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Advantech Reports FY1H2017 EPS of NT$4.20

8/17/2017

Advantech (ticker: 2395.TW), a leading global provider of intelligent systems, held an investors conference today to report its consolidated financial statements for the first half of 2017. Consolidated revenue was approximately NT$21.4 billion, a 3% YoY increase. Gross profit was roughly NT$8.452 billion (a 39.5% profit margin), consolidated net income was approximately NT$2.928 billion, and EPS was around NT$4.20.

Summarizing Advantech’s performance, the Embedded Core Group and Industrial IoT Sub Business Group were the main highlights, exhibiting 14.2% YoY and 13% YoY growth, respectively, when revenue is calculated in USD. By region, emerging Asian markets showed the best performance at 30.1% YoY growth, followed by the Greater China Region at 15.4% YoY and Europe at 14.8% YoY.

Advantech's revenue growth calculated in NTD, however, was only 3% YoY, due to appreciation of the NTD. Eric Chen, CFO and Vice President of Advantech, stated that exchange rates are a systemic risk that cannot be avoided due to Advantech's revenue scale and business model. The company will, however, do everything it can to lower the impact of exchange rates on profits. As for demand in the second half of 2017, Europe and the Greater China Region still have steady growth momentum, while emerging markets are expected to continue recovering. Recovery in the U.S. might not be clear until the end of 2017 or early 2018; there are still many variables yet to be accounted for.


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