WPG (TSE:3702) Reports 2020 First Half Consolidated Sales and Net Income of NT$280.86 Billion and NT$3.78 Billion, Achieving Double-Digit Growth 16.5% and 28.8% Respectively. EPS was NT$2.18.
WPG (TSE:3702) Reports 2020 First Half Consolidated Sales and Net Income of NT$280.86 Billion and NT$3.78 Billion, Achieving Double-Digit Growth 16.5% and 28.8% Respectively. EPS was NT$2.18.
2020/08/13
WPG, the largest distributor of semiconductor components in Asia Pacific, announces Second Quarter consolidated sales and net income after tax continuously achieving double-digit growth. Second Quarter consolidated sales reached NT$149.811 billion, +14.3% QoQ, +16% YoY. Second Quarter net income after tax reached NT$2.12 billion, +27.8% QoQ, +30.2% YoY. Second Quarter EPS was NT$1.19. 2020 First Half consolidated sales was NT$280.855 billion, +16.5% YoY, reaching record high. Net income after tax reached NT$3.779 billion, +28.8% YoY. 2020 First Half EPS was NT$2.18.
The rising demand for semiconductor sensors due to digital technology development, accelerated deployment and increased penetration of 5G infrastructures, corporates’ continuous investment in hardware/software to utilize technology and expand distance business applications in order to increase productivity and remain competitive, as well as personal users’ increasing demand in mobile phones and communication components are the major causes of WPG’s continuous double-digit growth in sales and net income. Our customers’ increasing demand in the supply chain management related added-value services provided by large-scale distributors, including e-commerce, smart warehouse, and logistics, also contributes to the growth of sales and net income.
2020 Second Quarter key financial indicators: Return on Working Capital (ROWC) and Return on Equity (ROE) were 8.5% and 13.5% respectively.
Table: WPG Holdings Ltd. Consolidated Financial Statements for 2020 First Half (In brief)
Units：NT$million
|
Income Statement (six months ended June 30, 2020) |
|
Balance Sheet (June 30, 2020) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
280,855 |
|
Current Assets |
208,643 |
|
Cost of Goods Sold |
(269,695) |
|
Accounts receivables |
111,497 |
|
Gross Profit |
11,160 |
|
Inventories |
69,940 |
|
Operating Expenses |
(6,394) |
|
Other assets |
30,795 |
|
Operating income |
4,766 |
|
Total Assets |
239,439 |
|
Non-op Expenses |
(183) |
|
Current Liabilities |
155,892 |
|
Profit Before Tax |
4,582 |
|
Current Borrowing |
79,256 |
|
Tax |
(776) |
|
Accounts payables |
60,420 |
|
Minority & Others |
(27) |
|
LT Liabilities |
18,507 |
|
Profit After tax |
3,779 |
|
Total Liabilities |
176,310 |
|
EPS - Common Stock (Note1) |
2.18 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
63,129 |
|
|
Cash Flow Statement (six months ended June 30, 2020) |
|
|
Item |
Amount |
|
Income before Income Tax |
4,582 |
|
Change in NWC |
(4,393) |
|
Operating cash inflow /(outflow) |
(1,233) |
|
Change in Capital Expenditure |
(5,355) |
|
Investment cash inflow /(outflow) |
(4,865) |
|
Change in Financial Debt |
10,482 |
|
Financing cash inflow /(outflow) |
10,305 |
|
Cumulative translation adjustments |
(1,550) |
|
Net Cash |
2,656 |
|
Beginning cash balance |
9,993 |
|
Ending cash balance |
12,649 |
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