Synex Oppday Q2/55 20120830
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Synex Oppday Q2/55 20120830 Presentation Transcript

  • 1. Synnex Thailand PCL Opportunity Day Aug 2012
  • 2. US$27 billions Global Distributors2011 Operating History & Current Position.... Taiwan 1975 No.1 USA 1992 No.3 HK / China 1997 No.2 Australia (New Zealand) 1998 No.2 Thailand 1999 No.1 India 2005 No.2 Middle East/Africa 2005 No.1 Turkey 2010 No.2Across 30 countries, 184 offices SYNNEX APAC Group : Taiwan (HQ), HK, China, Australia, NZ, Thailand Redington Group : India, Srilanka, Middle East, Africa, Turkey SYNNEX USA Group : Canada, USA, Mexico
  • 3. Synnex Thailand:Another Major Milestone in 2011 Over 20,000 millions in 2011 Over 10,000 millions in 2007
  • 4. H1 2012 Sales Revenue H1 Revenue 10,597,769,00010,600,000,00010,400,000,000 +7.60%10,200,000,00010,000,000,000 9,850,739,000 H1 Revenue 9,800,000,000 9,600,000,000 9,400,000,000 Y2012 Y2011
  • 5. H1 2012 Top 10 categories’ revenue Top 10 categories : H1 2012 6,782,866,390 6,800,000,000 +17.73% 6,600,000,000 6,400,000,000 6,200,000,000 5,761,578,821 Top 10 6,000,000,000 5,800,000,000 5,600,000,000 5,400,000,000 5,200,000,000 Y2012 Y2011
  • 6. Preliminary Worldwide PC Vendor Unit Shipment Estimates for 2Q12 (Units)Table 1: Preliminary Worldwide PC Vendor Unit Shipment Estimates for 2Q12(Units) Company 2Q12 2Q12 2Q11 2Q11 Market 2Q12- Shipments Market Shipments Share (%) 2Q11 Share (%) Growth (%)HP 13,036,548 14.9 14,838,734 16.9 - 12.1Lenovo 12,820,301 14.7 11,160,303 12.7 14.9Acer 9,646,383 11.0 9,315,341 10.6 3.6Dell 9,349,212 10.7 10,570,007 12.1 - 11.5ASUS 6,120,957 7.0 4,416,125 5 38.6Others 36,495,872 41.7 37,256,607 42.6 - 2.0Total 87,469,273 100.0 87,557,116 100 - 0.1Note: Data includes desk-based PCs and mobile PCs, including mini-notebooks but not media tabletssuch as the iPad.Source: Gartner (July 2012)
  • 7. 2Q 2012 Media Tablet shipmentsTop 5 Vendors, Worldwide Media Tablet Shipments, Second Quarter2012 (Preliminary) (Unit Shipments are in thousands) Vendor 2Q12 Market 2Q11 Market YoY Shipments Share Shipments Share2 Growth1. Apple 17,042 68.2% 9,248 61.5% 84.3%2. Samsung 2,391 9.6% 1,099 7.3% 117.6%3. Amazon 1,252 5.0%4. ASUS 855 3.4% 397 2.6% 115.5%5. Acer 385 1.5% 629 4.2% -38.7%Others 3,067 12.3% 3,668 24.4% -16.4%All Vendors 24,994 100.0% 15,042 100.0% 66.2% Source: IDC Worldwide Quarterly Media Tablet Tracker, August 2, 2012.
