United Orthopedic Corporation · TPEX:4129
United Orthopedic — FY2023 Earnings Presentation
18 slides from United Orthopedic's earnings presentation, Mar 19, 2024
Slide 1: United Orthopedic Corporation 2024 Investor Conference
United Orthopedic Corporation 2024 Investor Conference Jason Lin March 19, 2024
Slide 2: Safe Harbor Notice
Safe Harbor Notice Except for historical information set forth herein, this presentation contains certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from what may be expressed or implied by such statements. Investors sh
Slide 3: Agenda
Agenda The forth-quarter performance of 2023 2023 Performance Business Update Q&A 3
Slide 4: The Forth-Quarter Performance of 2023
The Forth-Quarter Performance of 2023 (NT$ thousands) 2022 Q4 2023 Q4 DIFF % Revenue 925,289 1,134,117 208,828 +23% Operating P/L 134,579 155,759 21,180 +16% Non-OP P/L (22,957) (8,405) 14,552 +63% Net Profit 82,105 119,778 37,673 +46% % 9% 11% 2% EPS 1.06 1.38 0.32 4
Slide 5: 2023 Performance
2023 Performance (NT$ thousands) 2022 2023 DIFF % Revenue 3,168,680 3,929,887 761,207 +24% Operating P/L 341,582 543,269 201,687 +59% Non-OP P/L (38,561) (34,043) 4,518 +12% Net Profit 221,533 384,201 162,668 +73% % 7% 10% 3% EPS 2.84 4.50 1.66 5
Slide 6: Operating Results by Quarter
Operating Results by Quarter Revenue Trend Chart Financial Ratios GM% OP EXP% 1,200 (NT$ millions) 1,134 10% 78% 78% 78% 928 933 934 77% 925 75% 90% 75% 74% 9% 9% 11% 11% 74% 740 744 759 11% 12% 91% 91% 89% 89% 10% 600 90% 89% 88% 65% 65% 66% 66% 64% 63% 62% 60% 0 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23
Slide 7: Overview of Global Deployments
Overview of Global Deployments Own brand, establishing distribution channels, close to the market, pursuing sustainability. 7
Slide 8: Revenue by Regions
Revenue by Regions (Direct Sales accounts for 84%) 2022 2023 3.17 billions 3.93 billions JPN 4% JPN 5% A-Spine TW TW A-Spine 10% 23% 23% 10% EU 26% INTL's EU INTL's 16% 29% 13% China USA USA 14% China 7% 17% 3% 8
Slide 9: Annual Revenue by Business Unit
Annual Revenue by Business Unit (NT$ millions) 2022 2023 YoY% Revenue 3,168.7 3,929.9 24% TW 727.8 916.7 26% INTL 500.5 504.5 1% China 204.3 118.9 -42% USA 439.1 654.0 49% EU 837.1 1,157.6 38% Japan 129.8 186.8 44% A-Spine 330.2 391.3 19% 9
Slide 10: Performance in the Taiwan market over the past three years
Performance in the Taiwan market over the past three years (NT$ millions) 917 +26% +9% 728 669 0 2021 2022 2023 10
Slide 11: Performance in the International market over the past three years
Performance in the International market 600 over the past three years (NT$ millions) 505 501 +47% +1% 341 300 0 2021 2022 2023 11
Slide 12: Performance in the US market over the past three years
Performance in the US market over the past three years 700 30 1 654 (US$ millions) (NT$ millions) 91% +49% 0.9 84% 85% 86% 439 20 21.3 410 83% 0.8 350 +7% 14.6 15.0 76% 0.7 10 0.6 0 0 0.5 2021 2022 2023 2021 2022 2023 Sales GM% Exp% 12
Slide 13: Performance in the EU market over the past three years
Performance in the EU market over the past three years (EUR millions) (NT$ millions) 1,158 1,200 38.00 80% 80% 34.7 837 +38% 28.00 26.1 71% 539 600 18.00 17.0 69% 70% +55% 69% 68% 8.00 63% 0 -2.00 60% 2021 2022 2023 2021 2022 2023 Sales GM% EXP% 13
Slide 14: Performance in the Japan market over the past three years
Performance in the Japan market over the past three years 200 (NT$ millions) 187 +44% 130 +53% 100 85 0 2021 2022 2023 14
Slide 15: Performance in the China market
Performance in the China market (NT$ millions) 217 204 645 441 -6% -42% 119 280 +58% -57% 2021 2022 2023 2021 2022 2023 Annual revenue in the Annual revenue from local Chinese market United Corp. sales to China 15
Slide 16: Revenue for January and February 2024
Revenue for January and February 2024 NT$ 668.5 millions (YoY+21%) (NT$ millions) 2023 1~2月 2024 1~2月 YoY% Revenue 550.9 668.5 21% TW 108.9 141.7 30% INTL 62.8 58.9 -6% China 14.7 21.8 48% USA 93.5 120.3 29% EU 199.4 238.4 20% Japan 26.5 38.3 44% A-Spine 45.1 48.9 9% 16
Slide 17: Dividend Policy
Dividend Policy Maintaining a high dividend payout ratio, sharing profits with shareholders. 股利所屬年度 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 EPS (NT$) 0.41 1.52 2.30 2.06 1.78 1.61 1.05 1.00 0.37 2.84 4.50 股利發放年度 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 現金股利 0.45 1.21 1.6
Slide 18: Thank you for listening
Thank you for listening Each Step We Care