Leading Digital Video Surveillance Manufacture July-September 2010
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GeoVision Quarterly UpdatesMore than 8,804,358 DVR channels and 25,214 Megapixel
IP cameras sold to date....and still counting!"
GeoVision Quarterly UpdatesMore than 8,804,358 DVR channels and 25,214 Megapixel
IP cameras sold to date....and still counting!"
Leading Digital Video Surveillance Manufacture
July-September 2010
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About GeoVisionAbout GeoVision Digital video surveillance company Founded in Feb.1998 by George Tai Listed on TWSE since March 2005 (Code: 3356; Ticker: GeoVision) Capital : TWD$481 M Market Cap: USD$154.1mn (As of Sept. 2010)≒ Number of employees: 282 (208 in HQ)* 5 subsidiaries in Brazil, China, Czech Republic, Japan, the USA Product Lines:
– Hybrid DVR/ NVR– DVR Systems (PC-Based) – Compact DVRs (Standalone Type)– Network Video Solutions (IP Cameras, Video Servers)– Video Integration Solutions (CMS, POS/ATM, GIS, LPR/ANPR, Access Control)
Business Summary:Since its establishment, GeoVision has focused on R&D and manufacturing of video surveillance products and solutions. GeoVision is a leader in the sector of hybrid video surveillance and offers comprehensive support for network video products.
* June 30, 2010
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Video Integration Solutions
License Plate Recognition
Central Monitoring Station
Access Control
Mega-Pixel IP Camera Video Analytics
POS/ ATM/ EAS
GIS
GeoVision Video Surveillance System
3G Mobile Monitoring
Center V2 Demo
Control Center
E-Map Demo
Toll Booth Demo
POS Demo
GIS Demo
IP Cam PIP
LPR Demo
Access Ctrl Demo
3G Mobile Demo
IP Cam PnP
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Free bundled 32-channel GV-NVR Free bundled 32-channel GV-NVR
5
DVR ProductsDVR Products
Hardware Compression Card
Combo Cards
Video Capture Cards
GV-Video Capture Card
GV-Hot Swap DVR
GV-Mini DVR
GV-Storage
GV-Systems (PC-based)
GV-DVR/ Hybrid DVR 32CH
GV-Compact DVR (Linux)
Standard Model
Anti-Vibration Model
Mobile Solution
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IP ProductsIP Products
1.3M H.264
1.3M Vandal Proof
H.264 IP Speed Dome
GV-IP Camera
1.3M H.264 Fisheye
1.3M H.264 PTZ
1.3M H.264 Low Lux
GV-IP Camera (Coming Soon)
2M H.264/ 3M H.264
GV-Video Server
H.264 2CH
MPEG4 2CH/ 4CH
NVR Lite
GV-NVR
V8.3 NVR 32Ch
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GV-1.3M H.264 Fisheye IP CameraGV-1.3M H.264 Fisheye IP Camera
• Replace four or more conventional cameras with just one fisheye IP camera• 1.3M progressive scan CMOS • H.264, MPEG 4 and MJPEG • Provides 360 and 180 degrees panorama view • Playback from any view angle and zoom level • Virtual PTZ function • Auto Pan function Privacy mask • Visual automation • Tampering alarm • 16 languages on web interface
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Smart Video AnalyticsSmart Video Analytics
Panorama View
Object TrackingFace Detection Crowd Detection
Vehicle Counting
People Counting
GV-Web Report
Video StabilizationSmart Search
Object DetectionObject Detection
Video Enhancer
PTZ Visual ZoomControl
Tampering AlarmVisual Automation
Single PTZ Tracking
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Digital
Product Road Map
2004 2005 2006
GV-NVRIP S/W
2007 2008
DSP LPR
Compact 4-Ch1.3 Mega IP Cam
Smart Video Analytics:Face Detection,
Panorama View, DefogVideo Stabilization,Crowd Detection
Single PTZ Tracking
Hybrid Solutions
Access Control
IR Cam
VistaSupport
POS/ATM DVR
TV Wall Solution
PDA/ Smart Phone/ 3G Remote Live View; WebCam MultiView; Email / SMS alerts
License Plate Recognition, LPR+DVR, LPR Center
Central Monitoring Station: Center V2 Pro,VSM,Dispatch Server,Control Center
Geo MPEG4, Geo MPEG4 (ASP), MPEG-4 (ASP), MPEG-2, Geo H264,
Intelligent Video Content Analysis
480 fps Video Card; DVR System; Hardware Compression Card
CMSGIS/GPS Support
MPEG4/ MJPEG Video Server
Blackberry
Support
2009
Geo H264 V2
2010
H.2641.3M IP/ PTZH.264 Speed Dome H.264 Fisheye Cam,H.264 Video Server
GV-iViewfor
iPhoneiPod
Touch
32 CH
GV-Web Report;
Gender/ Age Detection
32CHMultiView
VideoAnalytics
Integra-tion
Remote Network
H.264 Full HD IP
SmartBox
Compact8-CH
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Revenues by QuarterRevenues by Quarter
382
412 408
342318 311 309
319301
331 338
0
50
100
150
200
250
300
350
400
450N
T$m
n
-30.0%
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Sales QoQ (%) YoY (%)
2010Q3 salesNT$338mn
QoQ 2%YoY 9%
*The Q3’10 result is un-audited.
