Delta Electronics, Inc. · TWSE:2308
Delta Electronics — Q4 2021 Earnings Presentation
32 slides from Delta Electronics's earnings presentation, Feb 25, 2022
Slide 1: Analyst Meeting Online Q&A Instructions
台達電子111年2月25日財報法人說明會 線上Q&A說明 • 會議將於 2/25 15:00 準時開始 • 與會者可於線上進行提問 • 提問前請先輸入您所屬的代表機構及姓名 • 如無法線上提問，請聯絡技術團隊 (02)8797-2088 # 5074 Delta Electronics, Inc. Feb 25, 2022 Analyst Meeting Instructions of online Q&A • The meeting will start at 15:00, Feb 25 • Participants may raise your questions via textbox
Slide 2: Smart Grid, Energy Storage System, and Energy-Trading Business Development
台達智慧電網、儲能、電力交易平台發展 Smart Grid, Energy Storage System (ESS), and Energy-Trading Business Development 2022/2/25
Slide 3: Energy transition driving industry transformation of power and automobile
能源轉型驅動 電力 與 汽車 產業質變 Energy transition is driving the industry transformation of electric power and automobile. 低碳電網 Low-Carbon Grid 電動交通 Electrified Mobility
Slide 4: Prospect of energy storage market
儲能市場未來發展與前景 Prospect of energy storage market 2025年累積容量可達 1GW/3GWh 以上 台灣 2030年預期可達 6GW/15GWh Taiwan The cumulative capacity may reach more than 1GW/3GWh in 2025, and 6GW/15GWh in 2030. 全球儲能建置加速 全球 2030年上看 US$40B 市場規模 Global Global energy storage construction is accelerating, with US$40B expected mar
Slide 5: Energy storage system can be the answer to grid challenges
儲能系統是電網挑戰的解方 Energy storage system can be the answer to grid challenges 電網面貌改變 伴隨著 電網穩定 與 電力調度 問題 The challenges of the grid stability and power dispatching will also come along with the transformation of the grid. 儲能系統的 調控 是問題的解方 整合再生能源、儲能、充電的能源基礎設施會是未來發展的大方向 With the capability of rapid power char
Slide 6: Smart dispatching of ESS can help realize smart grid
儲能系統「智慧調度」 實現智慧電網 Smart dispatching of ESS can help to realize the success of smart grid 供電端確保可靠度與穩定度 工商企業用戶端應用 Ensuring Reliability and Stability on Power Supply Side Applications on the Enterprise Side 再生能源發電廠 輸配電網 回應趨勢 Respond to trends Renewable Power Plant Transmission & Distribution 讓不可控的再生能源穩
Slide 7: Energy Trading Platform established for renewable energy grid impact
因應大量再生能源併網衝擊 建立電力交易平台 Energy Trading Platform established to minimize the impact of a large amount of renewable energy on the grid 台灣政府能源轉型目標 台電電力交易平台穩定電網 Taiwan government’s policy goals for energy transition Taipower Company’s Energy Trading Platform 2025年達20%（20GW光電及5.9GW離岸風電） Reach 20% in 2025 w
Slide 8: Delta Pingjhen Plant Energy Storage System for AFC Service
台達平鎮廠儲能系統 參加調頻備轉輔助服務 Delta Pingjhen Plant Energy Storage System for TPC Automatic Frequency Control (AFC) Service 建立完整儲能解決方案 Build complete energy storage solutions and deepen key technology development. 提供客戶合適儲能系統方案 Provide suitable energy storage system solution to assist customers in response to
Slide 9: First in Taiwan to achieve various types of ESS applications
插旗歐美日台 台灣儲能應用覆蓋率最高 The first in Taiwan to achieve various types of ESS applications 台電金門夏興電廠 Taipower Xiaxing Power Plant 2MW, 發電機備援、頻率調節 Generator backup and frequency regulation 台達桃園平鎮廠 Delta Pingjhen Plant 5MW, 調頻備轉輔助服務 Regulation reserve ancillary service (AFC) 9
