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Advantech Reports FY2022 EPS of NT$13.85


Advantech (TWSE: 2395) today announced the following consolidated financial results for the fiscal year ended December 31, 2022: 

  • Revenues NT$68.745 billion, up 17% YoY
  • Gross profits  NT$26.113 billion, up 18% YoY
  • Operating profits NT$12.532 billion, up 28% YoY
  • Net income NT$10.757 billion, up 30% YoY 
  • Earnings per share  NT$13.85

Advantech also announced today for 2022 dividend distribution plan with totaled dividend reached NT$11.0 per share record high level, including NT$10.0 cash dividend and NT$1.0 stock dividend, the total payout ratio approached 80%. 

Regarding the accumulated FY2022 operating results in US dollars, Advantech achieved an overall revenue of US$2,313 million, up 11% YoY. In terms of a geographic overview, North America, Europe, and Emerging markets were the best performers with a YoY growth at 23%,20%, and 14%. However, China market was relatively weak with a single-digit decrease in YoY. By business unit, Applied Computing Group (ACG), Industrial Cloud & Video Group (ICVG), and Service-IoT Group (SIoT) reached double-digit increase in YoY at 45%,19%, and19% respectively. Though both Industrial-IoT Group (IIoT) and Advantech Service Plus (AS+) showed slightly decline in YoY.

Mr. Eric Chen, CFO and President of General Management at Advantech stated, “In year 2022, Advantech continuously outperformed with both revenue and profit hit Company’s new records despite all the challenges of high inflation and economy slowdown. The Orders-to-Shipments ratio (BB ratio) was 0.92 in 4Q 2022 and the annual BB ratio reported 1.03 in 2022.  For the regional breakdown of 4Q22 BB ratio, both ANA and AEU markets were trending towards 1x, maintaining positive momentum, while China market BB ratio was relatively weak. Benefiting reopening from the great lockdown, the China economy is likely to recover gradually, the end demand momentum after inventory adjustment will be the key point for future observation.

Despite the uncertainty and challenges in global macro and high inventory issues in 1H2023, Advantech already well positioned for the global opportunities of EVs market, renewable energy infrastructure, and smart medical by consolidating R&D capability, product design and on-site technical ground force. Furthermore, through deepening cooperation with domain co-creation partners in development of the AIoT applications, we hold positive view toward FY2023, the Company will grow continuously in both top-line and bottom-line.”