11
Gross Margins, OP Margins and EBT
Gross Margins, OP Margins and EBT
Annual Results
65%68%68%67%67%
33%38%41%
47% 48%
50%49%
32%
43%38%
0%
15%
30%
45%
60%
75%
Gross Margin OP Margin EBT Margin
Quarterly Results
69% 67% 65% 68% 65% 65%64%
40%36% 36%
39%
33% 34%
32%
42%
35% 37%
38%
27% 28%
41%
0%
15%
30%
45%
60%
75%
*The Q1~Q3’10 result is un-audited. *The Q3’10 result is un-audited.
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Operating ExpensesOperating Expenses
32%
31%32%
30%
29%
32%
29%
0
10
20
30
40
50
60
Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10
25.0%
27.0%
29.0%
31.0%
33.0%
35.0%
37.0%
39.0%
Sales & Mkt Administration R&D Expense %
NT$MN
93 98 91 97 10497
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Earnings & EPSEarnings & EPS
113
93
139
127
7894
2.63
1.63
1.95
2.88
2.351.94
30
50
70
90
110
130
150
Q3'09 Q2'10 Q3'10
1
1.5
2
2.5
3
3.5
4
Income before Tax (NT$mn)Net Income (NT$mn)EPS (NT$)Pre-tax EPS (NT$)
NT$mn NT$NT$mn NT$
358
314
288 272
5.985.66
6.53
7.44
0
50
100
150
200
250
300
350
400
2009 Q1~Q3 2010 Q1~Q3
2
5
8
Income before Tax (NT$mn)Net Income (NT$mn)EPS (NT$)Pre-tax EPS (NT$)
’10Q3 Non-Operating Profit:NT$29.2mn
14
Sales in the ProductsSales in the Products
59%
69%
12%
20%
9%10%
5% 4%
5% 6%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Q1-Q3 2010 Q1-Q3 2009
Others
Applications (Access Control/ CMS/LPR/ POS)
DVR Systems &Compact DVRs
IP Products
GV-Cards
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Sales in the RegionsSales in the RegionsQuarterly
0
100
200
300
400
500
600
2010 Q2 2010 Q3
Taiwan
Oceanic,AfricaAsia (incld.Jpn)Europe
America
Annually
0
200
400
600
800
1000
1200
2010 Q1~Q3
48%
31%
15%
3%2%
NT$MN NT$MN
49%
31%
15%3%2%
49%
30%
16%3%2%
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2010Q1~Q3
%2010
Q3% QoQ % YoY %
Net Sales 969,703 100 337,679 100 2 9
Gross Profit 631,502 65 216,350 64 0 8
Operating Profit 323,195 33 109,335 32 (3) 0
Income before Tax 314,051 32 138,577 41 49 23
Net Profit 272,153 28 126,705 38 61 35
Pre-tax EPS (NT$) 6.53 2.88
EPS (NT$) 5.66 2.63
(Unit : NT$K)
Income Statements
(Unit : NT$K)
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ReferencesReferences
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AnalogAnalogCameraCamera+DVR+DVR
Video Surveillance TransitionVideo Surveillance Transition
Network Network VideoVideoSolutionsSolutions
Analog Analog Camera Camera +VCR+VCR
Analog+DigitalAnalog+DigitalHybrid DVRHybrid DVR
Analog SignalsAnalog Signals Digital SignalsDigital Signals
1990 2005 2007
LAN / WAN / Wireless
LAN / WAN /
Wireless
PC-Based CMS Server
PC-Based DVR
Analog VCR
2010
Video ServerLAN / WAN /
Wireless
CMS Server
NVR
IP CamGeoVision Solution
Standalone DVR
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World Market for Video SurveillanceWorld Market for Video Surveillance
Source: IMS Research 2008 Edition
The World Market for Video Surveillance Euqipment
