Higher Operating Earnings Rise HANA’s Profit to THB564 Million in 3Q21

Hana Microelectronics Public Company Limited (HANA) has announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows; 

For the third quarter ending 30th September 2021, HANA’s net profit increased by 76% to THB 564 million from THB 320 million in 3Q20, due to higher operating earnings in 3Q21.

HANA’s sales revenue for the period increased 23% year-on-year in USD terms to USD 190 million from USD 154 million in 3Q20. The average exchange rate for 3Q21 was 5% weaker at THB/USD 32.9 from THB/USD 31.3 in 3Q20. As a result the sales revenue in THB terms increased 30% year on year for the quarter. 

Year-on-year, in USD terms, the microelectronics division’s sales increased by 22%. Sales in Lamphun increased 22% and Jiaxing increased by 22% year on year. The IC division’s sales revenues increased 27% in 3Q21, with revenues of the IC division in Ayutthaya increasing 22% and Jiaxing increasing by 71%. Hana Technologies Inc, “HTI” the Microdisplay/RFID operation in Ohio sales revenue increased 19% in 3Q21 from 3Q20.

Earnings from operations were 90% higher at THB 696 million in 3Q21 compared to THB 367 million in 3Q20. The operating margin was up 3 percentage points to 11% in 3Q21 from 8% in 3Q20 due to the higher Gross Margin and better economies of scale also. SG&A expenses were 18% higher in 3Q21 than 3Q20 due to lower employee bonuses paid in 2020 and higher salaries in 2021.