Ww Holding, Inc. · TWSE:8442
Ww — Q3 2022 Earnings Presentation
18 slides from Ww's earnings presentation, Dec 6, 2022
Slide 1: WW Holding Inc. 3Q22 Earnings Conference
WW Holding Inc. (8442 TT) 3Q22 Earnings Conference Dec 6 2022 公司簡報
Slide 2: Disclaimer
Disclaimer • The information contained in this confidential document ("Presentation") has been prepared by WW Holding (the "Company"). It has not been fully verified and is subject to material updating, revision and further amendment. • While the information contained herein has been prepared in goo
Slide 3: Who we are and why invest in us?
Who we are and why invest in us? 20Y 6.4billion 1Q~3Q22 10,000 160 Production Global headcount Multinational experience YOY66.56% Production Line 7 80 8442 Multinational Global well-known Listed on Taiwan Stock Production Base brand customers Exchange 3
Slide 4: Company Milestones
Company Milestones Foundation & Structuring Corporate Expansion Rationalization of Production Consolidate Leadership Position 1998-2006 2006-2017 2015 - 2020 2021 - Beyond 1998 - Formerly Honour Rich 2006 – Kipling, Tumi, Decathlon 2016 - Established Wilson Limited in Dongguan, Wilson Leather
Slide 5: Our Company Structure
Our Company Structure WW Holding Inc. VIRTUE KING Wellpower WILSON GROUP GLOBAL WORTH INTERNATIONAL Commerce Holding HOLDINGS INVESTMENT LIMITED. Co., Ltd. LIMITED (SAMOA) HOLDING LTD. WILSON GROUP WILSON Wellpower GLOBAL VIBRANT HOLDINGS HOLDINGS (HK) Trading Co., Ltd. TRADING LIMITED LIMITED LIMIT
Slide 6: Revenue ratio of our primary customers: 2021 vs. 9M22
Revenue ratio of our primary customers : 2021 vs. 9M22 30% NIKE overall about 26% 25% 20% 15% 10% 5% 0% TUMI NIKE ENI-JR286 Amazon DECATHLON AWAY KIPLING DAKINE IMPEX HUGO BOSS 9M22 2021 12
Slide 7: Consolidated sales breakdown 9M2022
Consolidated sales breakdown 9M2022 13% Sports bags and golf bags 15% YOY:13% Luggage & suitcases YOY: 138% 7% Sports accessories YOY:62% 9M22 27% $ 6,401,912 Non-leather boutique YOY: 80% 8% (YOY: 66.56%) Sports gloves YOY: 27% 15% 15% Sports protectives Leather boutique bags YOY:47% YOY: 132% NT$
Slide 8: 3Q22 sales breakdown
13% Sports bags and golf bags 19% YOY:131% Luggage & suitcases YOY: 416% 1% Sports accessories YOY: -77% 3Q22 18% $ 2,316,636 Non-leather boutique bags (YOY: 83.3%) YOY: -2% 9% Sports gloves YOY: 24% 19% 20% Sports protectives Leather boutique bags YOY:101% YOY:285% NT$ thousand 14
Slide 9: Our Competitive Strengths
Our Competitive Strengths Strong R&D Capability Regional layout of Our Core production bases Strengths Diversified Customer Base with Providing customers with Prime Vendor Position one-stop shopping service 15
Slide 10: Complex process and high entry barriers
Complex process and high entry barriers Why we are chosen – TUMI as an example TUMI vs. Other Brands Production Steps 150 or more vs. 40-60 Number of Parts 120 or more vs. 50 Accuracy Tolerance 1 millimeter vs. 5 millimeters Length of training for 18-24 months vs. 3 months skilled labor Handles & Gr
Slide 11: Regional layout of production bases
Regional layout of production bases We have multiple production bases in China and Southeast Asia, enabling us to support Jiangsu Hongsheng different customers faster Jiangxi than our peers in order Wellpower for them to meet their Dongguan domestic market needs, Hongsheng/Dongg uan Wellpower and
Slide 12: Possess a major supplier status and provide diverse products
Possess a major supplier status and provide diverse products Estimated Customer Product Diversified customer base and major supplier status market share Business bag 40% In addition to strong research and development capabilities, TUMI Suitcase 50% we can provide comprehensive standardized and Lad
Slide 13: Highlights of Financial Statements 3Q22
Highlights of Financial Statements3Q22 6.4 billion EPS 8.09 The latest high in revenue The latest high in EPS since listing since listing YOY 66.56% 22% 9% 9% Gross Profit Margin Operating Profit Profit rate record high record high Margin record high YOY + 9 PPT YOY + 10 PPT YOY + 10 PPT 23
Slide 14: Consolidated Monthly Revenue
Consolidated Monthly Revenue 2022 2021 2020 2019 JAN 628,299 436,365 465,309 605,470 900,000 Feb 502,452 331,062 280,843 368,173 827,982 826,501 813,844 772,258 775,033 Mar 582,559 400,487 389,326 466,198 800,000 727,512 742,442 Apr 727,512 442,003 348,470 512,553 700,000 628,299 May 827,982 478,925
Slide 15: Quarterly Gross Profit Trend
Quarterly Gross Profit Trend 25.00 21.77 21.31 20.00 19.96 19.06 18.57 17.94 18.07 17.70 17.30 16.59 16.53 16.60 15.00 14.98 13.61 13.64 12.42 10.00 9.97 9.03 7.14 5.00 0.00 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 25
Slide 16: Balance Sheet
Balance Sheet YoY (%) NT$m 2019 2020 2021 2021.9.30 2022.9.30 2020 2021 3Q22 Total Assets 4,522 3,632 5,026 4,629 6,719 (19.7) 38.4 45.2 Cash 481 572 518 686 847 19.0 (9.5) 23.6 AR & NR 1,236 700 1,493 1,129 2,211 (43.3) 113.1 95.8 Inventories 841 699 1,048 921 1,240 (16.9) 50.0 34.7 Fixed Assets 88
Slide 17: Income Statement
Income Statement YoY (%) NT$m 2019 2020 2021 3Q21 1Q22 2Q22 3Q22 2020 2021 3Q22 9M22 Revenue 6,458 3,742 5,400 1,262 1,716 2,372 2,314 (42.1) 44.3 83.3 66.6 COGS 5,329 3,189 4,627 1,105 1,431 1,867 1,810 (40.1) 45.1 63.7 52.6 Gross Profit 1,129 552 773 157 286 505 504 (51.1) 39.9 221.4 160.7 Operati
Slide 18: Dividend Payout and Capex
Dividend Payout and Capex (NT$m) 2018 2019 2020 2021 Net profit 91 212 (153) 75 Dividend Paid 75 18 - 60 DPS (NT$) 1.5 0.3 - 1 Payout ratio(%) 82.0% 7.1% - 80% Dividend yield 2.8% 0.7% - 1.7% Capex 143 86 50 85 Capex/Sales 2.3% 1.3% 1.3% 1.57% Notes: 1. WW Holding became listed on TAIEX on Nov 8, 20