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MarketScreener Homepage  >  Equities  >  TAIWAN STOCK EXCHANGE  >  TECO Electric Machinery Co Ltd    1504   TW0001504009

TECO ELECTRIC MACHINERY CO LTD

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Teco Electric & Machinery : 2016/03/30 TECO Announces 4Q15 Results

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03/30/2016 | 08:20am EST

3cf27f5e-9bc1-4ab2-b9f5-64f0fa6983ae.pdf



TECO Electric & Machinery Co., Ltd.

5F, 19-9, San Chong Road, Nan-Kang, Taipei 115, Taiwan

Tel: (8862) 2655-3333 | Fax: (8862) 2655-2259 | http://www.teco.com.tw


TECO Announces 2015 Results


Taipei, Taiwan, March 30th 2016 - TECO Electric and Machinery Co., Ltd., a leading manufacturer and service provider of motors, home appliances and information technology, today announced its financial results for 2015.


Consolidated Basis Unit: NT$1,000


Period

Item

4Q 2015

vs. 4Q 2014 (+/-%)

vs. 3Q 2015 (+/-%)

2015

vs. 2014 (+/-%)

Operating Revenue

12,475,214

-0.8%

1.9%

48,598,573

-9.6%

Gross Profit, net(1)

3,189,598

2.6%

3.3%

12,400,311

-7.4%

Operating Profit

935,647

19.2%

-2.8%

3,787,627

-14.4%

Income Tax Expense

136,066

-30.6%

-59.8%

1,049,155

-19.2%

Net Income(2)

570,782

-18.1%

-40.3%

3,177,291

-21.8%

EPS(NT$)

0.28

1.60

  1. Unrealized / realized gain on inter-affiliate accounts included.

  2. Excluding non-controlling interests.

For the fourth quarter of 2015, net revenue totaled NT$12,475 million and gross profit was NT$3,190 million. Operating profit came in at NT$936 million and net income was NT$571 million. Earnings per share was reported as NT$0.28.


Recurring operating revenue decreased by 0.4% as opposed to 4Q'14. Gross profit and operating profit increased by 2.6% and 19.2% respectively. Net income decreased by 18.1%. The decrease in non-operating income was mainly due to the one off impair loss in 4Q15. (See table 1)


Table 1


(In NT$1,000, except EPS)

Operating Revenue

Recurring Operating Revenue Gain on Sales of Financial Assets

Operating Costs

Gross Profit, net (1)

Operating expenses Operating Profit

Non-operating Income (Expense) Other Income

Other Gains and Losses Financial Costs

Share of Profit (Loss) of Associates and Joint Ventures

Accounted for Using Equity Method Income before Tax

Income Tax Expense Net Income (2)

EPS

4Q ' 15

Amount %

4Q ' 14

Amount %


YoY %

12,475,214

100.0%

12,577,496

100.0%

-0.8%

12,466,651

99.9%

12,519,068

99.5%

-0.4%

8,563

0.1%

58,428

0.5%

-85.3%

(9,288,862)

-74.5%

(9,468,956)

-75.3%

-1.9%

3,189,598

(2,253,951)

25.6%

-18.1%

3,107,733

(2,322,792)

24.7%

-18.5%

2.6%

-3.0%

935,647

7.5%

784,941

6.2%

19.2%

(137,052)

-1.1%

168,061

1.3%

-181.5%

413,596

3.3%

418,763

3.3%

-1.2%

(451,184)

-3.6%

(152,512)

-1.2%

195.8%

(77,482)

-0.6%

(53,520)

-0.4%

44.8%


(21,982)


-0.2%


(44,670)


-0.4%


-50.8%

798,595

(136,066)

6.4%

-1.1%

953,002

(195,929)

7.6%

-1.6%

-16.2%

-30.6%

570,782

4.6%

697,348

5.5%

-18.1%

0.28

0.34


Note:

  1. Unrealized / realized gain on inter-affiliate accounts included.

  2. Excluding non-controlling interests.

Recurring operating revenue for 4Q'15 increased 1.6% over 3Q'15. Gross profit increased by 3.3% while operating profit decreased by 2.8%. Net income decreased by 40.3%. The decrease in non-operating income was mainly due to the decrease in dividend income and one off impair loss in 4Q15. (See table 2)


