1HFY21 Results Presentation Note: This presentation is to be read in conjunction with the announcement issued on SGXNET on 11 November 2020. 1
Important Notice This presentation contains forward-looking statements which can be identified by the context of the statement and generally arise when the Company is discussing its beliefs, estimates or expectations. Such statements may include comments on industry, business or market trends, projections, forecasts, and plans and objectives of management for future operations and operating and financial performance, as well as any related assumptions. Readers of this presentation should understand that these statements are not historical facts or guarantees of future performance but instead represent only the Company’s belief at the time the statements were made regarding future events, which are subject to significant risks, uncertainties and other factors, many of which are outside of the Company’s control. Actual results and outcomes may differ materially from what is expressed or implied in such forward-looking statements. The Company cautions readers not to place undue reliance on any forward-looking statements included in this presentation, which speak only as of the date made; and should any of the events anticipated by the forward-looking statements transpire or occur, the Company makes no assurances on what benefits, if any, the Company will derive therefrom. Investor Relations Contact: Name: Mr Gerald Woon Name: Ms Candy Soh Email: woon@cogentcomms.com Email: candysoh@cogentcomms.com Tel: + 65 6704 9288 2
Corporate Profile Shareholding Bloomberg Code VALUE.SP Reuters Code VLUE.SI 25% Stock Code BN2 Index FTSE ST Small Cap, FTSE ST China, FTSE Global MicroCap Issued shares (M) 435.6 Mkt cap (SG$M) (4 Nov 2020) 246.1 75% Share price (SG$) (4 Nov 2020) 0.565 Average volume 3-mth ('000) 1,059 Executive Directors Public Float 52 wk range (SG$) (4 Nov 2020) 0.435 – 0.86 Corporate Information • Electronic Manufacturing Services (“EMS”) player Integrated EMS Provider • Engineering Design & Development established in 1992 in Hong Kong • Listed on Main Board of SGX on 28 March 2007 • Product Design & Deployment • Production facilities in Daya Bay & Danshui Town, • Plastic Injection Moulding Guangdong, PRC (60 minutes from Shenzhen) and • Tool Design and Tool Fabrication Vinh Phuc Province, Vietnam • Metal Stamping & Machining • Auditors: PricewaterhouseCoopers • Printed Circuit Box Assembly and Box Build Assembly • Around 3,500 employees (31 Mar 2020) • Supply Chain Management Accreditations ISO9001:2008,ISO14001:2004,ISO013485: 2003, TL9000 R5.5, TS16949: 2009, IPC J STD-001, IPC-A-610 QML Class 3 3
Business Model Value Add A Premier Design and Manufacturing Partner Design & Development Engaging in Customers • Mechanical & electrical Integrated Value Chain Manufacturing Services engineering design from concept to • Design for manufacturing • SMT mass production • Design & build test • Better manufacturability • Auto insertion & fixtures with enhanced Selective soldering • Rapid prototyping • Wire bonding features & lower cost • Regulatory compliances • Software development • FG assembly • Supply chain management • Testing development • CNC machining services • Industrial design • Injection molding • Tool design & fabrication Proactive deployment of Design & Development capabilities 4
Key Milestones 1992 2002 2003 2005 2007 2008 2008 Headquartered Use of ROHS Adopted work Became Philips Listed on SGX- Became Phillips Completed in Hong Kong equipment and cell management preferred Mainboard & preferred Phase 1 with accredited with & updated to supplier for its commenced supplier for its construction of manufacturing TL9000 ISO9001:2000 consumer construction for Lighting segment Daya Bay Facility facilities in lifestyle segment Daya Bay Facility Danshui Town PRC 2009 2012 2014 2015 2017 2019 2019 Opened Daya Celebrated 20 th Adoption of Received Received 2016 Awarded 2019 Established Bay Facility, anniversary with formal dividend TS16949 Above & Beyond Sustainability Manufacturing acquired medical revenue crossing policy certification – Pinnacle Award Award, Small footprint in business HKS2 billion for Supplier Cap – Runner Up Vietnam Excellence from from SIAS Delphi 5
