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Advantech Reports FY2019 EPS of NT$10.51


Advantech (ticker: 2395.TW) today announced the following consolidated financial results for the fiscal year ended December 31, 2019:

  • Revenue was NT$54.144 billion, up 11% YoY
  • Gross profit was NT$21.099 billion, up 13% YoY
  • Operating profit was NT$9.234 billion, up 23.8% YoY
  • Net income was NT$7.35 billion, up 16.9% YoY
  • Earnings per share was NT$10.51, up 16.5% YoY

In US dollar, Advantech delivered US$1.755bn revenues in 2019, up 8.5% YoY. The YoY revenue growth for the Embedded-IoT Group, Industrial-IoT Group, and Service-IoT Group were 7%, 0%, and 1% respectively. The Cloud-IoT Group (aka Network & Communications Group) reported 20% YoY revenue growth attributed to rising demand for software-defined networking (SDN). In geographic overview, North America and emerging Markets were the best performed regions with 14% and 19% YoY revenues growth respectively. Greater China market closed as 2% YoY growth in 2019, while Europe market decline 2% YoY at the same period. Additionally, as of February, Advantech has consolidated an 80% stake of Advantech Technologies Japan (ATJ). ATJ total contribution 4% revenues in 2019.

“Reviewing year 2019, the revenues growth fell behind our original expectations set in the beginning of year 2019, due to the global trade frictions. But the declining component price and economic scale benefited our cost control and operating efficiency. Therefore the 2019 profit margin was better than the firm’s budgeting. Looking forward the outlook of 2020, the biggest operating risk comes from the factory shut-down on COVID-19 prevention and delayed demand of customer orders. The near term operation is definitely getting impacted from those factors. However, given our strong cash flow, we maintain a positive view on the company’s long term moderate sustainable growth. .” said Eric Chen, CFO and Corporate President of Advantech.

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