Chailease Investor Conference

1H 2013

Investor Conference

August 7th, 2013

TWSE Code 5871

Disclaimer

2

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Agenda

Management Highlight

Segment Review

Q&A

Appendix

3

1H13 Performance Review

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Healthy portfolio growth with managed risk

Stable asset quality with sufficient provisions

Continued strong growth of net profit

4

YTD YOY

Consolidated 12% 28%

Taiwan 15% 27%

China 7% 34%

Thailand 15% 30%

Source: unaudited financial statements

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Agenda



Segment Review

Q&A

Appendix

5

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Total Assets Consolidated

Total Portfolio Total Asset

Unit: NT$ million

13%

6

9%


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Revenue & Net Margin Consolidated

8%

7

38%


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Net Profit & EPS Consolidated

8

7%

79%

3.17

1.53 1.64

(Retroactively adjusted)


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Cost To Income Ratio Consolidated

9 Note: Cost to Income Ratio=Opex Exclude provision expenses / Gross Profit Source: unaudited financial statements

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ROA & ROE Consolidated

ROA ROE

10 Source: unaudited financial statements

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Asset Quality Consolidated

Delinquency Ratio Provision Coverage Ratio

11

Notes:

Definitions of delinquencies:

• Check payments: overdue by 7 days or more

• Equipment leasing with non-check payments: overdue by 30 days or more

• Automobile installment sales in Thailand: overdue by 90 days or more

Excludes US securitization asset


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Agenda



Segment Review

Q&A

Appendix

12

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Total Loans & Receivables Taiwan

Unit: NT$ million

13

15%

27%


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Revenue & Net Profit Taiwan

Revenue Net Profit

Unit: NT$ million Unit: NT$ million


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Asset Quality Taiwan


15 Note: Company internal management report. is used for allowance to estimated loss calculation.

Note: Definitions of delinquencies




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Total Loans & Receivables China

Unit: NT$ million

16

7%

34%


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Revenue & Net Profit China

Revenue Net Profit



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Asset Quality China


18 Definitions of delinquencies



Note: Company internal management report. is used for allowance to estimated loss calculation.


(F)

(F)

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Total Loans & Receivables Thailand

19

Unit: NT$ million

15%

30%


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Revenue & Net Profit Thailand

Revenue Net Profit



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Asset Quality Thailand


21 Notes:

Definitions of delinquencies:


• Automobile installment sales in Thailand: overdue by 90 days or more


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Agenda



Segment Review

Q&A

Appendix

22

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Q & A

Investor Relations: [email protected]

23

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Agenda


1H13Performance Review

Segment Review

Q&A

Appendix

24

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Consolidated Balance Sheet Summary


NTD'000 2013.06.30 2012.06.30 YoY(%) 2013.03.31 QoQ(%)

Cash and cash equivalents 8,230,226 9,333,054 (12) 10,649,208 (23)

Total fund and investments 5,950,579 4,702,837 27 6,906,167 (14)

Notes and trade receivables 14,546 436,153 (97) 20,045 (27)

Loan and receivables 149,174,206 115,565,215 29 140,995,072 6

Other receivables 6,651,303 5,795,661 15 6,047,756 10

Property, plant and equipment 6,163,250 7,756,911 (21) 6,297,413 (2)

Other assets 5,645,525 3,756,895 50 4,942,072 14

Total assets 181,829,634 147,346,727 23 175,857,733 3

Interest bearing loans and borrowings 114,891,249 100,490,402 14 113,091,517 2

Corporate bond payable 12,936,939 10,686,138 21 12,360,230 5

Bank overdraft 164,781 143,426 15 157,145 5

Other liabilities 27,086,467 19,189,922 41 23,091,144 17

Total liabilities 155,079,436 130,509,887 19 148,700,036 4

Common stock 9,053,004 7,853,004 15 9,053,004 0

Total equity attributable to equity holders 24,985,813 15,254,027 64 25,206,106 (1)

Minority interests 1,764,386 1,582,813 11 1,951,591 (10)

Total equity 26,750,199 16,836,840 59 27,157,697 (2)

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Consolidated Income Statement Summary

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NTD’000 1H2013 1H2012 YoY(%)

Interest revenue - capital leases 3,594,641 2,850,639 26

Rent revenue - operating leases 1,292,922 1,546,046 (16)

Interest revenue - installment sales 2,644,787 2,212,977 20

Sales revenue 2,621,958 844,228 211

Other reveune 3,333,490 2,295,810 45

Fee Income/Service Fee 1,572,774 1,102,820 43

Other Interest Income 1,391,857 1,082,246 29

Others 368,860 110,745 233

Total revenue 13,487,797 9,749,701 38

Interest expense (2,003,656) (1,954,161) 3

Cost of operating leases (931,047) (1,365,322) (32)

Depreciation of PPE-OL (722,044) (902,446) (20)

Impairment loss of PPE-OL (209,002) (462,876) (55)

Other cost (2,687,355) (1,015,231) 165

COGS (2,339,646) (774,363) 202

Other cost (347,709) (240,868) 44

Total cost (5,622,058) (4,334,715) 30

Gross profit 7,865,739 5,414,986 45

Operating expense (3,968,868) (3,200,199) 24

Employee compensation and benefits (1,731,719) (1,530,607) 13

Impairment loss (1,079,598) (606,422) 78

Other expense (1,157,551) (1,063,169) 9

Other operating gain and loss 82,089 189,577 (57)

Operating profit 3,978,961 2,404,365 65

Non-operating gains/loss 248,796 133,219 87

Profit before income tax 4,227,757 2,537,584 67

Income tax expense (1,195,484) (824,231) 45

Profit after income tax 3,032,273 1,713,353 77

Attributable to equity holders 2,868,686 1,605,743 79

Attributable to minority interests 163,587 107,611 52

EPS 3.17 2.04 55

EPS ( Retroactively adjusted EPS) 2.88 1.85 56


Chailease Investor Conference

Economy & Finance

Transcript of Chailease Investor Conference