Hwa Fong Rubber Ind. Co., Ltd. · TWSE:2109
Hwa Fong Rubber Ind — Q3 2023 Earnings Presentation
16 slides from Hwa Fong Rubber Ind's earnings presentation, Nov 30, 2023
Slide 1: Hwa Fong Rubber Ind. Co., Ltd.
HWS LAMA BRA HER HWA FONG RUBBER Ind. Co. ltd.
Slide 2: Institutional Investors Conference 3Q23 Financial Results and Outlook
HWA FONG RUBBER Ind. Co.,Ltd. INSTITUTIONAL INVESTORS CONFERENCE 3Q23’FINANCIAL RESULTS AND OUTLOOK NOV. 30th, 2023
Slide 3: Disclaimer
DISCLAIMER The information from this presentation was obtained by the company from various reliable sources. The information published is subjected to change caused by future uncertainties. Please refer to the information published on MOPS if the above circumstances take place.
Slide 4: Company Profile
COMPANY PROFILE • Foundation: December, 1945 • TWSE Listing Date: May 8th, 2000 • Headquarter: Chunghwa County, Taiwan • Capital: NTD 2.79 Billion • Chairman: Kuo-Jung Shen • Total Number of Employees: 2,347 (Group)
Slide 5: Brand Value
BRAND VALUE DURO is derived from the English word “Durability”, which reflects Hwa Fong Rubber Group’s highest corporate principle: ”Quality first”. The four letters– D、U、R、O – represent the four pillars upholding this principle of highest quality： Dependable, Utility, Rapid , Outstanding. Dependabl
Slide 6: Condensed Statement of Comprehensive Income (Consolidated)
CONDENSED STATEMENT OF COMPREHENSIVE INCOME (CONSOLIDATED) Unit：NTD 0.1 Billion 2023Q3 2022Q3 Diff Diff. % Sales Revenue 34.93 41.5 -6.57 -18.81% Cost of Good Sold 28.34 33.06 -4.72 -16.65% Gross Profit 6.59 8.43 -1.84 -27.92% Gross Profit Ratio 18.87% 20.31% -0.014 -7.67% Operating Expenses 4.22 3.
Slide 7: Condensed Balance Sheet (Consolidated)
CONDENSED BALANCE SHEET (CONSOLIDATED) Unit：NTD 0.1 Billion 2023Q3 2022Q3 Diff Diff. % Cash and Cash Equivalents 24.02 14.85 9.17 38.18% Net Receivable 6.31 8.73 -2.42 -38.35% Inventories 9.87 12.92 -3.05 -30.90% Net PP&E 27.27 33.12 -5.85 -21.45% Other 11.93 13.03 -1.1 -9.22% Total Assets 79.4 82.6
Slide 8: Condensed Statement of Cash Flow (Consolidated)
CONDENSED STATEMENT OF CASH FLOW (CONSOLIDATED) Unit：NTD 0.1 Billion 2023Q3 2022Q3 Diff Cash and cash equivalents, 17.03 13.71 3.32 Beginning of period Net cash(used in) from Operating 4.81 4.15 0.66 activities Capital expenditures -0.78 -0.81 0.03 Short-term debt -2.65 -0.42 -2.23 Long-term debt -3
Slide 9: Sales Share by Product Category
SALES SHARE BY PRODUCT CATEGORY Radial, Truck & Bus, 2% 2% Others, 1% Radial, Others, 1% 2% Truck &Bus, 1% Bicycle, 16% Industrial, Bicycle, 21% Industrial, 31% 24% Motorcycle, 44% Bicycle Motorcycle, Motorcycle 55% Industrial Truck & Bus 2022-3Q Radial 2023-3Q Others
Slide 10: Sales Ratio of Domestic and Export
SALES RATIO OF DOMESTIC AND EXPORT 2023-3Q 2022-3Q 100% 10% 90% 100% 80% 90% 80% 32% 70% 69% 69% 70% 63% 60% 60% 78% 50% 50% 90% 40% 40% 30% 68% 30% 20% 37% 10% 22% 20% 0% 31% 31% 10% HFR HFT HFC 0% Domestic Export HFR HFT HFC Domestic Export
Slide 11: Sales Share by Region
SALES SHARE BY REGION New Zealand and Middle East, 3% Australia, 1% Middle East, 1% North America, New Zealand and 10% Central and Central North Australia, 1% South and South America, America, 13% America, 11% 7% Europe, 12% Europe, 8% Asian, 63% Asian, 68% Africa, 1% Africa, 1% 2023-3Q 2022-3Q
Slide 12: Earnings Per Share History in Last Decade
EARNINGS PER SHARE HISTORY IN LAST DECADE 2 1.5 1.33 1.3 1.05 1.08 1 0.64 0.5 0.32 0.24 0.13 0.03 0 -0.5 -0.76 -1 -1.5 -2 -2.5 -3 -2.94 -3.5 2015 2016 2017 2018 2019 2020 2021 2022 2023 2023 2023 2023 Q1 Q2 Q3 EPS
Slide 13: Operating Results
OPERATING RESULTS Unit：NTD 0.1 Billion 2022-Q3 Operating Non-Operating 2023-Q3 MFG Costs Operating Exp. Operating Income Rev. Income & Exp. Operating Income 6.06 -6.55 4.72 -0.35 2.07 5.95 6 4.72 4 2.07 2 0 Income & Exp. -0.35 Operatin Rev. MFG Costs Operating Exp. Non-Operating -2 -4 -6 -6.55 -8
Slide 14: Future Outlook
FUTURE OUTLOOK ➢ Continuously Expand The Market Strengthen and deepen relationships with OE customers/partners, and consistently collaborate to develop new models of original equipment tires. In addition to cultivating existing aftermarket customer channels, leverage the advantages of different prod
Slide 15: Future Outlook
FUTURE OUTLOOK ➢ Global Expansion & Deployment Establishing roots in Taiwan, positioning it as a primary marketing and research & development center, complemented by production facilities in both Taiwan and Thailand. Implementing lean production for DURO and OEM brand products, while seeking additio
Slide 16: Q&A
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