HANA Microelectronics Group. : Content Management
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Group Consolidated Result First Quarter Ended [31th March, 2018]

Hana Microelectronics Public Company Limited
First QUARTER ENDED 31st March, 2018

Hana Microelectronics Group 'Hana' Sales Revenue decreased 1% year on year at THB 5.2 billion for the first quarter of 2018 from THB 5.2 billion for the first quarter 2017. Sales Revenue in USD terms increased 10% to USD 165m for Q1 2018 from USD 149m in Q1 2017. Operating Profits decreased 40% to THB 355m in Q1 2018 from THB 588m in Q1 2017.


Quarter 1 2018 sales revenue for the group increase 10% year-on-year in USD terms to USD 165m in Q1 18 from USD 149m in Q117. The average exchange rate for Q118 was 10% stronger at THB/USD 31.5 from THB/USD35.1 in Q117. As a result the sales revenue in THB terms decreased 1% year on year for the quarter.

Year-on-year, in USD terms, the microelectronics divisions sales increased by 20%. Sales in Lamphun increased 28% whilst Jiaxing increased by 3%. The IC divisions sales revenues increased 4% in Q118, with revenues of the IC division in Ayutthaya increasing by 2% and Jiaxing increasing by 21%. "HMT" the Microdisplay/RFID operation in Ohio sales revenue decreased 12%.

Quarter-on-Quarter, in USD terms, sales for the group increased 2% from USD 162m in Q417 to USD 165m in Q118. In THB equivalent the group sales were down 3% in Q118 compared to Q417 due to the average THB/USD exchange rate being 4% stronger at 31.5 in Q118 from 32.9 in Q417. Sales in the microelectronics division increased 7% with Lamphun increasing 16% and Jiaxing increasing 13%. Sales revenues from the ICdivisions were 3% lower in Q118 with Ayutthaya sales decreasing 4% and Jiaxing IC sales increasing by 1%. The Microdisplay division sales decreased 28% in Q118 compared to Q417.

The Gross Profit margin was 5 percentage points lower at 11% in Q118 down from Q117 at 16% due to stronger THB/USD exchange rate [-4%] and higher salaries expense [-1%].

Year-on-year operating profits were 40% lower at THB 355m in Q118 compared to THB 588m in Q117. The Operating margin was 7% in Q118 down 4 percentage points from 11% in Q117 due to the lower gross margin. SG&A expenses were 2% higher in Q118 to Q117. R&D expenses were THB 10m in Q118. SG&A expenses in Q118 were 12% lower than in Q417 due to lower provisions in Q118.