20230511
WPG (TWSE:3702) Reports 2023 First Quarter Net Income of NT$0.685 billion. EPS was NT$0.41
2023/05/11
WPG, the distributor of semiconductor components, announces 2023 first quarter consolidated sales achieved NT$144.754 billion, -18% QoQ. Operating income achieved NT$1.941 billion, -38.3% QoQ. Net income achieved NT$0.685 billion, -51.4% QoQ. EPS was NT$0.41.
Due to sustained profitability and effective working capital management, 2023 first quarter operating cash inflow achieved NT$15.418 billion, net cash inflow of more than NT$42 billion for two consecutive quarters, leading to significant improvement in the company’s financial structure and cash position. 2023 first quarter key financial indicators Return on Equity (ROE) was 3.4%, Return on Working Capital (ROWC) was 5.7%.
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, North America and Southeast Asia customers have put into production, driving demand for semiconductor and related electronic components.
For 2023 second quarter, based on an exchange rate assumption of NT$30.4 to the U.S. dollar, WPG forecasts consolidated revenue of NT$142 billion to NT$152 billion, gross margin of 3.7% to 3.9%, operating margin of 1.3 % to 1.45%, net income of NT$1.898 billion to NT$2.103 billion, EPS of NT$0.89 to NT$1.01.
WPG actively cultivates the ESG field and holds a leading position in the global semiconductor component distribution industry. After achieving an upgrade in MSCI ESG rating from BBB to A, WPG has once again been recognized for its exceptional performance by ranking in the top 5% of the 9th Corporate Governance Evaluation. This demonstrates high recognition from both international rating agencies and domestic evaluation institutions for WPG's commitment to ESG sustainable management.
Table: WPG Holdings Ltd. Consolidated Financial Statements for the year ended March 31, 2023 (In brief)
Units：NT$million
|
Income Statement (year ended March 31, 2023) |
|
Balance Sheet (March 31, 2023) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
144,754 |
|
Current Assets |
241,092 |
|
Cost of Goods Sold |
(139,134) |
|
Accounts receivables |
101,015 |
|
Gross Profit |
5,619 |
|
Inventories |
103,038 |
|
Operating Expenses |
(3,678) |
|
Other assets |
42,835 |
|
Operating income |
1,941 |
|
Total Assets |
283,927 |
|
Non-op Expenses |
(1,075) |
|
Current Liabilities |
168,402 |
|
Profit Before Tax |
866 |
|
Current Borrowing |
83,985 |
|
Tax |
(171) |
|
Accounts payables |
68,736 |
|
Minority & Others |
(11) |
|
LT Liabilities |
29,227 |
|
Profit After tax |
685 |
|
Total Liabilities |
201,269 |
|
EPS - Common Stock (Note1) |
0.41 |
|
Common Stock |
16,791 |
|
Note1：Based on weighted average outstanding shares. |
|
Total Equity |
82,657 |
|
|
Cash Flow Statement (year ended March 31, 2023) |
|
|
Item |
Amount |
|
Income before Income Tax |
866 |
|
Change in NWC |
15,526 |
|
Operating cash inflow /(outflow) |
15,418 |
|
Investment cash inflow /(outflow) |
439 |
|
Change in Financial Debt |
(17,115) |
|
Financing cash inflow /(outflow) |
(17,170) |
|
Cumulative translation adjustments |
(984) |
|
Net Cash |
(2,296) |
|
Beginning cash balance |
16,597 |
|
Ending cash balance |
14,301 |
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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