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Advantech Reports FY2020 EPS of NT$9.40

05/03/2021

Advantech (2395.TW) today announced the following consolidated financial results for the fiscal year ending December 31, 2020:

  • Revenue
NT$51.119 billion, a decline of 5.6% YoY
  • Gross profit
NT$20.396 billion, a decline of 3.3% YoY
  • Operating profit
NT$9.037 billion, a decline of 2.1% YoY
  • Net income
NT$7.25 billion, a decline of 1.4% YoY
  • Earnings per share
NT$9.40, a decline of 1.6%YoY

In US dollars, Advantech delivered US$1.730 billion revenues in 2020, a decline of 1.2% YoY. The YoY revenue growth for the Industrial-IoT Group was 4%, while Embedded-IoT Group and Service-IoT Group saw declines of 7% and 1% respectively. The Cloud IoT Group (aka. Network & Communications Group) reported a 15% YoY revenue decline due to delayed shipments requested by key accounts. In a geographic overview, Greater China, Korea, and emerging markets were the best performing regions with 3%, 9%, and 4% YoY revenue growths, while North America, Europe, and Japan markets saw 2%, 7%, and 21% YoY declines in 2020 over the same period.

Eric Chen, CFO and President of General Management said, “COVID-19’s impact on the company’s operations in 2020 was persistent. The sales performance from the second quarter of 2020 to August was poor. However, from September to the end of 2020, sales figures picked up gradually. Therefore, a double-digit sales growth in 2021 is to be expected. Looking forward to 2021, component lead times will be lengthened, and there is expected to be a severe shortage of certain ICs. The flexibility of the supply chain will be the spotlight of business operations in 2021. At the same time, product line optimization and edge computing development in AI and 5G will be the focus of the company’s operations going forward.”

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