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Yageo Reported 2020 January Consolidated Sales of NT$ 3,302 Million

2020/02/07

Yageo Corporation announced today its 2020 January consolidated sales of NT$ 3,302 million, up 1.3% m-o-m but down 30.9% y-o-y, respectively.

 

Continuing the tight demand before the Lunar New Year, Yageo has actively recruited labors and implemented overtime rewards to increase production capacity and also encouraged employees to cooperate with overtime during Lunar New Year holidays, making January consolidated sales still better than last month.

 

Due to the severe situation of Wuhan coronavirus epidemic, our Chinese factories followed local government's regulation to extend Lunar New Year holidays and will gradually resume operations from February 10th, 2020. Currently we put safety, health, and government's regulations as top priority. Yageo will take necessary steps to gradually recover production capacity, together with the support from our Taiwan Kaohsiung plants, which are under normal operations, in order to fulfill customers’ most urgent demands.

 

With the uncertainty of Wuhan coronavirus epidemic and stricter labor control regulation after the resumption of work, it will be more difficult to recruit workers in our Chinese production plants, resulting in lower utilization rate and decreasing inventory level of finished products. Yageo will do the best to reduce the impact on operations and stay vigilant during the challenging period.

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