YFY Inc.
2Q24 Earnings Conference
2024/08/14
1907.TW
1H24 Financial Results
(NTD $M)
Revenue
Gross Profit
Operating Profit
None-Operating
Income/Expenses
Profit Attributable to Parent Company
EPS (NTD)
1H24 | % | 1H23 | % | Y/Y |
37,650 | 35,655 | 5.6% | ||
5,238 | 13.9% | 4,404 | 12.4% | 18.9% |
101 | 0.3% | (368) | -1.0% | 127.5% |
824 | 2.2% | 792 | 2.2% | 4.0% |
292 | 0.8% | 193 | 0.5% | 51.2% |
0.18 | 0.12 | 50.0% | ||
3
Non-Operating Income/Expenses
(NTD $M) | 1H24 | 1H23 | Y/Y |
Profit from Equity Method | 533 | 672 | -20.7% |
Financial Costs | (520) | (546) | 4.8% |
Interest Income | 218 | 195 | 11.8% |
FX Gains/Losses | 319 | 87 | 266.7% |
Dividend Income | 35 | 57 | -37.8% |
Other Income | 239 | 327 | -26.9% |
Total | 825 | 792 | 4.1% |
4
Revenue by Operating Segment
(NTD $M)
Others 6,560 18%
Forest, Pulp &
Paper 9,516 25%
Consumer
Products
5,294
14%
Container Board &
Packing
16,280
43%
Forest, Pulp and Fine Paper Business Group:
Including pulp, cultural paper, packaging paper, specialty paper, and cardboard.
Containerboard and Packaging Business Group:
Including industrial cardboard containers, colored cases, and food containers.
Consumer Product Business Group:
Household products including tissue paper, napkins, and cleaning products.
Others Business:
Products other than paper including specialty materials, RFID, packaging designs , and other services.
5
Performance by Operation
(NTD $M) | 1H24 | 1H23 | Y/Y |
Operation | |||
Forest, Pulp & Paper | (244) | (548) | 55.4% |
Containerboard & Packaging | (442) | (134) | -230.0% |
Consumer Products | 536 | 396 | 35.4% |
Others | 251 | (82) | 406.4% |
Operating Profit | 101 | (368) | 127.4% |
Non-operation | |||
Investments from Equity method | 533 | 672 | -20.7% |
Dividend Income | 35 | 57 | -37.3% |
Subtotal of Investments from Equity | 569 | 729 | -22.0% |
Method and Dividend Income | |||
Note:
The performance of each segment was measured by operating profits of each business. | |
Revenue and profit among segments have been adjusted with intra-segment elimination to reconcile with | |
consolidated financial statements. | 6 |
Diversified Business & Product Portfolio
The profits from Core Extended business formed a positive and
sustainable trend, and those business are driving for profit optimization.
NTD M
1,100
900
700
500
300
100
(100)
Containerboard & Packaging BG
(300)
1H24 | 1H23 |
925
423
Financial & other gains/losses | Paper Business | |
Core Extended Business | Net income before tax | |
7
YFY Inc. Stable Growth from Diversified Business Strategy
Growth for the 8th consecutive years, 1H24 net worth per share reached NT$40.06. CAGR over 9%. YFY continuous expansion of diversified business as a long-term strategy to enhance the profitability stability of the product portfolio and strengthen the resilience required to face macroeconomic uncertainty.
NTD $
45
40.06
40 | |||||||||
35.22 | |||||||||
35 | 30.84 | 32.91 | |||||||
30 | |||||||||
27.09 | |||||||||
25 | 23.64 | ||||||||
20.01 | 21.36 | ||||||||
19.38 | |||||||||
20 | |||||||||
15 | |||||||||
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2Q24 | |
Net Worth Per Share
8
Source: YFY Sustainability Report 2023
Important Performance Description of the 2023 Sustainability Report
Environment
Social
Governance
- GHG emissions of 3 business groups in Taiwan decreased 9.3% compared to 2018 and 9.8% down on scope 1
- The 3 business groups collectively saved 62,000,000 kWh electricity, which was equivalent to reducing nearly 50,000 metric tons of CO2e
- Total water consumption in three business groups decreased by 27.7% from 2022
- Water recycling rate of paper plants in Taiwan is more than 90% at its peak
- Over NT$12 million invested in social welfare initiatives and a total of nearly NT$50 million in the past three years
- Mean gender pay gap is less than 1% among Taiwanese employees
- Female employees at 24%. Female leadership at 20%.
- The "YFY Taitung Academy" has 580+ volunteer tutors, contributed over NT$4.15 million in sponsorship, and shared 4,500 hours of reading time.
- Ranked 6%-20% in the 2023 Corporate Governance Evaluation for Taiwan listed companies
- Over 50% of the members in the Sustainable Development Committee are independent directors
- Green procurement expenditure reached NT$9 billion
- 100% of the foreign pulp procured in Taiwan has been verified by FSC/PEFC
- Over 91% of raw materials used by the three business groups are from recycled materials.
*The three business groups are Forest, Pulp and Paper BG, Containerboard & Packaging BG, and Consumer Products BG. | |
* Values are subject to the sustainability report | 9 |
Source: YFY Sustainability Report 2023
Environment - 2023 Percentage of Energy Input
Leading results of the sum percentage of Biomass Energy and Alternative Energy.
100
90
80
70
60
50
40
30
20
10
0
Containerboard & | |||
Forest, Pulp and Paper | Packaging | Consumer Products | Others |
3.40 | |||||
16.70 | |||||
42.70 | 38.50 | ||||
46.1% | 39.6% | 4.10 | 14.6% | 25.40 | 42.1% |
10.50 | |||||
1.10 |
Biomass Energy Alternative Energy Purchased Energy Fossil Fuel
* Values are subject to the sustainability report
10
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