1Q25 Results Conference
May 7, 2025
Agenda
1Q25 Financial Results
1Q25 Operating Results
Business Outlook
Commitment to ESG
3
1Q25 Financial Results
4
1Q25 Consolidated Income Statement
1Q25 Revenue Increased 1.9% YoY; 1Q25 EPS NT$2.19
NT$ Million | 1Q 2025 % | 4Q 2024 % | QoQ % | 1Q 2024 % | YoY % |
Net Sales | 23,281 100.0 | 26,237 100.0 | -11.3 | 22,846 100.0 | 1.9 |
COGS | (18,974) (81.5) | (21,117) (80.5) | (18,238) (79.8) | ||
Gross Profit | 4,308 18.5 | 5,120 19.5 | -15.9 | 4,608 20.2 | -6.5 |
Operating Expense | (2,163) (9.3) | (2,625) (10.0) | (2,329) (10.2) | ||
Operating Profit | 2,145 9.2 | 2,495 9.5 | -14.0 | 2,279 10.0 | -5.9 |
Non-Operating Income1 | 136 0.6 | 1,061 4.0 | 469 2.1 | ||
Profit Before Tax | 2,281 9.8 | 3,555 13.6 | -35.9 | 2,748 12.0 | -17.0 |
Tax | (480) (2.1) | (700) (2.7) | (676) (3.0) | ||
Net Income | 1,592 6.8 | 2,416 9.2 | -34.1 | 1,762 7.7 | -9.6 |
After Tax EPS | 2.19 | 3.32 | -34.0 | 2.42 | -9.5 |
Profit Margins | |||||
GPM | 18.5 | 19.5 | -1.0ppt | 20.2% | -1.7ppt |
OPM | 9.2 | 9.5 | -0.3ppt | 10.0% | -0.8ppt |
NPM | 6.8 | 9.2 | -2.4ppt | 7.7% | -0.9ppt |
1Q25 Consolidated Balance Sheet
Healthy Balance Sheet with NT$21.7B Net Cash; Debt Ratio at 54%
NT$ Million | 1Q25 % | 4Q24 | % | 1Q24 | % |
Cash & Equivalent | 27,883 26.8 | 26,185 | 24.9 | 24,692 | 26.0 |
Accounts Receivable | 20,944 20.1 | 24,574 | 23.3 | 20,125 | 21.2 |
Inventories | 17,255 16.6 | 16,562 | 15.7 | 15,269 | 16.1 |
Current Assets | 77,255 74.2 | 78,817 | 74.8 | 69,468 | 73.1 |
Total Assets | 104,180 100.0 | 105,370 | 100.0 | 94,997 | 100.0 |
Short Term Debt | 6,001 5.8 | 6,251 | 5.9 | 4,384 | 4.6 |
Accounts Payable | 22,155 21.3 | 23,828 | 22.6 | 20,394 | 21.5 |
Current Liabilities | 54,924 52.7 | 50,293 | 47.7 | 51,086 | 53.8 |
Long Term Debt | 198 0.2 | 134 | 0.1 | 20 | 0.0 |
Total Liability | 55,814 53.6 | 51,160 | 48.6 | 51,767 | 54.5 |
Equities | 48,366 46.4 | 54,210 | 51.4 | 43,230 | 45.5 |
Book Value Per Share | 56.59 | 63.45 | 50.63 | ||
Net Cash | 21,684 | 19,800 | 20,289 | ||
Current ratio (X) | 1.41 | 1.57 | 1.36 | ||
Debt Ratio | 54% | 49% | 54% | ||
7
Continue Delivering Solid Revenue Growth
Secure resources for global top tier customers, with a balanced and diversified product portfolio
(NT$ mn)
+3%
CAGR
115,748
107,474
8%
101,478
5%
80,663
7%
77,018
87,260
6%
92,552
5%
95,082
5%
6%
98,323
6%
33%
10%
78,156
8%
34%
34%
33%
34%
34%
33%
31%
33%
32%
23%
26%
28%
24%
27%
26%
31%
28%
24%
25%
23,281
37%
37%
34%
6%
35%
31%
33%
34%
33%
33%
33%
34%
26%
34%
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1Q25
*Organic Growth
1Q25 Revenue Breakdown
1Q25 Revenue by Product
Others, 3%
Networking, 3%
KB, 34%
Power Supply,
34%
Image , 26%
YoY%
5%
0%
-5%
KB Image Power Supply
Business Outlook
10
April Revenue was NT$8B, up 3% YoY YTD Revenue was NT$31B, up 2% YoY
NT$M
12,000
10,000
8,000
6,000
4,000
2,000
0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 |
2024 | 7,695 | 6,640 | 8,510 | 7,763 | 8,550 | 8,361 | 8,381 | 9,687 | 9,653 | 9,288 | 8,633 | 8,317 |
2025 | 7,518 | 7,291 | 8,473 | 8,025 |
Navigate through Uncertainties
Accelerate capacity ramp-up speed in Thailand.
