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Yageo reported its first-quarter results of 2020

2020/05/04

Yageo Corporation (TAIEX: 2327 TW) today announced its first-quarter results of 2020. Net consolidated sales reported NT$ 10,023 million, up 0.1% q-o-q but down 12.0% y-o-y respectively. Net consolidated profits after tax attributable to parent company in the first quarter reported NT$ 2,350 million (up 163.1% q-o-q) or NT$ 5.51 earnings per share. Gross margin rate posted 40.3%, up 6.8% percentage point q-o-q but down 4.5% percentage point y-o-y respectively. The operating profit reached NT$ 2,562 million with 25.6% operating profit margin, up 8.8% percentage point q-o-q but down 0.5% percentage point y-o-y respectively. Non-operating items posted a net gain of NT$ 309 million in the first quarter, including realized and unrealized net gain on foreign exchange NT$ 347 million, investment income under equity method NT$ 37 million, net interest income NT$ 64 million, and other net loss of NT$ 139 million.

 

Foresee the second quarter, the company's operations, orders, and shipments are all in normal status. The resumption in the Chinese factories also sees gradual improvement. Yageo always puts safety, health, and government's regulations as top priority and will take necessary steps to gradually recover its production capacity and improve the issue of low inventory level for finished goods, to provide quality service and fulfill customers’ demands. Yageo continues to stay vigilant during the challenging period and respond cautiously optimistic to its sales performance and operation outlook.

 

Furthermore, the acquisition of KEMET by Yageo had been approved by all of the required global antitrust regulatory authorities. The transaction is expected to close in the third quarter of 2020, subject to additional customary closing conditions.

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