Taiwan Sakura Corporation · TWSE:9911
Taiwan Sakura — Q1 2023 Earnings Presentation
32 slides from Taiwan Sakura's earnings presentation, 2023
Slide 1: SAKURA GROUP
goons ites SAKURA GROUP
Slide 2: Disclaimer
Disclaimer The information provided in this presentation, including the forward-looking views mentioned, is the predictive information obtained by the company based on internal and external sources and the overall economic development. These abovementioned descriptions also include risks and uncer
Slide 3: Company Profile
Company Profile Chairman Chang, Yung-Chieh Paid-in Capital NTD 2.21 billion Production Base Taiwan Head Office／ Daya 2nd div. Shenkang／ Wufeng Employees：1,000 China Kunshan, Jiangsu (Sakura China) Shunde,Guangdong (Sakura Shunde) Employees：1,500 Vietnam Binh Duong Employees：110 Head Office 1978 1992
Slide 4: Operation Locations
Operation Locations Deepen Taiwan, Focus on mainland China, Look to Asia 4
Slide 5: Production base
Production base Head Office Dish Dryer • 2 production bases 中國 China • Jiangsu, Zhejiang, Shanghai, Sichuan and Guangdong are the main sales core areas Shenkang plant • More than 10,000 sales locations Range hood • 4 production bases Punch/Sheet metal/Painting Taiwan • More than 3,500 sales lo
Slide 6: Investment Structure
Investment Structure 台灣櫻花 Taiwan Sakura Capital：NTD 2,211mn 43.19% 100% 100% 100% 100% Total holding 卜大實業 櫻花家居 雅適國際 新加坡控股 44.39% Sakura B.V.I. Puda Sakura Home Topax Sakura Singapore Capital: USD 17.15 mn Capital: NTD 296 mn Capital: NTD 150 mn Capital: NTD 120 mn Capital: USD 4 mn 54.99% 45% 100% 越
Slide 7: Brand Milestones
Brand Milestones 1978 “ SAKURA ” brand established 1980 “Free oil filters with a door-to- door delivery” as the free permanent service 1987 “Free examination of water heater” as the free permanent service 1994 “SAKURA (China) Bath and Kitchen Co., Ltd” officially began the production and sales activ
Slide 8: Brand Awards
Brand Awards Received the Taiwan Excellence The No. 1 ideal brand in consumers’ minds Awards for 19 consecutive years for 36 consecutive years 1997～2022 56 Excellence Awards 6 Excellence Silver Award 8
Slide 9: Business Concept
Meet the needs of Business Concept local consumers Innovation 創新 DFSS/DFMEA High-pressure leak test Ignition switch test More than 200 R&D personnel in the group The number of patents exceeds 500 Constant temperature and Withstand voltage test moisture duration test 品質 服務 Has the most test equipment
Slide 10: Core Mission
Core Mission A value enterprise and the maximum of the value for consumers and shareholders. ROE、Dividend yield Dividend Payout Strategy (%) (NT$) 25 EPS 5 4.62 4.66 Cash dividend per share 18.8 19.6 18.4 19.3 18.3 4.06 4.08 20 17.0 17.7 4 3.65 ROE 3.29 15 13.3 12.3 3 2.75 3.60 3.70 3.2 9.0 1.97 1.8
Slide 11: Multi-brand management
Multi-brand management Including renowned brands from both To meet the needs of different customer domestic and international markets. segments. Water Heater Import Kitchen Solution Bath Module House Deco Kitchen Appliance Kitchen Appliances 1978 1989 1989 2008 2020 台灣廚電代理 2008 11
Slide 12: Multi-category operation
Multi-category operation Take the family as the core of the product layout One-stop shopping Kitchen and Kitchen Solution House Deco bathroom appliances Plan Design Kitchen Solution Import House Deco Kitchen Appliances Water Heater Kitchen Appliance Bath Module 12
Slide 13: Multi-channel operation
More than 3,500 sales locations Multi-channel operation Sakura’s channel penetration rate exceeds 80% Distributor Brand store Taiwan Sakura Direct Dealer Regional Branches Regional Agents Sanitary materials Special dealer (kitchen solution、import department) (9) Kitchenware factory Store/Shop Land d
Slide 14: Business Prospection
Business Prospection 願景 美 好 居 家 生 活 的 創 造 者 Vision The creator of a better home life 滿足各式家庭 輕鬆擁有 一站式服務 Meet the needs of a var One-stop service 以家庭為發展核心 iety of families Easy to afford Making Family the Central Focus of Development 使命 以整體解決方案全心創造優質家庭生活 策略 Create high-quality family life wholeheart M
Slide 15: Enhance brand value with digital customer service
Enhance brand value with New experience with digital customer service One-stop intelligent service platform 一鍵登錄 即享保固 一鍵完成 服務申請 一鍵掌握 產品資訊 輕鬆搞定 狀況排除 Integrate and upgrade six major systems to enhance customer service experience Smart Service for Instant Convenience Sakura Smart AI Technology QRcode，
Slide 16: Develop core technology to improve competitiveness
Develop core technology to improve Core technology competitiveness 2. Maintain key component 1. Main product with patent monopoly power Strengthen basic research and enhance cost control capabilities. Developing the main product technology path, focusing on the direction of resource input. Shower sp
Slide 17: Integration group resource: Marketing Resource integrate
