Catcher Technology
2023 Q2 Earnings Results
2023/08
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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2Q23 Financial Summary
- Revenue reached NT$ 6.892bn, +94.6% q-q thanks to continued de-stocking and new product launch, +30.6% y-y due to de-stocking and a low base.
- Gross margin was 32.9%; +10.0pp q-q and +4.5pp y-y driven by revenue expansion, product mix adjustment and lower depreciation expense.
- OP margin was 19.8%; +20.2pp q-q and +8.3pp y-y due to GM expansion and cost control.
- NTD depreciation led to net FX gains of NT$ 2.582bn.
- NPBT reached NT$ 6.979bn; +497.8% q-q and +55.7% y-y due to revenue expansion and FX gains.
- NPAT reached NT$ 4.483bn; +407.3% q-q and +27.6% y-y.
- Basic EPS was NT$ 6.59 in 2Q23 vs. NT$ 1.25 in 1Q23/NT$ 4.88 in 2Q22.
- CAPEX was NT$ 140mn in 2Q23 vs. NT$ 73mn in 1Q23/NT$ 100mn in 2Q22.
- D&A was NT$ 715mn in 2Q23 vs. NT$ 746mn in 1Q23/NT$ 907mn in 2Q22.
- EBITDA was NT$ 2.082bn in 2Q23 vs. NT$ 730mn in 1Q23/NT$ 1.514bn in 2Q22.
* EBITDA = Operating Profit + Depreciation + Amortization
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1H23 Financial Summary
- Total revenue reached NT$ 10.434bn, -16.5%y-y as demand hasn't fully recovered.
- Gross profit was NT$ 3.083bn, -15.3%y-y; gross margin was 29.5%, +0.4pp y-y, thanks to product mix adjustment and lower depreciation expenses.
- Operating profit was NT$ 1.351bn, -20.5%y-y; OP margin was 13.0%, -0.6ppy-y.
- NPBT was NT$ 8.147bn, +8.2% y-y; NPBT margin was 78.1%, +17.9pp y-y.
- NPAT was NT$ 5.367bn, -3.6%y-y; NPAT margin was 51.4%, +6.8pp y-y.
- Basic EPS was NT$ 7.75 in 1H23 vs. NT$ 7.67 in 1H22.
- CAPEX was NT$ 212mn in 1H23 vs. NT$ 247mn in 1H22.
- D&A was NT$ 1,461mn in 1H23 vs. NT$ 1,838mn in 1H22.
- EBITDA was NT$ 2,812mn in 1H23 vs. NT$ 3,539mn in 1H22.
* EBITDA = Operating Profit + Depreciation + Amortization
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2Q23 vs. 1Q23 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
2Q23 | 1Q23 | ||||||||
Amount | % | Amount | % | qoq | |||||
6,892 | 100.0% | 3,542 | 100.0% | 94.6% | |||||
2,271 | 32.9% | 812 | 22.9% | 179.7% | |||||
904 | 13.1% | 828 | 23.4% | 9.2% | |||||
1,367 | 19.8% | (16) | -0.4% | N.M. | |||||
5,612 | 81.4% | 1,183 | 33.4% | 374.3% | |||||
6,979 | 101.3% | 1,167 | 33.0% | 497.8% | |||||
4,483 | 65.1% | 884 | 25.0% | 407.3% | |||||
$ | 6.59 | $ | 1.25 | $ | 5.34 | ||||
2,082 | 30.2% | 730 | 20.6% | 185.1% |
- FX gains reached NT$ 2,582mn in 2Q23
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