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Chicony Power reported a record-breaking first quarter EPS of NT$1.93

  Chicony Power Technology Co., Ltd. (6412.TW) today announced its consolidated financial results for the first quarter of 2022. Consolidated revenues for the first quarter reached NT$10,493 million, up 5.1% YoY. With favorable product mix mitigating the pressure on margins from the supply chain disruption and the raw material price increases, the company’s gross margin stayed resilient and grew 0.1ppt YoY to 16.6%. Gross profit was NT$1,742million, up 5.8% YoY. With prudent expense control, the company’s operating margin improved 1.0ppt from the year-ago quarter to 8.7%. Hence, operating profit reached NT$908 million, up 17.5% YoY. Net profits attributable to owners of the parent rose 30.7% YoY to NT$757 million, with net margin of 7.2%, up 1.4ppt YoY. Basic EPS was NT$1.93, up 29.5% YoY. Furthermore, annualized ROE for the quarter reached 28.6%. Overall, Chicony Power had a strong start to 2022 and reported record-breaking quarterly revenues, gross profit, operating profit, net profit, EPS, gross margin, operating margin, net margin, and ROE ratio for the same period.

  Chicony Power also announced its unaudited consolidated April 2022 revenue NT$3,099 million, down 2.0% YoY, impacted by supply chain woes caused by China’s Covid lockdowns and restrictions. For the first four months, accumulated revenues still hit a record high for the same period and totaled NT$13,593 million, up 3.4% YoY.

Highlights of 1Q22 Consolidated Income Statement:
(NT$ million) 1Q22 1Q21 YoY %
Net Sales 10,493 9,982 5.1
Gross Profit 1,742 1,647 5.8
Operating Profit 908 773 17.5
Pre-tax income 939 752 25.0
Net Income attributable to parent 757 579 30.7
After Tax EPS (NT$) 1.93 1.49 29.5
Profit margins %      
GPM 16.6 16.5 +0.1ppt
OPM 8.7 7.7 +1.0ppt
NPM 7.2 5.8 +1.4ppt


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