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Transcript of IR_2014 1H_eng
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DASAN Networks
IR Presentation FY 2014 1H
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Contents
1. Business
Highlight
2. Shareholders
3. Organization
4. Product and
Solution
5. Business
Composition
6. Subsidiaries
7. Overall
Performance
8. Consolidated
Performance
History of corporate name, business area, corporate governance, affiliated company P.3
P.4 Shareholders composition during the past five years, major stockholder of 5% and
above, increase and decrease of treasury shares, profits attribution to shareholders
P.5
P.6
P.7
P.8
P.9
P.10
The progress of business performance and financial affairs during the past three
years
Corporate governance, affiliated company and organization structure map
Business area and product solution of DASAN Networks and affiliated company
Consolidated business performance during the past three years
Mid- to long-term vision 9. VISION P.11
Business area and product solution of subsidiaries
Sales status by product and market
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Copyright 2014 DASAN Networks, Inc.
3
1. Business Highlight
Copyright 2014 DASAN Networks, Inc.
Maintenance of the NO.1 provider position in the domestic network equipment market since its foundation
Entrance of the global market in Japan, USA, China etc. and diversification drive since 2009
Foundation / Localization of Networks
equipment (1993 ~ 2003) No1 Provider in the domestic market
(2004 ~ 2008)
Globalization & Diversification
(since 2009)
(1993) DASAN Engineering Co. Ltd. Founded
(1995) DASAN R&D Center established
(1998) Developed Frame Relay Router &
AICPS
(1999) Corporate name changed (DASAN
Engineering DASAN Internet)
(2000) Launched new series of Ethernet
switch & xDSL solution
World first commercial based Linux
Router
Listed to KOSDAQ
(2001) Launched Metro Ethernet solution
Released L2 Switch
(2002) Corporate name changed (DASAN
Internet DASAN Networks)
Released L3 Metro Ethernet Switch
(2003) Released VDSL IP-DSLAM
(2004) Investment from Siemens AG
Biggest shareholder changed (Mr.
Nam Min Woo SIEMENS)
(2005) Released ADSL2 IP-DSLAM to global
market
(2006) Headquarter relocated
(2007) No. 1 E-PON provider to KT
No. 1 IP-STB provider to KT
Biggest shareholder changed
(SIEMENS Nokia Siemens Networks)
(2008) Biggest shareholder changed (Nokia
Siemens Networks DASAN Invest)
Acquired by DASAN TPS
Provided G-PON to SKB
No.1 IP phone provider of Samsung
Networks
(2009) Provided G-PON to BSNL, India
Provided Mobile Backhaul solution to
SBB, Japan
(2010) Acquired 86% share of DASAN RND
Acquired 51% share of EPWORKS
USA branch founded
(2006) Provided 4G LTE Access solution to LGU+
Acquired 100% share of Handysoft
Handysoft was merged into DASAN SMC
Cancellation of shares : 1,000,000 shares
Headquarter relocated (DASAN Tower)
(2012) Provided OTT BOX to NTT West
Acquired 75.08% share of DMC
(2013) Selected as the Supplier of Chunghwa
Telecom & Taipo in Taiwan(G-PON)
Released SKB Smart Set Top Box(B-Box)
Acquired 43.5% share of DYTS
(2014) Strategic Alliance with UTStarcom
Provided FTTH solution to Viettel in Vietnam
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Copyright 2014 DASAN Networks, Inc.
4
2. Shareholders
Copyright 2014 DASAN Networks, Inc.
Portion of institutional investor (the end of 2009 20.7% the end of 2010 23.8% the end of 2011 36.8% the
end of 2012 25.8% the end of 2013 32.0%)
Shareholder composition during the past five years
Major shareholder
Shareholder No. of Stock Ratio
DASAN Invest, Inc.
