Fusheng Precision Co. Ltd. · TWSE:6670
Fusheng Precision — Q1 2024 Earnings Presentation
14 slides from Fusheng Precision's earnings presentation, May 8, 2024
Slide 1: Fusheng Precision Co. Ltd. 2024/Q1
Fusheng Precision Co. Ltd. TWSE：6670 2024/Q1 May. 08, 2024 Confidential & Propritary 1/14
Slide 2: Company Profile
Company Profile Financial Performance Key Messages Q&A Confidential & Propritary 2/14
Slide 3: Fusheng Group Key Milestones
Fusheng Group Key Milestones 1953 1992 2001 2004 2010 2018/7 2018/12 Fusheng Group Set up GS in China Established Acquired and set Group Restructuring Invested NFT FSP listed in founded Electronics Division up FSPT Became the first off- Fusheng Precision: An aerospace casting TWSE The founding busin
Slide 4: FSP Global Plant Sites
FSP Global Plant Sites 股票代號：6670 Aubo (Golf Club Head & Accessories) Land: 29,728m2 & 8,720m2 Zhongshan Worldmark Headquarter & Taoyuan Factory (TiW back-end/MW&IR whole (TiW front-end/Forge/IPP) Land: 26,700m2 process/Carbon Fiber) Land: 50,000m2 & 132,905m2 Vietnam Vision FS Precision Tech (MW&IR
Slide 5: Major Customers
Major Customers Confidential & Propritary 5/14
Slide 6: Financial Performance
Company Profile Financial Performance Key Messages Q&A Confidential & Propritary 6/14
Slide 7: Statement of Comprehensive Income
Statement of Comprehensive Income 股票代號：6670 (In NT$ millions) 1Q 2024 4Q 2023 QoQ 1Q 2024 1Q 2023 YoY Net Revenue 6,369.6 7,012.3 -9.2% 6,369.6 7,086.8 -10.1% Gross Margin 1,666.9 1,856.4 -10.2% 1,666.9 1,616.7 3.1% Operating Margin 1,043.2 1,131.8 -7.8% 1,043.2 979.0 6.6% Profit before Tax 1,238.0
Slide 8: Operating Performance
Operating Performance Sales Net Profit EPS EBITDA GM % EBITDA % 40,000 40 8,000 35% 36.64 7,272 35,000 33,716 35 7,000 30% 30,000 30 6,000 25.6% 25.6% 25,000 24,381 25 5,000 24.6% 26.2% 23,215 23.6% 23.2% 25% 22.9% 23.0% 20,000 20 4,000 3,838 4,243 17,201 21.6% 18.03 18.18 3,223 16,008 16.61 2,784 2
Slide 9: EPS \ Cash Dividend \ Dividend Payout Ratio
EPS \ Cash Dividend \ Dividend Payout Ratio 股票代號：6670 NTD 40 90% $36.64 77% 77% 80% 35 67% 68% 65% 70% 30 60% 60% 25 48% $22.00 50% 20 $18.18 $18.03 $16.85 $16.61 40% 15 $12.00 $12.50 30% $11.68 $11.00 10 $9.00 $8.62 $8.00 20% $6.60 5 10% 0 0% 2017 2018 2019 2020 2021 2022 2023 EPS Cash Dividend Div
Slide 10: Balance Sheet
Balance Sheet 股票代號：6670 (In NT$ millions) 2024/3/31 % 2023/12/31 % 2022/12/31 % Cash 6,386 31.3% 4,854 24.3% 4,508 20.0% Account Receivables 3,711 18.2% 4,470 22.3% 5,648 25.0% Inventories 2,619 12.8% 3,072 15.4% 4,338 19.2% Current Assets 13,465 66.0% 13,108 65.5% 15,462 68.5% PPE 5,080 24.9% 5,048
Slide 11: Sales by Products
Sales by Products 股票代號：6670 NTDM 35,000 33,716 3% 10% 30,000 5% Others 10% 24,381 25,000 23,215 Baseball & Softball bats 4% 4% 9% Aerospace & Automotive Parts 20,000 10% 4% 6% 17,201 6% 16,008 5% 8% Skates & Boots & Protective Gears 5% 4% 15,000 14,228 5% 4% 4% Club Head Accessories 4% 1% 4% 72% 10,
Slide 12: Key Messages
Company Profile Financial Performance Key Messages Q&A Confidential & Propritary 12/14
Slide 13: Key Messages - Golf Industry _ Club
Key Messages - Golf Industry _ Club US Rounds Played – 2024 vs. 2023 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec • US Market Retail Performance : 21.2% Q1 ’24 vs Q1’23: Dollars +2.0% Q1 ’24 vs Q1’19: Dollars +32.0% 6.8% YTD ’24 vs ’23: Dollars +2.0% +4.9% YTD ’24 vs ’19: Dollars +32.0% -5.4% -16
Slide 14: Company Profile Financial Performance Key Messages
Company Profile Financial Performance Key Messages Q&A Confidential & Propritary 14/14