WPG (TWSE:3702) Reports 2023 Second Quarter Sales, Operating Income, Net Income and EPS Exceeding Forecast. EPS was NT$1.14
WPG (TWSE:3702) Reports 2023 Second Quarter Sales, Operating Income, Net Income and EPS Exceeding Forecast. EPS was NT$1.14
2023/08/10
WPG, the distributor of semiconductor components, announces 2023 Second Quarter consolidated sales, operating income, net income and EPS exceeding forecast. Consolidated sales achieved NT$156.69 billion, +8.2% QoQ. Operating income achieved NT$2.466 billion, +27% QoQ. Net Income achieved NT$2.317 billion, +238% QoQ. EPS was NT$1.14.
Due to sustained profitability and effective working capital management, 2023 Second Quarter operating cash inflow achieved NT$5.243 billion, net cash inflow of more than NT$47.6 billion for three consecutive quarters, leading to significant improvement in the company’s financial structure and cash position. 2023 Second Quarter key financial indicators Return on Equity (ROE) was 11.6%, Return on Working Capital (ROWC) was 7.5%.
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 Third quarter, based on an exchange rate assumption of NT$31 to the U.S. dollar, WPG forecasts consolidated revenue of NT$164 billion to NT$174 billion, gross margin of 3.7% to 3.9%, operating margin of 1.5 % to 1.7%, net income of NT$1.191 billion to NT$1.514 billion, EPS of NT$0.71 to NT$0.9.
Table: WPG Holdings Ltd. Consolidated Financial Statements for the year ended Jun 30, 2023 (In brief)
Units：NT$million
|
Income Statement (year ended Jun 30, 2023) |
|
Balance Sheet (Jun 30, 2023) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
301,443 |
|
Current Assets |
244,564 |
|
Cost of Goods Sold |
(289,737) |
|
Accounts receivables |
107,759 |
|
Gross Profit |
11,706 |
|
Inventories |
99,617 |
|
Operating Expenses |
(7,298) |
|
Other assets |
45,382 |
|
Operating income |
4,408 |
|
Total Assets |
289,946 |
|
Non-op Expenses |
60 |
|
Current Liabilities |
178,206 |
|
Profit Before Tax |
4,468 |
|
Current Borrowing |
80,070 |
|
Tax |
(1,439) |
|
Accounts payables |
75,440 |
|
Minority & Others |
(27) |
|
LT Liabilities |
27,536 |
|
Profit After tax |
3,002 |
|
Total Liabilities |
210,105 |
|
EPS - Common Stock (Note1) |
1.55 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
79,841 |
|
|
Cash Flow Statement (year ended Jun 30, 2023) |
|
|
Item |
Amount |
|
Income before Income Tax |
4,468 |
|
Change in NWC |
19,763 |
|
Operating cash inflow /(outflow) |
20,662 |
|
Investment cash inflow /(outflow) |
(159) |
|
Change in Financial Debt |
(23,382) |
|
Financing cash inflow /(outflow) |
(23,490) |
|
Cumulative translation adjustments |
920 |
|
Net Cash |
(2,067) |
|
Beginning cash balance |
16,597 |
|
Ending cash balance |
14,531 |
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