Feng Tay Enterprises : MasterLink Securities 2024 Spring Investment Forum

Feng Tay Enterprises Co., Ltd.

Operating Information

Mar. 05, 2024

1

Feng Tay Enterprises Co., Ltd.

Operating Information

About Feng Tay Group

• Founded in 1971.
• Capital: NTD 9,875 millions.
• Main Business: Shoes Manufacture and Sales
• Group Headquarters: Yunlin Science and Industrial Park in Taiwan.
• Capacity: China(9%) , Indonesia(14%) , Vietnam(48%) and

India(29%).

• Total Number of Employees: around 140,000.

2

Feng Tay Enterprises Co., Ltd.

Operating Information

Agenda

• Financial Highlights - 2023/3Q
• Consolidated Statements of Comprehensive Income - 2023/3Q
• Consolidated Statements of Comprehensive Income - 2023/1~3Q
• Consolidated Balance Sheets - 2023.9.30
• Consolidated Statements of Cash Flows - 2023/1~3Q
• Consolidated Revenue & Profit Attributable to Owners of Parent
• Earnings Per Share
• Q&A

3

Feng Tay Enterprises Co., Ltd.

Operating Information

Financial Highlights - 2023/3Q

NT$ in millions	3Q/'23	2Q/'23	3Q/'22	QoQ	YoY
(unless otherwise noted )
Consolidated Operating	23,073	20,656	25,881	+12%	-11%
Revenue
Consolidated Operating	22%	19%	24%	+3ppt	-2ppt
Gross Margin
Consolidated Operating	13%	13%	12%	-	+1ppt
Expenses Margin
Consolidated Operating	9%	6%	12%	+3ppt	-3ppt
Profit Margin
After Tax Consolidated	8%	6%	12%	+2ppt	-4ppt
Net Profit Margin
EPS (NT$)*	1.71	1.21	2.76	+41%	-38%
Annualized ROE**	31%	22%	49%	+9ppt	-18ppt

* Based on 987,482,831 outstanding shares.

**ROE figures are annualized based on quarterly net profit.

4

Feng Tay Enterprises Co., Ltd.

Operating Information

Consolidated Statements of Comprehensive Income - 2023/3Q

NT$ in millions	3Q/'23	2Q/'23	3Q/'22	QoQ	YoY
(unless otherwise noted )
Revenue	23,073	20,656	25,881	+12%	-11%
Gross Profit	4,993	4,014	6,245	+24%	-20%
Operating Expenses	-3,044	-2,601-3,262 +17%	-7%
Operating Profit	1,949	1,414	2,983	+38%	-35%
Non-Operating Income	458	351	1,074	+30%	-57%
and Expenses
Income Tax Expense	-585	-434-1,107 +35%	-47%
Net Income	1,822	1,331	2,951	+37%	-38%
Net Income attributable to	133	134	229	-1%	-42%
Non-controlling interests
EPS (NT$)*	1.71	1.21	2.76	+41%	-38%

*	Based on 987,482,831 outstanding shares.	5

Feng Tay Enterprises Co., Ltd.

Operating Information

Consolidated Statements of Comprehensive Income - 2023/1-3Q

( In NT millions except otherwise noted )

Revenue

Gross Profit

Operating Expenses

Operating Profit

Non-Operating Income and

Expenses

Income Tax Expense

Net Income

Net Income attributable to

Noncontrolling interests

EPS ( NT$ )*

• Based on 987,482,831 outstanding shares.

1-3Q 2023

Amount %

63,232 100

12,534 20

-8,245-13

4,289 7

778 1

-1,058-2

4,009 6

374 -

3.68

1-3Q 2022

Amount %

73,040 100

17,887 24

-9,229-12

8,657 12

2,280 3

-2,970-4

7,968 11

590 1

7.47

YoY

%

-13%

-30%

-11%

-50%

-66%

-64%

-50%

-37%

-51%

6

Feng Tay Enterprises Co., Ltd.

