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ASUSTeK
4Q 2012 Investor Conference
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Disclaimer
ASUSTeK’s presentation contains forward-looking statements subject to significant risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements.
The forward-looking statements in this release reflect the current belief of ASUS as of the date of this release, we undertake no obligation to update these forward-looking statements for new information, future events, or otherwise.
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Agenda
• 4Q 2012 Financial Result
• Business Highlights
• Strategy & Outlook
• Q & A
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4Q 2012 Financial Result
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4Q 2012 Brand I/S (YoY)(unaudited brand consolidated financials)
* EPS $ 7.82 based on 752.8m shares
*
in NT$ Mn 4Q 2012 % 4Q 2011 % YoY
Net Revenue 116,601 100.0% 102,646 100.0% 14%
COGS (100,808) (86.5%) (88,673) (86.4%) 14%
Gross Profit 15,793 13.5% 13,973 13.6% 13%
Operating Expenses (9,738) (8.4%) (9,110) (8.9%) 7%
Operating Income 6,055 5.2% 4,863 4.7% 25%
Non-OP Items 1,269 1.1% 561 0.5% 126%
Pre-Tax Income 7,324 6.3% 5,424 5.3% 35%
Tax (1,438) (1.2%) (543) (0.5%) 165%
Net Income 5,886 5.0% 4,881 4.8% 21%
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4Q 2012 Brand I/S (QoQ)(unaudited brand consolidated financials)
in NT$ Mn 4Q 2012 % 3Q 2012 % QoQ
Net Revenue 116,601 100.0% 111,436 100.0% 5%
COGS (100,808) (86.5%) (96,993) (87.0%) 4%
Gross Profit 15,793 13.5% 14,442 13.0% 9%
Operating Expenses (9,738) (8.4%) (8,678) (7.8%) 12%
Operating Income 6,055 5.2% 5,764 5.2% 5%
Non-OP Items 1,269 1.1% 1,789 1.6% -29%
Pre-Tax Income 7,324 6.3% 7,553 6.8% -3%
Tax (1,438) (1.2%) (839) (0.8%) 72%
Net Income 5,886 5.0% 6,714 6.0% -12%
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2012 Brand I/S (YoY)(unaudited brand consolidated financials)
* EPS $ 29.79 based on 752.8m shares
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in NT$ Mn 1~4Q 2012 % 1~4Q 2011 % YoY
Net Revenue 413,145 100.0% 350,256 100.0% 18%
COGS (356,852) (86.4%) (301,771) (86.2%) 18%
Gross Profit 56,293 13.6% 48,485 13.8% 16%
Operating Expenses (34,283) (8.3%) (30,655) (8.8%) 12%
Operating Income 22,011 5.3% 17,830 5.1% 23%
Non-OP Items 4,916 1.2% 1,886 0.5% 161%
Pre-Tax Income 26,927 6.5% 19,715 5.6% 37%
Tax (4,504) (1.1%) (3,137) (0.9%) 44%
Net Income 22,422 5.4% 16,578 4.7% 35%
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4Q 2012 Non-OP Items(unaudited brand consolidated financials)
Non-OP Items 4Q 2012 3Q 2012 QoQ 4Q 2011 YoY
Interest Income (net) 89 56 58% 51 75%
Investment Income 556 202 175% 146 280%
Pegatron 645 329 96% 235 174%
Askey (138) (91) -51% (14) -884%
Others 50 (35) 241% (74) 167%
Exchange Gain / (Loss) 534 1,175 -55% 214 149%
Dividend Income 423
Other Income (net) 90 (67) 234% 149 -40%
Total Non-OP items 1,269 1,789 -29% 561 126%
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4Q 2012 Brand B/S
*CCC calculation based on net ending inventory balance and quarterly unaudited consolidated brand financials
in NT$ Mn Dec 31, 2012 Sep 30, 2012 QoQ Dec 31, 2011 YoY
Cash & cash equivalents 48,726 42,572 14% 40,542 20%
Accounts receivable 59,892 66,396 -10% 49,285 22%
Inventories 75,154 70,213 7% 53,374 41%
Current Assets 194,314 190,113 2% 163,684 19%
Long-term investments 50,946 49,628 49,969
Fixed assets 4,835 4,532 4,166
Other assets 2,115 2,160 1,905
Total Assets 252,209 246,433 2% 219,724 15%
Accounts payable 57,869 55,481 4% 49,237 18%
Current Liabilities 121,729 123,215 -1% 100,101 22%
Total Liabilities 126,147 127,652 -1% 104,776 20%
Paid-in capital 7,528 7,528 7,528
Stockholders' equity 126,062 118,781 6% 114,948 10%
Days of Inventory 68 66 61
Days of AR 47 54 44
Days of AP 58 52 56
CCC Days 57 68 49
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Business Highlights
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Revenue Growth
In NT$ billion
YoY +23% +31% +9% +14%
350
413
2011 2012
91 94 111 117
1Q 12 2Q 12 3Q 12 4Q 12
74 72
102 103
1Q 11 2Q 11 3Q 11 4Q 11
17.8
22.0
2011 2012
4.75.4 5.8 6.1
1Q 12 2Q 12 3Q 12 4Q 12
3.54.2
5.3 4.9
1Q 11 2Q 11 3Q 11 4Q 11
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Operating Profit Growth
In NT$ billion
YoY +37% +28% +10% +25%
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4Q 2012 Revenue Mix
By Product By Region
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2012 Product Mix
2012 2011
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2012 Region Mix
2012 2011
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1Q 2013 Shipment Outlook
targets
1Q 2012 2Q 2012 3Q 2012 4Q 2012 1Q 2013
NB/hybrid 4.1m 4.4m 5.0m 5.5m 4.7m
EPC 0.9m 1.1m 0.8m 0.3m -
EPAD 0.6m 0.8m 2.3m 3.0m 3.0m
MB 5.5m 5.4m 5.8m 5.5m 5.0m
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2013 Shipment Outlook
2011 2012 2013 targets
NB/hybrid 14.7m 19.0m 20~25m*
EPC 4.9m 3.1m -
EPAD 1.8m 6.7m >12m
MB 23.2m 22.2m 22~24m
* Note: Total Windows based device to deliver >10% YoY revenue growth.
