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Catcher Technology Co., Ltd. — Interim / Quarterly Report 2017
Dec 6, 2017
52109_rns_2017-12-06_e2e2eb5c-716b-43c2-a80e-37471ad51cf5.pdf
Interim / Quarterly Report
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可成科技 (Catcher Technology)
2017 第三季營運成果說明
2017/11/07
免責聲明
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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.
2017 年第三季財務摘要
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-
營收274億台幣，季增48.2%、年增32.3%，創下歷年來季營收第一高 紀錄；主因是客戶推出之手機、筆電與平板電腦需求升溫。 -
毛利117億，季增31.1%、年增32.0%；毛利率42.6%，較上季減少5.5%、較去年同期持平。 -
營業利潤92億，季增30.0%、年增31.8%。營業利潤率33.4%，季減 。 -
4.7%
、年減0.2% -
稅前淨利108億，季增55.1%、年增71.7%，稅前淨利率39.4%，季增 。 -
1.8%
、年增9.1% -
稅後淨利(歸屬本公司業主)74億，季增80.5%、年增65.2%；稅後淨利 。 -
率26.9%，季增4.8%、年增5.3% -
基本每股盈餘9.59元，第二季為5.31元，去年第三季為5.80元。 -
資本支出52億，折舊與攤銷費用共29億。
2017 年前九個月財務摘要
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-
營收605億，年增9.8%；毛利277億，年增23.8%；營業利潤216億，年 增22.1%、稅前淨利208億，年增11.0%；稅後淨利136億，年增8.6%；EPS 17.62元，去年同期為16.21元。 -
毛利率45.8%，年增5.2%；營業利潤率35.6%，年增3.5%。稅前淨利 。 -
率34.5%，年增0.4%；稅後淨利率22.4%，年減0.3% -
資本支出96億；折舊與攤銷費用共84億。
合併損益表 (3Q17 vs. 2Q17)
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(In NTD mn)營業收入營業毛利營業費用營業利潤稅前淨利稅後淨利基本每股盈餘EBITDA |
金額% 27,422 100.0% 11,671 42.6% 2,506 9.1% 9,165 33.4% 10,801 39.4% 7,388 26.9% 9.59 $ 12,089 44.1% 3Q17 |
金額% qoq 18,500 100.0% 48.2% 8,904 48.1% 31.1% 1,854 10.0% 35.1% 7,049 38.1% 30.0% 6,964 37.6% 55.1% 4,094 22.1% 80.5% 5.31 $ 9,798 53.0% 23.4% 2Q17 |
|---|---|---|
• EBITDA = 營業利潤 + 折舊 + 攤銷
合併損益表 (3Q17 vs. 3Q16)
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(In NTD mn)營業收入營業毛利營業費用營業利潤稅前淨利稅後淨利基本每股盈餘EBITDA |
金額% 27,422 100.0% 11,671 42.6% 2,506 9.1% 9,165 33.4% 10,801 39.4% 7,388 26.9% 9.59 $ 12,089 44.1% 3Q17 |
金額% yoy 20,731 100.0% 32.3% 8,840 42.6% 32.0% 1,884 9.1% 33.0% 6,956 33.6% 31.8% 6,289 30.3% 71.7% 4,471 21.6% 65.2% 5.80 $ 9,740 47.0% 24.1% 3Q16 |
|---|---|---|
• EBITDA = 營業利潤 + 折舊 + 攤銷
合併損益表 (9M17 vs. 9M16)
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(In NTD mn)營業收入營業毛利營業費用營業利潤稅前淨利稅後淨利基本每股盈餘EBITDA |
金額% 60,502 100.0% 27,712 45.8% 6,146 10.2% 21,566 35.6% 20,849 34.5% 13,572 22.4% 17.62 $ 29,974 49.5% 9M17 |
金額% yoy 55,098 100.0% 9.8% 22,378 40.6% 23.8% 4,712 8.6% 30.4% 17,666 32.1% 22.1% 18,789 34.1% 11.0% 12,492 22.7% 8.6% 16.21 $ 26,064 47.3% 15.0% 9M16 |
|---|---|---|
• EBITDA = 營業利潤 + 折舊 + 攤銷
營業收入 & 毛利率
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27,422 60.0%
27,000 Revenue (NT$ mn) GM
50.0%
52.3%
44.9%
24,016
49.2% 23,479
50.0%
48.8% 47.4%
46.3% 49.0%
22,000 47.1% 45.2% 44.5% 44.5% 47.9% 46.5% 42.6% 48.1%
44.9% 41.7% 46.6% 20,731 42.6%
21,405 42.8%
42.0%
41.2% 41.7% 41.7% 41.3% 20,129 40.0%
40.0% 18,500
36.1%
17,400
17,014 16,843
17,000
17,524
14,529 14,580 30.0%
13,115 13,319
12,000
10,438
10,773
10,460 10,416
9,912 20.0%
9,646
9,147 9,232
8,897 8,656 8,815
7,096
7,000
10.0%
2,000 0.0%
1Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q142Q143Q144Q141Q152Q153Q154Q151Q162Q163Q164Q161Q172Q173Q17
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營業利潤 & 營業利潤率
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9,824 45.0%
42.1% OP (NT$ mn) OPM
9,500
40.9% 9,165
38.7% 40.0%
38.1%
37.6% 37.6% 37.3%
36.7%
8,500 36.2% 36.5% 35.6%
34.6% 34.7% 8,048
34.7% 34.0% 35.9% 34.5% 33.6% 3 3.4% 35.0%
7,625
31.9% 31.7% 31.4%
7,500 30.4% 7,509 34.3%
28.4% 31.1% 30.8% 6,956 7,049 30.0%
28.0%
6,500
6,202 [6,243 ]
25.0%
5,804
5,457
5,500 5,352
5,157
20.0%
4,906
4,533
