WPG (TSE:3702) Reports 2009 Consolidated Sales of NT$197 Billion (US$5.96 billion), 37.5% YoY Growth
2010-02-02
WPG (TSE:3702) Reports 2009 Consolidated Sales of NT$197 Billion (US$5.96 billion), 37.5% YoY Growth
Taipei, Taiwan
2010/2/2
WPG, the largest distributor of semiconductor components in Asia, announced 2009 consolidated sales of NT$197 billion (US$5.96 billion), increased 37.5% year over year. Net income of 2009 was NT$3.48 billion (US$105.48 million), representing 89.2% growth over the previous year, and NT$3.94 per share on a diluted basis.
“The 2009 results exceeded our own high expectations, the execution was great, the profit has been delivered on the sustainable growth in 3C electronics and energy saving products,” said Simon Huang, chairman and president. “Due to profit earned and effective inventory management, 2009 Return on Working Capital (ROWC) was 17%, and ROE was 19.89% both broke the records, inventory turnover in days remained at healthy level around 30 days.”
“Looking ahead, we believe the first quarter would be slightly better than normal seasonality, that total first quarter sales will be between NT$510 billion and NT$ 540 billion, with the growth margin in the range of 5.3%~5.5% and we expect the average operating margin is 2.1%~2.3%,” said Cliff Yuan, vice president of corporate finance and accounting.
WPG Electronics (HK) Limited, the logistic center of WPG in HK, won Hong Kong Logistics Award for Medium-sized Enterprise in November 2009 (http://info.hktdc.com/lahk/). “WPG has continuously excelled our service standard and even exceeded customers’ expectation” stated Cooper Hsieh, vice president of corporate information and logistic management unit. “Our target is to be the best logistics service provider in the region.”
“In addition to Samsung Electro-Mechanics, CSR, Panasonic and PixArt carried by Prenas and AIT, to diversify the product mix and penetrate new markets, WPG has increased our component sales applied to 4C (Computer/ Communication/ Consumer/ Car) applications,” stated Scott Lin, vice president of marketing management unit. ” WPG has occupied a unique, value-added space in the supply chain, with growth opportunities across many customer segments, end markets and technologies, in the third quarter, we have provided more than 27 application solutions in the fields of computer(1), communication(4), consumer electronics(11), automotive(7) and general(4), focusing on applications of LCD TV, LED, 3G and touch panel (for more information please visit WPG Tech on-line, https://www.wpgholdings.com/wpgtechonline.php).”
Table: WPG Holdings Consolidated Management Financials for the quarter ended Dec. 31, 2009. (in brief)
Units：NT$ million
Income Statement (2009/1/1~2009/12/31)
ItemAmount
Net Sales196,962
Cost of Goods Sold(185,828)
Gross Profit11,134
Operating Expenses(6,639)
Operating Profit4,495
Non-op Expenses13
Profit Before Tax4,508
Tax(1,020)
Minority & Others(4)
Profit After tax3,484
EPS (Note)3.94
Net book value per share(Note)22.80
Note：Based on weighted average outstanding shares.
Balance Sheet (2009/1/1~2009/12/31)
ItemAmount
Current Assets56,430
Accounts receivables29,649
Inventory15,411
Other assets2,966
Total Assets59,396
Current Liabilities34,146
Accounts payables18,620
LT Liabilities4,643
Total Liabilities39,129
Common Stock8,944
Stockholders Equity20,267
Cash flows (2009/1/1~2009/12/31)
Item Amount
Net Income 3,484
Changes of NWC (764)
Operating cash inflow3,017
Investment cash inflow 670
Financial Debt (2,527)
Financing cash outflow (3,724)
Cumulative translation
adjustments 703
Effect on changes of
consolidated subsidiaries(440)
Net Cash 226
Beginning cash balance6,089
Ending cash balance6,315
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
Taipei, Taiwan
2010/2/2
WPG, the largest distributor of semiconductor components in Asia, announced 2009 consolidated sales of NT$197 billion (US$5.96 billion), increased 37.5% year over year. Net income of 2009 was NT$3.48 billion (US$105.48 million), representing 89.2% growth over the previous year, and NT$3.94 per share on a diluted basis.
“The 2009 results exceeded our own high expectations, the execution was great, the profit has been delivered on the sustainable growth in 3C electronics and energy saving products,” said Simon Huang, chairman and president. “Due to profit earned and effective inventory management, 2009 Return on Working Capital (ROWC) was 17%, and ROE was 19.89% both broke the records, inventory turnover in days remained at healthy level around 30 days.”
“Looking ahead, we believe the first quarter would be slightly better than normal seasonality, that total first quarter sales will be between NT$510 billion and NT$ 540 billion, with the growth margin in the range of 5.3%~5.5% and we expect the average operating margin is 2.1%~2.3%,” said Cliff Yuan, vice president of corporate finance and accounting.
WPG Electronics (HK) Limited, the logistic center of WPG in HK, won Hong Kong Logistics Award for Medium-sized Enterprise in November 2009 (http://info.hktdc.com/lahk/). “WPG has continuously excelled our service standard and even exceeded customers’ expectation” stated Cooper Hsieh, vice president of corporate information and logistic management unit. “Our target is to be the best logistics service provider in the region.”
“In addition to Samsung Electro-Mechanics, CSR, Panasonic and PixArt carried by Prenas and AIT, to diversify the product mix and penetrate new markets, WPG has increased our component sales applied to 4C (Computer/ Communication/ Consumer/ Car) applications,” stated Scott Lin, vice president of marketing management unit. ” WPG has occupied a unique, value-added space in the supply chain, with growth opportunities across many customer segments, end markets and technologies, in the third quarter, we have provided more than 27 application solutions in the fields of computer(1), communication(4), consumer electronics(11), automotive(7) and general(4), focusing on applications of LCD TV, LED, 3G and touch panel (for more information please visit WPG Tech on-line, https://www.wpgholdings.com/wpgtechonline.php).”
Table: WPG Holdings Consolidated Management Financials for the quarter ended Dec. 31, 2009. (in brief)
Units：NT$ million
Income Statement (2009/1/1~2009/12/31)
ItemAmount
Net Sales196,962
Cost of Goods Sold(185,828)
Gross Profit11,134
Operating Expenses(6,639)
Operating Profit4,495
Non-op Expenses13
Profit Before Tax4,508
Tax(1,020)
Minority & Others(4)
Profit After tax3,484
EPS (Note)3.94
Net book value per share(Note)22.80
Note：Based on weighted average outstanding shares.
Balance Sheet (2009/1/1~2009/12/31)
ItemAmount
Current Assets56,430
Accounts receivables29,649
Inventory15,411
Other assets2,966
Total Assets59,396
Current Liabilities34,146
Accounts payables18,620
LT Liabilities4,643
Total Liabilities39,129
Common Stock8,944
Stockholders Equity20,267
Cash flows (2009/1/1~2009/12/31)
Item Amount
Net Income 3,484
Changes of NWC (764)
Operating cash inflow3,017
Investment cash inflow 670
Financial Debt (2,527)
Financing cash outflow (3,724)
Cumulative translation
adjustments 703
Effect on changes of
consolidated subsidiaries(440)
Net Cash 226
Beginning cash balance6,089
Ending cash balance6,315
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