Caswell, Inc. · TWSE:6416
Caswell — 2024 Investor Conference
22 slides from Caswell's conference presentation, Nov 19, 2024
Slide 1: 2024 Investor Conference
2024 Investor Conference 2024/11/19 CASwell Inc. |
Slide 2: Forward-looking Statement
Forward-looking Statement Forward-looking statements represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of our control. These may include estimates, projections and statements relating to our business plans, objectives and expecte
Slide 3: Agenda
Agenda Chairman YT3Q 2024 Overview and 2024 Outlook Steve Chu CFO YT3Q 2024 Financial Highlights Carrie Huang President 2024/25 Business Highlights and Outlook Reaforl Hung Spokesperson Market, Product and Technology Update Hans Chen Chairman 2025 Business Outlook and Strategy Steve Chu Q&A CASwell
Slide 4: YT3Q24 Overview and 2024 Outlook
YT3Q24 Overview and 2024 Outlook Chairman Steve Chu CASwell Inc. | 4
Slide 5: YT3Q 2024 Overview
YT3Q 2024 Overview Slow rate cuts Ongoing war Sales Revenue 30.8E YoY +0.75E ,+2.5% Inventory cycle time US Project postpone prolonged Gross 24.7%→24.0% YoY -0.7ppt. Gross Profits 7.4E YoY -0.02E , -0.3% Profit% New generation product cost optimization after launch Operating 2.5E YoY -0.45E
Slide 6: YT3Q 2024 Financial Highlights
YT3Q 2024 Financial Highlights CFO Carrie Huang CASwell Inc. | 6
Slide 7: YT3Q 2024 Financial Highlights
YT3Q 2024 Financial Highlights 2023 2024 NT$ Million YoY YT3Q YT3Q Sales Revenue 3,009 3,084 2.5% Gross Profits 744 742 -0.3% Gross Margin (%) 24.7% 24.0% -0.7ppt Operating Expenses 446 489 9.7% Operating Profits 298 253 -15.3% Operating Margin (%) 9.9% 8.2% -1.7ppt Interest Income(Expense) -5 -7 -
Slide 8: 2024 and 2025 Business Highlights and Outlook
2024 and 2025 Business Highlights and Outlook President Reaforl Hung CASwell Inc. | 8
Slide 9: 2024 International Situation & Industrial Dynamics
2024 International Situation & Industrial Dynamics Int. Situation Geopolitics War PRC Economics Global Interest Rate Business Dynamics Cybersecurity (IT&OT) SASE Cloud Services AI Security CASwell Inc. | 9
Slide 10: YT3Q 2024 Sales Revenue by Product Line
YT3Q 2024 Sales Revenue by Product Line Product Cybersecurity SD-WAN UCS Others YoY (%) - 4% 65% - 17% 47% 2500 2000 2,281 2,200 (76%) (71%) 1500 1000 500 281 463 370 309 77 112 (9%) (15%) (12%) (10%) (2%) (4%) 0 Unit：NT$M 2023 2024 2023 2024 2023 2024 2023 2024 2023 / Cybersecurity SD-WAN UCS Other
Slide 11: YT3Q 2024 Sales Revenue by Geography
YT3Q 2024 Sales Revenue by Geography Aera EMEA & APAC USA EU PRC YoY (%) 11% - 4% - 7% - 15% 1800 1600 1,675 1400 1,515 (54%) 1200 (50%) 1000 800 872 836 600 (29%) (27%) 152 129 400 469 437 (5%) (4%) 200 (16%) (14%) 0 Unit：NT$M 2023 2024 2023 2024 2023 2024 2023 2024 2023 / 2024 EMEA & APAC USA EU P
Slide 12: 2024 Company Operations Overview
2024 Company Operations Overview • In 2024, customers continued to adjust their inventory levels. The BB Ratio of H1’24 was 0.88 (H1’23 1.09), while the BB Ratio of H2’24 was revised upward to 1.02 (H2’23 BB Ratio 0.91). • The revenue of the top 10 IT security service brands varies. Overall, the com
Slide 13: 2025 Operations Overview – Target Market and Product Lines
2025 Operations Overview – Target Market and Product Lines SD-WAN UCS Network Security （SASE） (Unified Communication Server) • The new generation of ADC high-end and • The secure access service edge • High-end products (X86-Based) for high unit price products are in mass (SASE, X86-Based) product li
Slide 14: Market, Product and Technology Update
Market, Product and Technology Update Spokesman Hans Chen CASwell Inc. | 14
Slide 15: Market, Product and Technology (2025 ~ 2027)
Market, Product and Technology (2025 ~ 2027) Cybersecurity Connectivity Storage AI Latency Bandwidth IT (Information Technology) OT (Operation Technology) Communication/Data (CT/DT) IT Security OT Security DPU 1 2 3 4 5 6 7 8 (Intel & AMD) (High-End) Accelerators ADC & AI Edge High-End UCS OT Securi
Slide 16: OT Security Market – Case Study
OT Security Market – Case Study OT Security T A M (2026) > US$ 12B | C A G R > 20% OT Security Product Line Semiconductor Autmotive OT Security – Mid-End & Low-End Railway Energy OT Security – High-End Chemistry Oil CASwell Inc. | 16
Slide 17: Strategical Planning for Cybersecurity, Edge Computing and AI
Strategical Planning for Cybersecurity, Edge Computing and AI Cybersecurity ADC & Edge AI DPU Accelerators (High-end) (High-end) (Smart NICs) TAM (2028) > US$ 15B TAM (2028) > US$ 30B TAM (2028) > US$ 2B TAM CAGR > 16% CAGR > 30% CAGR > 25% • 5G Cybersecurity, Cloud • 5G (6G), Massive IoT Deployment
Slide 18: Secure Edge AI Solutions – Case Study Based on EV Charging Application
Secure Edge AI Solutions – Case Study Based on EV Charging Application Secure Edge Solutions (fECP) Secure Edge System Important Factors for Industry Evolution Policy Support (Subsidies, Tax Security for EV Charging Software Features System Features > US$ 35B Incentives), Technological EV Charging >
Slide 19: 2025 Business Outlook and Strategy
2025 Business Outlook and Strategy Chairman Steve Chu CASwell Inc. | 19
Slide 20: Evolution of International Trade and Ennoconn Group's Strategies
Evolution of International Trade and Ennoconn’s Group’s Strategies • The service scope of the Ennoconn group's global production and service locations for the reduction of the tariffs impact Tax • Establish new partners for the DRP in the United States, complete the transformation of the subsidiary
Slide 21: Thank You!
ASWELL ‘Compile: Thank You!
Slide 22: Q&A CASwell Executives
Q&A CASwell Executives CASwell Inc. | 22