Pc Partner Group Limited · SGX:PCT
Pc Partner — FY2022 Earnings Presentation
12 slides from Pc Partner's earnings presentation, Dec 1, 2022
Slide 1: FY2022 Final Results Presentation
FY2022 Final Results Presentation Presented by: Gary Lau (CFO)
Slide 2: Disclaimer
Disclaimer These materials and the subsequent discussion are not an offer for sale of any securities of PC Partner Group Limited (the “Company”). The distribution of these materials in certain jurisdictions may be restricted by law and therefore persons into whose possession these come should inform
Slide 3: FY2022 Financial Summary
FY2022 Financial Summary HK$'000 2022 2021 2020 2019 2018 2017 Revenue 10,775,308 15,459,055 7,761,758 7,556,477 9,122,319 8,555,368 Gross Profit 1,562,962 4,287,162 795,355 516,314 957,445 915,971 Gross Profit Margin 14.5% 27.7% 10.2% 6.8% 10.5% 10.7% Profit Attributable to Owners of the Company 70
Slide 4: FY2022 Sales Performance
FY2022 Sales Performance HKD’m Sales Performance by Half Year • Sales dropped slightly in 1H2022 as compared to 1H2021 but sales was down by 52% in 2H2022 as compared to 2H2021 • Sales in 2H was lower than 1H by 37%, Brand business was down by 42% & OEM dropped by 27% • Q3 2022 was the slowest quart
Slide 5: Gross & Net Profit Margin
Gross & Net Profit Margin % • Both selling price and volume dropped in 2H resulted in GPM fell from 20.7% in 1H2022 to only 4.7% in 2H2022 • Spent less on SG&A due to normalization of logistic & lower people cost as well as no material impairment loss in 2022 • Net profit margin was 12.1% in 1H2022
Slide 6: Average Selling Price (ASP) of Brand/OEM VGA Cards
Average Selling Price (ASP) of Brand/OEM VGA Cards USD • Brand ASP fell by 17.3% from US$457 in 1H2022 to US$378 in 2H2022 • ASP fell more than originally expected due to taken longer time to clear EOL items • Market was very slow in 2H so that company offered more price cut to clear EOL items under
Slide 7: Sales Quantity of VGA Cards
Sales Quantity of VGA Cards M’Pcs • 2H2022 sales quantity was the lowest in the past few years • Taken a conservative approach to reduce GPU intake in Q3 & Q4 on Ampere series • RTX 40 series availability was not a lot, approx. 0.1mpcs or 12.5% in 2H2022 under brand VGA business • OEM orders dropped
Slide 8: Working Capital Indicators
Working Capital Indicators Days • Inventories reduced from HK$2.2B by end of 1H2022 to HK$1.8B by end of 2022 8
Slide 9: Net Cash/(Debt) to Equity Ratio
Net Cash/(Debt) to Equity Ratio % • Cash decreased by HK$1.5B with borrowings increased by HK$1.0B from FY2021 to FY2022. 9
Slide 10: FY2023 Business Outlook
FY2023 Business Outlook • Market is still slow in Q1 which is affected by the same economical and political factors carried over from 2022 • Gamers are still waiting! For new RTX 40 series cards launch or RTX 30 series cards with further discount • Brand VGA business: • Expect ASP drop slightly but
Slide 11: New Business
New Business • Not exactly having a direct association with ChatGPT! • Some gaming GPUs and GPUs under Nvidia’s professional visualization segment comes with tensor cores on top of cuda cores, and tensor core is for AI deep learning! • Working with customers to develop unique solutions, below are so
Slide 12: Q&A Thank You
YOUR TECHNOLOGY PARTNER oe PCPartner