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Advantech Reports 2Q22 EPS of NT$3.17


Advantech (TWSE: 2395) today announced the following consolidated financial results for the second quarter of 2022 ending June 30: 

NT$16.82 billion, up 18% YoY and up 4% QoQ NT$3.089 billion, up 41% YoY and up 2% QoQ NT$3.17
  • Revenue
  • Gross profit
NT$6.499 billion, up 25% YoY and up 6% QoQ
  • Operating profit
  • Net income
NT$2.458 billion, up 37% YoY and down 4% QoQ
  • Earnings per share

Regarding the accumulated 1H 2022 operating results in US dollars, Advantech achieved an overall revenue of US$1.151 billion, up 19% YoY, also beat company guidance. By business unit, Applied Computing Group (ACG) and Service-IoT Group (SIoT) enjoyed strong YoY growth at 62% and 47%, respectively. While Embedded-IoT Group (EIoT) and Cloud-IoT Group (CIoT) also outperformed with over 20% increase YoY. In terms of a geographic overview, North America, Europe and Emerging market were the best performers with YoY growth at 37%, 25% and 40%, respectively. Due to KunShan capacity fully recovered, China market were slight increased YoY.

Mr. Eric Chen, CFO and President of General Management at Advantech stated, “With the relief of logistics and material conditions, and the overall capacity expansion completed, Advantech delivered outstanding financial results in 1H22. The Orders-to-Shipments ratio (BB ratio) reached 1.24 in 2Q22, indicating customers’ booking behavior gradually returned to normal due to the concerns of long delivery time and cost-up expectation eliminated. Despite uncertainties on global inflation and economic recession, benefit from global trend of net-zero and energy transition, end demands for iFactory, iEMS and iCity are still solid and strong. Advantech is well prepared for the next level, not only keep optimizing the procurement and inventory management, but also strengthen service capabilities on-site in North America, Korea and Japan markets. Furthermore, the new IoTMart 2.0 e-commerce platform has been built to cope with zero contact opportunities. We have high confidence and maintain a positive view on overall outlook this year.”.