WPG (TWSE:3702) Attend Investor Conference Held by KGI SECURITIES on November 16th, 2023
WPG (TWSE:3702) Attend Investor Conference Held by KGI SECURITIES on November 16th, 2023
2023/11/16
WPG, the distributor of semiconductor components, announces 2023 Third Quarter consolidated sales, operating income, net income and EPS exceeding forecast. Consolidated sales and operating income achieved NT$187.355 billion and NT$2.964 billion, +19.6% QoQ and +20.2% QoQ, respectively. Net income and EPS was NT$1.592 billion and NT$0.95.
2023 Thrid Quarter key financial indicators Return on Equity (ROE) was 7.7%, Return on Working Capital (ROWC) was 8.3%.
The reasons for the above revenue growth is 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 Fourth quarter, based on an exchange rate assumption of NT$32.2 to the U.S. dollar, WPG forecasts consolidated revenue of NT$170 billion to NT$180 billion, gross margin of 3.7% to 3.9%, operating margin of 1.6 % to 1.8%, net income of NT$3.512 billion to NT$4.154 billion, EPS of NT$2.09 to NT$2.47.
While striving to increase profit and market share, WPG actively adopts ESG practices for sustainable development. Recently, WPG wins two TCSA awards, namely the Top 100 Sustainable Model Enterprises and Corporate Sustainability Report Gold Awards.
Driven by 5G commercialization and IoT trends, application solutions in power, Automotive and IoT related field continue to increase, laying solid foundation for future growth in sales. To provide better value-added service and increase market share, 54 application solutions were provided to our customers, including fields in Power (20), Automotive (12), AIoT (6), Consumer (4), Industrial (4), Smart Home (3), Wearable Devices (2), Smart City (1), Medical (1), Computer(1), focusing on 7KW car charger(OBC), 48V EEA, 12v new energy vehicle on-board DC-DC, high density 3KW Using SiC MOSFETs, 6KW high voltage DC-DC converter for electric vehicle charging, short range radar, automobile ISD intelligent interactive light, steering wheel hand off detection, touch motion sensor desk lamp, 4K 60 frames HD image, induction cooker touch panel, heart rate and blood oxygen detection, FOC ESC for drones…etc.
Table: WPG Holdings Ltd. Consolidated Financial Statements for the year ended September 30, 2023 (In brief)
Units：NT$million
|
Income Statement (year ended September 30, 2023) |
|
Balance Sheet (September 30, 2023) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
488,798 |
|
Current Assets |
278,483 |
|
Cost of Goods Sold |
(470,254) |
|
Accounts receivables |
133,719 |
|
Gross Profit |
18,544 |
|
Inventories |
108,042 |
|
Operating Expenses |
(11,172) |
|
Other assets |
45,584 |
|
Operating income |
7,372 |
|
Total Assets |
324,068 |
|
Non-op Expenses |
(1,006) |
|
Current Liabilities |
200,657 |
|
Profit Before Tax |
6,365 |
|
Current Borrowing |
86,427 |
|
Tax |
(1,716) |
|
Accounts payables |
98,071 |
|
Minority & Others |
(56) |
|
LT Liabilities |
33,446 |
|
Profit After tax |
4,594 |
|
Total Liabilities |
238,502 |
|
EPS - Common Stock (Note1) |
2.50 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
85,566 |
|
|
Cash Flow Statement (year ended September 30, 2023) |
|
|
Item |
Amount |
|
Income before Income Tax |
6,365 |
|
Change in NWC |
7,894 |
|
Operating cash inflow /(outflow) |
13,877 |
|
Investment cash inflow /(outflow) |
(509) |
|
Change in Financial Debt |
(11,116) |
|
Financing cash inflow /(outflow) |
(18,236) |
|
Cumulative translation adjustments |
4,311 |
|
Net Cash |
(557) |
|
Beginning cash balance |
16,597 |
|
Ending cash balance |
16,041 |
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