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WPG (TWSE:3702) Reported Its First Half of 2017 Net income of NT$3.637 Billion, +17% YoY, Set First Half-Year Record High. EPS was NT$2.09.

20170801

WPG (TWSE:3702) Reported Its First Half of 2017 Net income of NT$3.637 Billion, +17% YoY, Set First Half-Year Record High. EPS was NT$2.09.

 

2017/08/01

 

Benefited from growing business of mobile phone, automotives, power saving and cloud services related products, WPG, the largest distributor of semiconductor components in Asia, announced its second quarter consolidated sales of NT$128.408 billion, represented 7.9% increase over previous quarter’s figures. With optimizing product portfolios and efficient expense control, operating income was NT$2.342 billion, represented 3.6% increase over previous year. Contribution from FX gains about NT$0.11 billion and bad debts recovered about NT$0.083 billion, net income grew 15.3% to NT$1.791 billion. EPS was NT$1.02 per share.

Despite the impact of NT dollar’s recent appreciation, net income hit first half-year record high reached NT$3.637 billion, represented 17% increase year over year, while consolidated sales totaled NT$247.382 billion, represented 3.1% decrease year over year. EPS was NT$2.09 per share.

The profit growth has been delivered by continued growing demand of 4G and 3G smart phone, wireless broadband, and cloud servers. Non-3C segments’ contribution such as automotives, industrial electronics and power saving remained healthy. With increased profit and improving operating efficiency, operating cash inflow of second quarter was NT$1.926 billion. Key financial indices: Return on Working Capital (ROWC) and ROE was 9.7% and 14.6% respectively.

In the second quarter of 2017, driven by the widespread application of IoT, 57 application solutions were provided in the fields of Automotive (19), Power (10), Smart phone (9), Security (9),  Lighting (6), Smart Home (3), Wearable devices (1), focusing on applications of charging station controlled by Wechat Pay, NFC car door control, QC3.0 quick charger, bluetooth wireless charger for smartphone, smartphone NFC reader, cloud IP camera, pet house temperature/humidity sensor, ZigBee light link, bluetooth smart door lock, cuffless blood pressure monitor.

 

 

 Table: WPG Holdings Consolidated Management Financial results for the year ended June 30, 2017. (In brief)

Units:NT$million

Income Statement (2017/1/1~2017/6/30)

 

Balance Sheet (2017/6/30)

Item

Amount

 

Item

Amount

Operating revenues

247,382

 

Current Assets

163,363

Cost of Goods Sold

(236,785)

 

Accounts receivables

86,041

Gross Profit

10,597

 

Inventories

59,477

Operating Expenses

(5,994)

 

Other assets

14,429

Operating income

4,603

 

Total Assets

177,792

Non-op Expenses

(131)

 

Current Liabilities

122,393

Profit Before Tax

4,472

 

Current Borrowing

62,498

Tax

(798)

 

Accounts payables

49,247

Minority & Others

(37)

 

LT Liabilities

5,157

Profit After tax

3,637

 

Total Liabilities

128,806

EPS (Note1)

2.09

 

Common Stock

18,109

Net book value per share (Note)

27.67

 

Total Equity

48,987

Note1:Based on weighted average outstanding shares.

 

Cash flows (2017/1/1~2017/6/30)

Item

Amount

Income before Income Tax

4,472

Change in NWC

(1,824)

Operating cash inflow /(outflow)

5,160

Investment cash inflow /(outflow)

(818)

Change in Financial Debt

(2,480)

Financing cash inflow /(outflow)

(2,380)

Cumulative translation adjustments

(3,764)

Net Cash

(1,802)

Beginning cash balance

8,457

Ending cash balance

6,655

 

IR contacts:Cliff Yuan/ Zoe Peng

Tel:886-2-7712-5268 / 886-2-7712-5262

Email address:  ir@WPGholdings.com

Corporate website:  www.WPGholdings.com

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