WPG Attend Investor Conference Held by KGI SECURITIES on March 2nd, 2022
WPG Attend Investor Conference Held by KGI SECURITIES on March 2nd, 2022
2022/03/02
WPG, the largest distributor of semiconductor components globally, announces 2021 consolidated sales, operating income, net income and EPS hitting record high. Consolidated sales and operating income achieved NT$778.573 billion and NT$13.804 billion, +27.7% and +37.4 YoY respectively. Net Income surpassed NT$10 billion and achieved NT$11.497 billion, +41.5% YoY. EPS was NT$6.61. 2021 Fourth Quarter consolidated sales, operating income and net income achieved NT$199.342 billion, +25.3% YoY, NT$3.276 billion, +29.7% YoY and NT$2.705 billion, +29.6% YoY, respectively.
Benefited from growth in revenue, 2021 Fourth Quarter key financial indicators Return on Equity (ROE) was 15.9%, and Return on Working Capital (ROWC) was 9.1%.
The overall strong demand for semiconductor and related electronic components specifically laptops, PCs, base stations, communication components, servers, and cloud are the major causes for record-high sales and net income.
For 2022 First Quarter, based on an exchange rate assumption of NT$27.7 to the U.S. dollar, WPG forecasts consolidated revenue of NT$180 billion to NT$190 billion, gross margin of 3.7% to 3.9%, operating margin of 1.65% to 1.85%, net income of NT$2.411 billion to NT$2.789 billion, EPS of NT$1.44 to NT$1.66.
Driven by 5G commercialization and IoT trends, application solutions in power, Automotive and IoT related field continue to increase, laying solid foundation for future growth in sales. To provide better value-added service and increase market share, 53 application solutions were provided to our customers, including fields in Power (20), Consumer (8), Smart City (6), Automotive (6), Wearable Devices (4), Smart Medical (3), Computer and related applications (3), Smart Home (1), Communication (1), focusing on 65W TYPE C, 50W vehicle wireless charging, 130W ACF GaN NB power adapter, 16W QR flyback frequency transformer auxiliary power, 5G high efficiency 500W power supplier, 4KW totem pole PFC digital power, electric toothbrush (wireless charging+BLDC), low pressure fan, smart monitor and long distance video call, GNSS GPS, ultraviolet germicidal lamp monitor, double module mouse…etc.
Table: WPG Holdings Ltd. Consolidated Financial Statements for the year ended December 31, 2021 (In brief)
Units：NT$million
|
Income Statement (year ended December 31, 2021) |
|
Balance Sheet (December 31, 2021) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
778,573 |
|
Current Assets |
246,449 |
|
Cost of Goods Sold |
(748,872) |
|
Accounts receivables |
134,392 |
|
Gross Profit |
29,701 |
|
Inventories |
86,215 |
|
Operating Expenses |
(15,897) |
|
Other assets |
41,290 |
|
Operating income |
13,804 |
|
Total Assets |
287,739 |
|
Non-op Expenses |
372 |
|
Current Liabilities |
182,224 |
|
Profit Before Tax |
14,175 |
|
Current Borrowing |
89,898 |
|
Tax |
(2,527) |
|
Accounts payables |
75,937 |
|
Minority & Others |
(151) |
|
LT Liabilities |
31,478 |
|
Profit After tax |
11,497 |
|
Total Liabilities |
216,513 |
|
EPS - Common Stock (Note1) |
6.61 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
71,225 |
|
|
Cash Flow Statement (year ended December 31, 2021) |
|
|
Item |
Amount |
|
Income before Income Tax |
14,175 |
|
Change in NWC |
(38,944) |
|
Operating cash inflow /(outflow) |
(19,034) |
|
Investment cash inflow /(outflow) |
(1,142) |
|
Cash Dividends |
(5,605) |
|
Change in Financial Debt |
32,331 |
|
Financing cash inflow /(outflow) |
26,479 |
|
Cumulative translation adjustments |
(2,915) |
|
Net Cash |
3,388 |
|
Beginning cash balance |
11,020 |
|
Ending cash balance |
14,408 |
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