YAGEO Corporation (2327 TW) today announced its third-quarter results of 2023. Net consolidated sales reported NT$ 27.396 billion, up 2.4% q-o-q but down 11.0% y-o-y, respectively. Net consolidated profits after tax attributable to parent company achieved NT$ 4.851 billion, up 30.1% q-o-q but down 24.2% y-o-y, respectively, or earnings per share of NT$ 11.60.

3Q23 gross margin rate posted 33.2%, flattish q-o-q but down 5.3 percentage point y-o-y, respectively. The operating profit reached NT$ 5.391 billion with 19.7% operating profit margin rate, up 0.7 percentage point q-o-q but down 5.2 percentage point y-o-y, respectively. Non-operating items posted a net gain of NT$ 893 million, mainly attributed to realized and unrealized net gain on foreign exchange of NT$ 179 million and net interest income of NT$503 million.

1Q-3Q23 consolidated sales reported NT$ 80.248 billion, down 13.0 % y-o-y. Net consolidated profit after tax attribute to parent company reported NT$ 12.712 billion, down 31.5% y-o-y, or earnings per share of NT$ 30.43. Gross margin rate posted 33.1%, down 5.4% percentage point y-o-y. The operating income reached NT$ 15.397 billion with 19.2% of operating profit margin rate, down 5.8% percentage point y-o-y. Non-operating items posted a net gain of NT$ 2.767 billion, mainly attributed to realized and unrealized net gain on foreign exchange of NT$ 1.029 billion and net interest income of NT$ 1.108 billion.

Moving forward to the fourth quarter, as the number of working days will be reduced due to October holidays in China and December holiday season globally, and macro uncertainties such as market demand/supply, rising inflation, and international conflicts are still there, YAGEO will closely monitor the market situation and stay prudently to its sales and operation outlook.