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WPG (TSE:3702) Reports Its 2014 Consolidated Sales Exceeds NT$450 Billion and Its Record High of Net Income Reaches NT$5.791 Billion. EPS Was NT$3.5.

 2015-02-03

WPG (TSE:3702) Reports Its 2014 Consolidated Sales Exceeds NT$450 Billion and Its Record High of Net Income Reaches NT$5.791 Billion. EPS Was NT$3.5.

 

Date: 2015/02/03

Taipei, Taiwan

 

Benefited from increased markets demand combined with growing shipments of communication-related components, automotives, industrial electronics, and cloud applications, WPG, the largest distributor of semiconductor components in Asia, announced Its 2014 consolidated sales, Operating income and net income set the group’s record high, 2014 Consolidated sales reached NT$452.567 billion. Under effective expense control, Operating income and net income increased 26.2% and 21.8% to NT$7.937 billion and NT$5.791 billion respectively. EPS was NT$3.5 per share, represented 22% increase over previous year’s NT$2.87 per share.

Consolidated sales of fourth quarter was NT$117.171 billion, Operating income was NT$1.776 billion, net income was NT$1.33 billion, represented 5.3%, 23.1% and 32.3% growth year over year. EPS was NT$0.80 per share, represented 32% increase over previous year’s NT$0.61 per share.

The profit growth has been delivered by domestic demand of emerging markets. Contribution of 3C products such as mid to high-end smart phone, tablet, wireless broadband, cloud servers and televisions were continued growing. Non-3C segments’ contribution such as automotives and industrial electronics remained healthy. With increased profit and improving operating efficiency, 2014 Key financial indices: Return on Working Capital (ROWC) and ROE was 9.0% and 13.6% respectively.

Management guides the total sales of first quarter 2015 will be between NT$108 billion and NT$113 billion, with the gross margin in the range of 4.4%~4.7% and the operating margin between 1.6%~1.8%.

In the fourth quarter of 2014, 76 application solutions were provided in the fields of Smart phone (15), Power (14), Wearable devices (12), MID(11), Industrial (11), automotive (10), Energy (3), focusing on applications of NFC/LTE Soc smart phones, lithium battery quick charging, digital power, wearable devices, wearable devices  with WeChat API, quad-core tablet, Industrial computer and server, GPS Tracker, solar micro-inverter.

 

 

 Table: WPG Holdings Consolidated Management Financials for the year ended December 31, 2014. (in brief)

Units:NT$ million

Income Statement (2014/1/1~2014/12/31)    Balance Sheet (2014/12/31)

Item

Amount

 

Item

Amount

Operating revenues

452,567

 

Current Assets

144,106

Cost of Goods Sold

(432,077)

 

Accounts receivables

82,015

Gross Profit

20,490

 

Inventories

45,535

Operating Expenses

(12,553)

 

Other assets

13,928

Operating income

7,937

 

Total Assets

158,034

Non-op Expenses

(834)

 

Current Liabilities

98,389

Profit Before Tax

7,104

 

Current Borrowing

52,967

Tax

(1,308)

 

Accounts payables

38,899

Minority & Others

(5)

 

LT Liabilities

13,791

Profit After tax

5,791

 

Total Liabilities

112,949

EPS (Note)

3.50

 

Common Stock

16,557

Net book value per share (Note)

27.19

 

Total Equity

45,084

Note:Based on weighted average outstanding shares.

 

Cash flows (2014/1/1~2014/12/31)

Item

Amount

Income before Income Tax

7,104

Change in NWC

(20,213)

Operating cash inflow /(outflow)

(13,448)

Investment cash inflow /(outflow)

179

Change in Financial Debt

15,894

Financing cash inflow /(outflow)

12,090

Cumulative translation adjustments

2,937

Net Cash

1,758

Beginning cash balance

9,459

Ending cash balance

11,216

 

IR contacts:Cliff Yuan/ Zoe Peng

Tel:886-2-7712-5268 / 886-2-7712-5262

Email address:  ir@WPGholdings.com

Corporate website:  www.WPGholdings.com