Wistron Posts Q1 2024 Financial Results

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Following the meeting of the Board of Directors of Wistron Corp., the company announced the financial results for the first quarter ended March 31, 2024.  The consolidated revenue amounted to NT$239 billion, with operating income reaching NT$7,059 million, profit before tax (PBT) at NT$8,007 million, and profit after tax (PAT) totaling NT$3,524million, resulting in an EPS of NT$1.24.  

In addition to the financial results, the company has made the following announcements.:

- Completion of the transaction to sell Wistron InfoComm Manufacturing (India) Private Limited to Tata Electronics Pvt. Ltd. (TEPL) in March. The transaction concluded at a final price of US$130.8 million (equivalent to NT$ 4.098 billion), resulting in a non-operating loss of US$4.6 million (equivalent to NT$144 million).

- A capital injection of US$15.5 million into Alpha EMS Corporation (referred to as WAE), the company's newly acquired wholly-owned subsidiary in the US, to meet its capital expenditure and operational funding requirements.

- WAE intends to lease a facility in California, USA from LIPT BIXBY III, LLC, and recognizes the right-of-use assets for real estate acquisitions within the limit of US$24.85 million, for a period of 10 years and 4 months.

- The proposed revision of the maximum capital expenditure budget at the Taiwan Hukou plant is to increase it from the original NT$1.603 billion to NT$2.294 billion in response to new business development and strategic planning needs. Specifically, the budget for machinery and equipment investments is increased from NT$1.131 billion to NT$1.731 billion, and the budget for building improvements is increased from NT$472 million to NT$563 million.