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
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