Catcher Technology Co., Ltd. - Earnings Release 2020

Catcher Technology

2020 Q3 Earnings Results

2020/10

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CATCHER confidential

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”, “intends”, “plans”, “believes”, “seeks”, or “will”.

• Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to different materially from those contained in any forward-looking statement. Such factors include, but are not limited to: our highly competitive environment; the cyclical nature of our business; our ability to develop new products; and our successful execution in new business developments.

CATCHER confidential

3Q20 Financial Summar y

Rev. NT$23.7bn, +5.0% q-q due to sound NB/tablet growth driven by work from home/home education; -14.9% y-y due to high base on new smartphone model shipment.
GM 28.9%, +6.0% q-q/ +5.7% y-y mainly driven by revenue growth, product mix
- or cost control.
OPM 22.7%, +7.7% q-q/ +6.7% y-y thanks to better GM and lower OPEX.
NPBT 3.51bn, -23.9% q-q/ -40.8% y-y because of 2.43bn FX losses impacted
- by US dollar depreciation.
One-off tax expenses of 2.3bn due to capital repatriation.
NPAT(attributable to parent company) 569mn, -79.4% q-q/ -83.3% y-y.
Basic EPS NT$0.75 in 3Q20 vs NT$ 3.63 in 2Q20/NT$4.41 in 3Q19.
CAPEX 338mn in 3Q20 vs 550mn in 3Q19.
D&A 2.67bn in 3Q20 vs 2.68bn in 2Q20/3.0bn in 3Q19.
EBITDA 8.05bn in 3Q20 vs 6.07bn in 2Q20/7.47bn in 3Q19.
•EBITDA = Operating Profit + Depreciation + Amortization
CATCHER confidential

9M20 Financial Summar y

Rev. NT$63.8bn, +6.9% y-y with demand growth across major product lines.
GP 16.3bn, +15.1% y-y; GM 25.5%, +1.8% y-y thanks to revenue growth,
product mix and cost control.
OP 11.6bn, +38.6% y-y; OPM 18.2%, +4.2% y-y due to better GM and lower
OPEX.
NPBT 13.5bn, -10.6% y-y due to 2.79bn FX losses impacted by US dollar
depreciation; Margin 21.2%, -4.1% y-y.
NPAT(attributable to parent company) 7.3bn, -7.2% y-y; Margin 11.4%, -1.7% y-y.
Basic EPS NT$9.49 in 9M20 vs NT$ 10.15 in 9M19.
CAPEX 1.05bn in 9M20 vs 3.14bn in 9M19.
D&A 8.2bn in 9M20 vs 9.3bn in 9M19.
EBITDA 19.8bn in 9M20 vs 17.7bn in 9M19.
•EBITDA = Operating Profit + Depreciation + Amortization

CATCHER confidential

3Q20 vs. 2Q20 P/L

	3Q20	2Q20
(In NTD mn)	Amount %	Amount %	qoq
Revenue	23,668 100.0%	22,538 100.0%	5.0%
GP	6,835 28.9%	5,165 22.9%	32.3%
OPEX	1,455 6.1%	1,782 7.9%	-18.3%
OP	5,380 22.7%	3,384 15.0%	59.0%
Non-OP	- 1,866 -7.9%	1,232 5.5%	n.m.
NPBT	3,514 14.8%	4,615 20.5%	-23.9%
NPAT (attributable to parent company)	569 2.4%	2,766 12.3%	-79.4%
Basic EPS (NTD)	$ 0.75	$ 3.63	-$ 2.88
EBITDA	8,054 34.0%	6,068 26.9%	32.7%

`※` FX losses was NT$2,432mn in 3Q20

CATCHER confidential

3Q20 vs. 3Q19 P/L

	3Q20	2Q19
(In NTD mn)	Amount %	Amount %
Revenue	23,668 100.0%	27,817 100.0%
GP	6,835 28.9%	6,435 23.1%
OPEX	1,455 6.1%	1,970 7.1%
OP	5,380 22.7%	4,466 16.1%
Non-OP	- 1,866 -7.9%	1,473 5.3%
NPBT	3,514 14.8%	5,938 21.3%
NPAT (attributable to parent company)	569 2.4%	3,399 12.2%
Basic EPS (NTD)	$ 0.75	$ 4.41
EBITDA	8,054 34.0%	7,469 26.8%

