Semiconductor Distributor - WPG (TSE:3702) Announces 2008 Consolidated Sales of NT$143.2 Billion (US$4.54 billion), Diluted EPS of NT$2.43
2009-02-13
Semiconductor Distributor - WPG (TSE:3702) Announces 2008 Consolidated Sales of NT$143.2 Billion (US$4.54 billion), Diluted EPS of NT$2.43
Generated Recorded Operation Cash Inflow NT$5.8 Billion (US$177 million)
Announcement Date：2009/2/13
Taipei, Taiwan
WPG, the largest distributor of semiconductor components in Asia, announced 2008 consolidated sales of NT$143.2 billion (US$4.54 billion), mainly driven by the demand of 3C products, such as Netbook, mobile phone and consumer electronics, in emerging markets. Net income for 2008 was NT$1.86 billion (US$59 million), and NT$2.43 per share on a diluted basis.
Due to profit earned, operating cash requirement decreases and effective inventory management, 2008 Return on Working Capital (ROWC), the key financial performance index, was 13.83%, and ROE was 12.59%. In the forth quarter of 2008, the company generated NT$3.2 billion (US$98 million) positive cash flow and NT5.8 billion (US$177 million) for the whole year, which drives tremendous improvement on WPG financial structure and asset liquidity, thereby allowing it maintains a very strong liquidity position.
“WPG has acquired Pernas in the third quarter of 2008, by its strong performance in passive and LED markets, it has made more than 4% profit contribution to the group in 2008” said Simon Huang, chairman and president. “In addition, the acquisition of AIT has been effective from February 6th, 2009, looking ahead, with its turnover and profit contribution, there is no doubt that we will leverage our economics of scale and the market share in Asia-Pacific region, and we are confident of the continuing delivery of our profitability and returns to the shareholders.”
Scott Lin, vice president of marketing management unit, sated, “to diversify the product mix and penetrating new markets, WPG has new franchises of Amotech, Grenergy Opto, TXC Corporation and TA-I Technology, increasing the component sales applied to 3C and energy saving applications.”
WPG January 2009 consolidated sales of NT$8.61 billion (US$259 Million), down 5.85% as compared with the previous month. Sales growth is mainly driven by the Asia Pacific and China emerging domestic markets. The sales breakdown by region was as follows: 75% from China (incl. HK), 13% from Taiwan, 9% from ASEAN and 1% from others.
The sales breakdown by product category was as follows: 46% from core chips (CPU, MPU, chipsets), 27% from standard chips (logic, analog/linear, discrete and ASSP), 10% from memory chips (DRAM, SRAM, Flash, EEPROM), 4% from passive components, and 13% from others.
Table: WPG Holdings Consolidated Management Financials for the quarter ended December 31, 2008. (in brief)
Units：NT$ million
Income Statement (2008/1/1~2008/12/31)Balance Sheet (2008/1/1~2008/12/31)
ItemAmountItemAmount
Net Sales143,194Current Assets40,265
Cost of Goods Sold(135,001) Accounts receivables16,924
Gross Profit8,193 Inventory13,990
Operating Expenses(4,946)Funds & LT Investment743
Operating Profit3,247Fixed Assets1,610
Non-op Expenses(726)Total Assets43,062
Profit Before Tax2,521Current Liabilities23,602
Tax(641) Accounts payables8,839
Minority & Others(20)LT Liabilities4,419
Profit After tax1,860Total Liabilities28,286
EPS (Note)2.43Common Stock7,750
Net book value per share(Note)19.33Stockholders Equity14,776
Note：Based on weighted average outstanding shares.
