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WPG (TWSE:3702) 2022 First Quarter Consolidated Sales, Operating Income, Net Income and EPS exceeding forecast and hitting record high, ESG rating upgraded to 'BBB' which is the best in the distributor of semiconductor components globally

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WPG (TWSE:3702) 2022 First Quarter Consolidated Sales, Operating Income, Net Income and EPS exceeding forecast and hitting record high, ESG rating upgraded to 'BBB' which is the best in the distributor of semiconductor components globally

 

2022/05/10

 

WPG, the largest distributor of semiconductor components globally, announces 2022 First Quarter consolidated sales, operating income, net income and EPS exceeding forecast and hitting record high. Consolidated sales achieved NT$209.865 billion, +18.5% YoY. Operating income achieved NT$4.22 billion, +41.3% YoY. Net Income achieved NT$3.444 billion, +42.4% YoY. EPS was NT$2.05.

 

Benefited from growth in revenue, 2022 First Quarter key financial indicators Return on Equity (ROE) was 18.7%, and Return on Working Capital (ROWC) was 10.2%.

 

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 2022 Second Quarter, based on an exchange rate assumption of NT$29 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 1.7% to 1.9%, net income of NT$2.303 billion to NT$2.725 billion, EPS of NT$1.13 to NT$1.38.

 

While striving to increase profit and market share, WPG actively adopts ESG practices for sustainable development. Recently, MSCI Has Upgraded WPG’s ESG Rating to “BBB”, WPG becomes the best rating in the distributor of semiconductor components globally. Additionally, the result of Corporate Governance Evaluation Results also rises. The above reflect the recognition from domestic and foreign rating agencies for WPG's investing in ESG sustainable development.

 

Table: WPG Holdings Ltd. Consolidated Financial Statements for the year ended March 31, 2022 (In brief)

Units:NT$million

Income Statement

(year ended March 31, 2022)

 

Balance Sheet

(March 31, 2022)

Item

Amount

 

Item

Amount

Operating revenues

209,865

 

Current Assets

280,262

Cost of Goods Sold

(201,770)

 

Accounts receivables

150,304

Gross Profit

8,096

 

Inventories

99,474

Operating Expenses

(3,875)

 

Other assets

43,359

Operating income

4,220

 

Total Assets

323,620

Non-op Expenses

(48)

 

Current Liabilities

202,587

Profit Before Tax

4,173

 

Current Borrowing

100,625

Tax

(687)

 

Accounts payables

84,955

Minority & Others

(41)

 

LT Liabilities

40,165

Profit After tax

3,444

 

Total Liabilities

245,501

EPS - Common Stock (Note1)

2.05

 

Common Stock

16,791

Note1:Based on weighted average outstanding shares.

 

Total Equity

71,225

 

Cash Flow Statement

(year ended March 31, 2022)

Item

Amount

Income before Income Tax

4,173

Change in NWC

(20,127)

Operating cash inflow /(outflow)

(20,204)

Investment cash inflow /(outflow)

(1,393)

Change in Financial Debt

19,413

Financing cash inflow /(outflow)

19,201

Cumulative translation adjustments

2,868

Net Cash

473

Beginning cash balance

14,408

Ending cash balance

14,881

 

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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