`※` FX losses was NT$2,432mn in 3Q20

CATCHER confidential

9M20 vs. 9M19 P/L

	9M20	9M19
(In NTD mn)	Amount %	Amount %	yoy
Revenue	63,823 100.0%	59,695 100.0%	6.9%
GP	16,291 25.5%	14,149 23.7%	15.1%
OPEX	4,694 7.4%	5,783 9.7%	-18.8%
OP	11,597 18.2%	8,365 14.0%	38.6%
Non-OP	1,910 3.0%	6,739 11.3%	-71.7%
NPBT	13,508 21.2%	15,104 25.3%	-10.6%
NPAT (attributable to parent company)	7,257 11.4%	7,823 13.1%	-7.2%
Basic EPS (NTD)	$ 9.49	$ 10.15	-$ 0.66
EBITDA	19,769 31.0%	17,658 29.6%	12.0%

`※` FX losses was NT$2,786mn in 9M20

CATCHER confidential

Revenue & GM

- 5,000 10,000 15,000 20,000 25,000 30,000 35,000	16,843 17,524 20,731 24,016 14,580 18,500 27,422 32,794 20,406 20,755 25,090 29,165 15,804 16,075 27,817 31,933 17,616 22,538 23,668 42.8% 36.1% 42.6% 50.0% 49.0%48.1% 42.6% 43.5% 41.7% 42.3% 42.4% 36.7% 25.4%23.1% 23.1%25.4% 24.4% 22.9% 28.9% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 Revenue (NT$ mn) GM

CATCHER confidential

OP & OPM

- 2,000 4,000 6,000 8,000 10,000 12,000 14,000	5,804 4,906 6,956 9,824 5,352 7,049 9,165 11,867 6,6546,719 8,287 7,944 2,432 1,468 4,466 5,744 2,834 3,384 5,380 34.5% 28.0% 33.6% 40.9% 36.7% 38.1% 33.4% 36.2% 32.6% 32.4% 33.0% 27.2% 15.4% 9.1% 16.1% 18.0% 16.1%15.0% 22.7% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 ( mn)

CATCHER confidential

Consolidated Balance Sheet

(In NT$ mn)	3Q20	2Q20	3Q19
Total Assets	244,114 **100% **	241,951 **100% **	252,051 *100%*
Cash	91,165 37%	119,354 49%	66,594 26%
Current Asset	174,763 72%	196,331 81%	197,769 78%
Fixed Asset	34,318 14%	35,987 15%	44,255 18%

Total Liabilities	100,367 **41% **	98,787 **41% **	102,542 *41%*
Current Liab.	99,151 41%	96,907 40%	101,392 40%
Long-term Liab.	1,216 0%	1,880 1%	1,150 0%

Shareholders Equity	143,663 **59% **	143,027 **59% **	149,392 *59%*
Total Liab. & Equity	244,114 100%	241,951 100%	252,051 100%
BVPS	187.8	186.6	193.9

Weighted Average Shares (mn)	764.936	766.614	770.391

CATCHER confidential

Consolidated Cash Flow

(NT$ mn)	9M20	9M19 29,305 11,188 9,293 28,820 - 3,144 - 2,733 - 1,977 15 37,289 66,594 17,658 8,044
Beginning Balance	69,017
Cash from operating activities	17,289
Depreciation & Amortization	8,171
Cash from investing activities	11,201
Capital Expenditure	- 1,050
Cash from financing activities	- 5,158
Short-term & Long-term loans	- 2,738
FX Impact	- 1,184
Change in cash	22,147
Ending Balance	91,165

EBITDA	19,769
Free Cash Flow	16,239

CATCHER confidential

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Revenue Trend (2000 - 2019)

Revenue (NT$ bn)

120

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0
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93.30[95.42 ] 91.63

CAGR=25.7%

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82.41
79.11
55.28
43.25
35.91 [37.03 ]
21.85
15.14 [18.09 ] [19.05 ] [16.99 ]
9.59
1.19 1.01 [1.85 3.42 5.01 ]
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
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CATCHER confidential

EPS Trend (2000 - 2019)

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36.31
35
32.61
30 28.58 28.35
25
23.52
20
18.38
15.68
14.93 14.4 14.63
15 13.93
13.29
9.25
10
7.25
6.34 6.66
5.01
4.3
5
2.4 2.44
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
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14.63
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CATCHER confidential

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Catcher Technology – Innovative Leader in Casing

Investor Relations Kristen Fang 方文妍 Teresa Wang 王彤 +886-2-2701-5900 # 2811 +886-2-2701-5900 # 2812

[email protected] http://www.catcher-group.com

CATCHER confidential

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Catcher Technology Co., Ltd. Earnings Release 2020

52109_rns_2020-11-06_c99b8916-38a5-487f-b23d-f55b10f6ce19.pdf