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Hana Microelectronics Posts 5% Revenue Drop in 2020
March 2, 2021 | Hana Microelectronics GroupEstimated reading time: 1 minute
Hana Microelectronics Group 'Hana' sales revenue decreased 5% year on year, at THB 19.3 billion in year 2020 from THB 20.4 billion in year 2019. Sales revenue in USD terms decreased by 6% to USD 616 million in 2020 from USD 656m in 2019. Earnings from Operations increased 23% to THB 1,725 million in 2020 from THB 1,408 million in 2019.
Group Sales decreased 5% in 2020 to THB 19,282 million from 2019 at THB 20,384 million due to market weakness from the lower sales revenues in (Q2 & Q320) and reduction of inventories held by customers in Q1-Q3 due to the COVID-19 pandemic.
USD sales were 6% lower in 2020 at USD 616 million down from USD 656 million in 2019 as the average THB/USD exchange rate weakened 1% to THB/USD 31.29 in 2020 from THB/USD 31.05 in 2019.
The Microelectronics divisions' sales revenue decreased 6% [-6% in THB terms] in 2020 over 2019. The microelectronics operation in Lamphun sales decreased 6% [-5% in THB terms] and JXG decreased by 8% [-7% in THB terms] in 2019.
In 2020 IC assembly sales overall decreased by 4% in USD terms [-4% in THB terms]. Specifically, IC AYT sales decreased 3% [-2% in THB terms], and IC JXG USD sales decreased by 17% [-17% in THB terms].
Hana Technologies Inc "HTI" (formerly Hana Microdisplay Technologies), sales decreased 19% [-18% THB] for the year.
Gross Profit increased by THB 357 million with the gross margin being 13% in 2020 up 2 percentage points from 11% in 2019. +2% points higher gross margin due to lower materials cost related exchange rate movements from Q419 to Q120 [+1%], reduced overtime and labour and salary cost reductions [+1%].
The Earnings from Operations margin increased by 2 percentage points to 9% in 2020 from 7% in 2019 due to the increase in gross margin. SGA including R&D expenses were 7% higher in 2020 than 2019.
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