WPG (TWSE:3702) Attend Online Investor Conference Held by KGI SECURITIES Today
WPG (TWSE:3702) Attend Online Investor Conference Held by KGI SECURITIES Today
2024/08/20
WPG announces 2024 second quarter revenue of NT$207.974 billion and operating income of NT$3.696 billion hitting record high and second highest quarterly record for the period, QoQ +14.3% and 13.6%, YoY +32.7% and 49.9%, respectively. After accounting for tax on undistributed surplus earnings, net income was NT$1.631 billion. EPS was NT$0.73. Revenue, operating income and net income for the first half of the year grew by 29.3%, 57.7% and 19.3%, reaching NT$389.877 billion, NT$6.949 billion, and NT$3.581 billion, respectively. EPS was NT$1.89, YoY +22.2%.
Return on Equity (ROE) and Return on Working Capital (ROWC) for the second quarter of 2024 were 7.6% and 8.5%, respectively.
Looking ahead to the third quarter of 2024, the demand for related electronic components will be boosted by positive factors such as the server business, the recovery in demand for laptops and mobile phones, and the continued production of customers in North America and Southeast Asia. Based on an exchange rate assumption of NT$32.5 to the U.S. dollar, WPG forecasts a median QoQ increase in revenue of 5.5% to NT$214.5 billion to NT$224.5 billion, gross margin of 3.5% to 3.7%, operating margin of 1.75% to 1.95%, with a median QoQ increase in operating income of 10% to NT$3.754 billion to NT$4.378 billion, and estimated net income of NT$1.749 billion to NT$2.101 billion, resulting in an estimated EPS of NT$1.04 to NT$1.25.
Driven by 5G commercialization and IoT trends, application solutions in power, Automotive and IoT related field continue to increase, laying solid foundation for future growth in sales. To provide better value-added service and increase market share, 47 application solutions were provided to our customers, including fields in Power (16), Automotive (11), Smart Home (6), AIoT(4), Industrial (4), Smart City (3), Consumer (2), Medical (1), focusing on 2SW Flyback applied to 240W USB PD3.1, Advanced quasi-resonant flyback high-efficiency high-density 15V/3A 45W GaN power supply, 45W AI industrial camera POE-PD isolated power supply, 30 KW Vienna PFC rectifier introductory reference design, 200W high-power buck converter, PEPS keyless entry, New energy vehicle water pump/fan, UWB Digital-Key Kit application, RGBI automotive touch ambient light, Automotive backlight board, SoC + image sensor to achieve AOV, AX3000 FEM, AI showcase, 2-megapixel IoT sensor, Multi-screen different display, Human-machine interface planning and design, Soundbar and waterproof bone conduction earphones, multi-core processor-based assistive cane for the visually impaired.
Table: WPG Holdings Ltd. Consolidated Financial Statements for the year ended June 30, 2024 (In brief)
Units：NT$million
|
Income Statement (year ended June 30, 2024) |
|
Balance Sheet (June 30, 2024) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
389,877 |
|
Current Assets |
319,725 |
|
Cost of Goods Sold |
(375,318) |
|
Accounts receivables |
153,737 |
|
Gross Profit |
14,559 |
|
Inventories |
129,098 |
|
Operating Expenses |
(7,610) |
|
Other assets |
45,672 |
|
Operating income |
6,949 |
|
Total Assets |
365,397 |
|
Non-op Expenses |
(2,268) |
|
Current Liabilities |
228,381 |
|
Profit Before Tax |
4,681 |
|
Current Borrowing |
114,898 |
|
Tax |
(1,038) |
|
Accounts payables |
109,033 |
|
Minority & Others |
(62) |
|
LT Liabilities |
25,060 |
|
Profit After tax |
3,581 |
|
Total Liabilities |
276,394 |
|
EPS - Common Stock (Note1) |
1.89 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
89,003 |
|
|
Cash Flow Statement (year ended June 30, 2024) |
|
|
Item |
Amount |
|
Income before Income Tax |
4,681 |
|
Change in NWC |
(25,106) |
|
Operating cash inflow /(outflow) |
(25,270) |
|
Investment cash inflow /(outflow) |
(1,416) |
|
Change in Financial Debt |
17,709 |
|
Financing cash inflow /(outflow) |
17,541 |
|
Cumulative translation adjustments |
4,434 |
|
Net Cash |
(4,711) |
|
Beginning cash balance |
21,796 |
|
Ending cash balance |
17,085 |
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