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Event2024-03-12
Chicony Power announces record profits & dividend for 5 consecutive years. 2023 EPS was NT$8.27
Chicony Power Technology Co., Ltd. (6412.TW) today announced its financial results for fiscal 2023. Thanks to favorable Forex and improved product mix, the company had a strong finish to 2023 and reported record-breaking consolidated gross profits, operating profits, net profits, EPS, gross margin, operating margin, and net margin.
In 2023, the company’s consolidated revenues was NT$36,311 million, down 11.6% YoY. Gross margin was 21.2%, up 2.6 ppt YoY. Operating margin was 10.9%, up 1.4ppt YoY. Net margin was 9.1%, up 1.2 ppt YoY. Consolidated gross profit rose to NT$7,700 million, up 0.9% YoY. Consolidated operating profit grew 1.1% YoY to NT$3,961 million. Net profits was NT$3,295 million, up 1.5% YoY, with a basic EPS of NT$8.27, up 0.6% YoY.
It is worth to mention that, in 4Q23, the company’s EPS reached NT$2.46, up 4.2% QoQ and 29.5% YoY. Gross margin, operating margin, and net margin for the quarter were 23.1%, 12.5%, and 10.9%, respectively. These three margins all reached all-time record-highs.
In addition, Chicony Power’s Board of Directors today resolved to propose a record-high cash dividend of NT$6.0 per share for 2023. Dividend payout ratio reached 72.6%. For the past 11 years, the company’s dividend payout ratio has consistently exceeded 70%.
| (NT$ million) | 4Q23 | 3Q23 | QoQ% | 4Q22 | YoY % |
|---|---|---|---|---|---|
| Net Sales | 9,009 | 9,740 | -7.5 | 9,501 | -5.2 |
| Gross Profit | 2,084 | 2,186 | -4.7 | 1,946 | 7.1 |
| Operating Profit | 1,129 | 1,213 | -6.9 | 964 | 17.1 |
| Pre-tax income | 1,250 | 1,181 | 5.8 | 978 | 27.8 |
| Net Income attributable to parent | 982 | 942 | 4.3 | 751 | 30.7 |
| After Tax EPS (NT$) | 2.46 | 2.36 | 4.2 | 1.9 | 29.5 |
| Profit margins % | |||||
| GPM) | 23.1 | 22.4 | +0.7ppt | 20.5 | +2.6ppt |
| OPM | 12.5 | 12.5 | +0.0ppt | 10.2 | +2.3ppt |
| NPM | 10.9 | 9.7 | +1.2ppt | 7.9 | +3.0ppt |
| (NT$ million) | 2023 | 2022 | YoY % |
|---|---|---|---|
| Net Sales | 36,311 | 41,066 | -11.6 |
| Gross Profit | 7,700 | 7,629 | 0.9 |
| Operating Profit | 3,961 | 3,917 | 1.1 |
| Pre-tax income | 4,168 | 4,063 | 2.6 |
| Net Income attributable to parent | 3,295 | 3,247 | 1.5 |
| After Tax EPS (NT$) | 8.27 | 8.22 | 0.6 |
| Profit margins % | |||
| GPM | 21.2 | 18.6 | +2.6ppt |
| OPM | 10.9 | 9.5 | +1.4ppt |
| NPM | 9.1 | 7.9 | +1.2ppt |
