Balance Sheet Sanyang Motor Co., Ltd.

Equities

2206

TW0002206000

Auto & Truck Manufacturers

End-of-day quote Taiwan S.E. Other stock markets 2024-09-18			5-day change	1st Jan Change
75.40 ^TWD	+2.45%		+3.43%	+5.60%

Aug. 14	Sanyang Motor Co., Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024	CI
May. 15	Sanyang Motor Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

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Published financial data: SANYANG MOTOR CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	33.38B	40.77B	41.62B	50.85B	64.46B
Total Revenues	33.38B	40.77B	41.62B	50.85B	64.46B
Cost of Goods Sold, Total	27.56B	32.97B	33.68B	41.13B	51.05B
Gross Profit	5.82B	7.81B	7.93B	9.72B	13.41B
Selling General & Admin Expenses, Total	4.25B	4.77B	4.61B	5.06B	5.95B
Provision for Bad Debts	57.42M	-3.69M	-17.1M	26.05M	4.47M
R&D Expenses	1.07B	1.08B	1.12B	1.22B	1.35B
Other Operating Expenses, Total	5.37B	5.85B	5.71B	6.3B	7.3B
Operating Income	451M	1.96B	2.22B	3.42B	6.11B
Interest Expense, Total	-235M	-226M	-196M	-279M	-438M
Interest And Investment Income	326M	291M	259M	337M	667M
Net Interest Expenses	90.21M	65.27M	62.55M	58.4M	228M
Income (Loss) On Equity Invest.	-7.49M	2.45M	-18.33M	-624M	-90.15M
Currency Exchange Gains (Loss)	-45.19M	-119M	-45.71M	245M	167M
Other Non Operating Income (Expenses)	232M	221M	167M	186M	107M
EBT, Excl. Unusual Items	721M	2.13B	2.39B	3.28B	6.52B
Gain (Loss) On Sale Of Investments	14.29M	-	-	499M	17.71M
Gain (Loss) On Sale Of Assets	1.99B	434M	-33.8M	-51.17M	1.53B
Asset Writedown	-311M	-69.22M	-12.57M	-24.4M	-
Insurance Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	345M	-
EBT, Incl. Unusual Items	2.41B	2.49B	2.34B	4.05B	8.08B
Income Tax Expense	218M	442M	377M	610M	1.41B
Earnings From Continuing Operations	2.19B	2.05B	1.96B	3.44B	6.66B
Net Income to Company	2.19B	2.05B	1.96B	3.44B	6.66B
Minority Interest	33.76M	-114M	-135M	-324M	-366M
Net Income - (IS)	2.23B	1.94B	1.83B	3.12B	6.3B
Net Income to Common Incl Extra Items	2.23B	1.94B	1.83B	3.12B	6.3B
Net Income to Common Excl. Extra Items	2.23B	1.94B	1.83B	3.12B	6.3B
Per Share Items
Net EPS - Basic	2.71	2.41	2.3	3.93	7.95
Basic EPS - Continuing Operations	2.71	2.41	2.3	3.93	7.95
Basic Weighted Average Shares Outstanding	821M	803M	795M	793M	793M
Net EPS - Diluted	2.71	2.41	2.3	3.93	7.93
Diluted EPS - Continuing Operations	2.71	2.41	2.3	3.93	7.93
Diluted Weighted Average Shares Outstanding	823M	804M	796M	794M	794M
Normalized Basic EPS	0.59	1.52	1.71	2.18	4.68
Normalized Diluted EPS	0.59	1.51	1.71	2.18	4.68
Dividend Per Share	1.01	1.31	1.3	1.8	3
Payout Ratio	37.11	41.85	57.04	33.28	22.79
Supplemental Items
EBITDA	1.54B	3.19B	3.49B	4.64B	7.35B
EBITA	516M	2.03B	2.25B	3.44B	6.15B
EBIT	451M	1.96B	2.22B	3.42B	6.11B
EBITDAR	1.59B	3.22B	3.52B	4.69B	7.88B
Effective Tax Rate - (Ratio)	9.03	17.73	16.08	15.06	17.49
Total Current Taxes	184M	492M	351M	629M	1.48B
Total Deferred Taxes	33.95M	-50.12M	25.57M	-19.38M	-71.42M
Normalized Net Income	484M	1.22B	1.36B	1.73B	3.71B
Interest on Long-Term Debt	10.78M	11.91M	10.77M	15.32M	15.04M
Non-Cash Pension Expense	11.89M	19.89M	3.47M	4.63M	11.67M
Supplemental Operating Expense Items
Selling and Marketing Expenses	2.86B	3.12B	3.19B	3.48B	4.15B
General and Administrative Expenses	1.38B	1.65B	1.42B	1.58B	1.8B
Research And Development Expense From Footnotes	1.07B	1.08B	1.12B	1.22B	1.35B
Net Rental Expense, Total	51.42M	35M	25.2M	46.37M	523M
Imputed Operating Lease Interest Expense	5.98M	3.74M	2.31M	4.94M	78.46M
