20230228
WPG (TWSE:3702) Reports 2022 Consolidated Operating Income Hitting Record High, Net Income and EPS Hitting Second Record for the Year. 2022 EPS was NT$6.02
2023/02/28
WPG, the distributor of semiconductor components, announces 2022 consolidated sales of NT$775.232 billion hitting second record high for the year, under the effective control of expenses, operating income hitting record high, achieved NT$14.7 billion. Contributing from investment income and foreign exchange income, net income of NT$10.512 billion with EPS NT$6.02 hitting second record high for the year.
2022 key financial indicators Return on Equity (ROE) was 13.9%, Return on Working Capital (ROWC) was 9.7%.
The reasons for the revenue and net income growth is the downstream customers continuously invest in networking and peripheral equipment and server, growing demand for automation drives industrial electronics, and automotive electronics related non-3C applications remains strong. In addition, driven by North America and Southeast Asia customers have put into production, which has led to double-digit revenue growth in the regions. The reasons also drive the demand for semiconductor and related electronic components.
For 2023 first quarter, based on an exchange rate assumption of NT$30.7 to the U.S. dollar, WPG forecasts consolidated revenue of NT$145 billion to NT$155 billion, gross margin of 3.7% to 3.9%, operating margin of 1.45% to 1.59%, net income of NT$0.731 billion to NT$0.802 billion, EPS of NT$0.44 to NT$0.48.
Table: WPG Holdings Ltd. Consolidated Financial Statements for the year ended December 31, 2022 (In brief)
Units：NT$million
|
Income Statement (year ended December 31, 2022) |
|
Balance Sheet (December 31, 2022) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
775,232 |
|
Current Assets |
274,413 |
|
Cost of Goods Sold |
(745,644) |
|
Accounts receivables |
120,667 |
|
Gross Profit |
29,588 |
|
Inventories |
111,737 |
|
Operating Expenses |
(14,888) |
|
Other assets |
41,807 |
|
Operating income |
14,700 |
|
Total Assets |
316,220 |
|
Non-op Expenses |
(1,990) |
|
Current Liabilities |
197,056 |
|
Profit Before Tax |
12,710 |
|
Current Borrowing |
96,795 |
|
Tax |
(2,133) |
|
Accounts payables |
81,353 |
|
Minority & Others |
(65) |
|
LT Liabilities |
33,532 |
|
Profit After tax |
10,512 |
|
Total Liabilities |
234,306 |
|
EPS - Common Stock (Note1) |
6.02 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
81,913 |
|
|
Cash Flow Statement (year ended December 31, 2022) |
|
|
Item |
Amount |
|
Income before Income Tax |
12,710 |
|
Change in NWC |
(6,567) |
|
Operating cash inflow /(outflow) |
(6,088) |
|
Investment cash inflow /(outflow) |
(2,630) |
|
Change in Financial Debt |
8,951 |
|
Cash Dividends |
(6,277) |
|
Financing cash inflow /(outflow) |
2,051 |
|
Cumulative translation adjustments |
8,856 |
|
Net Cash |
2,189 |
|
Beginning cash balance |
14,408 |
|
Ending cash balance |
16,597 |
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
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