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SYNNEX TECHNOLOGY INTERNATIONAL CORPORATION Interim / Quarterly Report 2023

Nov 9, 2023

52019_rns_2023-11-09_a6b39e1c-95c0-4a89-b0e3-7542d92bad83.pdf

Interim / Quarterly Report

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2023年第三季營運成果 聯強國際股份有限公司

中華民國 112 年 11 月

免責聲明

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本簡報係由聯強國際股份有限公司(以下簡稱本公司)提供，本簡報可能包含前瞻性陳述，當中涉及風險與不明朗因 素包括陳述本身的不確定性、風險、假設或其他因素如：經營上的改變、競爭環境、經濟情勢、法規變化、科技發 展與超出本公司管控等因素，皆可能導致本公司實際營運結果與上開前瞻性陳述有很大的差異。本公司不承擔因情 勢變更而即時更新或修正相關內容之義務。

本簡報的內容、陳述或主張非為買賣或提供買賣任何有價證券或金融商品的邀約，邀約之引誘或建議。本公司已盡 合理之注意，使本簡報於公開時無任何不真實或誤導。本公司及其各關係企業代表人或董事，均不對此使用或因他 人引用本份簡報資料、或其它因簡報資料導致的任何損害負擔任何責任。

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P2

SYNNEX Confidential

A USD$26B Hi-Tech Supply Chain A USD$26B Hi-Tech Supply Chain
Management Service Platform
Taiwan 1975 No.1
China 1982 No.3
Hong Kong 1982 No.1
Australia 1991 No.1
(New Zealand)
Indonesia 1975 No.1
Thailand 1988 No.1
Vietnam 1988 No.1
India / SA 1993 No.2
Middle East / Africa 1997 No.1
Turkey 1991 No.2
Across 51 markets, 400+ sales/logistics/service points
SYNNEX APAC : Taiwan (HQ), Hong Kong, China, Australia, New Zealand, Indonesia, Thailand, Vietnam, Indochina
P3 SYNNEX Confidential
Redington : India, Srilanka, Bangladesh, Middle East, Africa, Turkey, CIS

供應鏈服務平台

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Sales/PM Service
• Mgmt. Service Platform
• Solution Sell
• Channel & Market
Development
Logistics Service Finance Service
• Warranty Service • XaaS / Subscription
• Home/On-site Service • Credit / Payment
• Warehouse Mgmt. Service • Leasing / Installment
• Delivery Service • Project Financing
Professional Service
• Consulting Service
• Technical & Installation
Service
• Management Service
P4
SYNNEX Confidential
Brand / Supplier / Manufacture
SI / ISV / MSP / eRetailer / LFR / Shop
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Y23Q3 營運績效

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P5

SYNNEX Confidential

單位；新台幣十億元

季度合併營收趨勢

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Y19 Y20 Y21 Y22 Y23 $124
$112
$109
$103 $98
$101 $102
$95 $100
(-10%)
$97
(-8%)
$89 $93
$90
$87 (-12%) $87
$81
$78
$76
$69
Q1 Q2 Q3 Q4
Q1 Q2 Q3 Q4 Total
Y19 $81.3 $77.9 $87.4 $93.3 $340.0
Y20 $68.7 $75.9 $89.6 $99.9 $334.2
Y21 $86.7 $96.6 $101.6 $123.9 $408.8
Y22 $100.9 $103.4 $108.8 $111.5 $424.6
Y23 $88.6 $94.9 $98.2 $281.8
: Historical High
: Record High in Same Period SYNNEX Confidential
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P6

單位；新台幣十億元

產品別營收分佈圖

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||||||
|---|---|---|---|---|
|Y23Q3|Y23Q1~Q3|
|Revenue|YoY|Revenue|YoY|
|Consolidated|$98.2|-10%|$281.8|-10%|
|IT Commercial|26.6|-15%|81.9|-6%|
|IT Consumer|32.3|-9%|88.3|-19%|
|Telecom|4.8|23%|11.7|1%|
|Semiconductor|34.5|-9%|99.9|-5%|

