YFY Inc.
1Q24 Earnings Conference
2024/05/14
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.
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YFY Five Strategic Directions
Continuous | ||
Development | ||
Industry 4.1 | of the Circular | |
Economy | ||
and | Renewable | |
Upstream/ | Energy and | |
Downstream | Energy | |
Industrial | Management | |
Ecosystems | ||
The | ||
Saccharide | Investment | |
Economy and | in new | |
Development | innovation | |
of New | business | |
Materials |
3
1Q24 Financial Results
(NTD $M) | 1Q24 | 1Q23 | Y/Y |
Revenue | 17,922 | 17,531 | 2.2% |
Gross Profit | 2,700 | 2,146 | 25.8% |
Operating Profit | 193 | (177) | 209.1% |
None-Operating Income/Expenses | 460 | 256 | 79.8% |
Profit Attributable to Parent Company | 279 | 3 | - |
EPS (NTD) | 0.17 | 0.0 | - |
Net Profit Margin | 1.6% | 0.0% | |
4
Non-Operating Income/Expenses
(NTD $M) | 1Q24 | 1Q23 | Y/Y |
Share of Profit of Associates | 215 | 277 | -22.5% |
Financial Costs | (255) | (298) | 14.4% |
Interest Income | 107 | 115 | -7.2% |
FX Gains/Losses | 264 | 40 | 561.2% |
Dividend Income | - | - | - |
Other Income | 130 | 121 | 7.1% |
Total | 460 | 255 | 80.5% |
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Revenue by Operating Segment
(NTD $M)
Others 2,964 17%
Consumer
Products
2,588
14%
Forest, Pulp &
Paper
4,758
27%
Container Board &
Packing
7,612
42%
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.
6
Performance by Operation
(NTD $M) | 1Q24 | 1Q23 | Y/Y |
Operation | |||
Forest, Pulp & Paper | 15 | (145) | 110.6% |
Containerboard & Packaging | (209) | (144) | -44.8% |
Consumer Products | 315 | 145 | 117.2% |
Others | 72 | (35) | 306.7% |
Operating Profit | 193 | (179) | 207.9% |
Non-operation | |||
Investments from equity method | 215 | 277 | -22.5% |
(E Ink) | |||
Dividend Income | - | - | - |
(SinoPac Holdings) | |||
Subtotal of Investments from Equity | 215 | 277 | -22.5% |
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.
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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
800.00
700.00
600.00
500.00
400.00
300.00
200.00
100.00
-100.00
-200.00
Containerboard & Packaging BG
Net Income Before Tax
653
78
1Q231Q24
800.00
700.00
600.00
500.00
400.00
300.00
200.00
100.00
-100.00-200.00
Financial & other gains/losses | Paper Business | Core Extended Business | 稅前淨利 | |||
8
YFY Inc. Stable Growth from Diversified Business Strategy
Growth for the 7th consecutive years, 1Q24 net worth per share reached NT$36.92. CAGR at 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 $
40 | |||||||||
36.92 | |||||||||
35.22 | |||||||||
35 | |||||||||
32.91 | |||||||||
30.84 | |||||||||
30 | |||||||||
27.09 | |||||||||
25 | 20.01 | 21.36 | 23.64 | ||||||
19.38 | |||||||||
20 | |||||||||
15 | |||||||||
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 1Q24 | |
Net Worth Per Share
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Conclusion
1Q24
- Consolidated quarterly revenue reached NT$17.92 billion, benefiting from increased demand in RFID and Vietnam packaging, with a 2.2% YoY growth.
- Consolidated operating income for the quarter was NT$193 million, with improvement in Taiwan and Vietnam demand, profit turn positive from last year's results.
- Non-operatingincome was approximately NT$460 million, mainly due to investment income from E ink (equity method) and gains from foreign currency hedging, with consolidated net profit after tax attributable to the parent company being NT$279 million and EPS after tax was NT$0.17
- Diverse business and product portfolio to optimize and sustain profitability. Net worth per share reached NT$36.92.
Outlook
- Forest, Pulp and Paper Business Group: Continuously develop low-carbon emission products and gain market shares.
- Container board and Packaging Business Group: Demand driven by consumer essentials. Expansion on renewable energy capacity.
- Consumer Product Business Group: Optimizing the product portfolio, continuing to improve and expand production automation.
- Others Business: Capacity adjustments aligned with demand. Accelerating the development of niche products.
- Equity Method & FVOCI: New technology driven for capacity expansion. Dividend income benefits from improved macroeconomic.
YFY will further enhance the company's operational efficiency and optimize its product portfolio. The company has being devoted to low carbon emission, low energy consumption, and replacing petrochemicals with saccharide. Promoting ESG to ensure sustainable growth for the company. Continuing to create reasonable investment value for shareholders.
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YFY Inc. published this content on 14 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2024 08:25:09 UTC.