2016 1H

Y2015 Financial Results
2016/02/25
By Eric Chen
[email protected]
Safe Harbor Notice
 This presentation contains forward-looking
statements and is subject to risks and uncertainties.
Actual results may differ materially from those
contained in the forward-looking statements.
 The projections should not be interpreted as legally
binding commitments, but rather as flexible
information subject to change occasionally.
Y2015 Financial Results
Consolidate
NT$M
Y2012
Y2013
Y2014
27,552
30,660
YOY growth
4%
11%
Gross Margin %
39.2%
Gross Margin
2015
YOY
1Q
2Q
3Q
*4Q
*YTD
35,732
8,785
10,027
9,437
9,752
38,001
17%
8%
8%
3%
6%
6%
41.0%
40.3% 40.9%
39.7%
39.7%
41.3%
40.4%
0.1%
10,924
12,586
14,393
3,591
3,980
3,746
4,028
15,345
7%
7,065
7,917
8,884
2,240
2,348
2,422
2,406
9,416
9%
3,858
14.0%
12%
4,668
15.2%
12% 11%
5,509 1,351
15.4% 15.4%
6%
1,632
16.3%
6%
1,324
14.0%
1%
1,622
16.6%
6%
5,929
15.6%
373
500
547
129
-8
195
45
361
-34%
Effective Tax Rate
17.6%
20.1%
18.5%
18.5%
18.0%
18.6%
18.9%
18.5%
0.0%
NPAT
3,486
4,127
4,932
1,206
1,333
1,236
1,352
5,127
4%
5.67
6.59
7.80
1.91
2.10
1.95
2.12
8.08
4%
Sales
Operating Expense
YOY growth
Operating Margin
Operating Margin %
Non-Operating Income
EPS(NT$)
*Un-Audited
6%
6%
8%
Y2015 Sales By Region
Local Sales: US 1,201M, +2%
USD$ M
2014
339
179
343
159
92
69
1,180
North America
Europe
Greater China
Asia/Intercon
DMS/E2E
Affiliates
Total
Affiliates
DMS/E2E 5%
6%
2015
GR%
352
185
371
158
77
60
1,201
AEU:
150.8M GR%: +4%
ADLoG:
33.8M GR%:
-1%
Japan:
Korea:
AAU/NZ:
SAP:
Intercon:
LATAM
Greater China
China:
Europe
15%
292.7M
6.6M GR%
27.5M
41.4M
10.6M
22.4M
42.8M
13.0M
GR%:
GR%:
GR%:
GR%:
GR%:
GR%:
+21%
-1%
-2%
+3%
+2%
-35%
Affiliates/M&A
GR%: +11%
Taiwan: 71.6M GR%:
AiS:
29%
15%
31%
13%
6%
5%
100%
Asia/Intercon
Asia
Intercon.
13%
Greater
China
31%
+4%
+3%
+8%
-1%
-17%
-13%
+2%
Europe
North
America
29%
%
-5%
+48%
Advansus:
22.7M
GR%:
-13%
ALNC
APOS
12.6M
5.6M
GR%:
GR%:
-7%
-40%
Advantech Business Group Structure
Local Sales: US 1,201M, +2%
Embedded Design-In
Networks & Communications
-6%
Embedded Core Computing +4%
US 607.4M
50%, +0%
Industrial DMS
+0%
•Blade Computing & Systems
•Network Appliances
•Network Virtualization Platforms
•Embedded Box Computer
•Modular Computing Boards
•Wireless IoT Modules
•Applied Computing DMS
•Embedded DMS
•Network Appliance DMS
•Network & Embedded Switch
•Broadcasting & Surveillance Platforms
•Display Systems & Gaming Solutions
•Industrial Motherboard & DTOS
•Embedded Peripherals
•Component Purchasing Service
% of Sales, YoY Growth
US 143.9M
12%,+8%
Industrial-IoT
Industrial Automation +0%
•Industrial I/O & Controllers
•Industrial HMI
•Automation Computing
•IoT Devices & Solutions
•WebAccess+ Solutions
•iFactory (Industry 4.0) Solutions
•Machine Automation Solutions
•Power & Energy Solutions
Intelligent Systems +5%
•Industrial Computers
•Industrial Servers & Storage
•Intelligent Video Solutions
•Intelligent IoT Modules
•Transportation Solutions
US 358.4M
30%, +2%
iConnectivity
-2%
•iNetworking (B+B)
•Industrial Communications
•Industrial Switch
Smart City Solutions
Service Automation Platforms
•Industrial Mobile Computing
•iRetail Platforms
•Medical Computing & Tablets
•In-Vehicle Computing
US 91.8M
8%, +5%
Intelligent Service Solutions
•Intelligent Hospital
•Digital Logistics & Fleet Management
•Intelligent Retail & Hospitality
+5%
Y2015 Working Capital
Consolidate
2013
2014
Full
Full
1Q
2Q
3Q
Cash Position
4,924
5,648
6,778
7,564
5,348
5,633
Account Receivable
5,359
5,916
5,521
6,436
6,383
6,266
DSO (Days)
59
58
55
62
59
59
4,031
4,782
4,880
4,680
5,175
4,869
76
78
87
71
82
76
3,004
3,166
3,107
3,536
3,436
3,066
55
52
56
53
54
51
NT$ M
Inventory
DOH (Days)
Account Payable
AP (Days)
*Un-Audited
2015
*4Q
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