Imputed Operating Lease Depreciation	45.45M	31.26M	22.9M	41.43M	445M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	3.98B	4.86B	4.83B	7.87B	8.81B
Short Term Investments	4.86B	2.61B	2.64B	1.38B	1.01B
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	8.84B	7.48B	7.47B	9.24B	9.82B
Accounts Receivable, Total	2.28B	2.14B	2.46B	2.74B	2.68B
Other Receivables	262M	316M	566M	860M	747M
Total Receivables	2.55B	2.45B	3.03B	3.6B	3.42B
Inventory	4.63B	5.66B	6.87B	9.86B	10.75B
Prepaid Expenses	676M	677M	751M	805M	750M
Other Current Assets, Total	2.11B	3.65B	4B	5.23B	5.4B
Total Current Assets	18.8B	19.91B	22.12B	28.74B	30.14B
Gross Property Plant And Equipment	33.3B	34.84B	33.58B	35.35B	34.39B
Accumulated Depreciation	-20.34B	-21.32B	-20.17B	-20.67B	-18.92B
Net Property Plant And Equipment	12.96B	13.52B	13.41B	14.68B	15.47B
Long-term Investments	3.99B	5.37B	5.84B	7.59B	10.49B
Goodwill	-	-	-	667M	667M
Other Intangibles, Total	-	-	-	373M	429M
Accounts Receivable Long-Term	348M	433M	465M	537M	650M
Deferred Tax Assets Long-Term	553M	534M	529M	578M	668M
Other Long-Term Assets, Total	4.47B	4.25B	4.16B	3.91B	4.27B
Total Assets	41.12B	44.02B	46.53B	57.08B	62.78B
Liabilities
Accounts Payable, Total	2.81B	4.11B	4.33B	4.59B	4.68B
Accrued Expenses, Total	128M	119M	110M	117M	117M
Short-term Borrowings	11.51B	9.46B	7.72B	10.02B	8.42B
Current Portion of Long-Term Debt	778M	597M	460M	820M	597M
Current Portion of Leases	124M	124M	126M	137M	135M
Current Income Taxes Payable	60.31M	351M	305M	457M	922M
Unearned Revenue Current, Total	188M	292M	439M	540M	416M
Other Current Liabilities	1.92B	3.47B	3.16B	3.8B	4.95B
Total Current Liabilities	17.52B	18.53B	16.65B	20.49B	20.24B
Long-Term Debt	4.37B	5.61B	9.17B	12.22B	13.14B
Long-Term Leases	621M	563M	529M	645M	614M
Pension & Other Post Retirement Benefits	972M	841M	851M	811M	520M
Deferred Tax Liability Non Current	1.6B	1.51B	1.51B	1.53B	1.52B
Other Non Current Liabilities	809M	904M	1B	1.14B	1.35B
Total Liabilities	25.88B	27.95B	29.71B	36.83B	37.38B
Common Stock, Total	8.54B	8.03B	7.98B	7.97B	7.97B
Additional Paid In Capital	1.74B	1.73B	1.71B	1.71B	1.71B
Retained Earnings	6.07B	6.58B	7.18B	9.6B	14.2B
Treasury Stock	-716M	-133M	-133M	-133M	-133M
Comprehensive Income and Other	-1.59B	-1.44B	-1.32B	-1.33B	-1.36B
Total Common Equity	14.03B	14.77B	15.41B	17.83B	22.4B
Minority Interest	1.21B	1.3B	1.41B	2.41B	3B
Total Equity	15.24B	16.07B	16.82B	20.24B	25.39B
Total Liabilities And Equity	41.12B	44.02B	46.53B	57.08B	62.78B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	821M	798M	792M	792M	792M
ECS Total Common Shares Outstanding	821M	798M	792M	792M	792M
Book Value / Share	17.1	18.52	19.45	22.51	28.27
Tangible Book Value	14.03B	14.77B	15.41B	16.79B	21.3B
Tangible Book Value Per Share	17.1	18.52	19.45	21.2	26.89
Total Debt	17.4B	16.35B	18.01B	23.85B	22.9B
Net Debt	8.56B	8.87B	10.54B	14.6B	13.08B
Debt Equivalent of Unfunded Proj. Benefit Obligation	972M	840M	851M	809M	518M
Debt Equivalent Oper. Leases	411M	280M	202M	371M	4.19B
Minority Interest, Total (Incl. Fin. Div)	1.21B	1.3B	1.41B	2.41B	3B
Equity Method Investments, Total	710M	705M	733M	4.64B	4.63B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	2.04B	3.16B	4.91B	7.21B	6.91B
Inventories - Work In Process, Total	187M	265M	331M	440M	295M
Inventories - Finished Goods, Total	1.86B	2.11B	1.55B	2.12B	3.12B
Inventories - Others	548M	118M	83.34M	90.53M	429M
Land - (BS)	5.89B	6.24B	6.24B	7.05B	7.17B
Buildings, Total	6.17B	6.83B	7.02B	7.36B	7.34B
Machinery, Total	18.52B	17.24B	16.08B	16.06B	14.11B
Assets on Operating Lease - Gross	1.23B	1.34B	1.42B	1.56B	1.72B
