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Yageo reported its fourth-quarter and full year results of 2019

2020/02/26

Yageo Corporation (TAIEX: 2327 TW) today announced its fourth-quarter results of 2019. Net consolidated sales reported NT$ 10,016 million, down 2.9% q-o-q and 38.2% y-o-y respectively. Net consolidated profits after tax attributable to parent company in the fourth quarter reported NT$ 893 million or NT$ 2.1 earnings per share. Gross margin rate posted 33.5%, up 2.5% percentage point q-o-q but down 25.6% percentage point y-o-y respectively. The operating income reached NT$ 1,686 million with 16.8% of operating profit margin, up 0.6% percentage point q-o-q but down 11.3% percentage point y-o-y respectively. Non-operating items posted a net loss of NT$ 679 million in the fourth quarter. Among above expenses, the influence from one-time M&A related expenses of NT$ 330 million and realized and unrealized net loss on foreign exchange of NT$ 920 million accounts for approximately NT$ 3 earnings per share (EPS).

 

YTD19 consolidated sales reported NT$ 41,307 million, down 46.5% y-o-y. Net consolidated profit after tax attribute to parent company reported NT$ 6,945 million or NT$ 16.35 earnings per share. Gross margin rate posted 35.8%, down 27.5% percentage point y-o-y. The operating income reached NT$ 8,031 million with 19.4% of operating profit margin, down 28.4% percentage point y-o-y. Non-operating items posted a net gain of NT$ 992 million, including realized and unrealized net loss on foreign exchange NT$ 55 million, investment income under equity method NT$ 154 million, net interest income NT$ 617 million, and other net gain of NT$ 276 million.

 

Meanwhile, the Board of Directors today adopted a dividend distribution proposal of NT$ 15 cash per common share to shareholders for 2019, representing a dividend payout rate of 92%.

 

Owing to the current outbreak of coronavirus disease (COVID-19) in China, many provinces and cities are in closed-off management with strict personnel mobility control regulation. The progress of labor recruitment in our Chinese plants becomes even more challenging. The production facilities with lower utilization rate and finished goods turnover days below 30 days resulted in unsmooth order delivery.

Yageo will take necessary steps to gradually recover production capacity to fulfill customers’ most urgent demands, and will also do the best to reduce the impact of coronavirus outbreak on operations and stay vigilant during the challenging period.

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