  • 8. Worldwide Sales of Media Tablets to End Users by OS Table 1: Worldwide Sales of Media Tablets to End Users by OS (Thousands of Units) OS 2011 2012 2013 2016 iOS 39,998 72,988 99,553 169,652 Android 17,292 37,878 61,684 137,657 Microsoft - 4,863 14,547 43,648 QNX 807 2,643 6,036 17,836 Others 1,919 510 637 464 Total Market 60,017 118,883 182,457 369,258 Source: Gartner (April 2012)
  • 9. Top Smartphone Operating Systems, Shipments, and Market Share Top Smartphone Operating Systems, Shipments, and Market Share, Q2 2012 (Units in Millions)Operating Q2 2012 Q2 2012 Q2 2011 Q2 2011 YoYSystem Shipments Market Share Shipments Market Share ChangeAndroid 104.8 68.1% 50.8 46.9% 107%iOS 26.0 16.9% 20.4 18.8% 28%BlackBerry OS 7.4 4.8% 12.5 11.5% -41%Symbian 6.8 4.4% 18.3 16.9% -63%Windows Phone 5.4 3.5% 2.5 2.3% 115%Linux 3.5 2.3% 3.3 3.0% 6%Others 0.1 0.1% 0.6 0.5% -80%Grand Total 154.0 100.0% 108.3 100.0% 42% Notes: Smartphone OS shipments are branded shipments and exclude OEM sales for all vendors. Unbranded phones, also referred to as "White Phones", are included. Source: IDC Worldwide Mobile Phone Tracker, August 8, 2012
  • 10. PRODUCTS TREND
  • 11. Microsoft Windows 8
  • 12. Microsoft Surface
  • 13. Ultrabook – Slim and Powerful
  • 14. All In One Desktop PCWith & Without Touch Panel
  • 15. Media Tablets +
  • 16. Smarter Smartphones
  • 17. Video Conference: Work Anywhere
  • 18. IDC: Top 10 key ICT predictions in 2012 for Thailand 1. Sustained spending in Thailand’s ICT industry 2. Mobile Data Services to lead Telecommunication spending 3. Consumerization: The New World Order 4. Clear skies ahead for Cloud Computing 5. Knock the door please – May FTTx come in? 6. Battle between smart devices and PCs continues in 2012 7. Providers will actively expand Wi-Fi services for 3G offload 8. Business Continuity and Disaster Recovery 9. Customer Centricity – Beyond Traditional CRM 10. Growing demand for big data analytics
  • 19. 1. Sustained spending in Thailand’s ICTindustry• IDC expects the total ICT spending in 2012 to post a YoY increase of 10.4%, reaching close to US$16.8 billion6. Battle between smart devices andPCs continues in 2012• IDC forecasts that the shipment of smart devices in 2012 will be 6.7 million units compared to only 4.1 million PC units
  • 20. Internet in Thailand updated : 3G, FTTH• A 3G UMTS/HSDPA network was launched in Bangkok and its vicinity in December 2009 with speed up to 7.2 Mbit/s on the 2100 MHz band.• In the late 2011, TOT released 3G on HSPA+ technology covering all areas in Bangkok with the speed of up to 42 Mbit/s.• Major mobile network operators in Thailand also have released their 3G services on the 850 MHz and 900 MHz bands• These networks are scheduled to be switched to HSPA+ in the middle of 2012• There are initiatives to offer mainstream FTTH (Fiber to the Home) providing bandwidth of up to 100 Mbit/s From Wikipedia, the free encyclopedia
  • 21. FINANCIALHIGHLIGHTSOpportunity Day Q2/2012 30 August 2012
  • 22. OverVIEW q2/12 and h1/12• IT Market is doomed to slow growth and is expected to grow by 0-2%• Synnex posts 3.31% YoY sales growth for Q2/2012 and 7.58% for 1H/2012• The net profit margin of Q2/2012 was 1.46% and 1.53% for H1/12• The increase in SG&A expenses was due to personnel expenses and operating expenses but they were under control.• Inventories rise higher and customers are paying more slowly.
