IR 20132Q Investor
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Transcript of IR 20132Q Investor
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8/22/2019 IR 20132Q Investor
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ASUSTeK
2Q 2013 Investor Conference
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Disclaimer
ASUSTeKs presentation contains forward-lookingstatements subject to significant risks anduncertainties. Actual results may differ materially fromthose contained in the forward-looking statements.
The forward-looking statements in this release reflectthe current belief of ASUS as of the date of thisrelease, we undertake no obligation to update these
forward-looking statements for new information,future events, or otherwise.
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Agenda
2Q 2013 Financial Result
Business Highlights Strategy & Outlook
Q & A
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2Q 2013 Financial Result
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2Q 2013 Brand I/S (QoQ)
(unaudited brand consolidated financials)
in NT$ Mn 2Q 2013 % 1Q 2013 % QoQ
Net Revenue 89,663 100.0% 105,157 100.0% -15%
COGS (77,535) (86.5%) (91,282) (86.8%) -15%
Gross Profit 12,129 13.5% 13,875 13.2% -13%
Operating Expenses (8,186) (9.1%) (8,314) (7.9%) -2%
Operating Income 3,942 4.4% 5,561 5.3% -29%
Non-OP Items 1,883 2.1% 1,636 1.6% 15%
Pre-Tax Income 5,825 6.5% 7,197 6.8% -19%
Tax (1,060) (1.2%) (1,144) (1.1%) -7%
Net Income 4,765 5.3% 6,053 5.8% -21%
* EPS $6.3 based on 752.8m shares
*
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in NT$ Mn 2Q 2013 % 2Q 2012 % YoY
Net Revenue 89,663 100.0% 94,197 100.0% -5%
COGS (77,535) (86.5%) (80,787) (85.8%) -4%
Gross Profit 12,129 13.5% 13,410 14.2% -10%
Operating Expenses (8,186) (9.1%) (7,960) (8.5%) 3%
Operating Income 3,942 4.4% 5,450 5.8% -28%
Non-OP Items 1,883 2.1% 845 0.9% 123%
Pre-Tax Income 5,825 6.5% 6,295 6.7% -7%
Tax (1,060) (1.2%) (1,478) (1.6%) -28%
Net Income 4,765 5.3% 4,817 5.1% -1%
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2Q 2013 Brand I/S (YoY)
(unaudited brand consolidated financials)
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2Q 2013 Brand Non-OP Items
Non-OP Items 2Q 2013 1Q 2013 QoQ 2Q 2012 YoY
Interest Income (net) 127 72 76% 102 25%
Investment Income (131) 394 -133% 329 -140%
Pegatron - 557 - 188 -
Askey (151) (182) 17% (1) -12597%
Others 21 19 7% 142 -86%
Exchange Gain / (Loss) 246 1,013 -76% 204 21%
Disposal Gain 1,462 - -
Other Income (net) 178 157 13% 210 -16%
Total Non-OP items 1,883 1,636 15% 845 123%
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2Q 2013 Brand B/S
*CCC calculation based on net ending inventory balance and quarterly unaudited consolidated brand financials
in NT$ Mn Jun 30, 2013 Mar 31, 2013 QoQ Jun 30, 2012 YoYCash & cash equivalents 61,237 49,825 23% 37,346 64%
Accounts receivable 49,947 57,438 -13% 57,013 -12%
Inventories 78,648 70,135 12% 70,974 11%
Current Assets 198,136 185,277 7% 177,712 11%
Long-term investments 51,208 52,195 50,464
Fixed assets 4,262 4,345 4,487
Other assets 6,097 5,945 726
Total Assets 259,704 247,762 5% 233,390 11%
Accounts payable 47,899 42,262 13% 47,587 1%Current Liabilities 127,060 108,184 17% 113,999 11%
Total Liabilities 132,029 113,337 16% 118,307 12%
Paid-in capital 7,528 7,528 7,528
Stockholders' equity 127,675 134,425 -5% 115,082 11%
Days of Inventory 93 70 80
Days of AR 51 50 55
Days of AP 61 46 54
CCC Days 82 74 82
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Business Highlights
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Product Mix
1Q 20132Q 2013
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Region Mix
1Q 20132Q 2013
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3Q 2013 Shipment Outlook
targets
1Q 2013 2Q 2013 3Q 2013
NB/hybrid 4.7m 4.1m 4.3m
EPAD 3.0m 2.0m 3.5m
MB 5.0m 5.0m 5.5m
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Strategy & Outlook
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Transformation to a new plateauTransformation to a new plateauTransformation to a new plateauTransformation to a new plateauin a changing erain a changing erain a changing erain a changing era
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Aiming 3-in-1 Market
SoLoMoPersonalize
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2012-2017 3-in-1 Device TAMUnit: Million
Source: Gartner, Q2 2013
Desktop & Mobile PC Tablet Smartphone
2-in-1 (PC Tablet) 3-in-1 (PC Tablet Smartphone)
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2013 ASUS 2-in-1 Revenue Y/Y
Q113 Q213 1H13
2-in-1 (NB Tablet)
33%
2%
17%
0%
10%
20%
30%
40%
2-in-1 (Mobile PC Tablet)
Q113 Q213 1H13
22%
-7%
7%
-10%
0%
10%
20%
30%
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TouchBeauty ResponsivenessSound Ubiquity
Customer Happiness 2.0
Despite industry,Despite industry,Despite industry,Despite industry,
customercustomercustomercustomer happiness is alwayshappiness is alwayshappiness is alwayshappiness is always thethethethe most importantmost importantmost importantmost important thingthingthingthing
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Total TAM 202M
(240M w/ White Brand)
Tablet Market
Source: Industry data & ASUS estimates
Apple
Amazon
ASUS
Microsoft
SamsungMNCs
White Box
Local Brand
2013(e)
GoogleASUS Goal
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Transformer
Pad FHD
TransformerPad HD
TransformerTransformerTransformerTransformer
New Nexus7
NexusNexusNexusNexus
MeMO Pad
HD 7
MeMO PadHD 8
MeMOMeMOMeMOMeMO
ASUS Pad StrategyInnovation Leading Perfection Cost
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PadFone
Infinity
PadFonemini
PadFonePadFonePadFonePadFone
FonePad
HD 7
FonePadNote FHD 6
FonePadFonePadFonePadFonePad
MeMOFone
HD 5
MeMOFoneMeMOFoneMeMOFoneMeMOFone
ASUS Smartphone StrategyInnovative Leader
Sell > 1Mu
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Windows Ecosystem Android Ecosystem
Collaboration
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The worlds most admired
leading enterprise in the
new digital era.
The worlds most admired
leading enterprise in the
new digital era.
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ASUSTeK
2Q 2013 Investor Conference