HANA Microelectronics Group. : Content Management
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Group Consolidated Result Forth Quarter Ended [31th December, 2019]

Hana Microelectronics Public Company Limited
GROUP CONSOLIDATED RESULT
Fourth QUARTER ENDED 31st December, 2019

Hana Microelectronics Group 'Hana' Sales Revenue decreased 12% year on year to THB 4.9 billion for the fourth quarter of 2019 from THB 5.6 billion for the fourth quarter 2018. Sales Revenue in USD terms decreased 5% to USD 162m for Q4 2019 from USD 171m in Q4 2018. Operating Profits decreased 30% to THB 453m in Q4 2019 from THB 644m in Q4 2018.



HIGHLIGHTS

Quarter 4 2019 sales revenue for the group decreased 5% year-on-year in USD terms to USD 162m from USD 171m in Q418. The average exchange rate for Q419 was 8% stronger at THB/USD 30.3 from THB/USD 32.8 in Q418. As a result the sales revenue in THB terms decreased 12% year on year for the quarter.

Year-on-year, in USD terms, the microelectronics divisions sales decreased by 1%. Sales in Lamphun increased 10% whilst Jiaxing decreased by 21%. The IC divisions sales revenues decreased 6% in Q419, with revenues of the IC division in Ayutthaya decreasing 6% and Jiaxing decreasing by 7%. "HTI" the Microdisplay/RFID operation in Ohio sales revenue decreased 34% in Q419 from Q418.

Quarter-on-Quarter, in USD terms, sales for the group decreased 4% to USD 162m in Q419 from USD 168m in Q319. In THB equivalent the group sales were down 5% in Q419 compared to Q319. Sales in the microelectronics divisions decreased 3% with Lamphun decreasing 4% and Jiaxing decreasing 1%. Sales revenues from the IC divisions were 3% lower in Q419 with Ayutthaya sales decreasing 2% and Jiaxing IC sales decreasing by 10%. The Microdisplay division sales decreased 14% in Q419 compared to Q319.

The Gross Profit margin was 2 percentage points lower at 13% in Q419 down from Q418 at 15% due to the stronger THB/USD exchange rate [-2%].

Year-on-year operating profits, were 30% lower at THB 453m in Q419 compared to THB 644m in Q418. The Operating margin was 2 percentage points lower at 9% in Q419 down from 11% in Q418 due to lower gross margin 2%. SG&A expenses were 21% lower in Q419 from Q418 due to reduced bonus expense.