Slide 10: Delta ESS and Energy Infrastructure Solution
台達儲能與能源基礎設施解決方案 Delta ESS and Energy Infrastructure Solution DeltaGrid® 能源管理系統 Energy Management System 再生能源 Renewable Energy 功率調節系統 Power Conditioning System (PCS) • 儲能系統能源管理 ESS Energy Management • 電力交易輔助服務管理 Energy-Trading Management • 電動車充電站管理 EV Charging Management • 維運管理 Operation & Maintenanc
Slide 11: The next energy storage application - EV charging station
下一個儲能應用－走入電動車充電站 The next energy storage application - EV charging station 整合再生能源與儲能，具微電網概念的電動車充電基礎設施 Transforming EV charging station to microgrid by integrating renewable energy, energy storage, and EV charger and energy management system 太陽能/再生能源 Solar/Renewables 能源與維運管理 Energy & Facility Operati
Slide 12: Delta Electronics, Inc. Q4 2021 Results
Delta Electronics, Inc. Q4 2021 Results 台達電子2021年第四季財報法人說明會 25 Feb 2022
Slide 13: Basis of financial numbers (IFRS)
• The financial numbers hereby are based on International Financial Reporting Standards (IFRS) 本簡報財務數字係根據國際財務報導準則編製 • Cumulative consolidated numbers were audited by CPA 合併數字經會計師查核簽證 13
Slide 14: Q4 2021 Financial Results
Q4 2021 Financial Results 2021年第四季結算數字 14
Slide 15: Sales Revenues & Gross Profits
Sales Revenues & Gross Profits 合併營收及毛利 NT$ billion 新台幣十億元 y/y q/q Sales 年對年 季對季 營收 4Q20 1Q21 2Q21 3Q21 4Q21 Sales 78.5 72.5 78.8 79.6 83.8 Sales +7% +5% 營收 GP 毛利 4Q20 1Q21 2Q21 3Q21 4Q21 GP -8% -1% GP 24.4 21.6 23.7 22.5 22.4 毛利 GPM 31.1% 29.8% 30.1% 28.3% 26.7% 15
Slide 16: Operating Profits & Expenses
Operating Profits & Expenses NT$ billion 營業淨利及費用 新台幣十億元 25.0 20.0 6.8 7.0 y/y q/q 6.5 6.9 6.9 年對年 季對季 R&D 15.0 7.9 7.9 SG&A 10.0 7.6 7.9 8.2 R&D +1% 0% OP 研發費用 5.0 9.7 7.5 8.8 7.8 7.3 0.0 SG&A (% of sales) 4Q20 1Q21 2Q21 3Q21 4Q21 +4% +4% 銷管費用 R&D 8.7% 8.9% 8.8% 8.6% 8.2% OPEX +3% +2% SG&A 10.0% 10.
Slide 17: Performance by Segment
Performance by Segment 主要部門表現 Sales% NT$ million 營收佔比 新台幣百萬元 Sales Profits Power Electronics Automation y/y q/q y/y q/q Infrastructure 年對年 季對季 年對年 季對季 Others Power Electronics 49,226 +6% +3% 5,244 -21% -8% 電源及零組件 59% 60% 59% Automation 11,665 +16% +3% 1,047 -9% +15% 自動化 13% 14% 14% Infrastructure 22
Slide 18: Non-operating Profits
Non-operating Profits 業外損益 NT$ billion NT$ million 4Q20 3Q21 4Q21 新台幣十億元 新台幣百萬元 Gain on disposal of investment (15) 0 0 處分投資損益 Non-OP Interest income 32 44 1 利息收益 業外損益 FX income 12 412 131 匯兌損益 Others 121 53 1,008 4Q201Q212Q213Q214Q21 其他 non-op 0.1 1.3 1.3 0.5 1.1 Total % of sales 0.2% 1.8% 1.7% 0.6
Slide 19: Profits before Tax vs EBITDA
Profits before Tax v.s EBITDA 稅前淨利及息稅折舊及攤銷前利潤 NT$ billion Profits 新台幣十億元 before y/y q/q tax 年對年 季對季 稅前淨利 4Q20 1Q21 2Q21 3Q21 4Q21 PBT 9.9 8.8 10.1 8.3 8.4 Profits % of sales 12.6% 12.2% 12.8% 10.4% 10.1% before -15% +2% tax 稅前淨利 EBITDA 息稅折舊及 攤銷前利潤 4Q20 1Q21 2Q21 3Q21 4Q21 EBITDA 息稅折舊及 -7% +2% EBITDA
Slide 20: Net Profits after Tax
