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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 : 2017/03/30 TECO Announces 4Q16 Results

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03/30/2017 | 05:10am EST

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 2016 Results

Taipei, Taiwan, March 30 2017 - 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 2016.

Consolidated Basis Unit: NT$1,000

Period

Item

4Q 2016

vs. 4Q 2015 (+/-%)

vs. 3Q 2016 (+/-%)

2016

vs. 2015 (+/-%)

Operating Revenue

13,427,629

7.6%

11.9%

49,923,836

2.7%

Gross Profit, net

3,404,233

6.7%

9.6%

13,134,395

5.9%

Operating Profit

1,100,250

17.6%

26.5%

4,189,481

10.6%

Income Tax Expense

218,109

60.3%

52.3%

896,293

-14.6%

Net Income(1)

864,695

51.5%

-3.8%

3,481,480

9.6%

EPS(NT$)

0.44

1.76

  1. Excluding non-controlling interests.

    Please find the details in the following pages.

    For the fourth quarter of 2016, net revenue totaled NT$13,428 million and gross profit was NT$3,404 million. Operating profit came in at NT$1,100 million and net income was NT$865 million. Earnings per share was reported as NT$0.44.

    Recurring operating revenue increased by 7.6% as opposed to 4Q'16. Gross profit increased by 6.7%. Operating profit and net income increased by 17.6% and 51.5% respectively. The increase in non-operating income was mainly due to the increase in Gain on Disposal of Investments under Other Gains and Losses in 4Q16. (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 ' 16 (3)

    Amount %

    4Q ' 15 (3)

    Amount %

    YoY %

    13,427,629

    100.0%

    12,475,214

    100.0%

    7.6%

    13,418,042

    99.9%

    12,466,651

    99.9%

    7.6%

    9,587

    0.1%

    8,563

    0.1%

    12.0%

    (10,023,310)

    -74.6%

    (9,288,862)

    -74.5%

    7.9%

    3,404,233

    (2,303,983)

    25.4%

    -17.2%

    3,189,598

    (2,253,951)

    25.6%

    -18.1%

    6.7%

    2.2%

    1,100,250

    8.2%

    935,647

    7.5%

    17.6%

    154,282

    1.1%

    (137,052)

    -1.1%

    -

    158,159

    1.2%

    413,596

    3.3%

    -61.8%

    144,829

    1.1%

    (451,184)

    -3.6%

    -

    (42,815)

    -0.3%

    (77,482)

    -0.6%

    -44.7%

    (105,891)

    -0.8%

    (21,982)

    -0.2%

    381.7%

    1,254,532

    (218,109)

    9.3%

    -1.6%

    798,595

    (136,066)

    6.4%

    -1.1%

    57.1%

    60.3%

    864,695

    6.4%

    570,782

    4.6%

    51.5%

    0.44

    0.28

    Note:

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

  3. Excluding non-controlling interests.

  4. Comply with IFRS.

  5. Recurring operating revenue for 4Q'16 increased 11.9% over 3Q'16. Gross profit increased by 9.6% while operating profit increased by 26.5% and net income decreased by 3.8%. The main reason results in decreasing Non- operating Income is the Dividend Income in 4Q16.

    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 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 ' 16 (3) 3Q ' 16 (3)

    Amount % %

    YoY %

    13,427,629

    100.0%

    12,003,706

    100.0%

    11.9%

    13,418,042

    99.9%

    11,989,789

    99.9%

    11.9%

    9,587

    0.1%

    13,917

    0.1%

    -31.1%

    (10,023,310)

    -74.6%

    (8,897,433)

    -74.1%

    12.7%

    3,404,233

    (2,303,983)

    25.4%

    -17.2%

    3,105,913

    (2,236,163)

    25.9%

    -18.6%

    9.6%

    3.0%

    1,100,250

    8.2%

    869,750

    7.2%

    26.5%

    154,282

    1.1%

    298,101

    2.5%

    -48.2%

    158,159

    1.2%

    531,234

    4.4%

    -70.2%

    144,829

    1.1%

    (140,789)

    -1.2%

    -

    (42,815)

    -0.3%

    (76,109)

    -0.6%

    -43.7%

    (105,891)

    -0.8%

    (16,235)

    -0.1%

    552.2%

    1,254,532

    (218,109)

    9.3%

    -1.6%

    1,167,851

    (143,201)

    9.7%

    -1.2%

    7.4%

    52.3%

    864,695

    6.4%

    898,910

    7.5%

    -3.8%

    0.44

    0.45

    Note:

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

    2. Excluding non-controlling interests.

    3. Comply with IFRS.

    4. For 2016, operating revenue totaled NT$49,924 million and gross profit was NT$13,134 million. Operating profit came in at NT$4,933 million and net income was NT$3,481 million. Earnings per share was reported as NT$1.76.

      Recurring operating revenue increased by 2.6% as opposed to 2015. Gross profit and operating profit increased by 5.9% and 10.6% respectively. Net income increased by 9.6%. The decrease in non-operating income was mainly due to the decrease in Net Currency Exchange Gain under Other Gains and Losses. (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

      2016 (3)

      Amount %

      2015 (3)

      Amount %

      YoY %

      49,923,836

      49,752,645

      171,191

      (36,788,304)

      100.0%

      99.7%

      0.3%

      -73.7%

      48,598,573

      48,504,693

      93,880

      (36,203,039)

      100.0%

      99.8%

      0.2%

      -74.5%

      2.7%

      2.6%

      82.4%

      1.6%

      13,134,395

      (8,944,914)

      26.3%

      -17.9%

      12,400,311

      (8,612,684)

      25.5%

      -17.7%

      5.9%

      3.9%

      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

      4,189,481

      8.4%

      3,787,627

      7.8%

      10.6%

      743,810

      1.5%

      775,644

      1.6%

      -4.1%

      1,160,006

      2.3%

      1,361,206

      2.8%

      -14.8%

      (43,705)

      -0.1%

      (511,807)

      -1.1%

      -91.5%

      (282,231)

      -0.6%

      (227,691)

      -0.5%

      24.0%

      (90,260)

      -0.2%

      153,936

      0.3%

      -158.6%

      Income before Tax

      4,933,291

      9.9%

      4,563,271

      9.4%

      8.1%

      Income Tax Expense

      (896,293)

      -1.8%

      (1,049,155)

      -2.2%

      -14.6%

      Net Income (2)

      3,481,480

      7.0%

      3,177,291

      6.5%

      9.6%

      EPS

      1.76

      1.60

      Note:

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

      2. Excluding non-controlling interests.

      3. Comply with IFRS.

    Teco Electric & Machinery Co. Ltd. published this content on 30 March 2017 and is solely responsible for the information contained herein.
    Distributed by Public, unedited and unaltered, on 30 March 2017 09:09:23 UTC.

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    EBIT 2019 3 890 M
    Net income 2019 3 466 M
    Finance 2019 5 056 M
    Yield 2019 3,54%
    P/E ratio 2019 15,3x
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