
5.3
8,016
25.6
(1,857)
(5.9)
6,159
19.7
(108)
(0.3)
6,051
19.3
14.26

* Q-Q/Y-Y Change of Net Sales, Cost of Sales, EPS is in %, the rest of Changes is in % point.

* The financial data is based on T-IFRS

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3Q2019 營業外收入及支出

Yageo Group Consolidation (reviewed)

Amount in NTD Million

_ The financial data is based on T-IFRS_
Foreign Exchange Gain (Loss)-Realized
Foreign Exchange Gain (Loss)-Unrealized
Market price changes-Unrealized
Net Interest Income (Expense)
Investment Income on Equity-Method
Other Investment Income
Gain/(Loss) on Sale of Investments
Others*		 2Q19 Q-Q
Change %
15

3Q18
Y-Y
Change %
44
592.4
457
(25.7)
(556)
100.9
143
0.7
192
(73.1)
65
13.2
(1)
2,610.0
37
(187.6)
381
141.1
3Q19
304
340
5
144
51
74
32
(32)		 (7)
272
(14)
252
36
1
0
81		 4,592.7
24.8
135.6
(42.9)
43.0
7,300.0
7,900.0
(139.5)
918 622 47.6
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3Q2019 合併資產負債表

Amount in NTD Million

Yageo Group Consolidation (reviewed)

_ The financial data is based on T-IFRS_
Cash and cash equivalents
Notes & Accounts Receivable
Inventory
Other Current Assets
Long-Term Investment
Net Properties
Other Assets
Total Assets
Short-Term Loans
Accounts Payable
Other Current Liabilities
Long-Term Loans
Other Liabilities
Total Liabilities
Total Equity
Total Liabilities & Equity*		 2Q19
Amount
37,894
9,118
8,264
1,499
15,850
20,780
27,836
121,240
33,327
5,603
30,017
6,000
1,430
76,377
44,863
121,240		 Q-Q
Change %
(13.2)
3.4
(24.2)
21.9
(21.0)
(1.3)
0.5
(8.1)
(19.3)
(7.1)
1.3
(63.8)
(16.6)
(13.8)
1.5
(8.1)
16

3Q18
Y-Y
Amount
Change %
36,471
(9.8)
30,748
(69.3)
7,643
(18.0)
2,743
(33.4)
17,637
(29.0)
19,408
5.7
6,620
322.6
121,270
(8.1)
26,993
(0.4)
9,402
(44.7)
16,450
84.8
11,800
(81.6)
645
85.1
65,290
0.9
55,980
(18.6)
121,270
(8.1)
3Q19
Amount
32,891
9,424
6,267
1,827
12,516
20,511
27,973
111,409
26,879
5,203
30,407
2,170
1,193
65,852
45,557
111,409
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* The financial data is based on T-IFRS

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3Q2019 合併現金流量表

Amount in NTD Million

Yageo Group Consolidation (reviewed)

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3Q19 2Q19 Q-Q 3Q18 Y-Y
Amount Amount Change % Amount Change %
3,719 (618) 701.9 10,301 (63.9)
2,394 (3,118) 176.8 (1,620) 247.7
(10,235) 1,827 (660.2) (6,837) (49.7)
(881) 302 (391.6) (432) (104.0)
(5,003) (1,607) (211.4) 1,412 (454.3)
37,894 39,501 (4.1) 35,059 8.1
32,891 37,894 (13.2) 36,471 (9.8)
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17 17
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Net Cash Provided by (Used in) Operating Activities

Net Cash Provided by (Used in) Investing Activities Net Cash Provided by (Used in) Financing Activities

FX Difference

Net Increase (Decrease) in Cash and Cash Equivalents Cash and Cash Equivalents , Beginning of Period Cash and Cash Equivalents , End of Period

* The financial data is based on T-IFRS

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3Q2019 營運資金管理
Yageo Group Consolidation (reviewed) Amount in NTD Million
Q-Q Y-Y
3Q19 2Q19 3Q18
Change % Change %
Accounts Receivable 9,424 9,118 3.4 30,748 (69.3)
DSO 83 93 10.7 95 13.0
Inventory 6,267 8,264 (24.2) 7,643 (18.0)
DOH-Total Company 92 134 31.5 71 30.1
DOH-R+C Finished Goods (Qty) 86 144 40.0 63 (37.4)
Accounts Payable 5,203 5,603 7.1 9,402 44.7
DPO 90 98 (7.9) 118 (23.9)
Net Working Capital 10,489 11,779 (11.0) 28,989 (63.8)
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Yageo Group Consolidation (reviewed)

* The financial data is based on T-IFRS

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Thank you

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