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WPG (TWSE:3702) Reports 2021 First Quarter Consolidated Sales, Operating Income, Net Income and EPS Hitting Record High. Consolidated Sales, Operating Income and Net Income Achieved Double-Digit Growth 35.2% YoY, 36.3% YoY, and 45.8% YoY, Respectively. EP

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WPG (TWSE:3702) Reports 2021 First Quarter Consolidated Sales, Operating Income, Net Income and EPS Hitting Record High. Consolidated Sales, Operating Income and Net Income Achieved Double-Digit Growth 35.2% YoY, 36.3% YoY, and 45.8% YoY, Respectively. EPS was NT$1.44.

 

2021/05/13

 

WPG, the largest distributor of semiconductor components in Asia Pacific, announces 2021 First Quarter consolidated sales, operating income, and net income hitting record high. Consolidated sales achieved NT$177.115 billion, +35.2% YoY. Operating income achieved NT$2.986 billion, +36.3% YoY. Net Income achieved NT$2.419 billion, +45.8% YoY. EPS was NT$1.44.

 

2021 First Quarter key financial indicators Return on Working Capital (ROWC) and Return on Equity (ROE) were 9.5% and 14.5%, respectively.

 

The overall strong demand for semiconductor sensors, specifically laptops, PCs, mobile phones, communication components, servers, and cloud due to distance working and education as well as corporates’ continuous investment in digital transformation, are the major causes for record-high sales and net income.

 

For 2021 Second Quarter, based on an exchange rate assumption of NT$28.4 to the U.S. dollar, WPG forecasts consolidated revenue of NT$185 billion to NT$193 billion, gross margin of 3.6% to 3.8%, operating margin of 1.6% to 1.8%, net income of NT$2.347 billion to NT$2.743 billion, EPS of NT$1.16 to NT$1.4 after deducting NT$400 million preferred dividends.

 

Driven by 5G commercialization and IoT trends, application solutions in power, smart home 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, 29 application solutions were provided to our customers, including fields in Power (17), Consumption (3), Smart Home (2), Wearable Devices (2), Computer and related applications (2), Smart City (1), Automotive (1), Industrial (1) focusing on applications of 9W LED eco-friendly adjustable traffic lights, PD 65W power management, wireless charging solution, 48V electric car inverter,  24W-BLDC ceiling fan, 20W PD quick charging solutions, flight time sensor, social distance sensor, smart speaker module, TWS Bluetooth 5.1 earphones, USB to SATA/PCIe bridge storage & fingerprint encryption, LoRa wireless transmission board, touch button & slide touch application…etc.

 

Table: WPG Holdings Ltd. Consolidated Financial Statements for three months ended March 31, 2021 (In brief)

Units:NT$million

Income Statement

(three months ended March 31, 2021)

 

Balance Sheet

(March 31, 2021)

Item

Amount

 

Item

Amount

Operating revenues

177,115

 

Current Assets

236,295

Cost of Goods Sold

(170,544)

 

Accounts receivables

132,946

Gross Profit

6,571

 

Inventories

72,930

Operating Expenses

(3,585)

 

Other assets

36,217

Operating income

2,986

 

Total Assets

272,512

Non-op Expenses

(6)

 

Current Liabilities

177,822

Profit Before Tax

2,980

 

Current Borrowing

84,128

Tax

(524)

 

Accounts payables

80,458

Minority & Others

(37)

 

LT Liabilities

23,350

Profit After tax

2,419

 

Total Liabilities

203,924

EPS - Common Stock (Note1)

1.44

 

Common Stock

16,791

Note1:Based on weighted average outstanding shares.

 

Total Equity

68,588

 

Cash Flow Statement

(three months ended March 31, 2021)

Item

Amount

Income before Income Tax

2,980

Change in NWC

(19,911)

Operating cash inflow /(outflow)

(16,409)

Investment cash inflow /(outflow)

630

Change in Financial Debt

18,432

Financing cash inflow /(outflow)

18,434

Cumulative translation adjustments

176

Net Cash

2,830

Beginning cash balance

11,020

Ending cash balance

13,850

 

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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