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Strategy & Outlook
Ubiquitous Cloud Computing (UCC)
SoLoMo.Personalize
2012-2015 Key UCC Device TAMUnit: Million
Source: PC & Tablet, Gartner, Q4 2012 ; Smartphone, IDC, Sep 2012
Desktop & Mobile PC Tablet Smartphone
2-in-1 (NB ∙ Tablet) 3-in-1 (NB ∙ Tablet ∙ Smartphone)
TouchBeauty ResponsivenessSound Ubiquity
Customer Happiness 2.0
4,158 Awards won in 2012
7% Growth
ASUS was nominated for a record breaking 11 awards across 9
categories at this years annual T3 awards (the biggest annual
awards in the industry). We won a total of 5 which is amazing
including Tech Brand of the Year, beating Apple and Samsung Tech Brand of the Year, beating Apple and Samsung Tech Brand of the Year, beating Apple and Samsung Tech Brand of the Year, beating Apple and Samsung
who only won 1 each.
To have that may wins at T3 is nearly unheard of.... The only other The only other The only other The only other
manufacture to win 5 awards in one night was apple about 3 manufacture to win 5 awards in one night was apple about 3 manufacture to win 5 awards in one night was apple about 3 manufacture to win 5 awards in one night was apple about 3
years ago!years ago!years ago!years ago!
Source: Metro Newspaper
Circulation: 3.4 million
Date: 09/Oct/2012
“Many say the Transformer tablets are the iPad’s number one
challenger, while it’s Ultrabooks are beyond reproach. The
innovative, bold company is on a roll. Has ASUS’s time comeHas ASUS’s time comeHas ASUS’s time comeHas ASUS’s time come?” ?” ?” ?”
T3, Gadget Award 2012
Compete(Legacy)
G, N, K series
Win(Touch)
VivoBook
LeadTAICHI
ZENBOOK
Transformer Book
ASUS NB Windows 8 Strategy
ZENBOOK
TouchTAICHI
Transformer
Book
(NB) Hero Innovation · Wow Experience
VivoBook
S200
VivoBook
S300/S400
VivoBook
S500/S550
VivoBook
(NB) Hero Innovation · Wow Experience
(Tablet) Hero Innovation · Wow Experience
Mar Jun
ME172
Nexus 7
TF700T
ME301
Hero
Products
沉魚落雁之沉魚落雁之沉魚落雁之沉魚落雁之姿姿姿姿
出神入化出神入化出神入化出神入化之之之之技技技技
千千千千錘百練之錘百練之錘百練之錘百練之質質質質
怦怦怦怦然心動之價然心動之價然心動之價然心動之價
Micro SD Up to 32GB
Up to 9 Hours Battery Life Intel® Atom™ Z2420 1.2GHz
Fantastic Vivid 7” DisplayIPS panel, HD 1280 x 800
Auto Focus Rear Camera
720P Video Recording
Full 3G PhoneDual-Microphone for Noise suppression +
Echo cancelation
Meeting
Speaker
On the Go
HeadsetReceiver Bluetooth
Streamlined Metallic FinishMicro SD & SIM discretely hidden
(Fonepad) Hero Innovation · Wow Experience
(Smartphone) Leading Innovation
4.7” / 10” Panel1280 x 800 HD IPS1.2/13 MP Camera, F2.4
5” / 10” Panel1920 x 1080 FHD IPS2/13 MP Camera, F2.0Voice AgentMetal Craft
2012 WW ASUS Mobile PC Business
Source: IDC, Feb 2013
WW ASUS market share WW YOY Growth – ASUS vs. TAM
NO. 3 ASUS_GR% > TAM_GR%
ASUS NB Growth Momentum
China
North America South America
ASIA
Source: IDC, Feb 2013
Market share%
WW ASUS market share WW YOY Growth – ASUS vs. TAM
2012 WW ASUS Tablet Business
3X TAM GR%NO. 4
Source: IDC, Feb 2013
Tablet Ecosystem
2012 2013(e)
AppleSamsung
Amazon
Other
brandWhite
box
Apple
ASUS
Samsung
Amazon
Other
brand
Total TAM 126M Total TAM 203M
Source: Gartner, Q4 2012
White
box
2013 ASUS Goal
Smartphone Leading Innovation
2-in-1NB & Tablet
NO. 2
Touch NB NO. 1
The world’s most admired
leading enterprise in the
new digital era.
The world’s most admired
leading enterprise in the
new digital era.
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Thank you