ASUSTeK. 1Q 2011 Investor Conference

Transcription

1 ASUSTeK 1Q 2011 Investor Conference 1

2 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. 2

3 Agenda 1Q 2011 Financial Result Business Highlights Strategy & Outlook Q & A 3

4 1Q 2011 Financial Result 4

5 1Q 2011 Brand I/S (QoQ) (unaudited brand consolidated financials) in NT$ Mn Q % Q % QoQ Net Revenue 73, % 83, % -12% COGS & Royalty cost (62,437) (84.5%) (71,041) (84.9%) -12% Gross Profit 11, % 12, % -9% Operating Expenses (8,007) (10.8%) (8,790) (10.5%) -9% Operating Income 3, % 3, % -10% Non-OP Items % % -59% Pre-Tax Income 3, % 4, % -16% Tax (257) (0.3%) (366) (0.4%) -30% * EPS $ 5.54 based on 617m shares * Net Income 3, % 4, % -15% Pro-Forma Data Invest Income-Pegatron (104) % Recurring Income 3,525 3,686-4% 5

6 1Q 2011 Brand I/S (YoY) (unaudited brand consolidated financials) in NT$ Mn Q % Q % YoY Net Revenue 73, % 80, % -8% COGS & Royalty cost (62,437) (84.5%) (69,356) (86.6%) -10% Gross Profit 11, % 10, % 7% Operating Expenses (8,007) (10.8%) (7,300) (9.1%) 10% Operating Income 3, % 3, % 1% Non-OP Items % 2, % -90% Pre-Tax Income 3, % 5, % -35% Tax (257) (0.3%) (760) (0.9%) -66% Net Income 3, % 4, % -31% Pro-Forma Data Invest Income-Pegatron (104) 1, % Recurring Income 3,525 3,144 12% 6

7 1Q 2011 Non-OP Items (unaudited brand consolidated financials) Non-OP Items Q Q QoQ Q YoY Interest Income (net) % % Investment Income (258) % 1, % Pegatron (104) % 1, % Ask ey (32) (2) 1260% (80) -60% Others (122) % % Exchange Gain / (Loss) 337 (575) -159% % Other Income (net) % % Total Non-OP items % 2,278-90% 7

8 1Q 2011 Brand B/S in NT$ Mn Mar 31, 2011 Dec 31, 2010 QoQ Mar 31, 2010 YoY Cash & cash equivalents 42,571 41,395 3% 45,324-6% Accounts receivable 40,632 39,861 2% 32,259 26% Inventories 38,325 41,847-8% 44,389-14% Current Assets 137, ,411-2% 137,826-1% Long-term investments 47,798 44, ,900 Fixed assets 4,039 4,499 4,564 Other assets 1,399 1,445 2,878 Total Assets 190, ,781-0% 259,167-27% Accounts payable 39,915 44,572-10% 45,695-13% Current Liabilities 80,073 82,006-2% 79,619 1% Total Liabilities 83,668 84,738-1% 82,157 2% Paid-in capital 6,170 6,270 (0) 6,370 Stockholders' equity 106, ,044 1% 177,010-40% Days of Inventory Days of AR Days of AP CCC Days *CCC calculation based on ending balance and quarterly unaudited consolidated brand financials 8

9 Business Highlights 9

10 Product Mix 1Q Q 2010 Handheld 1% EPC 13% Others 11% MB & card 19% Handheld 1% EPC 15% Others 10% MB & card 16% NB 56% NB 58% 10

11 Region Mix 1Q Q 2010 Others 15% Others 15% EURP 37% EURP 51% APAC 48% APAC 34% 11

12 2Q 2011 Shipment Outlook Shipment 4Q Q Q 2011 Actual Actual Targets MB 5.6M 5.7M 5.7M NB 3.1M 2.8M 3.1M Eee PC 1.5M 1.3M 1.3M 12

13 Strategy & Outlook 13

14 ASUS VISION The world s most admired leading enterprise in the new digital era. 14

15 2011Q1 Business 3M Result Market Share Russia Panelmarket Worldwide Mobile PC Worldwide CONSUMER Mobile PC No. 3 No. 1 in Mar 11 Record high market share China Mobile PC No. 2 China Mobile PC Market Share 10Q1 10Q2 10Q3 10Q4 11Q1 Lenovo 29.8% 34.9% 33.0% 38.3% 29.6% ASUS 12.3% 12.3% 13.9% 12.5% 15.3% Dell 10.5% 11.2% 11.9% 8.4% 12.9% HP 15.6% 8.1% 9.9% 6.6% 10.4% Acer Group 6.4% 7.3% 8.4% 10.5% 8.4% Source: ASUS/IDC Preliminary Top 10, Apr, 2011 & GfK, Apr APAC excl. Japan Mobile PC Market Share 09Q2 09Q3 09Q4 10Q1 10Q2 10Q3 10Q4 11Q1 Lenovo 20.1% 21.2% 22.7% 19.5% 23.0% 22.6% 24.2% 19.6% Acer Group 14.0% 13.3% 12.9% 13.8% 13.5% 14.5% 15.6% 14.5% HP 21.2% 22.7% 19.9% 16.7% 13.4% 13.2% 12.1% 12.5% Dell 9.5% 9.1% 9.5% 10.4% 11.2% 11.6% 9.6% 12.2% ASUS 7.6% 9.8% 9.1% 9.8% 9.9% 10.9% 10.2% 11.9% 15