Cash flows (2008/1/1~2008/12/31)
ItemAmount
Net Income1,880
Changes of NWC4,497
Adjustment & Others(569)
Operating cash inflow5,808
Financial Instrument590
Capital Expenditure(138)
Others(64)
Investment cash inflow388
Financial Debt(2,755)
Cash Dividends(1,567)
ESOP37
Others214
Financing cash outflow(4,071)
Cumulative translation adjustments91
Effect on changes of consolidated subsidiaries180
Net Cash 2,125
Beginning cash balance3,977
Ending cash balance 6,372
IR contacts：Cliff Yuan/ Kathryn Chen
Tel：886-2-27068268 ext.5268 DID: 886-2-7712-5268 / 886-2-27068268 ext.5278 DID: 886-2-7712-5278
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com
Generated Recorded Operation Cash Inflow NT$5.8 Billion (US$177 million)
Announcement Date：2009/2/13
Taipei, Taiwan
WPG, the largest distributor of semiconductor components in Asia, announced 2008 consolidated sales of NT$143.2 billion (US$4.54 billion), mainly driven by the demand of 3C products, such as Netbook, mobile phone and consumer electronics, in emerging markets. Net income for 2008 was NT$1.86 billion (US$59 million), and NT$2.43 per share on a diluted basis.
Due to profit earned, operating cash requirement decreases and effective inventory management, 2008 Return on Working Capital (ROWC), the key financial performance index, was 13.83%, and ROE was 12.59%. In the forth quarter of 2008, the company generated NT$3.2 billion (US$98 million) positive cash flow and NT5.8 billion (US$177 million) for the whole year, which drives tremendous improvement on WPG financial structure and asset liquidity, thereby allowing it maintains a very strong liquidity position.
“WPG has acquired Pernas in the third quarter of 2008, by its strong performance in passive and LED markets, it has made more than 4% profit contribution to the group in 2008” said Simon Huang, chairman and president. “In addition, the acquisition of AIT has been effective from February 6th, 2009, looking ahead, with its turnover and profit contribution, there is no doubt that we will leverage our economics of scale and the market share in Asia-Pacific region, and we are confident of the continuing delivery of our profitability and returns to the shareholders.”
Scott Lin, vice president of marketing management unit, sated, “to diversify the product mix and penetrating new markets, WPG has new franchises of Amotech, Grenergy Opto, TXC Corporation and TA-I Technology, increasing the component sales applied to 3C and energy saving applications.”
WPG January 2009 consolidated sales of NT$8.61 billion (US$259 Million), down 5.85% as compared with the previous month. Sales growth is mainly driven by the Asia Pacific and China emerging domestic markets. The sales breakdown by region was as follows: 75% from China (incl. HK), 13% from Taiwan, 9% from ASEAN and 1% from others.
The sales breakdown by product category was as follows: 46% from core chips (CPU, MPU, chipsets), 27% from standard chips (logic, analog/linear, discrete and ASSP), 10% from memory chips (DRAM, SRAM, Flash, EEPROM), 4% from passive components, and 13% from others.
Table: WPG Holdings Consolidated Management Financials for the quarter ended December 31, 2008. (in brief)
Units：NT$ million
Income Statement (2008/1/1~2008/12/31)Balance Sheet (2008/1/1~2008/12/31)
ItemAmountItemAmount
Net Sales143,194Current Assets40,265
Cost of Goods Sold(135,001) Accounts receivables16,924
Gross Profit8,193 Inventory13,990
Operating Expenses(4,946)Funds & LT Investment743
Operating Profit3,247Fixed Assets1,610
Non-op Expenses(726)Total Assets43,062
Profit Before Tax2,521Current Liabilities23,602
Tax(641) Accounts payables8,839
Minority & Others(20)LT Liabilities4,419
Profit After tax1,860Total Liabilities28,286
EPS (Note)2.43Common Stock7,750
Net book value per share(Note)19.33Stockholders Equity14,776
Note：Based on weighted average outstanding shares.
Cash flows (2008/1/1~2008/12/31)
ItemAmount
Net Income1,880
Changes of NWC4,497
Adjustment & Others(569)
Operating cash inflow5,808
Financial Instrument590
Capital Expenditure(138)
Others(64)
Investment cash inflow388
Financial Debt(2,755)
Cash Dividends(1,567)
ESOP37
Others214
Financing cash outflow(4,071)
Cumulative translation adjustments91
Effect on changes of consolidated subsidiaries180
Net Cash 2,125
Beginning cash balance3,977
Ending cash balance 6,372
IR contacts：Cliff Yuan/ Kathryn Chen
Tel：886-2-27068268 ext.5268 DID: 886-2-7712-5268 / 886-2-27068268 ext.5278 DID: 886-2-7712-5278
Email address: ir@WPGholdings.com
Corporate website: www.WPGholdings.com