WPG Holdings Reported Record High Consolidated Sales and Operating Cash Inflow for 2016

By WPG AmericasFebruary 8, 2017

WPG Holdings (TSE:3702) Reported Its Record High in Consolidated Sales of NT$536.864 Billion and Operating Cash Inflow of NT$7.5 Billion for 2016. EPS was NT$3.2

 

02/07/2017

Benefited from growing shipments of mobile phone, automotives, power saving and American cloud product, WPG Holdings, the largest distributor of semiconductor components in Asia, announced record highs in consolidated sales of NT$536.864 billion, second record-high in operating income of NT$7.969 billion, net income of NT$5.347 billion and EPS of NT$3.2 for 2016.

In fourth-quarter, consolidated sales was NT$139.313 billion, a 2.1% decrease year over year.

After recognizing overdue debts for the fourth quarter in accordance with accounting conservatism principle, operating income and net income was NT$0.92 billion and NT$0.372 billion respectively, with an EPS of NT$0.22. Due to all overdue debts recognized in 2016, performance for 2017 will become normal. (In addition to consolidated sales and operating cash inflow, operating income and net income would set record high after excluded the effect on the profit).

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, operating cash inflow of 2016 was NT$7.5 billion, set record high. Key financial indices: Return on Working Capital (ROWC) and ROE was 8.4% and 10.9% respectively.

In the fourth quarter of 2016, driven by IoT, 101 application solutions were provided in the fields of Smart Home (31), Automotive (25), Smart City (17), Wearable devices (15), Virtual Reality(4), Medical (3), Industrial(2), Computer (2), Smart phone (1), USB(1), focusing on applications of LoRa technology, gas sensor, smart lock, humidity & temperature sensor, electric curtain, smart heater, ADAS, in-vehicle infotainment system, driving video recorder, smart rearview mirror with quard core, DC charger, GPS tracker, smart robot, BLE electronic shelf, gesture recognition, six-axis drone, BLE POS, smart windbreaker, VR sensor Hub, wireless heart rate monitor, fingerprint recognition.

Table: WPG Holdings Consolidated Management Financials for the year ended December 31, 2016. Units:NT$million

Income Statement (1/1/2016~12/31/2016)

 

Balance Sheet (12/31/2016)

Item

Amount

 

Item

Amount

Operating revenues

536,864

 

Current Assets

163,819

Cost of Goods Sold

(514,248)

 

Accounts receivables

92,469

Gross Profit

22,616

 

Inventories

48,845

Operating Expenses

(14,647)

 

Other assets

13,696

Operating income

7,969

 

Total Assets

177,516

Non-op Expenses

(1,247)

 

Current Liabilities

120,516

Profit Before Tax

6,722

 

Current Borrowing

67,696

Tax

(1,337)

 

Accounts payables

46,997

Minority & Others

(38)

 

LT Liabilities

5,504

Profit After tax

5,347

 

Total Liabilities

127,093

EPS (Note1)

3.20

 

Common Stock

17,242

Net book value per share (Note)

29.29

 

Total Equity

50,422

Note1:Based on weighted average outstanding shares.

 

Cash flows (1/1/2016~12/31/2016)

Item

Amount

Income before Income Tax

6,722

Change in NWC

3,007

Operating cash inflow /(outflow)

7,503

Investment cash inflow /(outflow)

(849)

Change in Financial Debt

(2,008)

Cash Dividend

(3,974)

Financing cash inflow /(outflow)

(5,987)

Cumulative translation adjustments

(1,655)

Net Cash

(988)

Beginning cash balance

9,447

Ending cash balance

8,458

 

WPG Americas is a member of WPG Holdings. WPG Americas revenue in 2016 was US$16.65 billion.

 

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