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WPG (TWSE:3702) Attend Investor Conference Held by KGI SECURITIES on May 22th, 2023

2023-05-22

WPG (TWSE:3702) Attend Investor Conference Held by KGI SECURITIES on May 22th, 2023

 

2023/05/22

 

WPG, the distributor of semiconductor components, announces 2023 first quarter consolidated sales achieved NT$144.754 billion, -18% QoQ. Operating income achieved NT$1.941 billion, -38.3% QoQ. Net income achieved NT$0.685 billion, -51.4% QoQ. EPS was NT$0.41.

 

Due to sustained profitability and effective working capital management, 2023 first quarter operating cash inflow achieved NT$15.418 billion, net cash inflow of more than NT$42 billion for two consecutive quarters, leading to significant improvement in the company’s financial structure and cash position. 2023 first quarter key financial indicators Return on Equity (ROE) was 3.4%, Return on Working Capital (ROWC) was 5.7%.

 

The downstream customers continuously invest in networking and peripheral equipment and server, growing demand for automation drives industrial electronics, and automotive electronics related non-3C applications remains strong. In addition, North America and Southeast Asia customers have put into production, driving demand for semiconductor and related electronic components.

 

For 2023 second quarter, based on an exchange rate assumption of NT$30.4 to the U.S. dollar, WPG forecasts consolidated revenue of NT$142 billion to NT$152 billion, gross margin of 3.7% to 3.9%, operating margin of 1.3 % to 1.45%, net income of NT$1.898 billion to NT$2.103 billion, EPS of NT$0.89 to NT$1.01.

 

WPG actively cultivates the ESG field and holds a leading position in the global semiconductor component distribution industry. After achieving an upgrade in MSCI ESG rating from BBB to A, WPG has once again been recognized for its exceptional performance by ranking in the top 5% of the 9th Corporate Governance Evaluation. This demonstrates high recognition from both international rating agencies and domestic evaluation institutions for WPG's commitment to ESG sustainable management.

 

Driven by 5G commercialization and IoT trends, application solutions in power, Automotive and IoT related field continue to increase, and Introducing nearly a hundred solution webinars since 2022, laying solid foundation for future growth in sales. To provide better value-added service and increase market share, 25 application solutions were provided to our customers, including fields in Power (12), Smart Home (5), Automotive (4), AIoT (2), Medical(1), Industrial (1), focusing on USB Type-C PD 3.1/ High-efficiency home appliance auxiliary SMPS/ Primary-side regulated isolated flyback converter/500w fan/ Highly integrated wireless charging transmitter IC / 3D printer/ AI camera / Smart voice helmet / AI driving condition detection solution / Industrial state monitoring sensor/ Neck-worn Bluetooth hearing aid / Smart load management.…etc.

 

Table: WPG Holdings Ltd. Consolidated Financial Statements for the year ended March 31, 2023 (In brief)

Units:NT$million

Income Statement

(year ended March 31, 2023)

 

Balance Sheet

(March 31, 2023)

Item

Amount

 

Item

Amount

Operating revenues

144,754

 

Current Assets

241,092

Cost of Goods Sold

(139,134)

 

Accounts receivables

101,015

Gross Profit

5,619

 

Inventories

103,038

Operating Expenses

(3,678)

 

Other assets

42,835

Operating income

1,941

 

Total Assets

283,927

Non-op Expenses

(1,075)

 

Current Liabilities

168,402

Profit Before Tax

866

 

Current Borrowing

83,985

Tax

(171)

 

Accounts payables

68,736

Minority & Others

(11)

 

LT Liabilities

29,227

Profit After tax

685

 

Total Liabilities

201,269

EPS - Common Stock (Note1)

0.41

 

Common Stock

16,791

Note1:Based on weighted average outstanding shares.

 

Total Equity

82,657

 

Cash Flow Statement

(year ended March 31, 2023)

Item

Amount

Income before Income Tax

866

Change in NWC

15,526

Operating cash inflow /(outflow)

15,418

Investment cash inflow /(outflow)

439

Change in Financial Debt

(17,115)

Financing cash inflow /(outflow)

(17,170)

Cumulative translation adjustments

(984)

Net Cash

(2,296)

Beginning cash balance

16,597

Ending cash balance

14,301

 

IR contacts:Cliff Yuan/ Zoe Peng

Tel:886-2-2191-0068 ext.85268/ext.85262

Email address:  ir@WPGholdings.com

Corporate website:  www.WPGholdings.com

 

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