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Hon Hai Posts Revenue Up 0.3% Y/Y in Q420 and up 45% in Q121
Hon Hai Precision announced its Q420 results with sales at NT$5,358b (up 0.3% Y/Y), GP at NT$303b (down 4%), OP at NT$111b (down
4% Y/Y), and NP attributable to shareholders at NT$102b (down 12%). Although the COVID-19 outbreak had a major impact in 1Q, the company made up for lost ground from 2Q onwards and achieved sales and profit at around the same levels as the previous year. The consumer segment (smartphones, games, etc.) sales rose 28% YoY and 139% sequentially, enterprise (servers/networks) sales rose 4% Y/Y and flat sequentially, computing (PCs/tablets) segment sales fell 4% and 3%, and parts and others segment sales were down 8% and down 11%. 1Q guidance calls for double-digit Y/Y sales growth, breaking down as double-digit growth for consumer and components and single-digit growth for both enterprise and computing. For what it’s worth, Hon Hai CEO Young Liu said he was cautiously optimistic about the business environment in 2021 due to the pandemic and component shortages (which have become more acute recently versus Jan– Feb, making it more difficult to respond to additional demand from customers in particular). Mr. Liu expects the impact to continue throughout 2021. He is optimistic about demand and said consumer products performed better than expected in 4Q and 1Q, sales of components were strong while enterprise and computing were reasonably solid. For full-year 2021, the company expects single-digit sales growth overall, with a single-digit decline in PC sales and single-digit sales growth in all other segments.
In Q121 Foxconn Electronics (Hon Hai reported consolidated revenues climbed 44.5% on year to NT$1.34 trillion (US$47 billion) in the first quarter of 2021, which came within the company's guidance range. Foxconn registered consolidated revenues of NT$441.22 billion for March, up 9.78% on month and 26.91% on year.
Hon Hai Precision announced its Q420 results with sales at NT$5,358b (up 0.3% Y/Y), GP at NT$303b (down 4%), OP at NT$111b (down
4% Y/Y), and NP attributable to shareholders at NT$102b (down 12%). Although the COVID-19 outbreak had a major impact in 1Q, the company made up for lost ground from 2Q onwards and achieved sales and profit at around the same levels as the previous year. The consumer segment (smartphones, games, etc.) sales rose 28% YoY and 139% sequentially, enterprise (servers/networks) sales rose 4% Y/Y and flat sequentially, computing (PCs/tablets) segment sales fell 4% and 3%, and parts and others segment sales were down 8% and down 11%. 1Q guidance calls for double-digit Y/Y sales growth, breaking down as double-digit growth for consumer and components and single-digit growth for both enterprise and computing. For what it’s worth, Hon Hai CEO Young Liu said he was cautiously optimistic about the business environment in 2021 due to the pandemic and component shortages (which have become more acute recently versus Jan– Feb, making it more difficult to respond to additional demand from customers in particular). Mr. Liu expects the impact to continue throughout 2021. He is optimistic about demand and said consumer products performed better than expected in 4Q and 1Q, sales of components were strong while enterprise and computing were reasonably solid. For full-year 2021, the company expects single-digit sales growth overall, with a single-digit decline in PC sales and single-digit sales growth in all other segments.
In Q121 Foxconn Electronics (Hon Hai reported consolidated revenues climbed 44.5% on year to NT$1.34 trillion (US$47 billion) in the first quarter of 2021, which came within the company's guidance range. Foxconn registered consolidated revenues of NT$441.22 billion for March, up 9.78% on month and 26.91% on year.
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