Sino-American Silicon Products Inc. (SAS) board approved Q1 2022 earnings results today with the consolidated revenue of NT$18.77 billion, gross profit of NT$7.46 billion, operating profit of NT$6.21 billion, profit before tax of NT$702.98 million, net income attributable to the parent company of NT$1.27 billion, and EPS of NT$2.16. Revenue has been growing since Q3 2020, and quarterly revenue, gross profit margin and operating income margin all achieved the highest record in history! Among which, SAS’ semiconductor subsidiary, GlobalWafers (GWC) also reported its Q1 2022 results with consolidated revenue of NT$16.31 billion, gross profit of NT$6.95 billion, operating profit of NT$5.89 billion, net income of NT$1.75 billion and EPS of NT$ 4.01. If excluding the non-cash mark-to-market loss on the shares of Siltronic AG which GWC holds, Q1 2022 EPS of SAS and GWC would have amounted to NT$6.21 and NT$14.68 respectively, both reached record high!
Year-over-Year, SAS Q1 2022 consolidated revenue increased by 16.9%, gross profit margin increased by 6.1%, operating profit margin increased by 8.4%, net income attributable to the parent company margin decreased by 2.4% and EPS decreased by NT$0.33. Among them, operating performance of SAS was enhanced by GWC’s outstanding revenue results, which has been growing since Q1 2020, and contributed nearly 90% to SAS’ revenue.
Today the Board of Directors also approved the cash dividend payment plan for the second half of 2021 and resolved to distribute a cash dividend of NT$4.5 per share, with a total amount of NT$2.64 billion for the second half of 2021. If the cash dividend of NT$3.5 per share (total amount of NT$2.05 billion) distributed in the first half is included, an annual cash dividend of NT$8 per share (total annual amount of NT$4.69 billion) is distributed throughout 2021. The dividend payout ratio is as high as 69%! SAS’ Annual General Shareholder Meeting will be convened at 9 a.m. on June 23 at the Hsinchu Science Park Life Hub, Taiwan.
The increasing number of climate-related anomalies are growing in many geographies, posing significant challenges and exposing most population to climate hazard risks. Surging oil price amid the backdrop of Russia-Ukraine war and recent power outages reveal the criticality of building a resilient energy system which could withstand and adapt to the turbulence and instability of climate and macroeconomics. At the same time, as the pursuit for environmental, social, and governance (ESG) grows and demand for clean power from all segments rises, the renewable energy growth is poised to accelerate. Domestic demands are also underpinned by Taiwan government’s energy transition policy which aims to increase the weight of renewables in the power supply to 60 ~70 % by 2050 to achieve net zero emissions, striving to boost the share of alternative energy, particularly solar and wind, to phase out nuclear power and to satisfy economy development. This will translate to 20GW solar installation by 2025 and will further expand to 40~80GW by 2050 according to Taiwan government’s net zero roadmap, expecting to buoy renewable energy demand.
Being a renewable energy total solution provider, SAS not only commits all subsidiaries of its group to use 100% renewable energy by 2050 as response for global energy policy, but also dedicates in sharpening the efficiency of its mono-Si solar cells to maintain market competitiveness and targets to complete capability and capacity upgrade by this year to seize the soaring market demand. Apart from focusing on downstream PV plant O&M (operation and maintenance), SAS also actively deploys in energy storage, renewable energy with full assistance of its subsidiary, GlobalWafers, as well as its upstream and downstream strategic partners to enlarge green power weight and open new avenues in the growing path.
The results of the eighth (2021) Corporate Governance Evaluation are announced. SAS is once again awarded top 5% among all listed companies. This is SAS’ 8th consecutive award, showing its continuous improvement of corporate governance, and its fulfillment of corporate social responsibility.