Wistron Corporation · TWSE:3231
Wistron — Investor Presentation (April 2024)
19 slides from Wistron's investor presentation, Apr 9, 2024
Slide 1: Wistron Corporation Investor Presentation
Wistron Corporation Investor Presentation
Slide 2: Disclaimer
Disclaimer ▪This presentation is private and confidential and is being made available to the recipient on the express understanding that it will be kept confidential and that the recipient shall not copy, reproduce, distribute or pass to third parties this presentation in whole or in part at any tim
Slide 3: Corporate Overview
Corporate Overview Corporate Development Acer carved out Listed on the Acquired the Set up Wistron Wiwynn listed on Sold China smart Acquired KOE for DMS business Taiwan Stock monitor business Medical Tech and the Taiwan Stock device assembly automotive LCM and certain HIB Exchange by the from Lite-
Slide 4: A Technology Powerhouse for ICT Products
A Technology Powerhouse for ICT Products Client Products Enterprise & Industrial & Service & Recycling Networking Automotive NB, DT, Monitor, VoIP, Server, Storage, AI Server, IPC, Enterprise Mobility, Repair and Peripherals GPU Accelerator Card Professional Display Spare Parts Services Switch, Rout
Slide 5: Wistron's Resilient Business Positions
Wistron’s Resilient Business Positions Top 3 Top 2 Top 1 Notebook PC Display Monitor Enterprise ICT Industry Desktop PC AI Server Network Enterprise Mobility Server MB After-sales Services Baseboard Security Device (Industrial Handheld) (by Revenue) Device 5
Slide 6: End-to-End Solutions Offering One-Stop Shop
End-to-End Solutions Offering One-Stop Shop Design Manufacturing & Logistics • Software • Assembly services • Industrial design • Quality management and control services • Electronic / mechanical engineering • Global supply chain management After-Sales Services Technical Services • LCM modules • Man
Slide 7: End-to-End Extensive Services from Product Concept to After-Sales Support
End-to-End Extensive Services from Product Concept to After- Sales Support Prototype Concept Early Design Automated Prototype Concept Early R&D Investment Discussion Engagement Manufacturing High Product Quality Discussion 1,500 Software Engineers Efficient Distribution 8,800 Engineers Reverse Logis
Slide 8: Global Manufacturing Footprint
Global Manufacturing Footprint China Czech Republic Zhongshan Taiwan Server Brno VoIP DT Server Hsinchu Display Data center AI Server, GPU Module, Keyboard IPC, Server, Storage, Network devices Switch Chongqing Mexico Kaohsiung NB LCM DT Docking Juarez Server India Data center Chengdu Networking Ban
Slide 9: Global Coverage – R&D and Service Centers
Global Coverage – R&D and Service Centers China USA Kunshan San Jose Shanghai Zhongshan Wuhan Chongqing Chendu Brno, Czech Taiwan Istanbul, Turkey Taipei Hsinchu Kaohsiung Bangalore, India Dallas, US Hong Kong Chiba, Japan Mexico City Singapore Subic Bay, Philippines Sao Paulo, Brazil R&D Center Ser
Slide 10: Wistron Group Companies
Wistron Group Companies Wistron Wiwynn Corporation Corporation Industry-leading provider The best solution of ICT products, services provider and systems for customer in cloud services business Wistron Information Wistron NeWeb Technology & Services Corporation Corporation Industry-leading provider
Slide 11: Wistron's Vision and Missions
Wistron’s Vision and Missions Sustainability through Innovation Environmental Social Governance Innovation Sustainability Sustainability Vision Missions Aspects Strategies Trusted Innovation Partner for Technology, Sustainable supply base Recycling Sustainability & Better Lives Green products Decarb
Slide 12: Financial Highlights - 1
Financial Highlights - 1 Revenue (NT$ B) Operating Income (NT$ B) 985 27.4 27.4 878 845 862 867 16.3 13.3 14.4 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 ROE (%) EPS (NT$) 14.0 4.0 4.1 12.8 3.8 11.4 9.5 10.3 3.1 2.4 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 12
Slide 13: Financial Highlights - 2
Financial Highlights - 2 Current Ratio (%) Quick Ratio (%) 125.4 84.2 83.2 116.7 115.3 115.3 119.6 74.7 69.9 64.1 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Debt Ratio (%) EBITDA (NTD$ B) 45.4 41.7 80.0 81.4 76.0 30.5 72.6 71.5 27.6 29.2 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 13
Slide 14: Historical Income Statement
Historical Income Statement NT$ M 2023 2022 2021 2020 2019 Net Revenue 867,057 984,619 862,083 845,012 878,255 Realized gross profit 68,983 8.0% 69,729 7.1% 51,135 5.9% 46,053 5.4% 42,158 4.8% Selling (10,828) -1.2% (11,433) -1.2% (9,467) -1.1% (8,866) -1.0% (9,243) -1.1% Administrative (6,870) -0.8
Slide 15: Income Statement (2023 vs. 2022)
Income Statement (2023 vs. 2022) NT$ M 2023 2022 YoY Net revenue 867,057 984,619 -11.9% Realized gross profit 68,983 7.96% 69,729 7.08% -1.1% Selling (10,828) -1.25% (11,433) -1.16% -5.3% Administrative (6,870) -0.79% (5,815) -0.59% 18.1% Research & development (23,894) -2.76% (25,008) -2.54% -4.5%
Slide 16: Income Statement (Q4'23 vs. Q3'23 and Q4'22)
Income Statement (Q4’23 vs. Q3’23 and Q4’22) NT$ M Q4 2023 Q3 2023 QoQ Q4 2022 YoY Net revenue 230,540 217,040 6.2% 263,854 -12.6% Realized gross profit 21,412 9.29% 17,042 7.85% 25.6% 22,678 8.59% -5.6% Selling (2,725) -1.18% (2,749) -1.27% -0.9% (3,078) -1.17% -11.5% Administrative (1,834) -0.80%
Slide 17: Balance Sheets
Balance Sheets NT$ M 2023/12/31 2023/09/30 2022/12/31 Cash & ST Investments 75,232 17% 57,014 12% 66,337 15% A/R 121,342 27% 143,702 31% 100,234 23% Inventory 119,720 26% 133,647 29% 156,889 36% Non-current assets classified as held for sale 29,384 6% 25,964 6% 0% Other current Assets 15,783 3% 17,6
Slide 18: Cash Flows
Cash Flows NT$ M 2023 2022 Cash* (Beginning of period) 66,337 70,154 Cash flow from Operation Consolidated PBT 24,321 24,711 Depreciation & amortization 12,345 11,016 Profit/loss of financial assets & liabilities at fair value 345 4,131 Changes in A/R (21,126) 68,884 Changes in A/P 12,860 (71,078) C
Slide 19: Dividend History
Dividend History 2019 2020 2021 2022 2023 Cash (NT$) 2.0 2.2 2.2 2.6 2.6 Stock (NT$) - - - - - EPS (NT$) 2.40 3.10 3.76 4.01 4.08 Cash Dividend Payout (%) 83% 71% 59% 65% 64% Total Dividend Payout (%) 83% 71% 59% 65% 64% 19