Slide 1: Delta Electronics, Inc. 4Q 2023 Results
Delta Electronics, Inc. 4Q 2023 Results 1 March 2024
Slide 2: Basis of financial numbers (IFRS)
◼ The financial numbers hereby are based on International Financial Reporting Standards (IFRS) ◼ Cumulative consolidated numbers have been audited by CPA
Slide 3: 4Q 2023 Financial Results
4Q 2023 Financial Results 3 Delta Confidential
Slide 4: Sales Revenues & Gross Profits
Sales Revenues & Gross Profits NT$ billion Y/Y Q/Q Sales 4Q22 1Q23 2Q23 3Q23 4Q23 Sales 105.6 92.9 100.5 107.8 100.0 Sales -5% -7% 營收 GP 4Q22 1Q23 2Q23 3Q23 4Q23 GP +3% -5% 毛利 GP 29.6 25.6 29.4 31.8 30.4 GPM 28.0% 27.5% 29.2% 29.6% 30.4% 4 Delta Confidential
Slide 5: Operating Profits & Expenses
Operating Profits & Expenses NT$ billion 40.0 35.0 Y/Y Q/Q 30.0 25.0 8.8 8.8 9.6 10.0 R&D 20.0 7.7 10.4 R&D SG&A 15.0 10.1 10.2 10.1 +14% +3% 9.5 OP 10.0 5.0 10.7 8.4 10.3 11.9 10.3 0.0 SG&A +0% -2% (% of sales) 4Q22 1Q23 2Q23 3Q23 4Q23 R&D 8.3% 8.3% 8.8% 8.9% 9.9% OPEX +6% +0% SG&A 9.6% 10.2% 10.2%
Slide 6: Performance by Segment
Performance by Segment Sales% NT$ million Sales Y/Y Q/Q Profits Y/Y Q/Q Power 58% 65% 62% Electronics 61,992 +1% -12% 9,009 -5% -17% 15% 13% 12% Automation 12,634 -17% -4% -230 -147% -140% 27% 23% 25% 4Q22 3Q23 4Q23 Infrastructure 25,330 -12% +5% 1,584 +95% +231% Power Electronics Automation Infrast
Slide 7: Non-operating Profits
Non-operating Profits NT$ million 4Q22 3Q23 4Q23 NT$ billion Gains or losses from investment* 317 320 1,387 Non-OP Interest income 40 206 370 4Q22 1Q23 2Q23 3Q23 4Q23 non-op 0.7 1.6 1.6 1.9 2.6 FX income and valuation of FX forward (324) 537 97 % of sales 0.7% 1.7% 1.7% 1.7% 2.6% Others 713 811 746
Slide 8: Profits before Tax v.s EBITDA
Profits before Tax v.s EBITDA NT$ billion Profits before tax 4Q22 1Q23 2Q23 3Q23 4Q23 Y/Y Q/Q PBT 11.5 10.0 11.9 13.8 12.9 % of sales 10.9% 10.7% 11.9% 12.8% 13.0% Profits before tax +12% -6% EBITDA 4Q22 1Q23 2Q23 3Q23 4Q23 EBITDA +14% -3% EBITDA 16.7 15.3 17.4 19.7 19.0 % of sales 15.8% 16.5% 17.4%
Slide 9: Net Profits after Tax
Net Profits after Tax NT$ billion NT$ million 4Q22 3Q23 4Q23 Net profits Profit before after tax income tax 11,524 13,771 12,964 4Q22 1Q23 2Q23 3Q23 4Q23 稅後淨利 7.9 6.9 8.2 9.3 9.0 Income tax (2,427) (2,741) (2,608) 稅後淨利率 7.5% 7.4% 8.1% 8.7% 9.0% Non-controlling interest (1,187) (1,667) (1,383) Y/Y Q/
Slide 10: EPS
EPS Unit: NT$ 3.14 3.60 3.46 3.05 2.66 4Q22 1Q23 2Q23 3Q23 4Q23 *EPS based on shares outstanding of 2,598 million. 10 Delta Confidential
Slide 11: 2023 Full-year Financial Results
2023 Full-year Financial Results 11 Delta Confidential
Slide 12: Sales Revenues & Gross Profits
Sales Revenues & Gross Profits NT$ billion Sales Y/Y 2022 2023 Sales 384.4 401.2 Sales +4% 營收 GP GP +6% 毛利 2022 2023 GP 110.8 117.2 GPM 28.8% 29.2% 12 Delta Confidential
Slide 13: Operating Profits & Expenses
Operating Profits & Expenses 120.0 NT$ billion 110.0 Y/Y 100.0 31.8 36.1 90.0 80.0 R&D 70.0 60.0 37.6 40.2 R&D +13% SG&A 50.0 40.0 OP 30.0 20.0 41.4 40.9 10.0 SG&A +7% (% of sales) 2022 2023 R&D 8.3% 9.0% OPEX +10% SG&A 9.8% 10.0% OPEX 18.0% 19.0% OP -1% OPM 10.8% 10.2% 13 Delta Confidential
Slide 14: Performance by Segment
Performance by Segment Sales% NT$ million Sales Y/Y Profits Y/Y 59% 62% Power Electronics 248,261 +9% 35,971 +12% 14% 13% 27% 25% Automation 54,295 +0% 1,464 -53% 2022 2023 Power Electronics Infrastructure 98,475 -4% 3,516 -43% Automation Infrastructure Others 14 Delta Confidential
Slide 15: Non-operating Profits
Non-operating Profits NT$ billion NT$ million 2022 2023 Gain on disposal of investment 321 2,528 Non-OP Interest income 38 899 2022 2023 non-op 4.6 7.7 % of sales 1.2% 1.9% FX income and valuation of FX forward 1,431 1,068 Others 2,836 3,197 Total 4,626 7,692 15 Delta Confidential
Slide 16: Profits before Tax v.s EBITDA
Profits before Tax v.s EBITDA NT$ billion Profits before tax Y/Y 2022 2023 PBT 46.1 48.6 % of sales 12.0% 12.1% Profits before tax +6% EBITDA EBITDA 2022 2023 +9% EBITDA 65.6 71.4 % of sales 17.1% 17.8% 16 Delta Confidential
Slide 17: Net Profits after Tax
Net Profits after Tax NT$ billion NT$ million 2022 2023 Net profits Profit before income tax after tax 46,065 48,642 2022 2023 Income tax (9,074) (9,762) Net profits 32.7 33.4 after tax % of sales 8.5% 8.3% Non-controlling interest (4,325) (5,487) Y/Y Net profits Net profit after tax 32,666 33,393 +
Slide 18: EPS
EPS Unit: NT$ +2% 12.58 12.86 2022 2023 *EPS based on shares outstanding of 2,598 million. 18 Delta Confidential
Slide 19: Proposed Cash Dividend
Proposed Cash Dividend Cash dividend per share: NT$ 6.43 19 Delta Confidential
Slide 20: Business Categories
Business Categories 業務範疇 Power Electronics Mobility Automation Infrastructure 電源及零組件 交通 自動化 基礎設施 • Components • EV Powertrain System • Industrial Automation • ICT Infrastructure 零組件 電動車動力系統 工業自動化 資通訊基礎設施 • Power and System • Building Automation • Energy Infrastructure 電源及系統 樓宇自動化 能源基礎設施 • Fans & The
Slide 21: Smarter. Greener. Together.
Smarter. Greener. Together.