Net Profits after Tax NT$ billion 新台幣十億元 稅後淨利 Net NT$ million 新台幣百萬元 4Q20 3Q21 4Q21 profits after Profit before income tax 9,884 8,287 8,445 tax 稅前淨利 稅後淨利 4Q20 1Q21 2Q21 3Q21 4Q21 Income tax (1,963) (1,689) (1,650) 稅後淨利 7.4 6.6 7.6 6.4 6.3 所得稅 稅後淨利率 9.5% 9.1% 9.6% 8.0% 7.5% Non-controlling interest
Slide 21: EPS
EPS 每股淨利 Unit: NT$ 新台幣元 2.86 2.54 2.92 2.41 2.45 4Q20 1Q21 2Q21 3Q21 4Q21 *EPS based on shares outstanding of 2,598 million. 每股盈餘之設算基於在外流通股數25.98億股。
Slide 22: 2021 Full-year Financial Results
2021 Full-year Financial Results 2021年全年結算數字 22
Slide 23: Sales Revenues & Gross Profits
Sales Revenues & Gross Profits 合併營收及毛利 NT$ billion 新台幣十億元 y/y Sales 年對年 營收 2020 2021 Sales +11% Sales 282.6 314.7 營收 GP 毛利 2020 2021 GP +3% GP 87.2 90.2 毛利 % of sales 30.9% 28.7% 23
Slide 24: Operating Profits & Expenses
Operating Profits & Expenses 營業淨利及費用 NT$ billion 新台幣十億元 80.0 27.2 y/y 25.5 年對年 R&D 60.0 SG&A 40.0 30.3 31.6 R&D +7% OP 研發費用 20.0 31.4 31.4 0.0 SG&A +4% (% of sales) 2020 2021 銷管費用 R&D 9.0% 8.6% OPEX +5% SG&A 10.7% 10.1% 總營業費用 OPEX 19.7% 18.7% OP +0% OPM 11.1% 10.0% 營業淨利 24
Slide 25: Performance by Segment
Performance by Segment 主要部門表現 Sales% NT$ million Sales Profits 營收佔比 新台幣百萬元 Power Electronics Automation y/y y/y Infrastructure Others 年對年 年對年 Power Electronics 187,317 +14% 21,443 -1% 電源及零組件 58% 59% Automation 45,881 +18% 4,976 +28% 自動化 14% 15% 28% 26% Infrastructure 81,080 +2% 4,945 -16% 基礎設施 0% 0%
Slide 26: Non-operating Profits
Non-operating Profits 業外損益 NT$ billion NT$ million 新台幣十億元 新台幣百萬元 2020 2021 Gain on disposal of investment (95) 90 處分投資損益 Non-OP Interest income 業外損益 168 134 利息收益 FX income 524 1,166 匯兌損益 2020 2021 Others 2,252 2,873 non-op 2.8 4.3 其他 % of sales 1.0% 1.4% Total 合計 2,849 4,263 26
Slide 27: Profits before Tax vs EBITDA
Profits before Tax v.s EBITDA 稅前淨利及息稅折舊及攤銷前利潤 NT$ billion Profits 新台幣十億元 before y/y tax 年對年 稅前淨利 2020 2021 PBT 34.3 35.6 % of sales 12.1% 11.3% Profits before tax +4% 稅前淨利 EBITDA 息稅折舊及 攤銷前利潤 2020 2021 EBITDA +5% EBITDA 50.5 53.1 息稅折舊及攤銷前利潤 % of sales 17.9% 16.9% 27
Slide 28: Net Profits after Tax
Net Profits after Tax 稅後淨利 NT$ billion 新台幣十億元 NT$ million 2020 2021 Net 新台幣百萬元 profits Profit before income tax after tax 34,275 35,628 稅前淨利 稅後淨利 2020 2021 Income tax (6,891) (7,129) 所得稅 Net profits 25.5 26.8 after tax Non-controlling interest (1,899) (1,703) % of sales 9.0% 8.5% 非控制權益 y/y Net profi
Slide 29: EPS
EPS 每股淨利 Unit: NT$ 新台幣元 9.81 10.32 2020 2021 *EPS based on shares outstanding of 2,598 million 每股盈餘之設算基於在外流通股數25.98億股。 29
Slide 30: Proposed Earnings Distribution
Proposed Earnings Distribution 董事會建議盈餘分配 Cash dividend per share: NT$5.5 現金股利每股新台幣5.5元 30 Delta Confidential
Slide 31: Business Category
Business Category 業務分類 • ICT infrastructure • EIS infrastructure • Power supplies 資通訊基礎設施 能源基礎設施 電源供應器 • Industrial automation ✓ Telecom power ✓ Off-board EV charger • Fans & thermal 工業自動化 通信電源 電動車充電設備 風扇及散熱管理 • Building automation ✓ Datacenter solutions ✓ Renewable energy • Passive components 樓宇自動化
Slide 32: Smarter. Greener. Together.
Smarter. Greener. Together. To learn more about Delta, please visit www.deltaww.com