YFY Inc.
3Q24 Earnings Conference
2024/11/14
1907.TW
Disclaimer
This presentation is prepared according to the reviewed financial statements by CPA and the financial numbers hereby were based on IFRS, please refer to the published financial statements for full content.
The presentation may contain forward-looking information and may differ materially from the actual results. YFY does not warrant as to the accuracy or completeness of such information and nor assume any undertaking further information becomes available or in light of changing circumstances. You shall not place undue reliance on any forward- looking information.
The presentation and its contents may not be reproduced to a third party without the prior written consent of YFY.
2
Financial Results
(NTD $M)
Revenue
Gross Profit
Operating Profit
None-Operating
Income/Expenses
Profit Attributable to Parent Company
EPS (NTD)
3Q24 | Y/Y | 3Q24 YTD | Y/Y |
20,075 | 8.6% | 57,725 | 6.6% |
2,736 | 10.4% | 7,974 | 15.9% |
(13) | 86.2% | 89 | - |
1,149 | -23.5% | 1,973 | -14.0% |
781 | -31.1% | 1,073 | -19.1% |
0.47 | -30.9% | 0.65 | -18.8% |
3
Non-Operating Income/Expenses
(NTD $M) | 3Q24 | Y/Y | 3Q24 YTD | Y/Y |
Profit from Equity Method | 326 | -16.0% | 859 | -19.0% |
Financial Costs | (292) | 7.0% | (812) | 0.9% |
Interest Income | 121 | 5.2% | 339 | 9.4% |
FX Gains/Losses | (164) | - | 155 | -55.5% |
Dividend Income | 1,016 | 29.3% | 1,052 | 24.9% |
Other Income | 141 | -37.1% | 380 | -31.2% |
Total | 1,148 | -23.6% | 1,973 | -14.0% |
4
Revenue by Operating Segment
(NTD $M)
Others
3,742
19%Forest, Pulp &
Others 10,304 18%
Forest, Pulp &
Paper
4,535
22%
Consumer
Consumer
Paper 14,049 24%
Products
2,819
14%Container Board &
Packing
8,979
45%
Products 8,113 14%
Container Board &
Packing
25,259
44%
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) | 3Q24 | 3Q24 YTD | Y/Y |
Operation | |||
Forest, Pulp & Paper | (33) | (277) | 69.4% |
Containerboard & Packaging | (288) | (730) | - |
Consumer Products | 173 | 709 | -5.5% |
Others | 135 | 386 | - |
Operating Profit | (13) | 88 | - |
Non-operation | |||
Investments from Equity method | 326 | 859 | -19.0% |
Dividend Income | 1,016 | 1,051 | 24.8% |
Subtotal of Investments from Equity | 1,342 | 1,910 | 0.4% |
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
3Q24 | 3Q24YTD |
3,000
2,500
2,062
2,000
1,500
1,136
1,000
500
Containerboard & Packaging- BG
(500)
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, 3Q24YTD net worth per share reached NT$40.29. 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
40.29
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 | 3Q24 | |
Net Worth Per Share
8
Conclusion - 3Q24YTD Operating Performance
- Revenue reached NT$57.73 billion and 6.6% increased from 3Q23YTD. Growth contributed from Vietnam corrugated container, consumer goods demand, specialty & applied materials, and RFID labels.
- Consolidated operating profit was NT$89 million, benefiting from the growth of other business groups. The consolidated operating profit improved from the same period last year."
- Non-operatingincome was approximately NT$1.97 billion, mainly from E Ink Holdings under equity method and dividend income from SinoPac Holdings.
- Consolidated net profit attributable to the parent company was NT$1.07 billion. EPS of NT$0.65.
- Net worth reached NT$40.29 with diversified business profit sources for optimized and positive contribution.
9
Business groups are transitioning towards renewable energy development.
Forest, Pulp and Paper BG:
Consumer Products BG
Refining lignin to increase renewable energy concentration.
Containerboard & Packaging BG:
Transition to renewable energy by increasing biomass energy source.
Consumer Products BG:
Reduce carbon emissions by replacing energy source and equipment.
Renewable energy