Operating Information

Consolidated Balance Sheets - 2023.9.30

NT$ in millions (unless otherwise noted )

Cash

Accounts Receivable

Inventory

Long-Term Investment

Property, Plant and Equipment

2023.9.30

Amount %

4,835 9%

8,217 16%

9,040 17%

1,095 2%

22,571 43%

2022.12.31

Amount %

5,076 10%

8,793 17%

9,104 18%

1,051 2%

20,704 40%

2022.9.30

Amount %

4,405 8%

10,340 19%

10,112 19%

1,024 2%

20,567 39%

Total Assets

Bank Loans

Accounts Payable

Other Payables

Income Tax Liabilities

Lease Liabilities

Accrued Pension Liabilities

Total Liabilities

Total Equity

Key Indices

A/R Turnover Days

Inventory Turnover Days

PP&E Turnover Days

52,308 100%

7,855 15%

4,456 9%

4,881 9%

5,110 10%

548 1%

4,424 8%

27,557 52%

24,751 44%

37

49

94

51,310	100%	53,425	100%
2,961	6%	5,565	10%
3,941	8%	4,868	9%
6,442	12%	5,822	11%
6,421	13%	6,457	12%
584	1%	600	1%
3,840	8%	3,743	7%
24,436	48%	27,402	51%
26,873	52%	26,023	49%

3335

4648

7472

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Feng Tay Enterprises Co., Ltd.

Operating Information

Consolidated Statements of Cash Flows - 2023/1~3Q

NT$ in millions (unless otherwise noted )

Beginning Balance

Cash from Operating Activities

Capital Expenditures

Cash Dividends

(Decrease ) or Increase in Loan

Change in non-controlling interests

Others

Ending Balance

2023

1/1~9/30

5,076

5,411

(3,079)

(6,789)

4,765

(506)

(43)

4,835

2022	2021	2020
3,820	4,717	4,038
16,849	1,755	8,589
(4,531)	(3,403)	(3,531)
(3,615)	(3,262)	(2,939)
(6,548)	4,778	124
(728)	(783)	(813)
(171)	18	(751)
5,076	3,820	4,717

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Feng Tay Enterprises Co., Ltd.

Operating Information

( NT$M)

100,000

90,000

80,000

70,000

60,000

50,000

40,000

30,000

20,000

10,000

0

Consolidated Revenue

95,903

85,767*

			73,930	68,960	70,350
		64,498
55,804	58,122	58,633

47,654

38,148

												7,411*
2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024

up to Jan.

( NT$M )

10,000

9,000

8,000

7,000

6,000

5,000

4,000

3,000

2,000

1,000

0

Profit Attributable to Owners of Parent

						9,082
				6,231
	4,453		5,263	4,879	4,542	4,975*
4,238	4,395

3,087

2,294

646*

2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
* The consolidated revenue and net profit attribute to parent are unaudited figures.			up to
		9
											Jan.
Feng Tay Enterprises Co., Ltd									Operating Information

(NT$)

Earnings Per Share

1.2

1.0

0.8

0.6

0.4

0.2

0.0

(0.2)

(0.4)

(0.6)

			1.05	1.10	1.15	1.15
			1.04
0.98
				0.78		0.90													0.82			* 0.65*
																		0.55*
																0.38 0.48
	0.51
									0.40 0.38	0.46 0.44 0.39	0.41		0.34* 0.47
												0.26
												0.04

YY/MM
	Year / Quarter	1Q	2Q	3Q	4Q
	2023	0.76	1.21	1.71	1.36*
	2022	2.35	2.93	3.09	1.93
	2021	1.86	1.93	(0.47)	1.83

Note : EPS is calculated based on weighted average outstanding shares in each year.

* unaudited consolidated earnings

10

Feng Tay Enterprises Co., Ltd.

Operating Information