Daya Bay Facility – Bird’s -Eye View • Land use rights acquired in 2006 • Total site area > 110,000 sq m 6
Customer & Product Portfolio Industrial & Commercial Consumer Electronics Electronics • Ability to accommodate customers requirement for various volume, mix and complexity • Customer base ranged from emerging enterprises in Northern American (low- volume complex custom product) to top global Multi-National Corporations (high-volume standards product) 7
Industrial & Commercial Electronics Printers Nasdaq-listed Company Transaction Printer for Slot, POS & Teller Station Machines Global Brand owned by NYSE-listed MNC Thermal Label Printer for Industrial & Commercial Use 8
Industrial & Commercial Electronics Sensing Devices Unit of a NYSE-listed MNC Company owned by a UK PE Fund Cold Chain Temperature Monitor for Industrial Electronic Thermostats & Commercial Use Biotechnology company based in United States and Canada Networked Pheromone Dispenser 9
Industrial & Commercial Electronics (Cont’d) Communication Products United States based Company Taiwan-listed Company Company Based in North America High Precision GPS for Industrial Use 10
Industrial & Commercial Electronics (Cont’d) Electronic Products for Automotive Industry Tier 1 Automotive System Manufacturer Data and media connectivity module 11
Consumer Electronics Consumer Lifestyle Products Consumer Lifestyle Division of a Dutch MNC PCBA for Shavers & Electric Toothbrushes for Consumer Use 12
Consumer Electronics (Cont’d) Smart Lighting with IOT Features Wireless lighting contain various LED specially chosen to produce wide range of intensities and over 16 million colours; Wirelessly controlled by mobile application 13
1HFY21 Financial Highlights 14
Financial Highlights HK$’M 1HFY21 1HFY20 % Change Revenue 1,094.9 1,367.1 -19.9 Gross Profit 185.9 205.9 -9.7 Gross Profit Margin 17.0% 15.1% 1.9% pt Net Profit for 91.5 104.1 -12.1 the period Net Profit Margin 8.4% 7.6% 0.8% pt 15
Financial Highlights Revenue Contribution 1HFY21 1HFY20 33.3% HK $365M 66.7% 58.4% 41.6% HK HK HK $569M $730M $798M Consumer Electronics Industrial and Commercial Electronics 16
Revenue Trend HK$’ M 2,828.8 2,853.7 2,900.0 2,354.4 2,400.0 2,274.9 1,455.6 1,952.9 1,667.6 1,900.0 1,438.4 1,287.8 1,367.1 1,400.0 1,128.3 1,094.9 798.4 900.0 729.8 1,398.1 1,161.2 987.1 916.0 400.0 824.6 568.7 365.1 -100.0 FY16 FY17 FY18 FY19 FY20 1HFY20 1HFY21 Consumer Electronics Industrial & Commercial Electronics 17
Half-year Revenue HK$’ M 1600.0 1,421.4 1,432.3 1,420.2 1,408.6 1,367.1 1400.0 1,223.7 1,094.9 1200.0 987.3 731.1 724.5 1000.0 811.5 856.1 798.4 662.7 800.0 729.8 639.9 600.0 400.0 701.2 696.9 597.1 568.7 561.0 564.1 200.0 365.1 347.4 0.0 2HFY17 1HFY18 2HFY18 1HFY19 2HFY19 1HFY20 2HFY20 1HFY21 Consumer Electronics Industrial & Commercial Electronics 18
Revenue by Shipment Destination 100% 13.7% 13.7% 15.0% 90% 80% 70% Europe 41.3% 44.5% 43.7% 60% 50% China & Asia Pacific 40% North 30% America 45.0% 41.8% 41.3% 20% 10% 0% FY19 FY20 1HFY21 19
Gross Profit & Net Profit Trend 250 18.0% 17.0% 15.7% 15.9% 15.1% 16.0% 14.8% 14.8% 14.3% 14.7% 220.5 200 209.2 209.8 205.9 185.9 14.0% 205.4 181.6 12.0% 156.9 150 10.0% 8.4% 7.6% 7.6% 7.5% 7.3% 7.1% 8.0% 7.0% 6.6%# 100 6.0% 105.5 91.5 104.1 94.0# 4.0% 105.1 50 74.8 99.6 86.5 2.0% 0 0.0% 2HFY17 1HFY18 2HFY18 1HFY19 2HFY19 1HFY20 2HFY20 1HFY21 Gross Profit Net Profit GP% Net Profit Margin # Included the impairment loss of HK$13.6M recognised in respect of flash floods at the Danshui Factory 20
Market Capitalisation & Net Cash Balance HK’M 2800 2,794.3 2600 2400 2200 2000 1800 1,708.9 1600 1,592.6 1400 1,395.0 1200 1,268.0 1,231.6 1,209.0 1,159.3 1,132.3 1000 1,062.0 1,053.1 938.6 930.4 800 752.9 600 671.1 400 200 0 FY17 FY18 FY19 FY20 1HFY21 NAV Market Cap Net Cash balance 21
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