16 2011Q1 Business 3M Result Margin Share 16

17 ASUS Growth Strategy MB Giant Lion Giant Lion King Mobile PC (NB & Eee PC) 33 Plan Eee Pad Leading in Open Market 17

18 MB (Giant Lion Giant Lion King) Maximize Q(q, v/c, s) to highest level of excellence Position Market share in high end SKU: Sandy Bridge high end motherboards take over 50% market share worldwide Award winning: ASUS P8 series motherboards won over 200 media awards since launch in January Gap : 650K Q ty Gap : 170K Gap : 300K Gap : 450K SNB high end MB Market Share ASUS 2 nd brand Jan 10 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 11 Feb Mar 18

19 Mobile PC (NB & Eee PC) 33 Plan & execution Goal: Market share #3 & Mind share #3 Start with people See through end-customers need Solve customers pain point By Design thinking & Quality thinking 設計力 By product In search of incredible Q(q, v/c, s) Pursue incredible innovation, cost, quality and speed 技術力 Empathy Sensitivity Observation 管理力 By channel BRIC & MI channel focus Commercial business focus NA business breakthrough 19

20 Eee Pad (Leading in Open Market) Eee Pad Transformer - Leading in Android (Honeycomb) market Camera (5MP + 1.2MP) Best multimedia experience (IPS panel, Full HD, mini HDMI, SRS) Rich connectivity experience charging Worry-free Battery life experience (8+8 hrs) IPS Panel Q2 > 300K ASUS content (ASUS cloud & MyNet) Application store (Android market) 20

21 Eee Pad (Leading in Open Market) Eee Slate (EP 121) - Leading in Windows 7 market Best selling Windows based Pad solution Best choice for commercial users & power users 21

22 Eee Pad (Leading in Open Market) Source: Amazon.com, Apr. 27,

23 Eee Pad (Leading in Android Market) the Honeycomb tablet to get.. The low price point alone is enough to make the Eee Pad worth considering if you want an Android tablet, but surprisingly enough ASUS didn't sacrifice much in the way of quality to hit it The feel is what's most surprising about the Eee Pad. Despite not spending a ton on materials, ASUS managed to build a very comfortable to hold and use tablet The Eee Pad is comfortable to hold and use and despite the lower price point you don't feel like ASUS has sacrificed much at all to make it. The display has similar characteristics to what Apple ships in the ipad 2 ASUS delivered three things with the Eee Pad: a very competitive price point ($399), a surprisingly useful (albeit pricey) dock, and a good display. The price point alone is enough to make the Eee Pad the Honeycomb tablet to get 23

24 Eee Pad (Leading in Android Market) the Eee Pad Transformer impresses us most so far The Eee Pad Transformer looks like it could be a fancy new netbook from ASUS. It has a brown metallic finish that's classy yet understated. Both the lid and the underside have a Qbert-like pattern that's interesting to look at up close, and it also resists fingerprints. The textured pattern on the lid felt comfortable to hold Of all of these new entrants, the Eee Pad Transformer impresses us most so far and not just because of its low price tag. The 10-inch slate is lighter than competing Honeycomb tablets, features an IPS screen for wider viewing angles, and plugs into an optional keyboard dock that adds more battery life. It s this kind of combo that could prove a hit with the back-to-school crowd, as well as mobile professionals who want to take notes in meetings. The dock adds a reasonable $149 to that rock-bottom $399 price. 24

25 Eee Pad (Leading in Android Market) the best Android slate we ve seen The Asus Eee Pad Transformer TF101 marks the first Android tablet we ve seen to get almost everything right: speedy performance, a competitive price, and plenty of useful features. Factor in the optional keyboard dock, and you ve got a product that is poised set a new standard for Android tablets Speed, features, Honeycomb, and a relatively low price all combine to make the Transformer an excellent tablet. It s the best Android slate we ve seen so far. 25

26 Eee Pad (Leading in Android Market) the best Android Honeycomb tablet... The Transformer is the tablet Android fans deserve. I m disappointed I have to send my review unit back to the folks at Asus. Before, whenever anyone asked me which tablet they should buy, my answer was always The ipad 2. Now, I can confidently recommend another extremely capable alternative. If you are in the market for a tablet, you owe it to yourself to look at the Transformer Where the Xoom fell short, the Transformer excels, and easily takes the throne as the best Android Honeycomb tablet on the market. It s quick, responsive, multitasks with aplomb, and looks good while doing it. 26

27 Thank You 27