SYNNEX (THAILAND) PCL.
Transcript of SYNNEX (THAILAND) PCL.
SYNNEX (THAILAND) PCL.
OPPORTUNITY DAY | Q2-20196 September 2019
Established 5 April 1988
No. of Employees 837 persons (as of December 2018)
Paid-Up Capital* THB 847.36 million, par value THB 1.00
Symbol SYNEX (listed 16 June, 2008)
World’s Leading IT Distributor Know-How
Best IT, Supply Chain & Service Company
Largest IT Distributor in Thailand
IT & Financial Complete Service for Strategic Partners &
Customers
Broad Product Portfolio with 7 Product Groups
with over 60 World-Recognized Brands
Number One IT Distributor in Thailand
60+ World Class
Brands
5,000+Dealers
19+Million Units Sales/year
COMPANY OVERVIEW
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5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
16
52
10
5
14
2
20
8
39
1
69
2
74
3
98
5
1,5
50
2,0
07
2,9
00
4,2
14
6,8
00
8,9
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9,0
25
9,4
00
11,0
00
11,4
89
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,42
7
15
,60
0
20
,23
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20
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6
18
,75
7
19
,09
2
21
,51
4
23
,82
3
32,4
26
38
,19
6
TOTAL REVENUE
Y1990 – 1H2019 Milestone
NetProfit
303MB
Gross
Profit
733MB
Sales
Revenue
17,431MB
1H2019
Growth (YoY)
-5.75%Growth (YoY)
-12.30%Growth (YoY)
-18.36%
Unit: Million Baht
4 Peripheral &
Accessory
5 Commercial
& Cloud
6 Smart Device
& IoT
7 Service &
Maintenance
Products distributed by Synnex (Thailand) can be
categorized into 7 groups
1 Mobile Phone
& Tablet
2 Personal
Computer
3 PC
Component
PRODUCT GROUPS
Multi-category & Multi-field
OVER 60 WORLD RECOGNIZED BRANDS
DISTRIBUTION CHANNELS
More Than 6,000 Distribution Channels
Countrywide and Indochina Region
IT CHANNEL
ONLINE CHANNEL MODERN TRADE CHANNEL
PHONE CHANNEL
DEARLER PORTAL
FULL-SERVICE DISTRIBUTOR
FULL RANGE OF SERVICES
E-Commerce
DEARLER PORTAL
Warehouse
Management ServicesDelivery Services Financial Services Total Service Solution
Implementing the Automated
Storage and Retrieval System
(ASRS) since 2007
More than 4,600 pallets storage
capacity
Total office & warehouse area +/-
30,000 m².
Fast 1-3 hours delivery service
Half day delivery service in
Bangkok area
Next day delivery service in
upcountry area
Installment program
Leasing / Loan
Trade & project backup finance
program
Bid bond program
Pre-sales services
Post-sales Services
On-site Services
by certified technical engineers
and supports specialists
After-sales Services
Synnex Care 1251
Nationwide Service Centers
• 24-hour web ordering
• Seasonal promotion
• Online customer support
FINANCIAL HIGHLIGHT
1H19 1H18 %YoY
Total Revenue 17,431 18,496 -5.75%
COGS (16,713) (17,682) -5.48%
GP 733 836 -12.30%
%GP 4.20% 4.52% -6.95%
Other Income 30 17 78.05%
OPEX (414) (422) -1.89%
%OPEX 2.38% 2.28% 4.10%
EBIT 348 430 -19.05%
%EBIT 2.00% 2.32% -14.11%
EBT 310 404 -23.19%
Tax (73) (89) -18.05%
Norm. Profit 237 314 -24.65%
FX gain (loss) 52 50 4.65%
Share of profit from investment
in associates 14 6 109.13%
NP 303 371 -18.36%
%NP 1.74% 2.01% -13.37%
CASH CYCLE
2,848 3,025 4,117
4,859
6,4485,862
50 50 5548 49 51
1
11
21
31
41
51
2014 2015 2016 2017 2018 1H2019-200
800
1,800
2,800
3,800
4,800
5,800
6,800
7,800
AR AR Days
1,402 1,277 2,018
1,649
3,037
2,172
30
2426
19
2428
0
5
10
15
20
25
30
35
2014 2015 2016 2017 2018 1H2019
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500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
AP AP Days
1,948 1,539
2,092 2,546
3,498 3,331
3331
2927
30
37
0
5
10
15
20
25
30
35
40
2014 2015 2016 2017 2018 1H2019
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Inventory Inventory Days
50 5055
48 49 51
3024 26
1924
2833 31 29 27
30
37
5357 58 56 55
60
0
10
20
30
40
50
60
70
2014 2015 2016 2017 2018 1H2019
Average Collection Period (Day)
Average Payment Period (Day)
Average Age of Inventory (Day)
Cash Cycle (Day)
Unit: Million Baht
Total Debt & D/E
3,170
5,0956,235
8,6167,808
1.37
2.052.25
2.79
2.5
0
0.5
1
1.5
2
2.5
3
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
2015 2016 2017 2018 1H2019
Total Debt D/E
Note: Q2-2019, exclude HUAWEI 117 MB
FINANCIAL RATIO
Unit: Million Baht
Dividends and Share Information
Dividend Policy: Policy of paying a minimum of 40% of net profit after tax, after reserve
required by laws and other reserves.
0.4
0.56 0.53
0.290.24
0.460.53
0.81
0.94
0.48
0.38
0.25 0.270.32
0.15 0.13
0.30.36
0.53 0.64
0.20.15
63%
48%
60%
52% 54%
65%68% 66%
70%
43% 41%
-5%
5%
15%
25%
35%
45%
55%
65%
75%
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1
2010 2011 2012 2013 2014 2015 2016 2017 2018 1H2018 1H2019
EPS DPS Dividend Payout
Year Operation Period Payment Date Dividend (per share) EPS Dividend Payout Ratio
2018 Jan-Dec 2018 10 May 2019 Cash Dividend 0.54
Stock Dividend 10:01
0.9470%
Note: It depends on BoD Meeting resolution.
Q&A