Requested by clients for US market
Expect around 25~30% revenue contribution from Thailand in 2025
Capacity in China mainly for non-US markets
Flexible production planning to closely work with clients to face uncertainties
Consistent High Dividend Payout
Earnings Per Share Dividend Per Share Dividend Payout %
81%
75% 76% 75% 73% 70% 71% 70% 73% 75%
10.26 10.35
5.92
6.22
5.66
5.24 5.22
8.45
5.90
7.80
5.50
8.71
6.10
7.50
7.80
4.65 4.30
4.25 4.45
3.80
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
*Yield calculated using close price on the day prior to ex dividend date 13
Commitment to ESG
14
Actively Facilitate ESG Development
Our Sustainability Targets
Science-Based Targets by 2030
Officially approved by SBTi in September 2022
ESG Results & Recognitions
Sustainalytics ESG Risk Rating
Chicony continued to lower down ESG risk. 2024 Sustainalytics ESG Risk Rating improved to 13.1 from14.3
Scope 1+2 emission target: 56.8% reduction
Scope 3 emission target: 44.2% reduction
Join RE100
Our goal is for the entire Chicony Group to use 100% renewable electricity by 2030
Chicony used 44% renewable energy in 2024Net Zero by 2050
Committed to cutting greenhouse gas emissions to zero by 2050
2023 Non-Executive Full-Time Employee Compensation Ranked 21st Among 923 Listed Companies in Taiwan
Ranked top in the Electronic Component Sector if excluding number of employees under 100
CDP Climate Change Questionnaire
Scored A-
Chicony achieved A- score in 2023 Climate Change Questionnaire for the 1st time
Corporate Governance TSEC Review for Listed and OTC Companies
Ranked among top 6~20% in the 2024 review of
corporate governance of listed and OTC companies
Work Towards a Sustainable Future
Greenhouse Gas Emission - Scope 1+2 (ton CO2e) Intensity (ton CO2e/NT$ million)
1.53
Total Water Withdrawal (1,000 Tons) Intensity (Mega Liter/NT$ million)
0.0257
74,703 | 58,888 | 43,483 | 1,633 | 1,586 | 1,289 | 1,336 | |||
2021 | 2022 | 2023 | 2024 | 2021 | 2022 | 2023 | 2024 | ||
97,482
1.09
1.00
0.70
0.0231 0.0218 0.0216
Greenhouse gas emission intensity decreased from 1.53 in 2021 to
0.70 in 2024, down by 54%
Total water withdrawal intensity decreased from 0.0257 in 2021 to 0.0216 in 2024, down by 16%
*Excluding Chicony Power and XAVi
*Excluding Chicony Power and XAVi
Green and Sustainable Design
Introduce the use of PCR (post-consumer recycled) plastics and FSC certified materials: 70% of all products have used PCR plastics some of the products used recycled-metal; More than 95% of packaging material content is FSC certified materials.
Reduce product energy consumption:
Take camera module for example, through DSP/backend IC process revision, the overall power consumption has roughly dropped from 1 W to 0.85 W, a reduction of 15%.
Diversified and equal opportunities Female employee percentage
In 2024, the percentage of Chicony Electronics' worldwide
female employees was 56.63%
In 2024, the percentage of female managerial personnel was 16.23%
(The number of female employees decreased 7.54% in 2024)
Thank You!17
Provide Customer Satisfaction | Ensure Welfare of Employees Create Company Development | Shape Good Human Relations
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