Catcher Technology
2022 Q4 Earnings Results
2023/02
CATCHER confidential
Disclaimer
- This presentation contain "forward-looking statements"- that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects" , "anticipates", "intends", "plans", "believes", "seeks", or "will".
- Forward-lookingstatements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to different materially from those contained in any forward-looking statement. Such factors include, but are not limited to: our highly competitive
environment; the cyclical nature of our business; our ability to develop new products; and our successful execution in new business developments.
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4Q22 Financial Summary
- Total revenue reached NT$ 6.646bn; -23.4%q-q due to weak demand, off-peak season, and ODMs' stricter inventory control which slowed down shipment, -18.9%y-y due to global economic slowdown.
- Gross profit was NT$ 2.267bn, -23.5%q-q/-16.4%y-y. Gross margin was 34.1%, flat q-q/+1.0ppy-y; the y-y increase was attributable to product mix adjustment and better cost control.
- OP margin was 20.4%, -1.6ppq-q/+1.4ppy-y.
- FX losses reached NT$ 2.786bn in 4Q22 as a result of strengthening NTD.
- Dragged by revenue declines and FX losses, NPBT reached NT$ 291mn, -96.7%q-q/-93.4%y-y. NPAT reached NT$ 286mn, -94.3%q-q/-91.5%y-y.
- Basic EPS was NT$ 0.40 in 4Q22 vs. NT$ 7.06 in 3Q22/NT$ 4.48 in 4Q21.
- CAPEX was NT$ 88mn in 4Q22 vs. NT$ 133mn in 3Q22/NT$ 43mn in 4Q21.
- D&A was NT$ 774mn in 4Q22 vs. NT$ 838mn in 3Q22/NT$ 1.024bn in 4Q21.
- EBITDA was NT$ 2.131bn in 4Q22 vs. NT$ 2.75bn in 3Q22/NT$ 2.578bn in 4Q21.
(EBITDA = Operating Profit + Depreciation + Amortization)
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2022 Financial Summary
- Total revenue reached NT$ 27.821bn, -32.3%y-y due to geopolitical turmoil, supply chain disruptions, global economic slowdown and weak demand.
- Gross profit was NT$ 8.867bn, -34.7%y-y. Gross margin was 31.9%, -1.1ppy-y, due to a smaller revenue scale despite product mix adjustment and lower depreciation expenses.
- Operating profit was NT$ 4.969bn, -43.3%y-y. OP margin was 17.9%, -3.4ppy-y due to lower gross margin.
- NPBT was NT$ 16.543bn, +37.1% y-y; NPBT margin was 59.5%, +30.1pp y-y.
- NPAT was NT$ 10.902bn, +27.1% y-y; NPAT margin was 39.2%, +18.3pp y-y.
- Basic EPS was NT$ 15.14 in 2022 vs. NT$ 11.31 in 2021.
- CAPEX was NT$ 469mn in 2022 vs. NT$ 982mn in 2021.
- D&A was NT$ 3.45bn in 2022 vs. NT$ 4.919bn in 2021.
- EBITDA was NT$ 8.419bn in 2022 vs. NT$ 13.679bn in 2021.
(EBITDA = Operating Profit + Depreciation + Amortization)
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4Q22 vs. 3Q22 Profit & Loss
4Q22 | 3Q22 | |||||||||
(In NTD mn) | Amount | % | Amount | % | qoq | |||||
Revenue | 6,646 | 100.0% | 8,675 | 100.0% | -23.4% | |||||
Gross Profit | 2,267 | 34.1% | 2,962 | 34.1% | -23.5% | |||||
Opt. Expense | 910 | 13.7% | 1,050 | 12.1% | -13.4% | |||||
Opt. Profit | 1,357 | 20.4% | 1,911 | 22.0% | -29.0% | |||||
Non-Opt. Income | (1,066) | -16.0% | 6,812 | 78.5% | -115.7% | |||||
Net Profit Before Tax | 291 | 4.4% | 8,724 | 100.6% | -96.7% | |||||
Net Profit After Tax | ||||||||||
286 | 4.3% | 5,046 | 58.2% | -94.3% | ||||||
(attr. to parent company) | ||||||||||
Basic EPS (NTD) | $ | 0.40 | $ | 7.06 | -$ | 6.66 | ||||
EBITDA | 2,131 | 32.1% | 2,750 | 31.7% | -22.5% |
- FX losses reached NT$ 2,786mn in 4Q22
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