WPG (TWSE:3702) Reports 2020 Third Quarter Consolidated Sales, Net Income and EPS Hitting Single Quarter Record High. Consolidated Sales and Net Income Achieved Double-Digit Growth 20.7% and 26.5% YoY, Respectively. EPS was NT$1.34
WPG (TWSE:3702) Reports 2020 Third Quarter Consolidated Sales, Net Income and EPS Hitting Single Quarter Record High. Consolidated Sales and Net Income Achieved Double-Digit Growth 20.7% and 26.5% YoY, Respectively. EPS was NT$1.34
2020/11/30
WPG, the largest distributor of semiconductor components in Asia Pacific, announces Third Quarter consolidated sales, net income, and EPS hitting single quarter record high and achieving double-digit growth YoY. Third Quarter consolidated sales reached NT$169.987 billion, +20.7% YoY. Third Quarter net income reached NT$2.257 billion, +26.5% YoY. Third Quarter YTD consolidated sales reached NT$450.842 billion, +18.1% YoY. Third Quarter YTD consolidated net income reached NT$6.036 billion, +27.9% YoY. Third Quarter and Third Quarter YTD EPS were NT$1.34 and NT$3.53, respectively.
Traditional peak season inventory fulfillment and continuously increasing demand for semiconductor sensors are the major causes for record-high sales and net income. Reasons behind Increasing demand for semiconductor sensors include strong mobile phones and communication components demand, accelerated digital technology development, increased penetration of 5G infrastructures, as well as corporates’ continuous investment in hardware/software in order to expand distance business applications for improved productivity and competitiveness. In addition, our customers’ increasing demand for large-scale distributors’ supply chain management related added-value services such as e-commerce, smart warehouse, and logistics, also contributes to the growth of sales and net income.
2020 Third Quarter key financial indicators: Return on Working Capital (ROWC) and Return on Equity (ROE) were 10.9% and 14.2%, respectively.
Driven by 5G commercialization and IoT trends, application solutions in power, 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, 49 application solutions were provided to our customers, including fields in Power (22), Automotive (6), Consumer(5), Smart Home (4), Wearable Devices (4), Smart City (2), Communication (2), Computer and related applications (2), Industrial (2), focusing on applications of Vcore solution/ 350W bridgeless power factor / 240W PC adapter power/ high current quick charge for lithium battery/True Wireless Stereo/LNB/LNBF 10W power/ Isolated LED lighting/ high conversion efficiency 5G small cell/ BMS balance solution/ side brush for robot vacuum cleaner / Car Camera/ Electric Power Steering(EPS)/ DSP solution for bluetooth speaker/ bluetooth 5.0 beacons/ face recognition attendance system/5G Radio frequency solution/wired mechanical keyboard / BMS for electric tool.
Table: WPG Holdings Ltd. Consolidated Financial Statements for nine months ended September 30, 2020 (In brief)
Units：NT$million
|
Income Statement (nine months ended September 30, 2020) |
|
Balance Sheet (September 30, 2020) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
450,842 |
|
Current Assets |
200,700 |
|
Cost of Goods Sold |
(433,525) |
|
Accounts receivables |
113,513 |
|
Gross Profit |
17,317 |
|
Inventories |
56,721 |
|
Operating Expenses |
(9,793) |
|
Other assets |
33,749 |
|
Operating income |
7,524 |
|
Total Assets |
234,450 |
|
Non-op Expenses |
(135) |
|
Current Liabilities |
142,909 |
|
Profit Before Tax |
7,389 |
|
Current Borrowing |
61,333 |
|
Tax |
(1,298) |
|
Accounts payables |
69,261 |
|
Minority & Others |
(55) |
|
LT Liabilities |
24,647 |
|
Profit After tax |
6,036 |
|
Total Liabilities |
170,301 |
|
EPS - Common Stock (Note1) |
3.53 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
64,149 |
|
|
Cash Flow Statement (nine months ended September 30, 2020) |
|
|
Item |
Amount |
|
Income before Income Tax |
7,389 |
|
Change in NWC |
15,638 |
|
Operating cash inflow /(outflow) |
18,977 |
|
Change in Capital Expenditure |
(5,565) |
|
Investment cash inflow /(outflow) |
(7,322) |
|
Change in Financial Debt |
(1,300) |
|
Cash Dividends |
(4,145) |
|
Financing cash inflow /(outflow) |
(5,617) |
|
Cumulative translation adjustments |
(3,078) |
|
Net Cash |
2,961 |
|
Beginning cash balance |
9,993 |
|
Ending cash balance |
12,953 |
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