Hsinchu, Taiwan, March 21, 2019 – The board of directors of SAS today approved the full-year financial statements ended December 31, 2018. Consolidated revenue was NT$69.2 billion, an increase of 16.6% from the previous year recording another historic high. Gross profit was NT$18.6 billion, a 63.5% increase year over year. Operating profit was NT$13.2 billion, a 108.3% increase year over year. Income before tax was NT$13.3 billion, a 159.8% increase year over year. Net income attributed to parent company was NT$1.9 billion, an increase of 88.4% year over year. Earnings per share was NT$3.36, a significant increase by NT$1.56 from NT$1.8 in 2017.
GWC, the semiconductor subsidiary’s consolidtaed revenue was NT$59 billion, also recorded historic high with an EPS of NT$31.18. Net income attributed to parent company was NT$13.6 billion. Revenue injection contributed from GWC reached 85.3%, a high level than before, making SAS’ full-year results an all time high in 2018 as well.
In 2018, the global solar market has experienced a turbulent condition resulting from international trade tensions and changes in the solar policy of various countries. Several providers even closed business or withdrew from the market under the tremendously severe situation. In order to break through the industrial challenges, SAS recognized an asset impairment of NT$2.2 billion in Q4 and keeps focusing on niche products to reduce operating risk and strengthen competitive ability.
The SAS Board today also adopted a proposal recommending a cash dividend of NT$3 per common share from earnings and the capital reserve. The 2019 Annual General Meeting (AGM) of SAS will be held at 9:00 a.m. on June 27, 2019 at Science Park Life Hub.
Despite of the uncertainty in the past years, the solar market is showing signs of slow recovery in 2019. SAS is looking for ways to strengthen its competitiveness in the solar industry with high efficiency solutions including cells, modules, systems and storage solutions. In addition, the revenue contribution from GWC as a strong base will also boost the overall performance for SAS. With a sound financial structure, SAS will be able to develop a business transformation through strategic deployment so as to position itself as an outstanding enterprise.