WPG (TWSE:3702) Reports 2022 Second Quarter Consolidated Net Income and EPS Exceeding High Range Forecast. 2022 Second Quarter EPS was NT$1.49, YTD EPS was NT$3.54
WPG (TWSE:3702) Reports 2022 Second Quarter Consolidated Net Income and EPS Exceeding High Range Forecast. 2022 Second Quarter EPS was NT$1.49, YTD EPS was NT$3.54
2022/08/09
WPG, the largest distributor of semiconductor components globally, announces 2022 Second Quarter consolidated sales achieved NT$199.056 billion, operating income achieved NT$3.775 billion hitting record high for the period. Contributing from Non-operating income, Net income of NT$2.897 billion with EPS NT$1.49 exceeding high range forecast. The first half of 2022 consolidated sales, operating income and net income achieved NT$408.921 billion, +8.4% YoY, NT$7.996 billion, +20.6% YoY and NT$6.341 billion, +13.1% YoY, respectively. EPS was NT$3.54
Benefited from profit growth, 2022 Second Quarter key financial indicators Return on Equity (ROE) was 15.9%, Return on Working Capital (ROWC) was 8.6%.
The overall demand for semiconductor and related electronic components specifically high-performance computing and cloud hardware device for laptops, communication components, servers and base stations, and automotive electronics are the major causes for growth in sales and net income.
For 2022 Third Quarter, based on an exchange rate assumption of NT$29.8 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 1.75% to 1.95%, net income of NT$2.261 billion to NT$2.647 billion, EPS of NT$1.35 to NT$1.58.
Table: WPG Holdings Ltd. Consolidated Financial Statements for the six months ended June 30, 2022 (In brief)
Units：NT$million
|
Income Statement (six months ended June 30, 2022) |
|
Balance Sheet (June 30, 2022) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
408,921 |
|
Current Assets |
296,001 |
|
Cost of Goods Sold |
(393,095) |
|
Accounts receivables |
146,126 |
|
Gross Profit |
15,826 |
|
Inventories |
118,872 |
|
Operating Expenses |
(7,830) |
|
Other assets |
40,989 |
|
Operating income |
7,996 |
|
Total Assets |
336,990 |
|
Non-op Expenses |
(227) |
|
Current Liabilities |
217,282 |
|
Profit Before Tax |
7,769 |
|
Current Borrowing |
104,420 |
|
Tax |
(1,382) |
|
Accounts payables |
89,198 |
|
Minority & Others |
(46) |
|
LT Liabilities |
41,102 |
|
Profit After tax |
6,341 |
|
Total Liabilities |
261,146 |
|
EPS - Common Stock (Note1) |
3.54 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
75,844 |
|
|
Cash Flow Statement (six months ended June 30, 2022) |
|
|
Item |
Amount |
|
Income before Income Tax |
7,769 |
|
Change in NWC |
(31,221) |
|
Operating cash inflow /(outflow) |
(29,712) |
|
Investment cash inflow /(outflow) |
(1,792) |
|
Change in Financial Debt |
24,145 |
|
Financing cash inflow /(outflow) |
23,835 |
|
Cumulative translation adjustments |
5,893 |
|
Net Cash |
(1,777) |
|
Beginning cash balance |
14,408 |
|
Ending cash balance |
12,631 |
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