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1H 2013
Investor Conference
August 7th, 2013
TWSE Code 5871
Disclaimer
2
TWSE Code 5871
Agenda
Management Highlight
Segment Review
Q&A
Appendix
3
1H13 Performance Review
TWSE Code 5871
Management Highlight
Healthy portfolio growth with managed risk
Stable asset quality with sufficient provisions
Continued strong growth of net profit
4
YTD YOY
Consolidated 12% 28%
Taiwan 15% 27%
China 7% 34%
Thailand 15% 30%
Source: unaudited financial statements
TWSE Code 5871
Agenda
Management Highlight
1H13 Performance Review
Segment Review
Q&A
Appendix
5
TWSE Code 5871
Total Assets Consolidated
Total Portfolio Total Asset
Unit: NT$ million
13%
6
9%
Source: unaudited financial statements
TWSE Code 5871
Revenue & Net Margin Consolidated
8%
7
38%
Source: unaudited financial statements
TWSE Code 5871
Net Profit & EPS Consolidated
8
7%
79%
3.17
1.53 1.64
(Retroactively adjusted)
Source: unaudited financial statements
TWSE Code 5871
Cost To Income Ratio Consolidated
9 Note: Cost to Income Ratio=Opex Exclude provision expenses / Gross Profit Source: unaudited financial statements
TWSE Code 5871
ROA & ROE Consolidated
ROA ROE
10 Source: unaudited financial statements
TWSE Code 5871
Asset Quality Consolidated
Delinquency Ratio Provision Coverage Ratio
11
Notes:
Definitions of delinquencies:
• Check payments: overdue by 7 days or more
• Equipment leasing with non-check payments: overdue by 30 days or more
• Automobile installment sales in Thailand: overdue by 90 days or more
Excludes US securitization asset
Source: unaudited financial statements
TWSE Code 5871
Agenda
Management Highlight
1H13 Performance Review
Segment Review
Q&A
Appendix
12
TWSE Code 5871
Total Loans & Receivables Taiwan
Unit: NT$ million
13
15%
27%
Source: unaudited financial statements
TWSE Code 5871
Revenue & Net Profit Taiwan
Revenue Net Profit
Unit: NT$ million Unit: NT$ million
14 Source: unaudited financial statements
TWSE Code 5871
Asset Quality Taiwan
Delinquency Ratio Provision Coverage Ratio
15 Note: Company internal management report. is used for allowance to estimated loss calculation.
Note: Definitions of delinquencies
• Check payments: overdue by 7 days or more
• Equipment leasing with non-check payments: overdue by 30 days or more
Source: unaudited financial statements
TWSE Code 5871
Total Loans & Receivables China
Unit: NT$ million
16
7%
34%
Source: unaudited financial statements
TWSE Code 5871
Revenue & Net Profit China
Revenue Net Profit
Unit: NT$ million Unit: NT$ million
17 Source: unaudited financial statements
TWSE Code 5871
Asset Quality China
Delinquency Ratio Provision Coverage Ratio
18 Definitions of delinquencies
• Check payments: overdue by 7 days or more
• Equipment leasing with non-check payments: overdue by 30 days or more
Note: Company internal management report. is used for allowance to estimated loss calculation.
Source: unaudited financial statements
(F)
(F)
TWSE Code 5871
Total Loans & Receivables Thailand
19
Unit: NT$ million
15%
30%
Source: unaudited financial statements
TWSE Code 5871
Revenue & Net Profit Thailand
Revenue Net Profit
Unit: NT$ million Unit: NT$ million
20 Source: unaudited financial statements
TWSE Code 5871
Asset Quality Thailand
Delinquency Ratio Provision Coverage Ratio
21 Notes:
Definitions of delinquencies:
• Equipment leasing with non-check payments: overdue by 30 days or more
• Automobile installment sales in Thailand: overdue by 90 days or more
Source: unaudited financial statements
TWSE Code 5871
Agenda
Management Highlight
1H13 Performance Review
Segment Review
Q&A
Appendix
22
TWSE Code 5871
Agenda
Management Highlight
1H13Performance Review
Segment Review
Q&A
Appendix
24
TWSE Code 5871
Consolidated Balance Sheet Summary
25 Source: unaudited financial statements
NTD'000 2013.06.30 2012.06.30 YoY(%) 2013.03.31 QoQ(%)
Cash and cash equivalents 8,230,226 9,333,054 (12) 10,649,208 (23)
Total fund and investments 5,950,579 4,702,837 27 6,906,167 (14)
Notes and trade receivables 14,546 436,153 (97) 20,045 (27)
Loan and receivables 149,174,206 115,565,215 29 140,995,072 6
Other receivables 6,651,303 5,795,661 15 6,047,756 10
Property, plant and equipment 6,163,250 7,756,911 (21) 6,297,413 (2)
Other assets 5,645,525 3,756,895 50 4,942,072 14
Total assets 181,829,634 147,346,727 23 175,857,733 3
Interest bearing loans and borrowings 114,891,249 100,490,402 14 113,091,517 2
Corporate bond payable 12,936,939 10,686,138 21 12,360,230 5
Bank overdraft 164,781 143,426 15 157,145 5
Other liabilities 27,086,467 19,189,922 41 23,091,144 17
Total liabilities 155,079,436 130,509,887 19 148,700,036 4
Common stock 9,053,004 7,853,004 15 9,053,004 0
Total equity attributable to equity holders 24,985,813 15,254,027 64 25,206,106 (1)
Minority interests 1,764,386 1,582,813 11 1,951,591 (10)
Total equity 26,750,199 16,836,840 59 27,157,697 (2)
TWSE Code 5871
Consolidated Income Statement Summary
26
NTD’000 1H2013 1H2012 YoY(%)
Interest revenue - capital leases 3,594,641 2,850,639 26
Rent revenue - operating leases 1,292,922 1,546,046 (16)
Interest revenue - installment sales 2,644,787 2,212,977 20
Sales revenue 2,621,958 844,228 211
Other reveune 3,333,490 2,295,810 45
Fee Income/Service Fee 1,572,774 1,102,820 43
Other Interest Income 1,391,857 1,082,246 29
Others 368,860 110,745 233
Total revenue 13,487,797 9,749,701 38
Interest expense (2,003,656) (1,954,161) 3
Cost of operating leases (931,047) (1,365,322) (32)
Depreciation of PPE-OL (722,044) (902,446) (20)
Impairment loss of PPE-OL (209,002) (462,876) (55)
Other cost (2,687,355) (1,015,231) 165
COGS (2,339,646) (774,363) 202
Other cost (347,709) (240,868) 44
Total cost (5,622,058) (4,334,715) 30
Gross profit 7,865,739 5,414,986 45
Operating expense (3,968,868) (3,200,199) 24
Employee compensation and benefits (1,731,719) (1,530,607) 13
Impairment loss (1,079,598) (606,422) 78
Other expense (1,157,551) (1,063,169) 9
Other operating gain and loss 82,089 189,577 (57)
Operating profit 3,978,961 2,404,365 65
Non-operating gains/loss 248,796 133,219 87
Profit before income tax 4,227,757 2,537,584 67
Income tax expense (1,195,484) (824,231) 45
Profit after income tax 3,032,273 1,713,353 77
Attributable to equity holders 2,868,686 1,605,743 79
Attributable to minority interests 163,587 107,611 52
EPS 3.17 2.04 55
EPS ( Retroactively adjusted EPS) 2.88 1.85 56
Source: unaudited financial statements