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Yageo reported its fourth-quarter and full year results of 2020

2021/03/11

Yageo Corporation (2327 TW) today announced its fourth-quarter results of 2020. Net consolidated sales reported NT$ 22,225 million, up 1.2% q-o-q and up 121.9% y-o-y, respectively. Net consolidated profits after tax attributable to parent company in the fourth quarter reported NT$ 3,707 million, up 2.2% q-o-q and 314.9% y-o-y, respectively, or NT$ 7.51 earnings per share. Gross margin rate posted 38.0%, up 0.6% percentage point q-o-q and up 4.5% percentage point y-o-y, respectively. The operating profit reached NT$ 5,089 million with 22.9% operating profit margin rate, down 2.2% percentage point q-o-q but up 6.1% percentage point y-o-y, respectively. Non-operating items posted a net loss of NT$ 938 million in the fourth quarter, including realized and unrealized net loss on foreign exchange NT$ 952 million (the influence to EPS was about -NT$ 1.93), investment income under equity method NT$ 41 million, net interest cost NT$ 77 million, and other net income of NT$ 50 million.

 

Y2020 consolidated sales reported NT$ 67,672 million, up 63.8 % y-o-y. Net consolidated profit after tax attribute to parent company reported NT$ 12,980 million, up 86.9% y-o-y, or NT$ 27.58 earnings per share. Gross margin rate posted 39.4%, up 3.6% percentage point y-o-y. The operating income reached NT$ 17,482 million with 25.8% of operating profit margin rate, up 6.4% percentage point y-o-y. Non-operating items posted a net loss of NT$ 1,457 million, including realized and unrealized net loss on foreign exchange NT$ 1,435 million, investment income under equity method NT$ 258 million, net interest cost NT$ 95 million, and other net loss of NT$ 185 million.

 

Consolidated sales and earnings per share of fourth-quarter reached at recent 9 quarters and 8 quarters high, respectively, attributed to the synergy of post KEMET merger, gradual improvement in production and capacity utilization, and strong demand from customers. Furthermore, not only Yageo continues to upgrade its product mix and customer base, but also Yageo’s end market segments have been undergone structural changes. The company will focus on high-end automotive, industrial, medical, aerospace, and 5G/IoT segments and deliver stable revenue and profitability growth in the future.

 

Meanwhile, Yageo has gradually increased and maintained higher capacity utilization rate in the Greater China plants to meet customers’ solid demand. Yageo will stay vigilant for the challenging environment while the global COVID-19 pandemic has not eased and the trade frictions remain uncertain, and keep prudently optimistic to its sales and operation outlook.

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