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GrandTech (TPEx:6123) reports 2nd Quarter FY2020 financial results, Earnings Per Share after tax hit record high

Taipei, Taiwan, R.O.C., Jul. 15, 2020 -- GrandTech (TPEx: 6123) today reported financial results on its 2nd Quarter of FY2020.

  • Operating Income of NT$51.3M, increased 26% YoY.
  • Income before Tax of NT$65.76M, increased 46% YoY, hit record high compared to the same period past years.
  • Income after Tax of NT$54.73M, grow over 50%, highest record compared to corresponding period in the past.
  • Income after Tax Attributed to the Parent Company of NT$50.63M, increased 43% YoY.
  • Earnings Per Share after Tax of NT$0.88, second highest compared to same period past years. Increased 19% compared to Q1, increased 42% YoY.
  • Net Operating Profit After Tax growth compared to Q1, best performance compared to same quarters in past years.
  • Net Operating Revenue of NT$1.03B, slightly decrease compared to the same period last year.

GrandTech quoted, the outbreak of COVID-19 and the locked down situation in Malaysia and Singapore has impacted company’s performance in Q2. However, its Cloud Services business and Dynamic Digital Print Business has stable growth, coupled with steady growth on ARR (annual recurring revenue) subscription economy and Asian currency appreciation has contributed to the overall performance.

GrandTech (TPEx: 6123) has completed its 2019 dividend payment process on July 10th. For 2019, the total distribution of NT$3.6. per share.

Despite the unpredictable changes in global politics and trade turbulence, GrandTech still managed to deliver the revenue growth on the first half of 2020. The company will maintain judicious attitude in H2, continue to pursue stronger business growth on ARR (Annual Recurring Revenue) and expanding multi-cloud services and digital printing business in Asia region. GrandTech is expected to deliver stronger performance in 2020.

2020 revenue report (consolidated): (Unit:NT$ thousands)

2020 Q2

2019 Q2

YoY
Growth Rate %

Net Operating Revenue 1,030,062 1,077,758 -4%
Operating Income 51,299 40,569 26%
Income before Tax 65,758 45,050 46%
Income after Tax 54,730 36,388 50%
Income after Tax Attributed to the Parent Company 50,631 35,438 43%
Earnings Per Share after Tax 0.88 0.62 42%

Note: 2nd quarter of fiscal year 2020 financial result is unaudited consolidated account.

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