公司簡介 (8454 TT/TW)

2016年9月

本簡報資料所提供之資訊，包含所有前瞻性的看法，將不會因 任何

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性、完整性、或可靠性，亦不代 表本公司、產業狀況或後續重大發

展的完整論述。

2

免責聲明

Agenda

2Q16 Earnings Results

Platform traffic and warehouse/logistics

E-Commerce Business Units Update

TV-Catalogue Business Units Update

Oversea investments Update

3

公司簡介

4

Online Shopping

Catalogue Shopping

TV Shopping

Fubon Gehua

(Beijing)

TVD SHOPPING (Thailand)

International Taiwan

Global Home

Shopping

Founded Sep. 2004 Capital NT$1.42bn Employees 1,439

Major Shareholders

Taiwan Mobile Group 44.38% Tong-An Investment Co., Ltd. 10.9% WOORI HOME SHOPPING CO.,LTD 9.86% LOTTE SHOPPING CO.,LTD 5.15%

0.0

5.0

10.0

15.0

20.0

25.0

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

• Shopping website

selling only TV

products

• Started 12 hrs fast

delivery

• Optimize website

mechanism

• Bargaining power

increased

• 1st TVC

broadcasted

• Social media

• APP launched

• Introduced

comprehensive

products

• Guided TV

member to shop

online

• Increased ad on

the Internet

• Big data

implementation

• Build own

warehouse

• Adjust supply

chain

• Introduce brand-

new product

categories

(NT$bn)

5

momo.com (8454 TT/8454.TW)

EC Business

Momoshop.com.tw

Momomall.com.tw

TV Shopping &

Catalogue

Fubon Gehua

(Beijing)

Supporting business units (travel agency and

insurance distribution agent) 100%

Consolidated

entities

Long term

investment Pelican Express

(Taiwan)

17.7%

TV Direct-momo

(Thailand)

35%

Global Mall TV

Shopping

(Beijing)