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P7

SYNNEX Confidential

產品別季度營收趨勢

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x% Y23Q3 營收占比
產品別季度營收趨勢
單位 : 新台幣十億元
27% 33%
QoQ(%) Q3
IT-Comm -6
IT-Con +10
Teleco +53
5% 35%
Semi +1
: Historical High
P8 : Record High in Same Period SYNNEX Confidential
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區域別季度營收趨勢

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x% Y23Q3 營收占比
25% 14% 12%
10% 4% 35%
QoQ(%) CN ANZ TW ID HK Semi
Q3 +2 +3 +7 +20 -13 +1
: Historical High
P9 : Record High in Same Period SYNNEX Confidential
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合併損益表– Y23Q3&YTQ

單位 : 新台幣百萬元

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Y23Q3 YOY Y22Q3 Y23YTQ YOY Y22YTQ
Revenue $ 98,234 -10% $ 108,793 $ 281,784 -10% $ 313,012
Gross profit 4,143 -4% 4,331 12,601 -1% 12,744
Gross profit% 4.22% 3.98% 4.47% 4.07%
Operating expenses (2,227) -4% (2,326) (6,592) 2% (6,457)
Operating expenses% 2.27% 2.14% 2.34% 2.06%
Operating income 1,916 -4% 2,005 6,009 -4% 6,287
Operating income% 1.95% 1.84% 2.13% 2.01%
Others income/expense 510 8,610 1,508 10,602
JV Business Income * 464 -8% 507 1,195 -38% 1,917
Others 46 8,103 313 8,686
Pre-tax income & minority interest 2,426 -77% 10,616 7,517 -55% 16,889
Pre-tax income% 2.47% 9.76% 2.67% 5.40%
Income tax (580) (2,087) (2,026) (3,218)
Minority interest (income) loss (147) (167) (362) (386)
Net income $ 1,699 -80% $ 8,362 $ 5,129 -61% $ 13,285
Net income% 1.73% 7.69% 1.82% 4.24%
EPS (NT$) $ 1.02 $ 5.01 $ 3.07 $ 7.96
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  • JV Business in Redington India, Synnex Thailand and Synnex FPT which were accounted under equity method.

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  • : Historical High : Record Low in Same Period : Record High in Same Period : Second High in Same Period SYNNEX Confidential

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P10

營運資金指標

單位 : 新台幣十億元

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120.0 WC AR Inventories AP(net) Netdays AR days INV days AP days 120
100.0 100
80.0 80
60.0 60
40.0 40
20.0 20
0.0 0
Y21Q1 Y21Q2 Y21Q3 Y21Q4 Y22Q1 Y22Q2 Y22Q3 Y22Q4 Y23Q1 Y23Q2 Y23Q3
Y21Q1 Y21Q2 Y21Q3 Y21Q4 Y22Q1 Y22Q2 Y22Q3 Y22Q4 Y23Q1 Y23Q2 Y23Q3
WC 60.0 62.2 66.7 88.0 88.3 99.8 101.9 110.9 90.8 89.9 84.7
AR 59.2 64.9 68.2 85.5 73.4 76.1 75.1 79.2 70.6 73.8 72.8
Inventories 29.7 32.9 37.4 47.7 51.3 56.5 64.0 57.3 45.6 45.5 46.2
AP(net) 28.9 35.6 38.9 45.2 36.4 32.8 37.1 25.5 25.4 29.4 34.3
Netdays 67 60 61 55 81 85 87 90 104 85 83
AR days 66 59 59 55 70 64 64 65 76 68 70
INV days 33 30 32 31 46 50 52 51 56 46 45
AP days 32 29 30 32 35 29 29 26 28 29 32
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P11