Integration group resource Marketing Resource integrate 1. Project nexus platform Provide one-stop service for builders and become a long-term strategic partner of builders Brand trust one-stop service project business capability Service Guarantee 2. Channel projects Explore the future channel Produ
Slide 18: Integration group resource: Integration production resource
Integration group resource Integration production resource 1. Enhance procurement ability 2. Integrate supply chain strategy Combining the production resources between three places to enhance Integrate the procurement of cabinets technologic and speed competitiveness and kitchen appliances and stren
Slide 19: Establish Wufeng Plant, Expanding Wuri Plant
Wufeng Plant schedule For the future growth demand of Kitchen Smart Factory Solution and Whole House Customization Investment Plan Total building area：about 21,800 square meters Production apacity：about 60,000 sets Progress Land acquisition 2019-2021 and transfer Plan Phase 1- Establish Wufeng P
Slide 20: 2022 Revenue Breakdown
2022 Revenue Breakdown Total Revenue : NT$ 8.21 bn Revenue of Water Heater / Kitchen Appliance (YoY+8.5%) NT$ 4.95 bn Import Topax (YoY+4.5%) 15% Property 0.27 billion Export Developer Distributor、 0.54 billion 3% Brand Kitchenware 6% Sanitary Factory Materials 7% 12% Sakura 28% 85% Brand Store 11%
Slide 21: 2022 Revenue Breakdown
2022 Revenue Breakdown Total Revenue : NT$ 8.21 bn Revenue of Kitchen Solution : NT$ 2.14 bn (YoY+8.5%) (YoY+15.1%) Import Export 0.27 billion 0.54 billion 3% 7% Brand store 28% Channel Kitchen Solution Water heater & Land developer or 2.14 billion Kitchen appliance Construction companies 4.95 billi
Slide 22: Taiwan Market _ Water Heater & Kitchen Appliance
Taiwan Market _ Water Heater & Kitchen Appliance Taiwan overall market Market share in Taiwan price hike (1000 units) energy-efficiency effect S+T Sakura Topax subsidies 1,784 48.2% 46.8% 45.8% 45.4% 43.8% 42.7% 43.9% 1,661 1,656 42.2% 42.5% 42.1% 1,572 1,592 1,584 1,557 1,527 1,537 1,525 38.8% 37.9
Slide 23: Gas Water Heater
Gas Water Heater (1000 units) (千台) Overall market RF+FE Total Market share (S+T) 516 504 509 508 516 FY2013 FY2022 497 498 490 488 467 463 472 447 (69%) 343 339 Others S+T Others 322 320 (59%) S+T 293 288 292 (56%) 46.9% 53.1% 43.3% RF (Traditional) 278 284 56.7% 265 251 244 237 230 232 217 215 209
Slide 24: Gas Stove
Gas Stove (1000 units) Overall market Market share (S+T) 600 Market：450,000~500,000 units per year 510 508 FY2013 FY2022 468 457 475 500 454 451 453 455 423 425 402 378 400 S+T S+T 300 Used house transfer Others Others 39.5% 44.8% 55.2% 200 Building license 60.5% 100 Building use permit 2010 2011 20
Slide 25: Rang Hood
Rang Hood (1000 units) Overall market Market share (S+T) Market：350,000~400,000 units per year 437 FY2013 FY2022 412 394 370 369 373 373 366 337 352 312 311 307 S+T 36.4% Others S+T Used house transfer Others 52.5% 47.6% 63.6% Building license Building use permit 2010 2011 2012 2013 2014 2015 2016 2
Slide 26: Kitchen Solution
Kitchen Solution Overall Market Steady growth in Increasing benefits of about 160,000~180,000 sets Sales of Land Developer the Brand Stores Overall market (1000 sets) Sales of Property developer (NT$ mn) Sales of brand stores (NT$ mn) 190 191 1,324 1539 Brand stores 177 175 177 172 178 163 169 167 1
Slide 27: Development Plan_ Whole House Customization
Development Plan_ Whole House Customization Taiwan Home Decor Market Size Operational Model Development Focusing on builder customers and establishing strong part nerships to become their best strategic partner. >100 bn Property Developer The overall industry is fragmented, and there is no absolut
Slide 28: Whole House Customization
Whole House Customization ６ ５ Master Bedroom Children's Room ７ ４ Living and dining room 1 2 3 2+1 Room with Nordic style 28
Slide 29: Overseas market
Overseas market Integration of Group Management Resources International Business Department Look to Asia International Planning Office Focus on mainland China Deepen Taiwan Overseas International subsidiaries Business Department Vietam SKURA CHINA Primary Regional Strategy MK 【International Business
Slide 30: Financial Highlights
Financial Highlights Net Revenue Net Income (NTD mn) EPS (NTD) 8,213 7,569 6,628 6,299 5,986 5,601 5,644 5,149 4,852 4.62 4.66 4.06 4.08 3.65 3.29 2.75 1.97 1.89 1,943 1.00 800 889 893 1,008 1,009 539 517 701 720 217 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023Q1 30
Slide 31: Financial Highlights
Financial Highlights 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023年Q1 (NTD mn) Amount % Amount % Amount % Amount % Amount % Amount % Amount % Amount % Amount % Amount % Net Revenue 4,852 100.0% 5,149 100.0% 5,601 100.0% 5,644 100.0% 5,986 100.0% 6,299 100.0% 6,628 100.0% 7,569 100.0% 8,213 100.0
Slide 32: THANK YOU!!
一起成為 美好居家生活的創造者 One Together, The creator of a better home life THANK YOU!!