20%

Note: As of 1Q16

公司架構

70%

2Q16 and 1H16 P&L

6

P&L 2Q16A 2Q15A diff % chg 1H16A 1H15A diff % chg

Revenue 6,688.9 6,198.9 490.0 7.9% 13,695.2 12,458.6 1,236.6 9.9%

Gross profit 816.9 762.0 54.9 7.2%

1,718.0

1,537.6 180.4 11.7%

EBITDA 343.5 304.9 38.6 12.7% 738.7 633.5 105.2 16.6%

Operating profit 320.2 270.6 49.6 18.3% 688.8 565.4 123.4 21.8%

Income from long term investments 15.2 15.1 0.1 0.7% 40.6 20.6 20.0 97.1%

Other non operating income 16.3 30.0 -13.7 -45.7% 31.0 50.1 -19.0 -38.0%

Pretax profit 351.7 315.7 36.0 11.4% 760.4 636.1 124.3 19.5%

Tax 58.4 62.6 - 4.2 -6.7% 130.6 125.3 5.3 4.2%

Net income 293.3 253.1 40.2 15.9%

629.8

510.8

119.0 23.3%

less minorities - 3.6 -15.8 12.2 -77.2% -10.6 -32.4 21.8 -67.3%

Net income attributable to parent 296.9 268.9 28.0 10.4% 640.4 543.2 97.2 17.9%

Basic EPS^ 2.12 1.89 0.23 12.2% 4.57 3.82 0.75 19.6%

Gross margin 12.2% 12.3% -0.1% 12.5% 12.3% 0.2%

EBITDA margin 5.1% 4.9% 0.2% 5.4% 5.1% 0.3%

Operating margin 4.8% 4.4% 0.4% 5.0% 4.5% 0.5%

Pretax margin 5.3% 5.1% 0.2% 5.6% 5.1% 0.5%

Net margin 4.4% 4.1% 0.3% 4.6% 4.1% 0.5%

2Q16 and 1H16 Balance Sheet

7

(NT$mn) Jun 2016 Mar 2016 Jun 2015

Cash & Cash equivalents 3,334.9 4,022.8 2,719.3

Accounts receivables 34.2 23.2 40.1

Other receivables 514.2 509.4 508.7

Inventories 131.2 117.6 104.0

Other current assets 1,145.3 1,282.1 2,001.0

Current assets 5,159.9 5,955.0 5,373.2

LT Investments 1,297.0 1,339.4 1,251.6

PP&E 2,424.8 2,273.6 2,233.6

Other non-current assets 192.3 181.0 214.7

Total non-current assets 3,914.1 3,794.0 3,700.0

Total Assets 9,074.0 9,749.0 9,073.1

(NT$mn) Jun 2016 Mar 2016 Jun 2015

Short term borrowings 68.6 80.8 -

Accounts Payable 2,394.2 2,439.7 2,134.9

Other payables 514.2 308.9 508.7

Other current liabilities 526.3 672.6 542.6

Non current liabilities 261.2 262.6 250.4

Total Liabilities 3,764.5 3,764.5 3,436.6

- - -

Common stock 1,420.6 1,420.6 1,420.6

Additional paid-in capital 3,175.6 3,354.9 3,329.6

Retained earnings 1,253.7 1,758.0 899.1

Treasury share - 397.2 - 397.2 -

Other equity items - 161.4 - 151.7 - 1.3

Shareholders' equity 5,291.3 5,984.5 5,648.0

2Q16各事業單位EBITDA損益

8

Loss/ Expenses

Profit

NT$296.9mn

Net Profit

NT$407.2 mn

0

Profit

Agenda

2Q16 Earnings Results

Platform traffic and warehouse/logistics

E-Commerce Business Units Update

TV-Catalogue Business Units Update

Oversea investments Update

9

2016年營運重點: E-Commerce

10

momoshop &

momomall

Market share gain

- online/mobile app

Listing of Tier 1 Brands

Active SKU increase

Integration of EC/TV/Catalogue

Expansion of Warehouse/

Logistics capabilities

Marketing cost management

Taiwan’s Traffic Rankings and APP usage survey

11

Source: Market Intelligence & Consulting Institute, MIC

APP usage survey by MIC – momo app is ranked #19

Traffic Ranking

Global Ranking In Country Ranking

2014 2015 2014 2015

Momoshop.com.tw 860 637 (+109) 18 13 (+5)

Pchome.com.tw 844 946 (-33) 19 17

Source: Alexa

Traffic continues to

improve, with ~2 mn

unique visitors per

day in 2Q16 from PC

and mobile platforms.

Unique visitors

increased +15.7%

YoY in 2Q16

APP usage survey by

MIC – momo app is

ranked #19

262.1 392.1

509.7

738.4

1,015.5 1,226.8

1,473.1

1,852.4

2,155.2 2,163.6

7.3% 10.2%

12.0%

16.5%

22.0% 25.3%

29.4% 33.2%

37.8% 39.3%

0%

10%

20%

30%

40%

50%

0

500

1,000

1,500

2,000

2,500

3,000

1Q14A 2Q14A 3Q14 4Q14 1Q15A 2Q15A 1Q15 2Q15 1Q16A 2Q16A

Mobile Commerce GMV M-Commerce as % of EC Sales(NT$mn)

12

momo行動購物成長迅速

• Cumulative number of customers reached 1.53mn, +72.3% YoY

• Mobile GMV increased 113% YoY in 2Q16 and ~8x since 1Q14

• Mobile commerce GMV accounted for 39.3% of B2C sales in 2Q16

and surpassed +40% in July 2016

13

現有物流中心配送能力及2H16規劃

Warehouse Capacity (June ‘16)

5 warehouses

~19,000 pings

200K SKUs (in warehouse)

Total SKUs: 1.8 mn 12 hour delivery coverage:

Taipei City, New Taipei City,

Keelung City, Taoyuan City,

Hisnchu City, Zhubei City,

2H16 additions +5,000 pings +30-50k SKUs (in warehouse) +80-100K Total SKUs Trial runs in 2H16 12 hour delivery in Taichung 6 hour delivery in Taipei City and New Taipei City

14

自動化物流中心建置進度

Completion in 1Q17; trial runs in 2Q17

Location: Dayuan, Taoyuan County

Land: NT$1.7bn (2014);

Facilities & Equipment: ~NT$2.5bn

Total Cost: NT$4.2bn

Over 24,000 ping (B1-6F) / +500,000 SKUs

Automatic Storage/Retrieval System (ASRS)

Automatic Merge System

Shuttle Racks

Conveyer system

Digital Sorting System

Conveyor Systems

Current progress: +40% completed

3C

Electronic

s, 33.7%

Household

, 24.9%

Fashion &

Luxury,

14.2%

Beauty &

Healthcar

e, 20.6%

Sports &

Outdoors,

6.5%

B2C Product mix - 2Q16

15

momoshop 網路購物(B2C)

No. 2 B2C website in Taiwan by GMV

Average 6 mn unique visitors per month

Daily traffic: +1 mn

1.8 mn active SKU

In 2Q16:

3C Electronics sales increased +34.9% YoY

Households sales increased +15.2% YoY

Customer Profile

• ~70% female

• Key customers age:25~49 yrs old

• Cumulative customers: 5.0 M

• Average Ticket size: $1,887 (2Q16)

• Customers avg. 5.0 orders in 2015

• 1.2 mn Facebook fans

• 11.3 mn Line fans

15

16

Momomall網路購物平台(B2B2C)