(controlled by Mr. Nam) 4,104,173 22.2%
Mr. Nam Min Woo
(CEO of DASAN Networks
& DASAN Invest)
672,395 3.6%
Treasury shares 815,662 4.4%
Standard Chartered PE 3,432,402 18.6%
National Pension 737,141 4.0%
Shinyoung Asset
Management 925,034 5.0%
Etc. 7,789,199 42.2%
Total 18,476,006 100.0%
Profits attribution to shareholders
- Cancellation of 1,000,000 shares (Jun, 2011)
- Earned surplus : 31.4billion (as of the end of 2011)
(In benefit, expectation of dividend policy in consideration)
(2014.06.30)
Acquisition and cancelled treasury shares
- Merger with DASAN TPS and the consequential treasury shares
acquisition (Y2008, 2,782,000 share)
- Sold 2,782,000 to Standard Chartered PE
Largest
shareholder
Treasury
shares
Domestic
institutional
investor
Foreigner
Y 2009
30.9%
15.9%
4.8%
16.8%
31.6%
Y 2010
18.5%
13.5%
10.3%
32.7%
25.0%
Y 2011
17.3%
19.5%
32.7%
26.2%
Individual
Y 2012
2.7%
23.1%
43.6%
26.2%
20.7
23.8 36.8
25.8
Y 2013
4.4%
10.0%
22.0%
37.5%
26.1%
32.0
4.4% 4.4%
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Copyright 2014 DASAN Networks, Inc.
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3. Organization
Copyright 2014 DASAN Networks, Inc.
Diversification of overseas customer through USA branch founded in 2010, China branch founded in 2012
DASAN RND (85.7%)
DASAN Invest
Subsidiaries
Biggest shareholder
(Mr. Nam Min Woo)
DASAN
Networks
100.0%
(State of subsidiary and affiliated companies)
DASAN Networks USA (100.0%)
DASAN Networks JAPAN
(100.0%)
Tomato Soft Ltd. (100.0%)
Xian
(100.0%)
Chashan Networks
(60.0%)
Handysoft (25.6%)
Affiliated Companies
DMC (45.5%)
DASAN Develop
(52.6%)
39.0%
3.6%
22.2%
CEO (Mr. Nam Min Woo)
(DASAN Networks )
Management
Dpt. Finance
planning Dpt.
Domestic
business Dpt. Overseas
business Dpt.
Quality/
Production Dpt.
COO,
Auditor,
Advisor
Headquarter(Pangyo)
DASAN Networks China
(Xian, Shenzhen)
Distribution Center
(Janghowon)
DASAN Networks Japan
DASAN Networks USA
( Global Network )
PANDA Media (90.0%)
DYTS (43.5%)
DMC
(45.5%)
DASAN RND
(5.1%)
Smart
Business Dpt.
50.0%
J-Mobile (45.0%)
Vietnam[ODC]
Strategic
business Dpt. CMO Dpt.
R&D Center
India[ODC]
Taiwan liaison office
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Copyright 2014 DASAN Networks, Inc.
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4. Product and Solution
Copyright 2014 DASAN Networks, Inc.
Provide communication equipment solution based on a variety of products
Flagship Platform PTN Core
10G EPON OLT Backbone Switch
Packet Transport Network
Core-Edge Network
Triple Play Service over IP OTT / STB
VOIP Phone WLAN solution
CPE
GPON OLT, ONU&ONT L2/L3 Switch(PoE) Security Switch
Access Network
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Copyright 2014 DASAN Networks, Inc.
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5. Business Composition
Copyright 2014 DASAN Networks, Inc.
Diversification of overseas customers and improvement of profitability through product mix of Ethernet
switch and OLT/ONUs for FTTx applications
Sales status by product
TPS & Wi-Fi NETWORK
Ethernet Switch
FTTX
Mobile
Mobile Backhaul Solution
IP - DSLAM
OTT BOX
Android Series Tablet
IP Phone / Wi-Fi Phone
Wi-Fi AP, AC
Others
Ethernet Switch
(30%)
Sales segment (2013)
FTTX
(42%)
Others
(28%)
Sales status by Market
Overseas Domestic
KT
SKB
LGU
Enterprise
JAPAN
NSN etc.