4,317
8,5368,118
7,212 7,676
5,811
2,292 3,162
2009 2010 2011 2012
US
D$
M
Network Video Surveillance (incl. IP cameras, IP software, NVRs)Digital Video Surveillance (incl. analogue cameras)
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World Market for DVRs by ProductsWorld Market for DVRs by Products
1,8682,064
2,3002,553
2,805
658
674
707
738
767
140
159
180
201
224
0
500
1000
1500
2000
2500
3000
3500
4000
'08 '09 '10 '11 '12
DVR Cards
PC-BasedDVR
EmbeddedDVR
USD$Mn’08 GV-Cards Market Share
Otherbrands
74%
GV-Cards26%
'09 GV-Cards Market Share
GV-Cards16%
OtherBrands
84%
DVR Cards CAGR 13.0%
‘07-’12 DVR Total CAGR 9.6%
Source: IMS Research-The World Market for CCTV and Video Surveillance Equipment 2008 Edition
Source: Company Info
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World Market for DVRs by ProductsWorld Market for DVRs by Products
2,4242,598
2,8073,015
3,216
242
299
380
477
580
0
500
1000
1500
2000
2500
3000
3500
4000
'08 '09 '10 '11 '12
Hybrid DVR(analog &digital inputs)
Standard DVR
Hybrid DVR CAGR
25.3%
Standard DVR CAGR 7.7%
GV-Hybrid DVR Market Share (Incld. GV-Cards & GV-Systems)
90.5%
83.0%
9.5%
17.0%
0
50
100
150
200
250
300
350
'08 '09
GV-Hybrid DVR
Other Brandsof Hybrid DVR
USD$ MN
USD$ MN
Source: IMS Research-The World Market for CCTV and Video Surveillance Equipment 2008 Edition
Source: Company Info
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World Market for Megapixel CamerasWorld Market for Megapixel Cameras1-1.99 Megapixel IP Cameras
Shipments
109
193
343
579
902
0
100
200
300
400
500
600
700
800
900
1000
'08 '09 '10 '11 '12
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1-1.99 Mega CAGR
GV-Megapixel IP CamerasShipments Market Share
96.5%96.8%
3.5%3.2%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
'08 '09
GV-MegapixelIP Cams
Other BrandsIP Cams
%
Unit Shipments (000s)
Source: IMS Research-The World Market for CCTV and Video Surveillance Equipment 2008 Edition
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World Market for DVRs vs. IP Cameras World Market for DVRs vs. IP Cameras
DVRs(Hybrid & Standard)
2,8033,423
4,113
130
181
246
4,862
323
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
'08 '09 '10 '11 '12
Standard DVR- analog Hybrid DVR- analog+digital
’07-’12 DVRs Shipments
CAGR 22.2%
IP Cameras(Megapixel & Non-Megapixel )
353
628
1,093
1,789
1,879
2,503
3,3174,369
0
1000
2000
3000
4000
5000
6000
7000
'08 '09 '10 '11 '12
MegapixelResolution
StandardResolution
Unit Shipments (000s)Unit Shipments (000s)
Source: IMS Research-The World Market for CCTV and Video Surveillance Equipment 2008 Edition
’07-’12 IP Cameras
Shipments CAGR 38.7%
2010 ASPMega: $728Standard: $387
2010 ASPHybrid: $2,104Standard: $820
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Market Share for IP Cameras & DVRs Market Share for IP Cameras & DVRs
Axis, 33.5%
Sony,10.4%
Panasonic(PCC), 8.4%
Mobotix,7.3%
PanasonicSystem,
