Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

SYNNEX TECHNOLOGY INTERNATIONAL CORPORATION Interim / Quarterly Report 2022

Feb 16, 2023

52019_rns_2023-02-16_b84ca18c-457f-4942-8240-4540dd3a402c.pdf

Interim / Quarterly Report

Open in viewer

Opens in your device viewer

==> picture [700 x 215] intentionally omitted <==

2022 Q3 Results SYNNEX TECH. INTL. CORP.

November, 2022

Disclaimer

==> picture [704 x 5] intentionally omitted <==

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.

==> picture [121 x 22] intentionally omitted <==

P2

SYNNEX Confidential

Supply Chain Service Provider & Platform

==> picture [704 x 5] intentionally omitted <==

==> picture [29 x 38] intentionally omitted <==

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

==> picture [28 x 38] intentionally omitted <==

  • Technical & Installation Service

  • Management Service

==> picture [121 x 22] intentionally omitted <==

P3

SYNNEX Confidential

Y22Q3 Performance

==> picture [121 x 22] intentionally omitted <==

P4

SYNNEX Confidential

Y22Q3 Performance Snapshot

==> picture [704 x 5] intentionally omitted <==

==> picture [650 x 398] intentionally omitted <==

----- Start of picture text -----

Revenue Gross Margin Operating Income
7% -1% -14%
Y22Q3 NT$108.8B NT$4.3B / 3.98% NT$2.0B / 1.84%
JV Income Profit before Tax EPS
-14%
+15%
-40% (Ex. CNXC & TD SNX -15% +0%
(Ex. CNCX & TD SNX
Investment Income
Investment Income)
& nonrecurring profit)
NT$507M NT$10.6B / 9.76% PAT NT$8.4B / NT$5.01
ROE WC Days Free Cash Flow
52% 87 days +NT$0.7B
15yr avg. 15% Y21Q3 61 days / +26 days
----- End of picture text -----

==> picture [14 x 13] intentionally omitted <==

==> picture [121 x 22] intentionally omitted <==

: Historical High : Record High in Same Period

P5

SYNNEX Confidential

Y22YTQ Performance Snapshot

==> picture [704 x 5] intentionally omitted <==

==> picture [650 x 398] intentionally omitted <==

----- Start of picture text -----

Revenue Gross Margin Operating Income
10% 2% -4%
Y22YTQ NT$313.0B NT$12.7B / 4.07% NT$6.3B / 2.01%
JV Income Profit before Tax EPS
+1%
+29%
-16% (Ex. CNXC & TD SNX -13% -7%
(Ex. CNCX & TD SNX
Investment Income
Investment Income)
& nonrecurring profit)
NT$1,917M NT$16.9B / 5.40% PAT NT$13.3B / NT$7.96
ROE WC Days Free Cash Flow
28% 84 days -NT$10B
15yr avg. 15% Y21YTQ 63 days / +21 days
----- End of picture text -----

==> picture [14 x 13] intentionally omitted <==

==> picture [121 x 22] intentionally omitted <==

: Historical High : Record High in Same Period

P6

SYNNEX Confidential

Unit : NT$bn

Performance – Consolidate

==> picture [704 x 5] intentionally omitted <==

Y22Q3 : NT$108.8bn / YoY +7%

==> picture [658 x 252] intentionally omitted <==

----- Start of picture text -----

$50.0
$46.0
$42.0
$38.0
$34.0
$30.0
$26.0
$22.0
$18.0
----- End of picture text -----

==> picture [660 x 114] intentionally omitted <==

==> picture [14 x 13] intentionally omitted <==

==> picture [121 x 22] intentionally omitted <==

: Historical High : Record High in Same Period

P7

SYNNEX Confidential

Unit : NT$bn

Performance – By Product

==> picture [704 x 5] intentionally omitted <==

==> picture [295 x 182] intentionally omitted <==

==> picture [293 x 182] intentionally omitted <==

Y22Q3 Y22YTQ
Revenue YOY Revenue YOY
Consolidated
$108.8		 7% $313.0 10%
IT Commercial
31.3
IT Consumer
35.5
Telecom
3.9
Semiconductor
38.0		 14%
-8%
1%
20%		 87.4
108.8
11.5
105.3		 16%
1%
0%
17%

