Transcript Document
ABOUT EXCELPOINT TECHNOLOGY LIMITED
Excelpoint Technology Ltd is a design and development engineering solutions provider serving OEMs, CMs and sub-contractors in various industries including telecommunications, consumer electronics, industrial and instrumentation electronics, automotive, computers and computer peripherals.
OUR BUSINESS MODEL
OEM / EMS Sub-System Manufacturing Design & Development Services Supply Chain Management Field Application Services Value Added Distribution Distribution
OUR ROLE IN THE CUSTOMER’S VALUE CHAIN
We are the “Solutions Partner”; providing ”One-Stop Solution” to meet customer requirement. A value chain service from product concept, development, attain international approval, manufacturing; till door-step delivery.
Client Product Concept Proto Develop ment H/W Develop ment S/W Develop ment Product Test & Qual Pre/Mass Production Mktg & Sales After Sales
Our Design & Development Services Option
Reference Design; Design Review, Services and Applications Production Test Plan & Systems Pre-testing International Type Approval & Qualifications Development, Prototype, Mass Production & Logistics Marketing & Sales Turnkey Project Management
A REVIEW OF OUR Q4 & FY 2004 FULL YEAR PERFORMANCE
*
Q4 FY2004
KEY CUSTOMERS
•
TCL MOBILE
•
SHANGHAI SUNCOM
•
FLEXTRONICS
•
BELL SYSTEMS
•
MIDAS COMMUNICATION
OUR BUSINESS STRATEGY
DESIGN-IN
•
Leverage and complement upon the strengths of our principal’s chipset solutions.
•
Focus on our value add on creating new applications, cost down, and productization.
•
Differentiate by controlling software embedded into our solutions.
OUR BUSINESS STRATEGY
DESIGN-IN
•
Provide risk sharing models with low Non Recurring Engineering charges (NRE) to encourage customers to adopt our solutions.
•
Develop innovative reference solutions to assist our customers to differentiate themselves from their competitors.
ENGINEER VS EMPLOYEE PROFILE
FY Q1-04 Q2-04 Q3-04 Q4-04 FY03 Var(%) No. of Employees 440 463 No. of Engineers 108 483 497 421 18 110 111 121 87 39
D&D AND FIELD ENGINEERS vs NON ENGINEERING STAFF
(nos of persons)
2004 121 2003 87 2002 292 88 2001 2000 0
* Forecast
40 50 54 194 253 100 150 200 250 300 D& D & Field Engineers Mgmt, Mktg & Others 334 350 376 400
OUR GEOGRAPHIC REACH
Excelpoint has a network of 36 subsidiaries and representative offices located across the Asia Pacific.
EXCELPOINT’S GEOGRAPHIC FOOTPRINTS SINGAPORE
Headquarter • • • • • • • • •
CHINA
Beijing Chengdu Xian Nanjing Qingdao Shanghai Xiamen Shenzhen Dong Guan •
HONG KONG
• •
MALAYSIA
Kuala Lumpur Penang
•
PHILIPPINES
Manila
•
THAILAND
Bangkok
• • • • •
INDIA
New Delhi Mumbai Pune Hyderabad Bangalore •
AUSTRALIA
Sydney
OUR FINANCIAL PERFORMANCE
1,100,000 900,000 700,000 500,000 300,000 100,000 -100,000
REVENUE
(in S$'000)
651,490 211,926 164,767 145,626 129,171 2003 Rev
Q1
50 %
Q2
976,542 184,868 245,557 287,455
Q3
258,662 2004 Rev
Q4
NET PROFIT AFTER TAX
(in S$'000)
15000
10,689
10000 5000 0 3,721
4,880 589 1,499
FY 2003 -5000
4,355 5,915
3,632 FY 2004
-1,722
Q1 Q2 Q3 Q4 Full Year
12,180
NET PROFIT AFTER TAX MARGIN (%) 2.5
2 1.5
1 0.5
0 -0.5
-1 -1.5
1.7
Q1FY04 2.1
Q2FY04 1.5
Q3FY04 Q4FY04 -0.9
CORE BUSINESSES Q404
• Design-in Services • Distribution Services
Distribution Services 49.6%*
* By Revenue
Design-in Services 50.4%*
300,000 200,000 100,000 0
REVENUE BY BUSINESS ACTIVITY
(in S$'000)
76,754 91,656 135,172 93,212 Q4 2003 Design-in Distribution Q4 2004
1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0
REVENUE BY BUSINESS ACTIVITY
(in S$'000)
361,495 260,133 615,047 391,357 FY2003 Design-in FY2004 Distribution
India 6% REVENUE BY GEOGRAPHIC LOCATIONS
(S$ '000) - Q404
M'sia 7% Others 10% S'pore 17% China 60%
WORKING CAPITAL MANAGEMENT
(Days)
90 80 70 60 50 40 30 20 10 0 60 53 46 65 Debtors' T/O 81 63 52 70 Creditors' T/O 50 40 35 51 Inventory T/O 2002 2003 FY2004 Q4 FY2004
CASH FLOW
(S$ ‘000)
•
Operating cash flows before reinvestment in working capital
•
Net cash flows from/ (used in) operating activities
•
Net cash flows used in investing activities
•
Net cash flows used in financing activities
•
Cash & Cash equivalents at period end Q4 2004 (372) 5,180 (421) (30,490) 20,683 Q4 2003 6,989 8,786 (201) (2,432) 20,253
CASH FLOW
(S$ ‘000)
•
Operating cash flows before reinvestment in working capital
•
Net cash flows used in operating activities
•
Net cash flows used in investing activities
•
Net cash flows from financing activities (Includes net IPO proceeds of $34 million)
•
Cash & Cash equivalents at period end FY2004 20,188 (14,001) (1,413) 17,764 20,683 FY2003 17,064 (3,211) (971) 11,576 20,253
FY KEY FINANCIAL HIGHLIGHTS Q4-04 Q4-03 Var.(%) 2004 2003 Var.(%) Revenue (S$m) 184.9 211.9 12.8 976.5 651.5 49.9
Op Profit (S$m) -0.8
6.5 - 111.6 18.7 15.6 20.1
PAT (S$m) -1.7
4.9 - 135.3
12.2
10.7 13.9
EPS (cents) * ROE (%) - 0.35 1.40 -125.0 2.52 3.07 - 17.9
- 2.5
19.2 - 113.0 17.5 42.2 - 58.5
* For comparative purposes, EPS is calculated based on profit attributable to shareholders and the weighted average post-invitation share capital of 482,378,299 (Q4, FY2003: 347,971,200).