YFY Inc.
2024 Earnings Conference
2025/03/17
1907.TW
Financial Results
(NTD $M) | 2024 | 2023 | Y/Y |
Revenue | 78,413 | 73,867 | 6.2% |
Gross Profit | 10,428 | 10,083 | 3.4% |
Operating Profit | (153) | 137 | - |
None-Operating | 2,889 | 2,425 | 19.1% |
Income/Expenses | |||
Profit Attributable to Parent | 1,631 | 1,827 | -10.7% |
Company | |||
EPS (NTD) | 0.98 | 1.10 | -10.9% |
3
Non-Operating Income/Expenses
(NTD $M) | 2024 | 2023 | Y/Y |
Profit from Equity Method | 1,430 | 1,256 | 13.8% |
Financial Costs | (1,116) | (1,062) | 5.0% |
Interest Income | 472 | 416 | 13.5% |
FX Gains/Losses | 471 | 227 | 107.3% |
Dividend Income | 1,072 | 857 | 25.1% |
Other Income | 560 | 731 | -23.3% |
Total | 2,889 | 2,425 | 19.1% |
4
Revenue by Operating Segment
(NTD $M)
Others 14,499 18%
Consumer
Products
10,841
Forest, Pulp &
Paper 18,637 24%
Others
10,956
15%
Forest, Pulp &
Paper
18,825
Consumer25% Products
10,214
14%
14%Container Board &
Packing
34,436
44%
Container Board &
Packing
33,872
46%
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) | 2024 | 2023 |
Operation | ||
Forest, Pulp & Paper | (551) | (859) |
Containerboard & Packaging | (1,069) | 100 |
Consumer Products | 922 | 1,130 |
Others | 545 | (234) |
Operating Profit | (153) | 137 |
Non-operation | ||
Investments from Equity | 1,430 | 1,256 |
method | ||
Dividend Income | 1,072 | 857 |
Subtotal of Investments from | ||
Equity Method and Dividend | 2,502 | 2,113 |
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 Profit Sources
The profitability of diversified business development is a positive and
sustainable trend, and those business are driving for profit optimization.
NTD M
2024 | 2023 | ||
4,000 | |||
3,500 | |||
2,735 | |||
3,000 | 2,562 | ||
2,500 | |||
2,000
1,500
1,000
500
-
(500)
(1,000)
Containerboard & Packaging BG
Financial & other gains/losses Paper Business
Core Extended Business | Net Income before tax | |
7
Cash Dividends
NT$0.80 cash dividend (close to 82% payout ratio) approved by Board. Cash dividend distribution for the 8th consecutive years.
(Unit：NTD$)
3.50 | |||||||||||||
3.14 | 3.13 | 81.8% | 81.6% | ||||||||||
3.00 | |||||||||||||
69.0% | 68.7% | ||||||||||||
2.50 | |||||||||||||
61.9% | |||||||||||||
2.00 | |||||||||||||
50.7% | 47.8% | 47.9% | |||||||||||
1.50 | 1.38 | 1.50 | 1.50 | 1.31 | |||||||||
1.10 | |||||||||||||
1.00 | 0.97 | 0.87 | 0.98 | ||||||||||
0.90 | 0.90 | 0.80 | |||||||||||
0.70 | |||||||||||||
0.50 | |||||||||||||
0.60 | 0.60 | ||||||||||||
2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | ||||||
Earning per share | Cash dividend | Payout ratio | |||||||||||
90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
8
YFY Inc. Stable Growth from Diversified Business Strategy
Growth for the 8th consecutive years, 4Q24YTD net worth per share reached NT$39.75. 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
39.75
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 | 2024 | |
Net Worth Per Share
9
Business Groups are Transitioning Towards Renewable Energy Development
Consumer Products BG
Forest, Pulp and Paper 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
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