WPG (TSE:3702) Reports Its 2014 Consolidated Sales Exceeds NT$450 Billion and Its Record High of Net Income Reaches NT$5.791 Billion. EPS Was NT$3.5.
WPG (TSE:3702) Reports Its 2014 Consolidated Sales Exceeds NT$450 Billion and Its Record High of Net Income Reaches NT$5.791 Billion. EPS Was NT$3.5.
Date: 2015/02/03
Taipei, Taiwan
Benefited from increased markets demand combined with growing shipments of communication-related components, automotives, industrial electronics, and cloud applications, WPG, the largest distributor of semiconductor components in Asia, announced Its 2014 consolidated sales, Operating income and net income set the group’s record high, 2014 Consolidated sales reached NT$452.567 billion. Under effective expense control, Operating income and net income increased 26.2% and 21.8% to NT$7.937 billion and NT$5.791 billion respectively. EPS was NT$3.5 per share, represented 22% increase over previous year’s NT$2.87 per share.
Consolidated sales of fourth quarter was NT$117.171 billion, Operating income was NT$1.776 billion, net income was NT$1.33 billion, represented 5.3%, 23.1% and 32.3% growth year over year. EPS was NT$0.80 per share, represented 32% increase over previous year’s NT$0.61 per share.
The profit growth has been delivered by domestic demand of emerging markets. Contribution of 3C products such as mid to high-end smart phone, tablet, wireless broadband, cloud servers and televisions were continued growing. Non-3C segments’ contribution such as automotives and industrial electronics remained healthy. With increased profit and improving operating efficiency, 2014 Key financial indices: Return on Working Capital (ROWC) and ROE was 9.0% and 13.6% respectively.
Management guides the total sales of first quarter 2015 will be between NT$108 billion and NT$113 billion, with the gross margin in the range of 4.4%~4.7% and the operating margin between 1.6%~1.8%.
In the fourth quarter of 2014, 76 application solutions were provided in the fields of Smart phone (15), Power (14), Wearable devices (12), MID(11), Industrial (11), automotive (10), Energy (3), focusing on applications of NFC/LTE Soc smart phones, lithium battery quick charging, digital power, wearable devices, wearable devices with WeChat API, quad-core tablet, Industrial computer and server, GPS Tracker, solar micro-inverter.
Table: WPG Holdings Consolidated Management Financials for the year ended December 31, 2014. (in brief)
Units：NT$ million
Income Statement (2014/1/1~2014/12/31) Balance Sheet (2014/12/31)
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
452,567 |
|
Current Assets |
144,106 |
|
Cost of Goods Sold |
(432,077) |
|
Accounts receivables |
82,015 |
|
Gross Profit |
20,490 |
|
Inventories |
45,535 |
|
Operating Expenses |
(12,553) |
|
Other assets |
13,928 |
|
Operating income |
7,937 |
|
Total Assets |
158,034 |
|
Non-op Expenses |
(834) |
|
Current Liabilities |
98,389 |
|
Profit Before Tax |
7,104 |
|
Current Borrowing |
52,967 |
|
Tax |
(1,308) |
|
Accounts payables |
38,899 |
|
Minority & Others |
(5) |
|
LT Liabilities |
13,791 |
|
Profit After tax |
5,791 |
|
Total Liabilities |
112,949 |
|
EPS (Note) |
3.50 |
|
Common Stock |
16,557 |
|
Net book value per share (Note) |
27.19 |
|
Total Equity |
45,084 |
Note：Based on weighted average outstanding shares.
Cash flows (2014/1/1~2014/12/31)
|
Item |
Amount |
|
Income before Income Tax |
7,104 |
|
Change in NWC |
(20,213) |
|
Operating cash inflow /(outflow) |
(13,448) |
|
Investment cash inflow /(outflow) |
179 |
|
Change in Financial Debt |
15,894 |
|
Financing cash inflow /(outflow) |
12,090 |
|
Cumulative translation adjustments |
2,937 |
|
Net Cash |
1,758 |
|
Beginning cash balance |
9,459 |
|
Ending cash balance |
11,216 |
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