About WPG Korea

Home > About WPG Korea > WPG Holdings News

WPG (TWSE:3702) Reports 2021 Second Quarter Consolidated Sales, Operating Income, Net Income and EPS exceeding high range forecast and hitting record high. Consolidated Sales, Operating Income and Net Income Achieved 33.7% growth YoY, 41.5% growth YoY, an

20210810

WPG (TWSE:3702) Reports 2021 Second Quarter Consolidated Sales, Operating Income, Net Income and EPS exceeding high range forecast and hitting record high. Consolidated Sales, Operating Income and Net Income Achieved 33.7% growth YoY, 41.5% growth YoY, and 50.3% growth YoY, respectively. EPS was NT$1.66.

 

2021/08/10

 

WPG, the largest distributor of semiconductor components globally, announces 2021 Second Quarter consolidated sales, operating income, net income and EPS exceeding high range forecast and hitting record high. Consolidated sales achieved NT$200.226 billion, +33.7% YoY. Operating income achieved NT$3.642 billion, +41.5% YoY. Net Income achieved NT$3.188 billion, +50.3% YoY. EPS was NT$1.66.

Benefited from growth in revenue, 2021 Second Quarter key financial indicators Return on Equity (ROE) was 19.4%, hitting record high within 10 years. Return on Working Capital (ROWC) raised to 10.1%.

The overall strong demand for semiconductor and related electronic components specifically laptops, PCs, base stations, communication components, servers, and cloud are the major causes for record-high sales and net income.

For 2021 Third Quarter, based on an exchange rate assumption of NT$28 to the U.S. dollar, WPG forecasts consolidated revenue of NT$190 billion to NT$200 billion, gross margin of 3.7% to 3.9%, operating margin of 1.6% to 1.8%, net income of NT$2.562 billion to NT$2.989 billion, EPS of NT$1.53 to NT$1.78.

To achieve sustainable development and maximize shareholders’ equity, as the biggest semiconductor components distributor globally, WPG examines all aspects of sustainable development comprehensively and deploys various actions ahead of peer. To strengthen corporate governance, board resolution quality and board diversity, one female independent director was added to the board at 2021 AGM, Chief Sustainability Officer was appointed in early 2021, and full attention was paid to global risks. “Employee Stock Ownership Trust” (ESOT) was introduced to assist our employees with their retirements plans as well as to enhance ownership culture that results in the continued success of WPG. Over 90% of eligible employees have participated. Additionally, in response to climate crisis and the Paris Agreement, WPG pledged to achieve Net Zero Emissions by 2050 and Net Zero in own operations including office buildings and warehouses by 2030 at 2021 AGM to strengthen climate change governance. To restore our Earth and build sustainable supply chain together with all partners along the value chain, WPG would continue increase energy efficiency, reduce carbon emission, increase renewable energy usage, as well as promote industry-wise green transition.

 

Table: WPG Holdings Ltd. Consolidated Financial Statements for the six months ended June 30, 2021 (In brief)

Units:NT$million

Income Statement

(six months ended June 30, 2021)

 

Balance Sheet

(June 30, 2021)

Item

Amount

 

Item

Amount

Operating revenues

377,341

 

Current Assets

253,568

Cost of Goods Sold

(362,740)

 

Accounts receivables

150,288

Gross Profit

14,601

 

Inventories

77,685

Operating Expenses

(7,973)

 

Other assets

40,664

Operating income

6,628

 

Total Assets

294,232

Non-op Expenses

336

 

Current Liabilities

200,109

Profit Before Tax

6,964

 

Current Borrowing

96,503

Tax

(1,269)

 

Accounts payables

83,245

Minority & Others

(89)

 

LT Liabilities

24,490

Profit After tax

5,607

 

Total Liabilities

227,757

EPS - Common Stock (Note1)

3.10

 

Common Stock

16,791

Note1:Based on weighted average outstanding shares.

 

Total Equity

66,475

 

Cash Flow Statement

(six months ended June 30, 2021)

Item

Amount

Income before Income Tax

6,964

Change in NWC

(39,337)

Operating cash inflow /(outflow)

(29,325)

Investment cash inflow /(outflow)

(31)

Change in Financial Debt

31,948

Financing cash inflow /(outflow)

32,252

Cumulative translation adjustments

(2,018)

Net Cash

878

Beginning cash balance

11,020

Ending cash balance

11,898

 

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

Contact