==> picture [121 x 22] intentionally omitted <==

P8

SYNNEX Confidential

x% Y22Q3 Revenue Share

Performance Trend – By Product

Unit : NT$bn

==> picture [704 x 5] intentionally omitted <==

==> picture [629 x 470] intentionally omitted <==

----- Start of picture text -----

29% 33%
3% 35%
: Historical High
: Record High in Same Period SYNNEX Confidential
----- End of picture text -----

P9

Performance Trend – By Country

x% Y22Q3 Revenue Share

==> picture [704 x 5] intentionally omitted <==

==> picture [694 x 468] intentionally omitted <==

----- Start of picture text -----

26% 13% 12%
9% 4% 35%
: Historical High
P10 : Record High in Same Period SYNNEX Confidential
----- End of picture text -----

P10

Performance Trend – JV Company

==> picture [704 x 5] intentionally omitted <==

==> picture [224 x 272] intentionally omitted <==

==> picture [224 x 272] intentionally omitted <==

==> picture [224 x 272] intentionally omitted <==

==> picture [14 x 13] intentionally omitted <==

==> picture [121 x 22] intentionally omitted <==

: Historical High : Record High in Same Period

P11

SYNNEX Confidential

Consolidated Income Statement – Y22Q3 & YTQ

Unit : NT$mn

==> picture [704 x 5] intentionally omitted <==

NT$M

==> picture [680 x 351] intentionally omitted <==

----- Start of picture text -----

Y22Q3 YOY Y21Q3 Y22YTQ YOY Y21YTQ
Revenue $ 108,793 7% $ 101,570 $ 313,012 10% $ 284,881
Gross profit 4,331 -1% 4,390 12,744 2% 12,529
Gross profit% 3.98% 4.32% 4.07% 4.40%
Operating expenses (2,326) 12% (2,068) (6,457) 8% (6,006)
Operating expenses% 2.14% 2.04% 2.06% 2.11%
Operating income 2,005 -14% 2,322 6,287 -4% 6,523
Operating income% 1.84% 2.29% 2.01% 2.29%
Others income/expense 8,610 10,118 10,602 12,818
JV Business Income * 507 -40% 850 1,917 -16% 2,278
Others 8,103 9,268 8,686 10,540
Pre-tax income & minority interest 10,616 -15% 12,440 16,889 -13% 19,341
Pre-tax income% 9.76% 12.25% 5.40% 6.79%
Income tax (2,087) (3,958) (3,218) (4,758)
Minority interest (income) loss (167) (134) (386) (362)
Net income $ 8,362 0% $ 8,348 $ 13,285 -7% $ 14,221
Net income% 7.69% 8.22% 4.24% 4.99%
EPS (NT$) $ 5.01 $ 5.00 $ 7.96 $ 8.53
----- End of picture text -----

  • JV Business in Concentrix, Redington India, Synnex Thailand and Synnex FPT which were accounted under equity method.

==> picture [14 x 13] intentionally omitted <==

==> picture [121 x 22] intentionally omitted <==

: Historical High : Record Low in Same Period : Record High in Same Period : Second High in Same Period

P12

SYNNEX Confidential

Working Capital

==> picture [704 x 5] intentionally omitted <==

==> picture [665 x 425] intentionally omitted <==

----- Start of picture text -----

1,200 WC AR Inventories AP(net) Netdays AR days INV days AP days 100
90
1,000
80
70
800
60
600 50
40
400
30
20
200
10
0 0
Y20Q3 Y20Q4 Y21Q1 Y21Q2 Y21Q3 Y21Q4 Y22Q1 Y22Q2 Y22Q3
NT$E Y20Q3 Y20Q4 Y21Q1 Y21Q2 Y21Q3 Y21Q4 Y22Q1 Y22Q2 Y22Q3
WC 486 662 600 622 667 880 883 998 1,019
AR 573 644 592 649 682 855 734 761 751
Inventories 245 309 297 329 374 477 513 565 640
AP(net) 332 291 289 356 389 452 364 328 371
Netdays 50 53 67 60 61 55 81 85 87
AR days 56 58 66 59 59 55 70 64 64
INV days 28 27 33 30 32 31 46 50 52
AP days 34 31 32 29 30 32 35 29 29
----- End of picture text -----

