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Event2023-03-01
Chicony Power announces record revenue, profits & dividend for four consecutive years. 2022 EPS was NT$8.22.
Chicony Power Technology Co., Ltd. (6412.TW) today announced its financial results for fiscal 2022. Thanks to the improved product mix and effective supply chain management, the company had a strong finish to 2022 and reported record-breaking consolidated annual revenues, gross profits, operating profits, net profits, EPS, gross margin, operating margin, and net margin.
In summary, the company’s consolidated revenues reached NT$410.66 million, up 1.7% YoY. Gross margin was 18.6%, up 0.9 ppt YoY. Operating margin was 9.5%, up 1.0ppt YoY. Net margin was 7.9%, up 0.9 ppt YoY. Consolidated gross profit rose to NT$7,629 million, up 6.9% YoY. Consolidated operating profit grew 13.5% YoY to NT$3,917 million. Net profits attributable to owners of the parent was NT$3,247 million, up 14.8% YoY, with a basic EPS of NT$8.22, up 13.9% YoY. ROE ratio was maintained at a sustainable level of 27.3%. Meanwhile, the company also managed to strengthen its balance sheet and effectively lowered its Debt to Equity Ratio to 54% at the end of 2022, compared to 63% one year ago.
In addition, Chicony Power’s Board of Directors today resolved to propose a record-high cash dividend of NT$5.90 per share for 2022. Dividend payout ratio reached 72%. For the past 10 years, the company’s dividend payout ratio has consistently exceeded 70%.
| (NT$ million) | 4Q22 | 3Q22 | QoQ% | 4Q21 | YoY % |
|---|---|---|---|---|---|
| Net Sales | 9,501 | 10,801 | -12.0 | 10,625 | -10.6 |
| Gross Profit | 1,946 | 2,218 | -12.3 | 1,916 | 1.6 |
| Operating Profit | 964 | 1,235 | -21.9 | 905 | 6.6 |
| Pre-tax income | 978 | 1,201 | -18.6 | 977 | 0.1 |
| Net Income attributable to parent | 751 | 966 | -22.3 | 768 | -2.2 |
| After Tax EPS (NT$) | 1.90 | 2.44 | -22.1 | 1.96 | -3.1 |
| Profit margins % | |||||
| GPM | 20.5 | 20.5 | +0.0ppt | 18.0 | +2.5ppt |
| OPM | 10.2 | 11.4 | -1.2ppt | 8.5 | +1.7ppt |
| NPM | 7.9 | 8.9 | -1.0ppt | 7.2 | +0.7ppt |
| (NT$ million) | 2022 | 2021 | YoY % |
|---|---|---|---|
| Net Sales | 41,066 | 40,364 | 1.7 |
| Gross Profit | 7,629 | 7,139 | 6.9 |
| Operating Profit | 3,917 | 3,451 | 13.5 |
| Pre-tax income | 4,063 | 3,580 | 13.5 |
| Net Income attributable to parent | 3,247 | 2,827 | 14.8 |
| After Tax EPS (NT$) | 8.22 | 7.22 | 13.9 |
| Profit margins % | |||
| GPM | 18.6 | 17.7 | +0.9ppt |
| OPM | 9.5 | 8.5 | +1.0ppt |
| NPM | 7.9 | 7.0 | +0.9ppt |
