Catcher Technology : 2023 Q2 Results Material

Catcher Technology

2023 Q2 Earnings Results

2023/08

CATCHER confidential

Disclaimer

• This presentation contains "forward-looking statements"- that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects" , "anticipates", "intends", "plans", "believes", "seeks", or "will".
• Forward-lookingstatements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to different materially from those contained in any forward-looking statement. Such factors include, but are not limited to: our highly competitive environment; the cyclical nature of our business; our ability to develop new products; and our successful execution in new business developments.

CATCHER confidential

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2Q23 Financial Summary

• Revenue reached NT$ 6.892bn, +94.6% q-q thanks to continued de-stocking and new product launch, +30.6% y-y due to de-stocking and a low base.
• Gross margin was 32.9%; +10.0pp q-q and +4.5pp y-y driven by revenue expansion, product mix adjustment and lower depreciation expense.
• OP margin was 19.8%; +20.2pp q-q and +8.3pp y-y due to GM expansion and cost control.
• NTD depreciation led to net FX gains of NT$ 2.582bn.
• NPBT reached NT$ 6.979bn; +497.8% q-q and +55.7% y-y due to revenue expansion and FX gains.
• NPAT reached NT$ 4.483bn; +407.3% q-q and +27.6% y-y.
• Basic EPS was NT$ 6.59 in 2Q23 vs. NT$ 1.25 in 1Q23/NT$ 4.88 in 2Q22.
• CAPEX was NT$ 140mn in 2Q23 vs. NT$ 73mn in 1Q23/NT$ 100mn in 2Q22.
• D&A was NT$ 715mn in 2Q23 vs. NT$ 746mn in 1Q23/NT$ 907mn in 2Q22.
• EBITDA was NT$ 2.082bn in 2Q23 vs. NT$ 730mn in 1Q23/NT$ 1.514bn in 2Q22.

* EBITDA = Operating Profit + Depreciation + Amortization

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1H23 Financial Summary

• Total revenue reached NT$ 10.434bn, -16.5%y-y as demand hasn't fully recovered.
• Gross profit was NT$ 3.083bn, -15.3%y-y; gross margin was 29.5%, +0.4pp y-y, thanks to product mix adjustment and lower depreciation expenses.
• Operating profit was NT$ 1.351bn, -20.5%y-y; OP margin was 13.0%, -0.6ppy-y.
• NPBT was NT$ 8.147bn, +8.2% y-y; NPBT margin was 78.1%, +17.9pp y-y.
• NPAT was NT$ 5.367bn, -3.6%y-y; NPAT margin was 51.4%, +6.8pp y-y.
• Basic EPS was NT$ 7.75 in 1H23 vs. NT$ 7.67 in 1H22.
• CAPEX was NT$ 212mn in 1H23 vs. NT$ 247mn in 1H22.
• D&A was NT$ 1,461mn in 1H23 vs. NT$ 1,838mn in 1H22.
• EBITDA was NT$ 2,812mn in 1H23 vs. NT$ 3,539mn in 1H22.

* EBITDA = Operating Profit + Depreciation + Amortization

CATCHER confidential

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2Q23 vs. 1Q23 Profit & Loss

(In NTD mn)

Revenue

Gross Profit

Opt. Expense

Opt. Profit

Non-Opt. Income

Net Profit Before Tax

Net Profit After Tax

(attr. to parent company) Basic EPS (NTD)

EBITDA

	2Q23				1Q23
	Amount	%			Amount	%			qoq
	6,892	100.0%			3,542	100.0%			94.6%
	2,271	32.9%			812	22.9%			179.7%
	904	13.1%			828	23.4%			9.2%
	1,367	19.8%			(16)	-0.4%			N.M.
	5,612	81.4%			1,183	33.4%			374.3%
	6,979	101.3%			1,167	33.0%			497.8%
	4,483	65.1%			884	25.0%			407.3%
$	6.59		$	1.25		$	5.34
	2,082	30.2%			730	20.6%			185.1%

• FX gains reached NT$ 2,582mn in 2Q23

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