==> picture [121 x 22] intentionally omitted <==

P13

SYNNEX Confidential

Unit : NT$bn

Balance Sheet Key Index

==> picture [704 x 5] intentionally omitted <==

==> picture [329 x 332] intentionally omitted <==

==> picture [328 x 332] intentionally omitted <==

Y22Q3
Y21Q4
Y21Q3
Debt Ratio
68%
67%
66%
Net Int. bearing Debt / Equity
102%
88%
68%
Net Worth Per Share (NT$)
41.3
38.1
35.4

==> picture [121 x 22] intentionally omitted <==

P14

SYNNEX Confidential

Consolidated Balance Sheet

Unit : NT$mn

==> picture [704 x 5] intentionally omitted <==

==> picture [561 x 20] intentionally omitted <==

----- Start of picture text -----

Item / Year Y22Q3 Y21Q4 Y21Q3
----- End of picture text -----

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		 11,514
$ 23,418
75,065
63,958
13,302
187,257
16,493
11,754
3,417
218,921
$
77,444
$ 43,328
13,052
133,825
6,463
147,788
16,679
14,258
45,921
(8,036)
2,310
71,133
218,921
$		 7,053
10,343
$ 14,564
17,534
85,462
68,246
47,713
37,398
11,260
11,386
166,052
144,907
20,715
19,558
11,678
11,674
3,239
2,543
201,684
$
178,683
$
65,817
$ 58,271
$ 50,093
42,676
13,485
11,730
129,394
112,677
4,899
4,786
135,793
117,463
16,679
16,679
14,200
13,907
40,978
38,385
(8,247)
(9,916)
2,281
2,164
65,891
61,220
201,684
$
178,683
$

==> picture [121 x 22] intentionally omitted <==

P15

SYNNEX Confidential

Historical Performance

==> picture [704 x 5] intentionally omitted <==

EPS: - 3yr average $6.44 - 5yr average $5.39 - 10yr average $4.21 - 15yr average $4.02

==> picture [121 x 22] intentionally omitted <==

P16

SYNNEX Confidential

Profitability Trend

Unit : NT$bn / %

==> picture [704 x 5] intentionally omitted <==

==> picture [478 x 143] intentionally omitted <==

==> picture [478 x 144] intentionally omitted <==

==> picture [478 x 144] intentionally omitted <==

OPI/GP Ratio

  • 3yr average 47%

  • - 10yr average 40% Y22YTQ : 49%

Gross Margin

  • 3yr average 4.38%

    • 10yr average 3.81% Y22YTQ : 4.07%

Operating Expense

  • 3yr average 2.32%

    • 10yr average 2.27% Y22YTQ : 2.06%

Operating Income

  • 3yr average 2.07%

    • 10yr average 1.54% Y22YTQ : 2.01%

==> picture [121 x 22] intentionally omitted <==

P17

SYNNEX Confidential

Value Creation for Shareholder

Unit : NT$bn / NT$

==> picture [704 x 5] intentionally omitted <==

==> picture [478 x 143] intentionally omitted <==

==> picture [478 x 144] intentionally omitted <==

==> picture [478 x 144] intentionally omitted <==

Net Income & ROE Net Income: - 5yr CAGR 30% - 15yr CAGR 11% ROE : 15yr average 15% Y22YTQ 28% Book Value - 15yr CAGR 6% - Y21: NT$63.6B & NT$38.1 /share - Y22Q3: NT$68.8B & NT$41.3 /share Dividend & Payout ratio - Y21 NT$5.0, Payout 48% - 15yr average: NT$ 2.53 - 15yr average Payout 65%

