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SYNNEX TECHNOLOGY INTERNATIONAL CORPORATION — Interim / Quarterly Report 2015
Sep 4, 2015
52019_rns_2015-09-04_c45a5d56-eb48-4566-a552-6addac9c0c73.pdf
Interim / Quarterly Report
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Q2 2015 Results SYNNEX TECH. INTL. CORP.
August, 2015
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Disclaimer
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IMPORTANT NOTICE
Synnex’s statements of its current expectations provided herein are forward-looking. These statements are subject to risks and uncertainties that might cause significant deviations from actual results, including but not limited to changes in business policy, possible fluctuations in economic situations, technology development, competition environment, and other circumstances beyond control. Synnex undertakes no obligation to update the forward-looking statements to reflect events or circumstances after the issuance of the statements.
Nothing contained herein constitutes an investment advice, offer or solicitation for the purchase or sale of any financial instrument. While reasonable care has been taken to ensure that the information contained herein is not untrue or misleading at the time of publication, Synnex makes no representation that it is accurate or complete. Neither Synnex nor any of its officers or employees shall be liable for any direct, indirect or consequential loss, damage, cost or expense incurred or arising from any use of the information contained herein.
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Synnex Group
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Worldwide Footprint US$14B (Y1506 YTM)
| OperatingHistory & Current Position.... |
|
|---|---|
| Taiwan 1975 No.1 USA 1992 No.3 HK / China 1997 No.2 Australia 1998 No.1 (New Zealand) Thailand 1999 No.1 India 2005 No.1 Middle East / Africa 2005 No.1 Turkey 2010 No.1 Japan 2010 No.3 Indonesia 2011 No.1 |
|
Across 30 countries, 200 offices, 60% world population
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Y15Q2 Financial Summary
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| NT$M |
|
|---|---|
| ~~Y15Q2~~ ~~Y14Q2~~ Revenue 73,178 $ 77,932 $ |
~~YoY (%)~~ -6% |
| Grossprofit 2,599 2,780 |
-7% |
| Operating expense (1,683) (1,679) |
0% |
| Operating income 915 1,101 |
-17% |
| Others income/expense 761 332 |
129% |
| Pre-tax income 1,676 1,433 |
17% |
| Net income 1,300 1,150 |
13% |
| EPS(NT$) 0.82 0.72 ~~Gross profit%~~ ~~3.6%~~ ~~3.6%~~ ~~Operating expense%~~ ~~2.3%~~ ~~2.2%~~ ~~Operating income%~~ ~~1.3%~~ ~~1.4%~~ |
14% |
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Y151H Financial Summary
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| NT$M |
|
|---|---|
| ~~Y151H~~ ~~Y141H~~ Revenue 143,415 $ 156,082 $ |
~~YoY (%)~~ -8% |
| Grossprofit 5,310 5,385 |
-1% |
| Operating expense (3,408) (3,396) |
0% |
| Operating income 1,902 1,989 |
-4% |
| Others income/expense 1,117 625 |
79% |
| Pre-tax income 3,019 2,614 |
15% |
| Net income 2,457 2,144 |
15% |
| EPS(NT$) 1.55 1.35 ~~Gross profit%~~ ~~3.7%~~ ~~3.5%~~ ~~Operating expense%~~ ~~2.4%~~ ~~2.2%~~ ~~Operating income%~~ ~~1.3%~~ ~~1.3%~~ |
15% |
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Quarterly & Yearly Earning Trend
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| ~~Y14Q1~~ | ~~Y14Q2~~ | ~~Y14Q3 ~~ | ~~Y14Q4~~ | ~~Y15Q1~~ | ~~Y15Q2~~ | |||
|---|---|---|---|---|---|---|---|---|
| ~~Margin Analysis(%)~~ | ||||||||
| Grossprofit | 3.3% | 3.6% | 3.5% | 3.5% | 3.9% | 3.6% | ||
| Operating expense | 2.2% | 2.2% | 1.9% | 2.3% | 2.5% | 2.3% | ||
| Operating income | 1.2% | 1.4% | 1.6% | 1.1% | 1.4% | 1.3% | ||
| Pre-tax income(PBT) | 1.5% | 1.8% | 2.1% | 2.0% | 1.9% | 2.3% | ||
| Net income(PAT) | 1.3% | 1.5% | 1.6% | 1.6% | 1.6% | 1.8% | ||
| EPS(NT$) | 0.63 | 0.72 | 0.94 | 0.87 | 0.73 | 0.82 | ||
| ~~2009~~ | ~~2010~~ | ~~2011~~ | ~~2012~~ | ~~2013~~ | ~~2014~~ | |||
| ~~Margin Analysis(%)~~ | ||||||||
| Grossprofit | 4.1% | 3.6% | 3.8% | 3.7% | 3.3% | 3.5% | ||
| Operating expense | 2.4% | 2.0% | 2.2% | 2.2% | 2.2% | 2.1% | ||
| Operating income | 1.6% | 1.6% | 1.6% | 1.5% | 1.2% | 1.3% | ||
| Pre-tax income(PBT) | 2.6% | 2.4% | 2.7% | 2.2% | 1.9% | 1.9% | ||
| Net income(PAT) | 2.2% | 2.0% | 2.3% | 1.9% | 1.6% | 1.5% | ||
| EPS(NT$) | 3.64 | 3.68 | 4.67 | 3.66 | 3.32 | 3.16 | ||
| ROE | 16% | 16% | 19% | 14% | 13% | 12% |
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Balance Sheet Key Index
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NT$ B
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Assets Liabilities & Equity
136.7 136.7
133.4 133.4
124.8 124.8
22.6
24.5
13.5
50.4
51.6
44.9
40.4 45.3
40.0
Cash Int. Bearing
Debt
AR 30.7 AP
24.2 28.0
33.3 31.2 32.6 Inventories 9.3 Other Debt
14.0 12.7
LT Investments Equity
11.1 13.5 12.1
FA & Others
46.2
41.7 41.1
26.5 24.0 24.2
Y14Q2 Y14Q4 Y15Q2 Y14Q2 Y14Q4 Y15Q2
Y14Q2 Y14Q4 Y15Q2
Debit Ratio 67% 66% 69%
Net Int. bearing Debt / Equity 75% 60% 66%
Net Worth Per Share (NT$) 25.8 28.5 25.3
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