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Catcher Technology Co., Ltd. — Earnings Release 2013
Oct 16, 2013
52109_rns_2013-10-16_efaab29f-609a-4d6e-9345-c53da3e42020.pdf
Earnings Release
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Catcher Technology – I nnova ti ve ea L d er i n C as i ng
2013 Q2 Earnings Conference
Investor Relations 20130805
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CATCHER
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Disclaimer
This presentation contains “forward-looking statements”that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “expects” , “anticipates”, or “will”. “intends”, “plans”, “believes”, “seeks”,
Forward-looking statements involve inherent risks and uncertainties. We caution that a number of you important factors could cause actual results to different materially from those contained in statement. Such any forward-looking factors but are not limited to: our include, highly competitive the nature of our our environment; cyclical business; ability to develop new products; and our successful execution in new business developments.
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2Q13 Business Review
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Catcher Confidential 2013
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Consolidated Balance Sheet
* IFRS
| (NTD MM) | 2Q13 | % | 1Q13 | % | 2Q12 | % |
|---|---|---|---|---|---|---|
| Total Assets | 99,749 | 100% | 110,420 | 100% | 95,030 | 100% |
| Cash | 34,408 | 35% | 47,015 | 42% | 40,147 | 42% |
| Current Asset | 60,640 | 61% | 74,331 | 67% | 61,310 | 65% |
| Fixed Asset | 33,215 | 33% | 31,807 | 29% | 28,622 | 30% |
| 2,220 | 2.0% | 2,220 | 2.0% | 3,053 | 3.0% | |
| Total Liabilities | 32 478 , |
33% | 43 281 , |
39% | 38 730 , |
41% |
| Current Liabilities | 32,350 | 33% | 40,510 | 37% | 35,297 | 37% |
| Other Liabilities | 128 | 0% | 2,771 | 2% | 3,434 | 4% |
| 151 | 0.1% | 151 | 0.1% | 120 | 0.1% | |
| Shareholder Equity | 67,108 | 67% | 66,985 | 61% | 56,104 | 59% |
| Total Liab. & Equity | 99,749 | 100% | 110,420 | 100% | 95,030 | 100% |
| Book Value per share | $89.4 | $89.2 | $74.7 | |||
| Catcher Confidential 2013 | 4 |
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2Q 2013 Consolidated P/L
| * IFRS | * IFRS | * IFRS | ||||||
|---|---|---|---|---|---|---|---|---|
| (NTD MM) | 2Q13 | % | 1Q13 | % | QoQ | 2Q12 | % | YoY |
| Revenue | 10,460 | 100.0% | 9,232 | 100.0% | 13.3% | 9,646 | 100.0% | 8.4% |
| Gross Profit | 4,652 | 44.5% | 3,852 | 41.7% | 20.8% | 4,359 | 45.2% | 6.7% |
| Op Exp. | 1,025 | 9.8% | 922 | 10.0% | 11.2% | 1,020 | 10.6% | 0.5% |
| Op Profit | 3,627 | 34.7% | 2,930 | 31.7% | 23.8% | 3,339 | 34.6% | 8.6% |
| NPBT | 4,866 | 46.5% | 4,650 | 50.4% | 4.7% | 3,025 | 31.4% | 60.9% |
| NPAT | 3,636 | 34.8% | 3,922 | 42.5% | -7.2% | 1,515 | 15.7% | 139.6% |
| EPS (NTD) | $4.84 | $5.22 | -$0.38 | $2.02 | $2.82 | |||
| EBITDA | 4,828 | 4,134 | 16.8% | 4,348 | 11.0% |
- EBITDA = Operating Profit + Depreciation + Amortization
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2013 H1 Consolidated P/L
| (NTD MM) | 2013 H1 | % | 2012 H1 | % | YoY |
|---|---|---|---|---|---|
| Revenue | 19,692 | 100.0% | 18,302 | 100.0% | 7.6% |
| Gross Profit | 8,504 | 43.2% | 7,920 | 43.3% | 7.4% |
| Op Exp. | 1,947 | 9.9% | 1,949 | 10.6% | -0.1% |
| Op Profit | 6,557 | 33.3% | 5,971 | 32.6% | 9.8% |
| NPBT | 9,516 | 48.3% | 6,333 | 34.6% | 50.3% |
| NPAT | 7,558 | 38.4% | 4,255 | 23.3% | 77.6% |
| EPS (NTD) | $10.07 | $5.67 | |||
| Catcher Confidential 2013 | 6 |
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Quarterly Revenue
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(NT$ Million) Revenue x Gross Margin Rate
18000 60.0%
52.3%
15000 47.1% 46.3% 50.0%
40.0% 41.1% 45.2% 42.0% [44.5%] 41.7% 44.5%
12000 40.0%
10773
10460
9912
9646
9147 9232
8897 8656 8815
9000 30.0%
7096
6000 20.0%
3000 10.0%
0 0.0%
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13
Sales Revenue Gross Margin Rate (%)
Catcher Confidential 2013 7
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Operating Profit & Margins
Operating Profit & Margin Rate
(NT$ Million)
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50.0%
6000
42.1%
36.2% 37.6% 34.7% 40.0%
5000
34.6%
4533 31.9% [34.0%] 31.7%
30.4%
28.5%
4000 3627 30.0%
3222 3441 3341 3371
2930
2814
3000
2632
20.0%
2018
2000
10.0%
1000
0 0.0%
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13
Operating Profit Operating Margin Rate (%)
Catcher Confidential 2013 8
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Cash Flow
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* IFRS
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| (NTD MM) | 2013 H1 | 2012 H1 |
|---|---|---|
| Beginning Balance | 45,400 | 35,542 |
| Cash from operating activities | 11,733 | 6,089 |
| Capital expenditures | (3,169) | (2,840) |
| Cash Dividends | 0 | 0 |
| Short-term & Long-term loans | (13,244) | 1,438 |
| P d f GDR & b d rocee s rom on s |
0 | 0 |
| Others | (6,312) | 82 |
| Ending Balance | 34,408 | 40,147 |
| EBITDA | 8,962 | 7,984 |
| Free Cash Flow | 8,564 | 3,249 |
- EBITDA = Operating Profit + Depreciation + Amortization
*Free cash flow = Cash from operating activities – Capital expenditures
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Appendix
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Catcher Confidential 2013
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Annual Revenue (2000 ~ 2012)
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NT$ Billion
50
45
40
37.03
35.9
35
30 CAGR = 30.3%
25
21.85
20 18.09 [19.05]
16.99
15.14
15
9.59
10
5.01
5 3.4
1.85
1.19 1.01
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Sales Revenue
Catcher Confidential 2013 11
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Gross Margin & Net Profit after TAX ( 2000~ 2012 )
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Unit: NT Million ; %
16000
52.2%
50.5%
47.1% 50%
47.0%
14000 48.1%
43.3%
43.6%42.5%
41.5%
39.9%
12000
36.4% 10,909 40%
35.3% 10,665
10000
35.5%
30%
8000
7,216
6,470
6000
20%
4,361 4,447
3,797
4000 3,331
10%
1,735
2000
983
252 305 327
0 0%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Net Profit after Tax Gross Margin
Catcher Confidential 2013 12
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