Brogent Technologies, Inc.

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Brogent Reported a Strong Full Year 2014 and a Stronger Year 2015 to Come

April 23, 2015

Kaohsiung-04/23/2015- Brogent Technologies Inc. ("Brogent" or the "Company") announced the full year revenue of NT$830 million, and earnings per share of NT$6.83 for the fiscal year ended December 31, 2014. The results represent a strong year-over-year growth.

 

According to the full year financial report of Brogent, net revenue for the year of 2014 was NT$830 million, an increase of 149% from NT$ 334 million of 2013. Gross revenue of NT$427 million, a 203% increase of last year’s NT$141 million; operating income of NT$231 million, reflected a 10736% growth over last year’s NT$2.13 million. The net revenue was NT$224 million. The annual earnings per share reached NT$6.83. The return on equity rate soared up to 30%. These indexes symbolize a strong year of 2014.

 

“Flying Over the World from Taiwan” is becoming reality

In 2013, the successful grand opening of the i-Ride flight theater“FlyOver Canada”has built a solid foundation of Brogent’s expansion on the global market. Following the success in Canada, “Fuji Airways” has caused a great sensation in Japan, which made the longest waiting time for experiencing it up to 4 hours. This year in March, Brogent has its motion simulators combined with European famous animation sold to Roermond, Niederland. The plan “Flying Over the World from Taiwan” is no more a slogan. In these few years, the company has built its reputation by the touching i-Ride flight theaters. Combing the hardware configuration know-how and the software design skill, Brogent stands on an impeccable position in the motion simulator industry.

 

2015 looking forward to another miracle with 2C strategy

In addition to contracts on-hand, Brogent’s first CitiPark is expected to open in the 2nd half of 2015 in Taiwan. The first i-Ride film of the famous Japanese animation “Attack on Titan” will also launch Taiwan market in this summer. The most recent contracts, from the U.S. and Abu Dhabi, are under the process of design and manufacture and will contribute to revenue by the Percentage of Completion (PoC) method. Other motion simulator projects in Netherlands and Mainland China are expected to be completed this year. The estimated annual growth is expected to sustain at a high level.

 

The current sale of media-based attractions is sufficient to secure a growing business performance. In order to ensure a sustainable future, the company has switched on its 2C strategy. Combining “Channel” and “Content,” Brogent will be able to transform from a theme park attraction supplier to a co-operator in the entertainment business. Therefore, the company has not only allied with a strategic partner through private equity, but also started multiple business models to ensure a sustainable future growth. The company has implemented a revenue-sharing model as a necessary complement to the one-time sale model. As a result, the annual earnings per share have been diluted by the increase of capital stock and deferred income. Taking the two factors into account, the performance of 2014 corresponded to the expectation of investors and the company. Looking forward, Brogent is expecting a more stable growth in revenue and a sustainable future, by its flexible business models, expanding global sales channels and high grade products.

 
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