Catcher Technology
2023 Q1 Earnings Results
2023/05
CATCHER confidential
Disclaimer
- This presentation contains "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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1Q23 Financial Summary
- Revenue reached NT$ 3.542bn; -46.7%q-q due to weak demand and inventory adjustment which slowed down shipment, -51.0%y-y due to stagnant global economy.
- Gross margin was 22.9%; -11.2ppq-q and -6.7ppy-y due to a smaller revenue scale despite product mix adjustment and lower depreciation expense.
- OP margin was -0.4%;-20.8ppq-q and -15.5ppy-y on GM contraction.
- Strengthening NTD led to net FX losses of NT$ 849mn.
- NPBT reached NT$ 1.167bn; +301.3% q-q due to a low base, -61.7%y-y due to revenue decline and FX losses.
- NPAT reached NT$ 884mn; +208.7% q-q and -57.0%y-y.
- Basic EPS was NT$ 1.25 in 1Q23 vs. NT$ 0.40 in 4Q22/NT$ 2.81 in 1Q22.
- CAPEX was NT$ 73mn in 1Q23 vs. NT$ 88mn in 4Q22/NT$ 147mn in 1Q22.
- D&A was NT$ 746mn in 1Q23 vs. NT$ 774mn in 4Q22/NT$ 931mn in 1Q22.
- EBITDA was NT$ 730mn in 1Q23 vs. NT$ 2.131bn in 4Q22/NT$ 2.025bn in 1Q22.
* EBITDA = Operating Profit + Depreciation + Amortization
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1Q23 vs. 4Q22 Profit & Loss
(In NTD mn)
Revenue
Gross Profit
Opt. Expense
Opt. Profit
Non-Opt. Income
Net Profit Before Tax
Net Profit After Tax
(attr. to parent company) Basic EPS (NTD)
EBITDA
1Q23 | 4Q22 | ||||||||
Amount | % | Amount | % | qoq | |||||
3,542 | 100.0% | 6,646 | 100.0% | -46.7% | |||||
812 | 22.9% | 2,267 | 34.1% | -64.2% | |||||
828 | 23.4% | 910 | 13.7% | -9.0% | |||||
(16) | -0.4% | 1,357 | 20.4% | -101.2% | |||||
1,183 | 33.4% | (1,066) | -16.0% | N.M. | |||||
1,167 | 33.0% | 291 | 4.4% | 301.3% | |||||
884 | 25.0% | 286 | 4.3% | 208.7% | |||||
$ | 1.25 | $ | 0.40 | $ | 0.85 | ||||
730 | 20.6% | 2,131 | 32.1% | -65.7% |
- FX losses reached NT$ 849mn in 1Q23
CATCHER confidential | 4 |
1Q23 vs. 1Q22 Profit & Loss
(In NTD mn)
Revenue
Gross Profit
Opt. Expense
Opt. Profit
Non-Opt. Income
Net Profit Before Tax
Net Profit After Tax
(attr. to parent company) Basic EPS (NTD)
EBITDA
1Q23 | 1Q22 | ||||||||
Amount | % | Amount | % | yoy | |||||
3,542 | 100.0% | 7,221 | 100.0% | -51.0% | |||||
812 | 22.9% | 2,139 | 29.6% | -62.0% | |||||
828 | 23.4% | 1,046 | 14.5% | -20.9% | |||||
(16) | -0.4% | 1,093 | 15.1% | -101.4% | |||||
1,183 | 33.4% | 1,951 | 27.0% | -39.4% | |||||
1,167 | 33.0% | 3,045 | 42.2% | -61.7% | |||||
884 | 25.0% | 2,057 | 28.5% | -57.0% | |||||
$ | 1.25 | $ | 2.81 | -$ | 1.56 | ||||
730 | 20.6% | 2,025 | 28.0% | -63.9% |
- FX losses reached NT$ 849mn in 1Q23
CATCHER confidential | 5 |