Assets on Operating Lease - Accumulated Depreciation	-411M	-503M	-540M	-607M	-662M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.23B	1.94B	1.83B	3.12B	6.3B
Depreciation & Amortization - CF	1.15B	1.31B	1.38B	1.36B	1.37B
Amortization of Goodwill and Intangible Assets - (CF)	64.98M	69.55M	29.77M	23.31M	42.06M
Depreciation & Amortization, Total	1.22B	1.38B	1.41B	1.38B	1.41B
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-1.99B	-434M	33.8M	51.17M	-1.53B
(Gain) Loss on Sale of Investments - (CF)	-14.29M	-33.05M	-374K	-501M	-17.71M
Asset Writedown & Restructuring Costs	311M	69.22M	12.57M	24.4M	36.26M
(Income) Loss On Equity Investments - (CF)	7.49M	-2.45M	18.33M	624M	90.15M
Provision and Write-off of Bad Debts	57.42M	-3.69M	-17.1M	26.05M	4.47M
Other Operating Activities, Total	-95.2M	232M	17.44M	22.05M	516M
Change in Trading Asset Securities	14.29M	13.45M	22.28M	-	-
Change In Accounts Receivable	117M	169M	-328M	-252M	53.82M
Change In Inventories	-723M	-1.25B	-1.38B	-3B	-1.21B
Change In Accounts Payable	316M	1.34B	225M	233M	41.33M
Change in Unearned Revenues	40.22M	104M	146M	94.36M	-119M
Change in Other Net Operating Assets	-137M	1.36B	-546M	219M	1.37B
Cash from Operations	1.35B	4.89B	1.44B	2.03B	6.93B
Capital Expenditure	-2.49B	-1.99B	-1.26B	-1.44B	-1.88B
Sale of Property, Plant, and Equipment	247M	305M	258M	263M	180M
Cash Acquisitions	-	-	-	471M	-
Divestitures	33.4M	-	-	-	-
Sale (Purchase) of Real Estate properties	51.41M	75.95M	-	-840M	66.85M
Sale (Purchase) of Intangible assets	-	-	-	-	-78.46M
Investment in Marketable and Equity Securities, Total	-5.89B	-457M	-779M	-2B	-2.91B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-86.22M	-85.2M	-31.6M	-71.5M	-113M
Other Investing Activities, Total	2.48B	503M	-128M	41.34M	1.1B
Cash from Investing	-5.65B	-1.64B	-1.94B	-3.58B	-3.64B
Short Term Debt Issued, Total	52.28B	72.25B	65.84B	65.46B	56.1B
Long-Term Debt Issued, Total	2.97B	6.5B	6.84B	14.82B	31.67B
Total Debt Issued	55.25B	78.75B	72.68B	80.28B	87.77B
Short Term Debt Repaid, Total	-48.92B	-74.24B	-67.58B	-63.26B	-57.64B
Long-Term Debt Repaid, Total	-4.6B	-5.57B	-3.53B	-11.53B	-31.12B
Total Debt Repaid	-53.52B	-79.82B	-71.11B	-74.79B	-88.76B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-462M	-164M	-4.35M	-
Common Dividends Paid	-826M	-811M	-1.04B	-1.04B	-1.44B
Common & Preferred Stock Dividends Paid	-826M	-811M	-1.04B	-1.04B	-1.44B
Other Financing Activities, Total	24.34M	57.2M	96.78M	51.01M	112M
Cash from Financing	927M	-2.28B	455M	4.5B	-2.31B
Foreign Exchange Rate Adjustments	-63.6M	-86.13M	9.78M	84.66M	-31.14M
Net Change in Cash	-3.44B	878M	-31.21M	3.04B	944M
Supplemental Items
Cash Interest Paid	238M	232M	196M	278M	439M
Cash Income Tax Paid (Refund)	224M	218M	400M	497M	1.01B
Levered Free Cash Flow	-1.66B	1.25B	-804M	-1.78B	3.74B
Unlevered Free Cash Flow	-1.51B	1.4B	-681M	-1.61B	4.01B
Change In Net Working Capital	523M	-776M	2.22B	3.68B	-752M
Net Debt Issued / Repaid	1.73B	-1.07B	1.57B	5.49B	-991M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.72	2.88	3.07	4.12	6.37
Return on Total Capital	0.91	3.76	4.13	5.41	8.27
Return On Equity %	14.94	13.11	11.95	18.56	29.2
Return on Common Equity	16.57	13.46	12.13	18.75	31.31
Margin Analysis
Gross Profit Margin %	17.44	19.15	19.06	19.11	20.8
SG&A Margin	12.72	11.69	11.08	9.95	9.23
EBITDA Margin %	4.6	7.81	8.39	9.12	11.4
EBITA Margin %	1.55	4.98	5.41	6.76	9.54
EBIT Margin %	1.35	4.81	5.34	6.72	9.48
Income From Continuing Operations Margin %	6.57	5.03	4.72	6.76	10.34
Net Income Margin %