4,500
4,113 15.0%
3,627
3,441
3,500 3,341 3,371
3,222 3,245 3,208 10.0%
2,930
2,814
2,632
2,500 5.0%
2,018
1,500 0.0%
1Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q142Q143Q144Q141Q152Q153Q154Q151Q162Q163Q164Q161Q172Q173Q17
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合併資產負債表
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(In NT$ mn)總資產現金及約當現金流動資產固定資產總負債流動負債長期負債母公司股東權益負債及股東權益總計每股淨值 |
3Q17 201,337 100% 18,350 9% 141,475 70% 48,717 24% 75,925 38% 72,063 36% 3,862 2% 125,329 62% 201,337 100% 162.7 |
2Q17 186,065 100% 31,170 17% 129,298 69% 47,264 25% 69,327 37% 64,581 35% 4,746 3% 116,598 63% 186,065 100% 151.3 |
3Q16 |
|---|---|---|---|
| 174,884 100% |
|||
| 51,017 29% 115,086 66% 52,765 30% 61,496 35% 55,226 32% 6,270 4% |
|||
| 113,172 65% 174,884 100% |
|||
| 146.9 |
• 每股淨值以 2017 年加權平均流動股數 770,391 仟股為計算基準
合併現金流量表
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合併現金流量表 |
||
|---|---|---|
| (NT$ mn) | 9M17 | 9M16 |
期初現金 |
29,667 | 65,679 |
營運活動之現金流入(出) |
18,287 | 9,597 |
折舊&攤銷 |
8,408 | 8,397 |
投資活動之現金流入(出) |
(32,237) | (28,248) |
資本支出 |
(9,607) | (6,266) |
融資活動之現金流入(出) |
2,230 | 7,564 |
長短期借款 |
2,280 | 8,046 |
匯率影響數 |
403 | (3,574) |
現金水位變化 |
(11,317) | (14,661) |
期末現金 |
18,350 | 51,018 |
| EBITDA | 29,974 | 26,064 |
自由現金流量 |
8,680 | 3,331 |
-
EBITDA=
營業利潤+折舊+攤銷 -
自由現金流量=營業活動之現金流入-資本支出
Executive Overview
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2017 Review:
-
Growth in all product lines: Smartphone, NB, Tablets.
-
、 -
Record high Q3 Rev., +48% qoq +32% yoy.
-
Oct. Rev. record high 12.39 bn; Strong growth in Q4 qoq/yoy.
-
Another year of solid execution & financial performance.
2018 Outlook:
-
Strong growth in all product lines; new applications on pipeline.
-
Larger capex to support growth.
-
Q1 only affected by less working days; Strong Q1/H1 yoy growth.
-
Expect another year of strong growth.
Executive Overview
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Sector Outlook:
-
More predictable in Material/Design.
-
More stable competition landscape.
-
Design trend favors to premium metal/ composite material.
-
Execution & Profitability => Long Term Sustainability.
Catcher’s Long Term Outlook:
-
All around capabilities matrix in Material science & processes.
-
Best Know-How, Automation, & Highly Vertical Integration .
-
Diversification into new customers, applications, projects, & units.
-
Visible growth in existing sectors for 3-5 yrs, and potential new biz.
-
Enhance integration & contribution.
-
Stable pricing & profitability.
-
Enhance shareholders return.
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參考附錄
營收趨勢 (2000 - 2016)
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Revenue (NT$ bn)
90
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82.41
79.11
80
70 CAGR=32.6%
60
55.28
50
43.25
40 37.03
35.91
30
21.85
19.05
20 18.09 16.99
15.14
9.59
10
5.01
3.4
1.19 1.01 1.85
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
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基本每股盈餘趨勢 (2000-2016)
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35
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32.61
30
28.58
25
23.52
20
18.38
15.68
14.93
15 14.4
13.93
13.29
10 9.25
7.25
6.66
6.34
5.01
5 4.3
2.4 2.44
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
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Catcher Technology
– Innovative Leader in Casing
Investor Relations Nicole Lee 李品瑛 +886-2-2701-5900 # 2812 - IR@catcher group.com http://www.catcher-group.com