Record High! WPG (TSE:3702) Reported Its Record High in Consolidated Operating Income, Net Income and Operating Cash inflow of 2017. EPS was NT$4.09
Record High! WPG (TSE:3702) Reported Its Record High in Consolidated Operating Income, Net Income and Operating Cash inflow of 2017. EPS was NT$4.09
2018/02/06
Benefited from growing shipments of mobile phone, computer, automotives and cloud product, WPG, the largest distributor of semiconductor components in Asia, announced Its record high in consolidated operating income and net income of 2017. Despite the impact of NT dollar’s recent appreciation, Ytd consolidated sales totaled NT$532.462 billion still set second record high. With optimizing product portfolios and efficient expense control, operating margin grew to 1.87%, hit record high since 2012 and drive operating income, net income and operating cash inflow of 2017 hit record high. Operating income and net income reached NT$9.95 billion and NT$7.299 billion, represented 24.7% and 37.4% double-digit growth year over year respectively, operating cash inflow was NT$8.1 billion. EPS was NT$4.09 per share.
Consolidated sales of fourth quarter was NT$138.413 billion, operating income was NT$2.617 billion, net income was NT$1.636 billion. EPS was NT$0.9 per share.
Based on the exchange rate assumption of 1 US dollar to 29 NT dollars, management guides the total sales of first quarter 2018 will be between NT$108 billion and NT$120 billion, with the gross margin in the range of 4.1%~4.3% and the operating margin between 1.74%~1.85%.
The profit growth has been delivered by continued growing demand of 4G and 3G smart phone, wireless broadband, and cloud servers. Non-3C segments’ contribution such as automotives, industrial electronics and power saving remained healthy. With increased profit and improving operating efficiency, key financial indices: Return on Working Capital (ROWC) and ROE was 10% and 14.4% respectively.
In the fourth quarter of 2017, driven by the IoT, 54 application solutions were provided in the fields of Power (16), Automotive (11), Smart Home (9), Smart City (7), Security (3), USB (3), Industrial (2), Wearable devices (2), LED (1), focusing on applications of digital power, PPS, converter with USB power delivery, series resonant converters with a secondary-side resonant tank, quick charge, 5 port ethernet switch, TPMS sensor, 77GHz millimeter-wave radar, 400W phase shifted full bridge converter, smart door lock, RFID entry access control, Airbox sensor for PM2.5, security surveillance IP camera, USB-C power adapter.
Table: WPG Holdings Consolidated Management Financials for the year ended December 31, 2017. (In brief)
Units：NT$million
|
Income Statement (2017/1/1~2017/12/31) |
|
Balance Sheet (2017/12/31) |
||
|
Item |
Amount |
|
Item |
Amount |
|
Operating revenues |
532,462 |
|
Current Assets |
163,600 |
|
Cost of Goods Sold |
(510,105) |
|
Accounts receivables |
91,649 |
|
Gross Profit |
22,357 |
|
Inventories |
56,625 |
|
Operating Expenses |
(12,408) |
|
Other assets |
14,823 |
|
Operating income |
9,950 |
|
Total Assets |
178,423 |
|
Non-op Expenses |
(1,037) |
|
Current Liabilities |
113,260 |
|
Profit Before Tax |
8,913 |
|
Current Borrowing |
58,049 |
|
Tax |
(1,555) |
|
Accounts payables |
48,486 |
|
Minority & Others |
(58) |
|
LT Liabilities |
11,938 |
|
Profit After tax |
7,299 |
|
Total Liabilities |
126,334 |
|
EPS (Note1) |
4.09 |
|
Common Stock |
18,251 |
|
Net book value per share (Note 1) |
28.25 |
|
Total Equity |
52,089 |
Note1：Based on weighted average outstanding shares.
|
Cash flows (2017/1/1~2017/12/31) |
|
|
Item |
Amount |
|
Income before Income Tax |
8,913 |
|
Change in NWC |
(5,342) |
|
Operating cash inflow /(outflow) |
8,110 |
|
Investment cash inflow /(outflow) |
(420) |
|
Change in Financial Debt |
337 |
|
Cash Dividend |
(4,178) |
|
Financing cash inflow /(outflow) |
(3,858) |
|
Cumulative translation adjustments |
(5,186) |
|
Net Cash |
(1,354) |
|
Beginning cash balance |
8,457 |
|
Ending cash balance |
7,103 |
|
1Q18 Forecast |
|||
|
Item |
Amount |
||
|
Revenue |
108,000 |
~ |
120,000 |
|
Gross Profit |
4,428 |
~ |
5,160 |
|
Gross Margin |
4.10% |
~ |
4.30% |
|
Operating Expenses |
2,536 |
~ |
2,955 |
|
Operating Income |
1,892 |
~ |
2,205 |
|
Operating Margin |
1.75% |
~ |
1.84% |
|
Profit Before Tax |
1,499 |
~ |
1,769 |
|
Profit After Tax |
1,183 |
~ |
1,399 |
|
EPS (NT$) (Note 1) |
0.65 |
~ |
0.77 |
Note1：Based on weighted average outstanding shares.
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