Table 2


(In NT$1,000, except EPS) Operating Revenue

Recurring Operating Revenue Gain on Sales of Financial Assets

Operating Costs

Gross Profit, net (1)

Operating expenses

4Q ' 15

Amount %

3Q ' 15

Amount %


YoY %

12,475,214

12,466,651

8,563

(9,288,862)

100.0%

99.9%

0.1%

-74.5%

12,247,527

12,272,648

(25,121)

(9,158,184)

100.0%

100.2%

-0.2%

-74.8%

1.9%

1.6%

- 1.4%

3,189,598

(2,253,951)

25.6%

-18.1%

3,086,597

(2,124,172)

25.2%

-17.3%

3.3%

6.1%

Operating Profit

Non-operating Income (Expense) Other Income

Other Gains and Losses Financial Costs

Share of Profit (Loss) of Associates and Joint Ventures

Accounted for Using Equity Method

935,647

7.5%

962,425

7.9%

-2.8%

(137,052)

-1.1%

412,878

3.4%

-133.2%

413,596

3.3%

364,077

3.0%

13.6%

(451,184)

-3.6%

24,250

0.2%

-1960.6%

(77,482)

-0.6%

(56,025)

-0.5%

38.3%


(21,982)


-0.2%


80,576


0.7%


-127.3%

Income before Tax

798,595

6.4%

1,375,303

11.2%

-41.9%

Income Tax Expense

(136,066)

-1.1%

(338,327)

-2.8%

-59.8%

Net Income (2)

570,782

7.8%

956,442

7.8%

-40.3%

EPS

0.28

0.48


Note:

  1. Unrealized / realized gain on inter-affiliate accounts included.

  2. Excluding non-controlling interests.

For 2015, operating revenue totaled NT$48,599 million and gross profit was NT$12,400 million. Operating profit came in at NT$3,787 million and net income was NT$3,177 million. Earnings per share was reported as NT$1.60.


Recurring operating revenue decreased by 9.5% as opposed to 2014. Gross profit and operating profit decreased by 7.4% and 14.4% respectively. Net income decreased by 21.8%. The decrease in non-operating income was mainly due to the one off disposal gain of property, plant and equipment in 2014. (See table 3)


Table 3



(In NT$1,000, except EPS)

Operating Revenue

Recurring Operating Revenue Gain on Sales of Financial Assets

Operating Costs

Gross Profit, net (1)

Operating expenses

2015

Amount %

2014(3)

Amount %


YoY %

48,598,573

48,504,693

93,880

(36,203,039)

100.0%

99.8%

0.2%

-74.5%

53,748,466

53,622,907

125,559

(40,356,727)

100.0%

99.8%

0.2%

-75.1%

-9.6%

-9.5%

-25.2%

-10.3%

12,400,311

(8,612,684)

25.5%

-17.7%

13,391,803

(8,968,967)

24.9%

-16.7%

-7.4%

-4.0%

Operating Profit

Non-operating Income (Expense) Other Income

Other Gains and Losses Financial Costs

Share of Profit (Loss) of Associates and Joint Ventures

Accounted for Using Equity Method

3,787,627

7.8%

4,422,836

8.2%

-14.4%

775,644

1.6%

1,277,135

2.4%

-39.3%

1,361,206

2.8%

1,185,074

2.2%

14.9%

(511,807)

-1.1%

141,095

0.3%

-462.7%

(227,691)

-0.5%

(229,363)

-0.4%

-0.7%


153,936


0.3%


180,329


0.3%


-14.6%

Income before Tax

4,563,271

9.4%

5,699,971

10.6%

-19.9%

Income Tax Expense

(1,049,155)

-2.2%

(1,297,704)

-2.4%

-19.2%

Net Income (2)

3,177,291

6.5%

4,062,960

7.6%

-21.8%

EPS

1.60

2.05


Note:

  1. Unrealized / realized gain on inter-affiliate accounts included.

  2. Excluding non-controlling interests.

Teco Electric & Machinery Co. Ltd. issued this content on 30 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 March 2016 12:19:33 UTC

Original Document: http://www.teco.com.tw/file/financial/file_en/4Q15.pdf

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