Pou Chen Corporation · TWSE:9904
Pou Chen — Investor Presentation (June 2017)
14 slides from Pou Chen's investor presentation, June 2017
Slide 1: June 2017
June 2017 http: //www.pouchen.com E-mail: ir@pouchen.com
Slide 2: Table of Contents
Table of Contents Page 1. PCG’s Profile 2 2. Business Overview 3 3. Footwear Business – Yue Yuen 5 4. Retail Business – Pou Sheng 7 5. Financial Highlights 9 1
Slide 3: PCG's Profile
PCG’s Profile Pou Chen Group -- The largest footwear manufacture Group in the world • Founded in 1969; listed on the TWSE in 1990 • Paid in Capital: US$972 mn (NT$29.47 bn) • Market Cap.: US$4,081 mn (@NT$42.00 as of 2017/03/31) • Revenue: 1Q2017 Consolidated Sales US$2,109 mn (NT$65.57 bn) • Produc
Slide 4: Business Overview
Business Overview Business Segment Mix Pou Chen: FY2014 FY2015 FY2016 1Q2016 1Q2017 (Consolidated) (NT$mn; %) (NT$mn; %) (NT$mn; %) (NT$mn; %) (NT$mn; %) Footwear 183,292 75.1% 195,313 72.6% 194,830 70.9% 46,700 69.2% 44,245 67.5% Retail 59,891 24.6% 72,927 27.1% 78,880 28.7% 20,545 30.5% 21,033 32.
Slide 5: Business Overview
Business Overview Pou Chen’s 5M2017 unaudited consolidated sales ended 2017/05/31 decreased Y-o-Y by 1.6% to NT$114.4 bn. Revenue – Footwear Business Revenue - Retail Business (NT$mn) (NT$mn) 183,292 195,313 194,830 72,927 78,880 59,891 46,700 44,245 20,545 21,033 2014 2015 2016 1Q2016 1Q2017 2014 2
Slide 6: Footwear Business – Yue Yuen
Footwear Business – Yue Yuen Product Mix FY2014 FY2015 FY2016 1Q2016 1Q2017 YoY Category (US$mn; %) (US$mn; %) (US$mn; %) (US$mn; %) (US$mn; %) (%) Athletic Shoes 3,870 48.3% 4,016 47.6% 4,110 48.5% 960 47.3% 996 47.4% +3.8% Casual/Outdoor Shoes 1,429 17.8% 1,366 16.2% 1,231 14.5% 273 13.5% 262 12.5
Slide 7: Financial Highlights – Yue Yuen
Financial Highlights – Yue Yuen Yue Yuen’s 5M2017 unaudited sales ended 2017/05/31 increased Y-o-Y by 5.2% to US$3.7 bn. Revenue Gross Margin (US$mn) (US$mn) Yue Yuen OEM/ODM 16,000 28.0% 27.0% 14,000 25.2% 25.0% 26.0% 24.4% 12,000 23.4% 25.0% 24.0% 10,000 22.1% 23.0% 8,013 8,435 8,481 20.9% 21.0% 8
Slide 8: Retail Business – Pou Sheng
Retail Business – Pou Sheng Financial Highlights FY2015 FY2016 1Q2016 1Q2017 YoY (RMB$mn) (%) Revenue 14,466 16,236 4,086 4,674 +14.4% Gross Profit 4,818 5,768 1,426 1,569 +10.0% Gross Margin 33.3% 35.5% 34.9% 33.6% Operating Profit 599 924 267 211 -20.9% Operating Margin 4.1% 5.7% 6.5% 4.5% Net Inc
Slide 9: Financial Highlights – Pou Sheng
Financial Highlights – Pou Sheng Pou Sheng’s 5M2017 unaudited sales ended 2017/05/31 increased Y-o-Y by 14.6% to RMB 8.1 bn (US$1.2 bn). Revenue Gross Margin (RMB$mn) (RMB$mn) 7,000 40.0% 5,768 34.9% 6,000 4,818 33.6% 35.0% 16,236 5,000 14,466 4,000 35.5% 33.3% 30.0% 3,000 4,674 2,000 1,426 1,569 4,
Slide 10: Financial Highlights – PCC (Consolidated)
Financial Highlights – PCC (Consolidated) (NT$mn) FY2014 FY2015 FY2016 Revenue 243,976 269,081 274,895 Gross Profit 55,269 64,505 70,383 Gross Margin 22.6% 24.0% 25.6% Operating Income 7,921 12,353 17,629 Operating Margin 3.2% 4.6% 6.4% Non-operating Income, net 7,953 7,887 8,651 Profit before taxat
Slide 11: Financial Highlights – PCC (Consolidated)
Financial Highlights – PCC (Consolidated) Contributed by the improved operational efficiency, PCC’s Gross Margin and Operating Margin in 1Q2017 had a better performance compared with the same period last year. YoY (NT$mn) 1Q2016 1Q2017 (%) Revenue 67,441 65,565 -2.8% Gross Profit 16,777 16,744 -0.2%
Slide 12: Financial Highlights – PCC (Consolidated)
Financial Highlights – PCC (Consolidated) Revenue Gross Margin (NT$mn) (NT$mn) 80,000 32.0% 70,383 70,000 64,505 30.0% 60,000 55,269 28.0% 50,000 25.6% 25.5% 269,081 274,895 40,000 24.9% 26.0% 243,976 24.0% 30,000 22.6% 16,777 16,744 24.0% 20,000 67,441 65,565 22.0% 10,000 0 20.0% 2014 2015 2016 1Q2
Slide 13: Financial Highlights – PCC (Consolidated)
Financial Highlights – PCC (Consolidated) Segment Revenue Segment Income(1) Footwear Retail Other Footwear Retail Other 0.3% 0.3% 0.4% 0.3% 0.4% 1.8% 1.6% 1.7% 1.5% 1.8% 100% 100% 10.7% 24.6% 17.8% 19.4% 19.3% 27.1% 28.7% 23.5% 30.5% 32.1% 80% 80% 60% 60% 87.5% 40% 40% 80.6% 78.9% 75.0% 78.9% 75.1%
Slide 14: Dividend Policy
Dividend Policy Per Share FY2014(1) FY2015(1) FY2016(1) Dividend - Pou Chen (NT$) 1.50 1.50 1.50 (Cash 1.50) (Cash 1.50) (Cash 1.50) - Yue Yuen (HK$) 1.15 1.20 1.40 (Interim 0.35 / Final 0.80) (Interim 0.40 / Final 0.80) (Interim 0.40 / Final 1.00) - Pou Sheng (HK$) - - 0.04 (Interim 0.02 / Final 0.