SYNNEX Confidential

單位 : 新台幣十億元

庫存水位趨勢

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P12

SYNNEX Confidential

單位 : 新台幣十億元

財務結構指標

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|||||
|---|---|---|---|
|Y23Q3|Y22Q4|Y22Q3|
|Debt Ratio|66%|66%|68%|
|Net Int. bearing Debt / Equity|72%|106%|102%|
|Net Worth Per Share (NT$)|42.2|43.5|41.3|

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P13

SYNNEX Confidential

獲利能力趨勢

單位 : 新台幣十億元 /%

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OPI/GP Ratio

  • 3yr average 51%

  • - 10yr average 41%

Y23YTQ : 48%

Gross Margin

  • 3yr average 4.34%

    • 10yr average 3.86% Y23YTQ : 4.47%

Operating Expense

  • 3yr average 2.14%

    • 10yr average 2.25%

  • Y23YTQ : 2.34%

Operating Income

  • 3yr average 2.20%

    • 10yr average 1.61% Y23YTQ : 2.13%

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P14

SYNNEX Confidential

環境、社會與公司治理

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Sustainalytics
ESG Risk
<20 ： Low Risk
13.0
12.5
12.4
11.5
11.4
Source: ESG IR platform
Dec-19 Sep-20 Apr-21 Feb-22 Mar-23
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Sustainable SYNNEX Cherish the Earth

http://www.synnex-grp.com/en/esg-report

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P15

SYNNEX Confidential

環境、社會與公司治理

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5.1% Y22 vs.Y21 碳排(相同邊界下)

Sustainable SYNNEX Cherish the Earth https://www.synnex-grp.com/tw/esg-report

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P16

SYNNEX Confidential

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Group website https://www.synnex-grp.com/tw ESG https://www.synnex-grp.com/tw/esg-report

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P17

SYNNEX Confidential

Appendix

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P18

SYNNEX Confidential

合併資產負債表

單位 : 新台幣百萬元

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Item / Year Y23Q3 Y22Q4 Y22Q3
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Cash and cash equivalents
Financial Assets(listed stocks, financial
products...etc.)
Notes and accounts receivables - net
Inventories - net
Others
Current Assets
Long-term Investments
Fixed Assets - net
Other Assets
Total Assets
Short-term loans
Notes and accounts payables
Others
Current Liabilities
Other liabilities
Total Liabilities
Common stock
Capital reserve
Retained earnings
Others
Minority interest
Total Stockholders' Equity
Total Liabilities and Stockholders' Equity		 28,648
$ 22,238
72,814
46,228
9,349
179,277
16,911
12,383
4,133
212,704
$
68,567
$ 38,037
12,517
119,122
7,655
139,797
16,679
13,506
47,708
(7,550)
2,564
72,907
212,704
$		 14,482
11,514
$ 25,957
23,418
79,169
75,065
57,299
63,958
13,660
13,302
190,568
187,257
15,514
16,493
11,940
11,754
3,624
3,534
221,646
$
219,038
$
78,179
$ 77,444
$ 31,864
43,328
13,328
13,052
123,371
133,825
7,445
6,580
146,715
147,904
16,679
16,679
13,506
14,258
48,416
45,921
(6,038)
(8,036)
2,368
2,310
74,931
71,133
221,646
$
219,038
$

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P19

SYNNEX Confidential

股東價值

單位 : 新台幣十億元 / 元

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Net Income & ROE

Net Income :

  • 5yr CAGR 24%

  • 15yr CAGR 12%

  • ROE : 15yr average 15% Y23YTQ 10%

Book Value

  • 15yr CAGR 7%

  • Y22 : NT$72.6B & NT$43.5 /share

  • Y23Q3 : NT$70.3B & NT$42.2 /share

Dividend & Payout ratio

  • Y22 NT$3.5, Payout 37% - 15yr average NT$ 2.63

  • 15yr average Payout 63%

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P20

SYNNEX Confidential

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