  • 23. Income statement (YOY) Unit: Million Baht Unit : MB. Q2/11 Q2/12 YoYSales 5,297.1 5,472.4 3.31%Cost of sales 5,003.2 5,205.4 4.04%Gross Profit 293.9 267.0 -9.14%SG&A 141.8 151.5 6.86%EBIT 156.4 121.3 -22.40%Financial Cost 14.2 16.4 15.89%Net Profit 107.6 80.1 -25.54%EPS (Baht/Share) 0.16 0.12 -25.00%
  • 24. Income statement (h1) Unit: Million Baht Unit : MB. H1/10 H1/11 H1/12 YoYSales 7,504.2 9,850.7 10,597.8 7.58%Cost of sales 7,083.2 9,269.4 10,077.9 8.72%Gross Profit 420.9 581.4 519.9 -10.58%SG&A 256.8 282.9 309.6 9.43%EBIT 199.3 313.7 242.3 -22.75%Financial Cost 14.6 24.0 27.2 13.50%Net Profit 133.9 216.1 162.6 -24.75%EPS (Baht/Share) 0.20 0.32 0.24 -25.00%
  • 25. Key ratioKEY RATIO Ratio H1/10 H1/11 H1/12Gross Profit Margin (%) 5.61% 5.90% 4.91%SG&A (%) 3.42% 2.87% 2.92%EBIT (%) 2.66% 3.18% 2.29%Financial Cost (%) 0.19% 0.24% 0.26%Net Profit Margin (%) 1.78% 2.19% 1.53%Return on Assets (ROA) (%) 9.45% 10.98% 8.72%Return on Equity (ROE) (%) 18.95% 24.65% 19.84%Return on Invested Capital (ROIC)(times) 19.68% 25.33% 19.66%
  • 26. quarterly REVENUE AND PROFIT Million Baht Unit: 7,000 200 180 6,000 160TOTAL REVENUE (MB) 5,000 140 120 4,000 100 3,000 80 2,000 60 40 1,000 20 - - Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Total Revenue 3,05 3,47 3,92 3,03 3,77 3,76 4,23 3,88 4,56 5,30 5,95 4,44 5,15 5,47 Net Profit 33 62 74 34 72 62 86 51 108 108 87 67 82 80
  • 27. CAPITAL STRUCTURE AND LEVERAGE 7.0 18 16 6.0 14 5.0 12 4.0 10 3.0 8 6 2.0 4 1.0 2 - - Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q112 Q212Total Debt to Equity (times) 1.85 2.03 2.08 1.66 2.07 2.50 2.37 1.65 1.98 2.46Interest Coverage (times) 16.35 11.54 16.48 8.58 16.00 11.04 9.14 9.30 11.18 8.90
  • 28. H1/2012 - ASSET Unit: Million Baht H1/10 H1/11 H1/12 Cash 160 86 106 Accounts Receivable 2,169 2,964 3,185 A/R Days 43 50 48 Inventories 1,188 1,642 1,948 Inventory Days 23 31 33 Others 122 268 380Total Current Asset 3,639 4,960 5,619Total Non-Current Asset 392 406 364Total Asset 4,031 5,366 5,983
  • 29. H1/2012 - liabilities Unit: Million Baht H1/10 H1/11 H1/12Current Liabilities Bank Loan 1,293 1,882 1,612 Loan/Equity 0.97 1.23 0.93 Accounts Payable 1,128 1,682 2,253 A/P Days 20 27 31 Others 147 232 204Total Current Liabilities 2,568 3,796 4,070 LT Loan 110 - 145 Other 20 37 39Total Non-Current 130 37 185LiabilitiesTotal Liabilities 2,699 3,833 4,255
  • 30. H1/2012 - equity Unit: Million Baht H1/10 H1/11 H1/12Shareholders’ Equity Paid-up Share Capital 688 691 697 Share Premium 326 334 339 Retained Earning 317 507 692Total Shareholders’ 1,331 1,532 1,728EquityTotal Liabilities and 4,031 5,366 5,983Equity
  • 31. Outlook for H2/2012- Smartphone and 3G Trends- Growth driven by Windows 8- New product launching
  • 32. Outlook for H2/2012- Expansion IT Business in Republic of the Union of Myanmar- Efficiency in negotiating with vendors on Sales target, profit and inventory- Cost saving
  • 33. CORPORATE SOCIAL RESPONSIBILITY • โครงการ “กิกเก่ าพี่ ๊ แต่ กิกใหม่ หนู” ๊
  • 34. Corporate social responsibility ิ ิ ้ซนเน็ คฯ ได ้เข ้าชงรางวัล CSR Awards 3 ปี ซอน
  • 35. CORPORATE SOCIAL RESPONSIBILITY ่ ิ• รางวัลต่างๆ ทีซนเน็ คฯได ้รับ
  • 36. Questions & answers
  • 37. Thank you INVESTOR RELATIONS: EMAIL: IR@SYNNEX.CO.THFOR FURTHER INFORMATION AND CURRENT NEWS: WWW.SYNNEX.CO.TH/INVESTOR