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WPG (TSE:3702) Reports 2020 First Quarter Consolidated Sales and Net Income Achieving Double-Digit Growth 17.2% and 27.2% YoY Respectively. EPS was NT$0.99

2020-05-27

WPG (TSE:3702) Reports 2020 First Quarter Consolidated Sales and Net Income Achieving Double-Digit Growth 17.2% and 27.2% YoY Respectively. EPS was NT$0.99

 

2020/05/27

 

The digital platform and smart warehouse solution for smart business logistics service implemented by WPG Holdings Ltd., the largest distributor of semiconductor components in Asia Pacific, are gradually showing positive impacts. Benefited from strong shipments of 5G related components, memory price increase, and demand of laptop, communication components, server and due to work-from-home and distance education policy, WPG announces 2020 first quarter consolidated sales of NT$131.045 billion, YoY 17.2%, setting new first quarter record. Operating income was NT$2.191 billion. Contributed by interest costs decrease and FX gain, net income reached NT$1.659 billion, representing 27.2% double-digit growth year over year. EPS was NT$0.99.

2020 first quarter key financial indicators: Return on Working Capital (ROWC) and Return on Equity (ROE) were 7.4% and 10.3% respectively.

Driven by 5G commercialization and IoT trends, application solutions in smart city, smart home and IoT related field continue to increase, laying solid foundation for future growth in sales. To provide better value-added service and increase market share, 53 application solutions were provided to our customers, including fields in Power (25), Automotive (8), Smart Home (8), Computer (3), Consumer(3), Wearable Devices (2), AIoT (1), Smart City (1), Medical (1), Industrial (1), focusing on applications of 50W open frame power/ 80W wireless control lighting/ 500W high power medical power/ TYPE-C PD car charger/ 1 KW on board charge module/ high efficiency gaming power / adaptive driving beam/ object tracking ADAS/ 7 ports network switch for automotive/ low cost water flowing lights/ ZigBee repeater/ voice-controlled smart curtain/ air quality monitor/ high quality OLED animation display/ Touch Slider/ commercial resizing LCD/ bone conduction headphones / voice-controlled smart water dispenser with water flow sensor/ OCPP charging pile / AI scalp detection.

 

Table: WPG Holdings Ltd. Consolidated Financial Statements for three months ended March 31, 2020 (In brief)

Units:NT$million

Income Statement

(three months ended March 31, 2020)

 

Balance Sheet

(March 31, 2020)

Item

Amount

 

Item

Amount

Operating revenues

131,045

 

Current Assets

219,773

Cost of Goods Sold

(125,772)

 

Accounts receivables

108,632

Gross Profit

5,273

 

Inventories

81,536

Operating Expenses

(3,082)

 

Other assets

29,149

Operating income

2,191

 

Total Assets

248,922

Non-op Expenses

(186)

 

Current Liabilities

164,477

Profit Before Tax

2,006

 

Current Borrowing

78,538

Tax

(340)

 

Accounts payables

71,363

Minority & Others

(7)

 

LT Liabilities

16,602

Profit After tax

1,659

 

Total Liabilities

183,065

EPS (Note1)

0.99

 

Common Stock

18,791

Net book value per share (Note 1)

32.97

 

Total Equity

65,857

Note1:Based on weighted average outstanding shares.

 

Cash Flow Statement

(three months ended March 31, 2020)

Item

Amount

Income before Income Tax

2,006

Change in NWC

(2,081)

Operating cash inflow /(outflow)

(308)

Change in Capital Expenditure

(5,086)

Investment cash inflow /(outflow)

(4,548)

Change in Financial Debt

7,859

Financing cash inflow /(outflow)

7,748

Cumulative translation adjustments

343

Net Cash

3,235

Beginning cash balance

9,993

Ending cash balance

13,228

 

 

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

 

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