WPG (TWSE:3702) Fourth Quarter 2023 Sales Hitting Second Highest Quarterly Record for the Period, Net Income and EPS Hitting Record High. EPS was NT$2.09
WPG (TWSE:3702) Fourth Quarter 2023 Sales Hitting Second Highest Quarterly Record for the Period, Net Income and EPS Hitting Record High. EPS was NT$2.09
2024/02/29
WPG announces 2023 Fourth Quarter consolidated sales of NT$183.09 billion hitting second highest quarterly record for the period, operating income was NT$3.023 billion, +2% QoQ. Under the one-time recognition for disposal of part of the investment profits, net income and EPS hitting record high, achieved NT$3.515 billion and NT$2.09, respectively.
2023 Fourth Quarter key financial indicators Return on Equity (ROE) was 17.1%, Return on Working Capital (ROWC) was 8.1%.
The reasons for the above revenue growth is the downstream customers invest in networking and peripheral equipment and AI server business gradually grows. In addition, North America and Southeast Asia customers have put into production driving demand for semiconductor and related electronic components.
For 2024 First quarter, based on an exchange rate assumption of NT$31 to the U.S. dollar, WPG forecasts consolidated revenue of NT$160 billion to NT$170 billion, gross margin of 3.7% to 3.9%, operating margin of 1.5 % to 1.7%, net income of NT$0.9 billion to NT$1.21 billion, EPS of NT$0.54 to NT$0.72.
Table: WPG Holdings Ltd. Consolidated Financial Statements for the year ended December 31, 2023 (In brief)
Units：NT$million
|
Income Statement (year ended December 31, 2023) |
|
Balance Sheet (December 31, 2023) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
671,888 |
|
Current Assets |
273,029 |
|
Cost of Goods Sold |
(646,502) |
|
Accounts receivables |
130,915 |
|
Gross Profit |
25,386 |
|
Inventories |
103,539 |
|
Operating Expenses |
(14,991) |
|
Other assets |
41,341 |
|
Operating income |
10,395 |
|
Total Assets |
314,371 |
|
Non-op Expenses |
(113) |
|
Current Liabilities |
205,284 |
|
Profit Before Tax |
10,282 |
|
Current Borrowing |
101,879 |
|
Tax |
(2,084) |
|
Accounts payables |
86,012 |
|
Minority & Others |
(88) |
|
LT Liabilities |
20,369 |
|
Profit After tax |
8,109 |
|
Total Liabilities |
229,727 |
|
EPS - Common Stock (Note1) |
4.59 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
84,644 |
|
|
Cash Flow Statement (year ended December 31, 2023) |
|
|
Item |
Amount |
|
Income before Income Tax |
10,282 |
|
Change in NWC |
3,270 |
|
Operating cash inflow /(outflow) |
16,204 |
|
Investment cash inflow /(outflow) |
4,027 |
|
Change in Financial Debt |
(8,740) |
|
Cash Dividends |
(6,864) |
|
Financing cash inflow /(outflow) |
(15,977) |
|
Cumulative translation adjustments |
(407) |
|
Net Cash |
3,847 |
|
Beginning cash balance |
17,950 |
|
Ending cash balance |
21,796 |
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