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Asustek: 1Q 2014 Investor Conference

- ASUSTeK held an investor conference call to discuss financial results for 1Q 2014. Revenue declined 16% QoQ and 5% YoY due to weaker PC market. Net income declined 23% QoQ and 28% YoY. - Notebooks remained the largest product segment at 62% of total revenue. Revenue from pads grew YoY but declined QoQ. - For 2Q 2014, notebook and pad shipments are expected to decline QoQ but grow YoY, while mobile/desktop shipments will remain flat QoQ and grow slightly YoY. - ASUSTeK aims to drive future growth through expanding into new product categories like smartphones and tablets

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40 views31 pages

Asustek: 1Q 2014 Investor Conference

- ASUSTeK held an investor conference call to discuss financial results for 1Q 2014. Revenue declined 16% QoQ and 5% YoY due to weaker PC market. Net income declined 23% QoQ and 28% YoY. - Notebooks remained the largest product segment at 62% of total revenue. Revenue from pads grew YoY but declined QoQ. - For 2Q 2014, notebook and pad shipments are expected to decline QoQ but grow YoY, while mobile/desktop shipments will remain flat QoQ and grow slightly YoY. - ASUSTeK aims to drive future growth through expanding into new product categories like smartphones and tablets

Uploaded by

Farhan Syahmie
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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ASUSTeK

1Q 2014 Investor Conference

Disclaimer
ASUSTeKs presentation contains forward-looking
statements subject to significant risks and
uncertainties. Actual results may differ materially from
those contained in the forward-looking statements.

The forward-looking statements in this release reflect


the current belief of ASUS as of the date of this
release, we undertake no obligation to update these
forward-looking statements for new information,
future events, or otherwise.

Confidential

Agenda
1Q 2014 Financial Result
Business Highlights
Strategy & Outlook
Q&A

Confidential

1Q 2014 Financial Result

1Q 2014 Brand I/S (QoQ)


(unaudited brand consolidated financials)

in NT$ Mn

1Q 2014

Net Revenue
COGS
Gross Profit
Operating Expenses
Operating Income
Non-OP Items
Pre-Tax Income
Tax
Net Income
* EPS $ 5.87 based on 742.8m shares

Confidential

4Q 2013

QoQ

100,265

100.0%

119,480

100.0%

-16%

(87,076)

(86.8%)

(104,445)

(87.4%)

-17%

13,189

13.2%

15,035

12.6%

-12%

(8,514)

(8.5%)

(9,709)

(8.1%)

-12%

4,674

4.7%

5,326

4.5%

-12%

536

0.5%

1,962

1.6%

-73%

5,210

5.2%

7,289

6.1%

-29%

(1.3%)

-47%

4.8%

-23%

(848)

(0.8%)

4,362*

4.4%

(1,597)
5,691

1Q 2014 Brand I/S (YoY)


(unaudited brand consolidated financials)

in NT$ Mn
Net Revenue
COGS
Gross Profit
Operating Expenses
Operating Income
Non-OP Items
Pre-Tax Income
Tax
Net Income

Confidential

1Q 2014

1Q 2013

YoY

100,265

100.0%

105,157

100.0%

-5%

(87,076)

(86.8%)

(91,282)

(86.8%)

-5%

13,189

13.2%

13,875

13.2%

-5%

(8,514)

(8.5%)

(8,314)

(7.9%)

2%

4,674

4.7%

5,561

5.3%

-16%

536

0.5%

1,636

1.6%

-67%

5,210

5.2%

7,197

6.8%

-28%

(1.1%)

-26%

5.8%

-28%

(848)
4,362

(0.8%)
4.4%

(1,144)
6,053

1Q 2014 Non-OP Items


(unaudited brand consolidated financials)

Non-OP Items
Interest Income (net)
Investment Income

1Q 2014

4Q 2013

QoQ

1Q 2013

YoY

72

(97)

175%

72

0%

275

97

183%

394

-30%

557

Pegatron
Ask ey

138

194

-29%

(182)

176%

Others

137

(97)

241%

19

619%

40

752

-95%

1,013

-96%

664

-100%

Exchange Gain / (Loss)


Dividend Income

Other Income (net)

149

546

-73%

157

-5%

Total Non-OP items

536

1,962

-73%

1,636

-67%

Confidential

1Q 2014 Brand B/S


in NT$ Mn

Mar 31, 2014

Dec 31, 2013

QoQ

Mar 31, 2013

YoY

Cash & cash equivalents

63,720

62,169

2%

49,825

28%

Accounts receivable

60,031

66,565

-10%

57,438

5%

Inventories

70,360

71,681

-2%

70,135

0%

203,402

209,702

-3%

185,277

10%

56,093

53,057

52,195

Fixed assets

4,793

4,850

4,345

Total Assets

272,565

275,746

-1%

247,762

10%

47,437

55,333

-14%

42,262

12%

Current Liabilities

122,490

133,928

-9%

108,184

13%

Total Liabilities

129,371

140,547

-8%

113,337

14%

7,428

7,428

143,193

135,200

Current Assets
Long-term investments

Accounts payable

Paid-in capital
Stockholders' equity

7,528
6%

134,425

Days of Inventory

74

63

70

Days of AR

55

51

50

Days of AP

54

53

46

CCC Days

74

61

74

*CCC calculation based on net ending inventory balance and quarterly unaudited consolidated brand financials

Confidential

7%

Business Highlights

Product Mix
1Q 2014
Others
12%

Pad
17%

NB
62%

10

Others MB&card
11%
12%

MB&card
14%

Pad
12%

Confidential

4Q 2013

NB
60%

Region Mix
1Q 2014

America
22%

APAC
45%

11

Confidential

EURP
33%

4Q 2013

America
26%

APAC
36%

EURP
38%

2Q 2014 Shipment Outlook

1Q 2014

targets

targets

targets

2Q 2014

QoQ

YoY

NB/hybrid

4.9m

4.6m

-6%

+12%

PAD

2.1m

2.8m

+33%

+40%

MB/DT

5.2m

5.2m

+0%

+4%

Phone

0.2m

1.5m

12

Confidential

Strategy & Outlook

13

Beauty

Sound

Touch

Heart

Ubiquity

ZenFone

ZENBOOK

PadFone

VivoBook

PadFone mini

Transformer Book

Fonepad

Vivo Tab

Nexus 7

Transformer Pad

MeMO Pad

Unit: Million

PC

Tablet

CAGR 0.4%

Smartphone

Source: Gartner & ASUS estimates

3in1

Mobile
PC

Sustaining Growth

Breakthrough Growth

2013

2014

2015

2016

ASUS Revenue (e)

2017

2013

2014

2015

ASUS PC

2016

2017

2013

Q1 (e)

2014

Q2 (e)

Q3 (e)

ASUS Desktop

Q4 (e)

Source: Industry data & ASUS estimates

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