YAGEO reports first-quarter results of 20232023/04/20
YAGEO Corporation (2327 TW) today announced its first-quarter results of 2023. Net consolidated sales reported NT$ 26.096 billion, down 9.5% q-o-q and down 13.4% y-o-y, respectively. Net consolidated profits after tax attributable to parent company achieved NT$ 4.132 billion, down 0.8% q-o-q and down 33.8% y-o-y, respectively, or earnings per share of NT$ 9.90.
1Q23 gross margin rate posted 33.0%, down 3.5 percentage point q-o-q and down 5.1 percentage point y-o-y, respectively. The operating profit reached NT$ 4.920 billion with 18.9% operating profit margin rate, down 1.7 percentage point q-o-q and down 6.0 percentage point y-o-y, respectively. Non-operating items posted a net gain of NT$ 514 million, mainly attributed to realized and unrealized net gain on foreign exchange of NT$ 436 million.
Moving forward to the second quarter, as the supply chain's inventory and end demand adjustment continues, and macro uncertainties such as market demand/supply, rising inflation, and international conflicts remain, YAGEO will closely monitor the market and stay prudently to its sales and operation outlook.