7/31/2019 TPK 1Q12 Result Summary
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991028
TPK Holding Co., Ltd.
101
2012425
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Disclaimer Statement
This presentation and release may contain forward-looking statements which may include
projections on future results of operations, financial condition and business prospects based on
our own information and other sources.
The actual results of operations, financial condition and business prospects may differ from thoseexplicitly or implicitly indicated in those forward-looking statements for a variety of reasons,
including but not limited to market demand, price fluctuations, competition, supply chain issues,
global economic conditions, exchange rate fluctuation and other risks and factors beyond TPKs
controls.
The forward-looking statements in this presentation, if any, only reflect the current view of TPK
Holding Co., Ltd. as of the date of its release. TPK undertakes no obligation to update those
forward-looking statements for events or circumstances that occur subsequently.
1
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Disclosure Notice ()
Financial numbers in this presentation are based on the
Statement of Financial Accounting Standard No. 7
All financial numbers are unaudited
2
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1Q12 Result Summary ()
3
Q1 performance in line with original expectation
Revenue of NT$40,476 mn, up 59.8% YoY and down 11.0% QoQ
OM of 8.9%, up from 8.3% in 4Q11
Net profits of NT$2,624 mn, up 6.3% YoY and up 71.1% QoQ
EPS of NT$10.71, up from NT$10.17 in 1Q11 and NT$5.97 in 4Q11
LFF CG capacity ramped up on schedule: 1 mn output in March
TOL preparation on schedule, ready for MP in July
Intensive design-ins and projects awarded for Windows 8 based
applications
US patent for SITO obtained, in addition to Taiwan, China, Japan,
Germany and Korea
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P&L(): 1Q 2012
4
Profit & Loss 1Q12 1Q11 YoY 4Q11 QoQ
(NT$ mn)
Revenues 40,476 25,324 59.8% 45,478 (11.0%)
COGS (34,764) (20,545) 69.2% (39,175) (11.3%)
Gross Profits 5,712 4,779 19.5% 6,303 (9.4%)
Operating Expenses (2,128) (1,571) (2,540)
SG&A (1,132) (898) (1,506)
R&D (996) (673) (1,034)
Operating Profits 3,583 3,207 11.7% 3,763 (4.8%)
Non-Op Inc/(Exp) (205) (45) (1,713)
Earnings Before Tax 3,378 3,162 6.8% 2,050 64.8%
Income Tax (781) (693) (574)
Net Income (Parent) 2,624 2,470 6.3% 1,534 71.1%
EPS (Parent) 10.71 10.17 5.97
Margin:
GM 14.1% 18.9% 13.9%
OM 8.9% 12.7% 8.3%
NM 6.5% 9.8% 3.4%
Op Exp (5.3%) (6.2%) (5.6%)
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Quarterly Sales ()
5
5,082
10,508
17,213
26,79625,324
32,525
40,045
45,478
40,476
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
NT$ mn
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Gross Profits ()
6
932
2,2282,457
4,400
4,779
6,190
6,921
6,303
5,71218.3%
21.2%
14.3%
16.4%
18.9% 19.0%
17.3%
13.9% 14.1%
0%
5%
10%
15%
20%
25%
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
NT$ mn
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Operating Profits ()
7
360
1,340 1,316
3,217
3,207
4,7274,627
3,7633,583
7.1%
12.8%
7.6%
12.0%12.7%
14.5%
11.6%
8.3% 8.9%
0%
2%
4%
6%
8%
10%
12%
14%
16%
0
1,000
2,000
3,000
4,000
5,000
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
NT$ mn
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Net Profits ()
8
331
1,115 1,130
2,165
2,470
3,7153,626
1,534
2,624
6.5%
10.6%
6.6%
8.1%
9.8%
11.4%
9.1%
3.4%
6.5%
0%
2%
4%
6%
8%
10%
12%
14%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
NT$ mn
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Quarterly Sales by Form Factor()
9Note: Large Form Factor includes screen sizes equal or larger than 7.
80%
61%
72%66%
57% 51%
64%73% 77%
20%
39%
28%34%
43%49%
36%27% 23%
0%
20%
40%
60%
80%
100%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
SFF LFF
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Quarterly Sales by Products()
10Note: Touch Display consists of a touch module and a display panel.
15%20%
50% 54% 49%
37%
50%
64% 62%
85%80%
50% 46% 51%
63%
50%
36% 38%
0%
20%
40%
60%
80%
100%
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
Display Module
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Balance Sheet ()
11
Balance Sheet 2012/3/31 2011/12/31
(NT$ mm)
Cash Equivalents 13,966 10,383
Receivables 8,599 16,906
Inventories 12,130 11,868
Current Assets 39,606 42,412
Total Fixed Assets 43,994 43,760
Total Assets 89,890 92,953
ST Loans 6,898 5,470
Payables 21,531 26,092
Current Liabilit ies 40,036 44,314
Convertible Bonds 10,166 10,339
LT Loans 8,158 8,806
Total Liabilit ies 58,470 63,591
Common Shares 2,353 2,353
Total Shareholder's Equities 31,420 29,363
Ratio Analysis:
Quick Ratio 0.69 0.69
Current Ratio 0.99 0.96
ROE 35% 51%
Net Debt to Equity 0.36 0.48
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Cashflow Statement ()
12
Cashflow Statement 1Q12 4Q11
(NT$ mn)
Operating Cashflows:
Net Profits 2,597 1,476
Depreciation & Amortization 1,161 1,001
Net Inc/(Dec) Working Capital 4,001 (1,120)
Other Operating Cash Flow 539 2,348Cash Flow from Operations 8,298 3,706
Investing Cashflows:
Capital Expenditures (4,158) (5,035)
Acquisitions - 40
Others (1,483) (43)
Cash Flow from Investments (5,642) (5,038)
Financing Cashflows:Inc/(Dec) in Debts 1,161 (2,466)
Others (11) (7)
Cash Flow from Financing 1,150 (2,473)
FX Adjustments (223) (312)
Total Cash Flow 3,583 (4,118)
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13
Customer Diversification ()
Major
Customer
37%
Others
63%
2013
Note: Company estimates
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14
Product Diversification()
G/G 45%
GFF 25%
TOL / G1F
30%
2013
Note: Company estimates
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15
Application Diversification()
Smartphones
24%
Tablet/E-Book
52%
Notebook
14%
Consumer 2%
Others
8%
2013
Note: Company estimates
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Thank you
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