B2B2C’s GMV

Launched 2014/7/25

~2538 suppliers

~ 3 mn SKU

~ 5 mn unique visitors/month

Daily traffic: 460K

800K customers

More than doubled in 2Q16 vs 2Q15

36.6

87.5 108.3

130.5 157.9

195.9

237.9

270.9

0

50

100

150

200

250

300

3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16

NT$mn

5,510.0 8,042.7

11,522.0 14,968.0

17,179.9

4,087.7 4,801.2 8,152.4 9,779.3

11.1 44.2

8.9 16.5

17.1

31.1

-

5,000.0

10,000.0

15,000.0

20,000.0

2011A 2012A 2013A 2014A 2015A 2Q15A 2Q16A 1H15A 1H16A

(NT$bn) Revenue B2C B2B2C

網路購物營業收入和EBITDA趨勢(B2C & B2B2C)

17

2Q16 growth of 9.2%

YoY for B2C; losses

for B2B2C improved

QoQ by NT$1.2mn

1H16 EBITDA

increased 17.1%

YoY

B2C revenue

increased 17.5%

YoY in 2Q16

-29.9 -83.7 (20.7) (22.4) -40.9 -46

223.5

421.1

537.0

931.6 839.3

210.5 229.6

432.6

504.7

(200)

0

200

400

600

800

1,000

1,200

2011A 2012A 2013A 2014A 2015A 2Q15A 2Q16A 1H15A 1H16A

(NT$mn) EBITDA for EC B2C B2B2C

2016年營運重點:– TV & Catalogue

18

momo TV 電視購物 &

Catalogue 型錄

Integration of EC/TV/Catalogue

- TV APP, VOD, online catalogue

Product differentiation

Programming adjustments

Cost management (Catalogue)

Supplier development

Integration of oversea investments 1. TVD-momo (35%-Thailand)

2. Global Mall (20% - China)

3. Additional ASEAN investment

momo電視購物/型錄

3 home shopping channels

24HR broadcasting

~5mn households viewership

Product inspection

Catalogue: 800k prints per

mailing

19

19

Customer Profile

• ~70% female

• Cumulative customers: 4.66mn

• Average ticket size: $2,594 (2Q16)

• Key customers age: 35~59 yrs old

• Customers avg. 2.87 orders in 2015

3C

Electronics

, 14.7%

Household

, 15.7%

Fashion &

Luxury,

17.9%

Beauty &

Healthcare

, 42.6%

Sports &

Outdoors,

9.1%

TV Product mix - 2Q16

Realign viewership base

20

momo電視購物/型錄-營收和EBITDA趨勢

462.0 617.9

482.6

126.9 95.7 255.4 217.9

203.2 204.2

116.6

21.6 39.8 59.9 68.2

0

250

500

750

1,000

2013A 2014A 2015A 2Q15A 2Q16A 1H15A 1H16A

(NT$mn) TV & Catalogue EBITDA Catalogue TV

7,103.2 6,586.9 6,434.3

1,607.6 1,437.3 3,232.2 3,027.0

1,623.1 1,861.5 1,665.9

408.9 397.9

874.6 787.5

0

2,500

5,000

7,500

10,000

2013A 2014A 2015A 2Q15A 2Q16A 1H15A 1H16A

(NT$mn) TV & Catalogue Revenue

Catalogue TV

16.3 9.5

31.9 27.4

3.5

9.7

0

10

20

30

40

2Q15A 2Q16A 1H15A 1H16A

(RMB mn)

287.2

385.6 549.6

820.7

0

500

1,000

1,500

2Q15A 2Q16A 1H15A 1H16A

(RMB mn) Revenue

21

環球國廣 (20%持股) –營收和稅後淨利趨勢

Number of household increased from 75 mn to 120mn 2015 1 of 11 national licenses (1 of 3 issued by central government)

Note: momo invested in Global Mall in June 2015

2Q16 revenue

increased 34.3% YoY 1H16 revenue

increased 49.3% YoY

14.3 23.7

18.2

52.2

0

50

100

2Q15A 2Q16A 1H15A 1H16A

(THB mn) Net Income

195.1 283.3

331.2

573.9

0

250

500

750

1,000

2Q15A 2Q16A 1H15A 1H16A

(THB mn) Revenue

22

泰國TVD-momo (35%持股)-營收和稅後淨利趨勢

Note: TVD started its operation on June 26th, 2014.

2Q16 revenue

increased 45.2% YoY

2Q16 net income increased

66.5% YoY

1H16 revenue

increased 73.3% YoY

1H16 net income

increased ~2.9x vs.

1H15

23

虛擬 通路

型錄 電視

行動

電視

網路 行動

網路

跨國

經營

結語

momo平台綜效

涵蓋客戶群廣 不同平台彼此間覆蓋率高。

規模經濟 優勢商品可在不同平台販售，可有最大銷售量和利潤，並達到規模經濟。

市場資訊互通 網購資訊可提供電視購物做有效

開發。 廣告行銷資源

不同平台可互為廣告和行銷，降低廣告與行銷成本。

跨國商品流通 透過海外通路佈局，進行跨國商品流通，引進趨勢性商品。

感謝您的聆聽

敬請指教

24