==> picture [121 x 22] intentionally omitted <==

P18

SYNNEX Confidential

==> picture [352 x 40] intentionally omitted <==

Group website http://www.synnex-grp.com/en CSR http://www.synnex-grp.com/en/csr-report

==> picture [121 x 22] intentionally omitted <==

P19

SYNNEX Confidential

Appendix

==> picture [121 x 22] intentionally omitted <==

P20

SYNNEX Confidential

Company Overview

==> picture [121 x 22] intentionally omitted <==

P21

SYNNEX Confidential

A USD$25B Hi-Tech Supply A USD$25B Hi-Tech Supply Chain Chain
Management Service Provider
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

Redington : India, Srilanka, Bangladesh, Middle East, Africa, Turkey, CIS

P22

SYNNEX Confidential

Synnex APAC Cloud Inventory Footprint

==> picture [704 x 5] intentionally omitted <==

==> picture [721 x 406] intentionally omitted <==

----- Start of picture text -----

China 41
Taiwan 4
Hong Kong 3
Vietnam 4
Thailand 1
Indonesia 11
68 Warehouses
Australia 3
New Zealand 1
----- End of picture text -----

==> picture [121 x 22] intentionally omitted <==

P23

SYNNEX Confidential

Product Portfolio – Devices & Consumer

==> picture [704 x 5] intentionally omitted <==

==> picture [700 x 428] intentionally omitted <==

----- Start of picture text -----

Client Devices PC Components eSport / Gaming
Mobile Phones Peripheral / Accessory Smart Devices / Home Appliance
----- End of picture text -----

==> picture [121 x 22] intentionally omitted <==

P24

SYNNEX Confidential

Product Portfolio – Enterprise Solution

==> picture [704 x 5] intentionally omitted <==

==> picture [716 x 469] intentionally omitted <==

----- Start of picture text -----

Server & Storage Networking Data Center Infra. Cloud Services
Data Protection
Security
Productivity
Security Infra. L.F.D. & Printing
Analytics / BI
P25
SYNNEX Confidential
----- End of picture text -----

Product Portfolio – IC Component

==> picture [704 x 5] intentionally omitted <==

==> picture [700 x 425] intentionally omitted <==

----- Start of picture text -----

CPU / Chipset Storage Panel / Touch AIoT
Networking
LED
Memory Power
Software
STB
----- End of picture text -----

==> picture [121 x 22] intentionally omitted <==

P26

SYNNEX Confidential

==> picture [721 x 541] intentionally omitted <==

----- Start of picture text -----

Widespread & Downstream Channel Reach
1,200 cities & 85,000 channels
700 cities
14,000 channels
80 cities
100 cities
10,000 channels 35 cities
30,000 channels
9,000 channels
80 cities 63 cities
6,000 channels 4,800 channels
150 cities
5,200 channels
• Data Center Infra. • eSport Channel • IPC/AIoT
• Cloud Service • Apple Channel • Automotive 60 cities
• Solution VAR • Specialty Store • Surveillance 6,000 channels
• Software House • Brand Store • VR/AR/MR
• Security • Telco Shop • Healthcare
P27• Surveillance • CE Retailer SYNNEX Confidential • Networking
----- End of picture text -----

More from SYNNEX TECHNOLOGY INTERNATIONAL CORPORATION

Regulatory Filings 2026
Jun 25
Regulatory Filings 2026
Jun 25
Interim / Quarterly Report 2026
Jun 18
Interim / Quarterly Report 2026
Jun 18
Capital/Financing Update 2026
Jun 15
AGM Information 2026
Jun 12
AGM Information 2026
Jun 12
Regulatory Filings 2026
Jun 8
Regulatory Filings 2026
Jun 8
Director's Dealing 2026
Jun 2
View all filings →