5.4%
D-Link,5.3%
BoschSecurity,
3.6%
Vivotek,3.1%
ACTi, 2.5%
DVTel, 2.0%
Others,18.5%
0% 10% 20% 30% 40%
Nice,15.8%
Pelco,11.1%
Verint,7.4%
Mitsubishi, 6.3%
Tyco,5.5%
Toshiba,5.4%
Honeywell, 4.8%
Geutebruech, 4.4%
Hikvision,3.6%
Vicon ,3.9%
Others,31.9%
0% 10% 20% 30% 40%
Source: IMS Research 2008
2007 IP Cameras Revenues: USD$547.9mn 2007 Enterprise DVRs Revenues: USD$285.5mn
25
The Best ROE among Top 50The Best ROE among Top 50
ROE Ranking exclusive of Industry Average ROE
32112
18
38.96%39.72%
41.58%
0
5
10
15
20
GeoVision-奇偶 HTC-宏達電 MediaTek-聯發科
37.00%
38.00%
39.00%
40.00%
41.00%
42.00%
ROE ranking Market Cap Ranking ROE%
ROE Rank exclusinve of Market Average ROE
213
12
18 46.61%
41.24%40.74%
0
5
10
15
20
GeoVision-奇偶 HTC-宏達電 MediaTek-聯發科
36.00%
40.00%
44.00%
48.00%
ROE ranking Market Cap Ranking ROE%
• GeoVision is ranked No.1 by Global View Magazine in the “Taiwan’s 50 Best CEOs” survey, based on the annual average ROE performance of all Taiwan listed companies during their current CEOs’ terms. Source: Global View Magazine, ※ 遠見雜誌 , 2010.05
Rank RankROE% ROE%
26
Sales Channels & End-UsersSales Channels & End-Users
GeoVision Inc.
System Integrators Distributors Installers
System Integrators Installers
Government(Italy) Prime Minister Building; (Iran) Defense Ministry
Business(Japan) Osaka Shopping Center
Transportation(UK) Double Deck Bus; (Germany) Munich Airport Parking
Healthcare(USA) Harvard Medical Center;UCLA Medical Center
Education(HK) Univ. of Hong Kong
Retail(USA) Hooters / Macy’s / 7-11 / Albertsons/ MacDonald
Gaming(USA) Flamingo Casino(Japan) Pachinko
Banking(France) Banque de France(Morocco) Brink’s
27
Video Surveillance PlayersVideo Surveillance Players
PC Based DVR
NVR
Standalone DVR
ProvideoProvideo
IP Cam
IP Storage
IP Software
28
Chairman & CEOGeorge Tai
General Manager & COORoger Lin
USA Vision Systems Inc.
GeoVision Japan Inc.
Shanghai GeoVision System Co., Ltd.
Europe Vision Systems s.r.o.
GeoVision Brail Ltd.
OrganizationOrganization
Oversea Subsidiaries
R&DTechnical Support
SalesProduct & Marketing
Administra-tion
Operation & Logistics
Number of Employees: 282(As of April 1, 2010)
Support, 7,3%
RD, 109, 52%
Sales, 32,15%
Admin+Operating, 63,
30%
29
Honors & AwardsHonors & Awards
Y2000
Y2001Y2002
Y2004
Y2005Y2006Y2007
Y2008
TaiwanTaiwanPatentPatentUSAUSA
PatentPatent
Frost & Sullivan – Frost & Sullivan – Digital Video MonitoringDigital Video Monitoring
Deloitte Deloitte Fast 500Fast 500
Deloitte Deloitte Fast 500Fast 500
Mini DVRMini DVR Combo DVRCombo DVR
SME-Rising SME-Rising Star AwardStar Award
Taiwan Taiwan EnterpriseEnterprise
Y2009
2009 17th Award for Industrial 2009 17th Award for Industrial Technology Advancement - Technology Advancement - Outstanding Innovation Award Outstanding Innovation Award
2009 18th National Award of 2009 18th National Award of Outstanding Small and Outstanding Small and Medium Enterprises Medium Enterprises