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Event2021-08-05

Chicony Power reports 2Q2021 EPS of NT$1.68, the second highest in the same period

  Chicony Power Technology Co., Ltd. (6412.TW) today announced its consolidated financial results for the second quarter of 2021. Despite of the effects of raw material shortages and unfavorable exchange rates, the company’s consolidated operating profit hit a record high in the same period and reached NT$842 million, up by 5.2% YoY and 8.9% QoQ. Net profits attributable to owners of the parent was the second-highest in the same period and totaled NT$660 million, down by 4.2% YoY but up 13.9% QoQ.

Chicony Power’s consolidated revenues in 2Q21 hit a record high in the same period and reached NT$9,627million, down by 3.6% QoQ but up by 4.2% YoY. Gross margin was 18.0%, down by 1.3ppt YoY but up by 1.5ppt QoQ. With prudent expense control, operating margin reached 8.7%, flat YoY and up by 1.0ppt QoQ. Meanwhile, consolidated operating profit reached NT$842 million, up by 5.2% YoY and 8.9% QoQ. Net profits attributable to owners of the parent was NT$660 million, down by 4.2% YoY but up 13.9% QoQ. Basic EPS was NT$1.68, down by 5.6% YoY but up 12.8% QoQ.

  For the first half of 2021, the company’s accumulated consolidated revenues and net profits both hit record highs for the same period. Consolidated revenue reached NT$19,609 million, up by 23.0% YoY. Gross profit and operating profit were NT$3,379 million and NT$1,615 million, up by 20.5% and 39.7% YoY, respectively. Net profits attributable to owners of the parent was NT$1,239 million, up by 50.7% YoY. Basic EPS in 1H21 increased 48.8% YoY to NT$3.17. Annualized ROE in the first half also hit a record high in the same period and reached 26.1%.

  Chicony Power also announced its unaudited consolidated revenue of NT$3,142million for July 2021. For the first seven months, accumulated revenues also reach a new high in the same period and totaled NT$22,751 million, up by 20.1% YoY.

Highlights of 2Q21 Consolidated Income Statement:
(NT$ million) 2Q21 1Q21 QoQ % 2Q20 YoY %
Net Sales 9,627 9,982 -3.6 9,239 4.2
Gross Profit 1,732 1,647 5.2 1,787 -3.1
Operating Profit 842 773 8.9 800 5.2
Pre-tax income 841 752 11.9 883 -4.8
Net Income attributable to parent 660 579 13.9 688 -4.2
After Tax EPS (NT$) 1.68 1.49 12.8 1.78 -5.6
Profit margins %          
GPM 18 16.5 +1.5ppt 19.3 -1.3ppt
OPM 8.7 7.7 +1.0ppt 8.7 +0.0ppt
NPM 6.9 5.8 +1.1ppt 7.5 -0.6ppt


Highlights of 1H21 Consolidated Income Statement:
(NT$ million) 1H21 1H20 YoY %
Net Sales 19,609 15,948 23.0
Gross Profit 3,379 2,804 20.5
Operating Profit 1,615 1,156 39.7
Pre-tax income 1,592 1,058 50.5
Net Income attributable to parent 1,239 822 50.7
After Tax EPS (NT$) 3.17 2.13 48.8
Profit margins %      
GPM 17.2 17.6 -0.4ppt
OPM 8.2 7.2 +1.0ppt
NPM 6.3 5.2 +1.2ppt

 

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