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LITEON Technology Reports 2021 EPS of NT$6.01, Up 39% YoY
February 22, 2022 | LITEON TechnologyEstimated reading time: 3 minutes
LITEON Technology reported the fourth quarter of 2021 consolidated sales of NT$44.57 billion with gross margin and operating margin of 17.3% and 8.1%, while net profits were NT$2.51 billion with EPS of NT$1.11, hit fourth-quarter record high in five consecutive years, attributable to yearly growth from opto-electronics, cloud computing, 5G, AIoT and automotive applications.
LITEON posted 2021 consolidated revenue of NT$164.83 billion. The gross margin and operating margin were 18.5% and 7.9%, up 1.1ppt and 1.4ppt YoY respectively. Meanwhile, operating profits reached NT$13.04 billion, up 28% YoY and net profits were NT$13.89 billion with EPS of NT$6.01, up 39% YoY, posting record high annual profit margins and EPS. Thanks to continuous optimizing product-mix, improving flexibility and responding time of global smart manufacturing and supply chain management, as well as strengthening operational efficiency, 2021 posted record profit margin and EPS.
“LITEON posted 10% yearly growth of 2021 consolidated sales, excluding the transferred businesses in 2020. The profit growth outperforms sales growth with record profit margin and EPS, which realized the goal of profitable growth. LITEON continues to focus on market-oriented strategy, expanding R&D investment with 20% above yearly growth, particularly in opto-electronics, cloud computing, automotive electronics and 5G /AIOT products . The business model is different from the past OEM/ODM pattern. LITEON not just provides service based on spec requirements from customers, but proactively offers a systematic solution through in-house product development based on market demand. Automotive electronics and 5G /AIOT products progressively obtain customer certification. As the market momentum continues to grow, they will be the growth drivers of LITEON,” said Mr. Anson Chiu, President of LITEON Technology.
In the medium to long-term, LITEON will proactively leverage its core competence of opto-electronics and power management to enter into the futuristic smart grid solutions of household energy management market, creating brand-new growth curve. In addition to pursuit profitable growth, LITEON endeavors to engage itself in ESG and sustainable supply chain and is well-recognized by international sustainable evaluation institutes. At the very beginning of year 2022, LITEON received honors from S&P Global and CDP for its sustainable value chain initiatives which sets the bar of global sustainable value chain management in the industry.
2021 revenue contribution by segment:
The Opto-electronics Business contributed a 20% share of total sales. Thanks to growing demand from opto-electronics used in green energy, industrial automation, wearables and AR/VR applications, coupled with smooth delivery of high-end Mini LED, Opto-electronics business posted with 16% yearly growth in sales.
Cloud & AIoT Business accounted for a 27% share of total sales. Thanks to the ongoing delivery growth from high-end datacenter server and networking power management systems for cloud computing, power supplies for AI smart home devices, and high-end sever enclosures, Cloud & AIoT posted a yearly growth of 11%.
Information Technology & Consumer Electronics Business (IT&CE) accounted for 53% of total revenue. Benefited from ongoing demand from NB and gaming power supplies, laser models of multi-function peripherals, as well as ongoing market share gain in IT keyboards and mice, IT& CE supported a consecutive yearly growth.
Looking ahead to the first quarter of 2022, thanks to increasing demand from opto-electronics, cloud computing and automotive electronics, stable core business developments are expected in 2022:
- Opto-electronics: dynamic application in green energy, industrial automation, wearables and AR/VR, coupled with smooth delivery of high-end Mini LED.
- Cloud computing: ongoing market share gain and revenue growth from power management solutions with high wattage, high efficiency and high density applied in data center and enterprise customers.
- Automotive Electronics: market demand of EV Charger and ADAS is expected to grow rapidly.
Looking forward to the following three years, opto-electronics and power management solutions used in could computing will be the key engines of profitable growth. The result of smooth delivery is anticipated which is contributed by the development of new products and expansion of new customers from past years. Stable ongoing growth of market share gain is expected in cloud computing and opto-electronics, which will create profit and value to LITEON employees, customers and business partners.
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