USA
CHINA
SKB (10%)
Sales segment (2013)
Overseas (33%) LGU (14%)
KT (29%)
Others
(14%)
Others
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Copyright 2014 DASAN Networks, Inc.
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4. Product and Solution
Copyright 2014 DASAN Networks, Inc.
Upstream business strategy and supply of network equipment in close cooperation with the affiliated company
Internal Diversification including, but not limited to, automotive parts, and automated solutions
Car & Engineering Software & Service
Handysoft
PANDA
Media
Cooperative work
S/W Solution Network Solution
Smart Monitor OTT Services
J-Mobile
IP PTT(Portable) IP PTT(Car)
DASAN
RND
DMC
DYTS
Automobile
production&research
automation solutions
Car exhaust gas
inspection system
RADIATOR ACC (Air Cooled
Vacuum Condenser)
Combined Cycle
Power Plant
Automobile rubber parts production
Lease Business: DASAN Tower
AFC
(Air Fin Cooler)
Petrochemical plant
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Copyright 2014 DASAN Networks, Inc.
9
7. Overall Performance
Copyright 2014 DASAN Networks, Inc.
2013 Turn into surplus in net profit
Assets / Cash
Liabilities (debt ration) / Borrowing
Healthy cash flow and stable financial structure
Sales
Operating Profit
Separate Financial Statements
Separate Financial Statements
Separate Financial Statements
Separate Financial Statements
1,308
2011
2,478
2010
1,000
2,000
2012
2,067
715 760
2011
1,939
2010
1,000
2013
1,227
2,000
2012
1,306
30%
43% 43%
1,699
285
2013
33%
1,997
323
1,700(E)
2014(1H)
683
2,170
347
2014(1H)
32%
372
634
2011
1,106
2010
500
1,000
2012
627
349
691
44%
81%
2011
276
2010
100
2013
60
200
2012
49
142
2013
28%
71
360 46%
2014(1H)
12
795
499
2014(1H)
58%
(unit : 100M Won) (unit : 100M Won)
(unit : 100M Won) (unit : 100M Won)
Export
Cash
Total assets
Total debt
Borrowing
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Copyright 2014 DASAN Networks, Inc.
10
8. Consolidated Performance
Copyright 2014 DASAN Networks, Inc.
Visualization of investment performance to subsidiaries or partnership : DMC, DASAN RND, etc.
Consolidated sales Overseas business
JAPAN
SBB : Provide MBH solution
IP-PTT : Service Providing Business via J-Mobile
United States
Setting up local channels
Brand awareness and potential customer increases
Strategic Alliance and Partnership with UTStarcom targeting
North America and Global market
Asia
Taiwan : CHT, Taipei City GPON business
Thailand, Hong Kong, etc : FTTH supply
Vietnam, India and others
Eastern Europe/Nordic/South America
Russia, Poland, Brazil, etc. FTTH market extension
Indirect Sales enhancement
(unit : 100M Won)
1,441
1,306 1,227
2011 2012 2013
1,339
OP : 57 OP : 60 OP : 11
1,427
1,308 1,700
1,900
2014(E)
DASAN
Networks
OP : 57
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Copyright 2014 DASAN Networks, Inc.
11
9. Mid- to Long-term Vision
Copyright 2014 DASAN Networks, Inc.
Global TOP 5 Network Equipment Provider
DASAN Networks aims to become one of the worlds top 5 network equipment providers by 2016
Product line
reinforcement
Overseas new
customer securement
Domestic enterprise
market extension
Customer Experience
Worldwide customer support
License for supplying to major
ISPs in Korea and worldwide
Customized Solution
Interoperability test for
network stability
Wide-spread deployment in
the world
Product Competitiveness
Various product line-up
Wide-spread deployment in
the world
Innovative Technology
Early adaptation and market-driven R&D
capability with customer
Stronger relationship with leading
partners in this business
HANDYSOFT J-Mobile DMC DASAN
RND
PANDA
Media DYTS