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

Hana Microelectronics Public Company Limited
GROUP CONSOLIDATED RESULT
First QUARTER ENDED 31st March, 2019

Hana Microelectronics Group 'Hana' Sales Revenue decreased 1% year on year at THB 5.1 billion for the first quarter of 2019 from THB 5.2 billion for the first quarter 2018. Sales Revenue in USD terms decreased 1% to USD 162m for Q1 2019 from USD 165m in Q1 2018. Operating Profits decreased 52% to THB 164m in Q1 2019 from THB 343m in Q1 2018.


´╗┐HIGHLIGHTS

Quarter 1 2019 sales revenue for the group decreased 1% year-on-year in USD terms to USD 162m from USD 165m in Q118. The average exchange rate for Q119 was similar at THB/USD 31.6 from THB/USD 31.5 in Q118. As a result the sales revenue in THB terms also decreased 1% year on year for the quarter.

Year-on-year, in USD terms, the microelectronics divisions sales decreased by 2%. Sales in Lamphun increased 1% whilst Jiaxing decreased by 9%. The IC divisions sales revenues were similar in Q119, with revenues of the IC division in Ayutthaya increasing 6% and Jiaxing decreasing by 30%. "HTI" the Microdisplay/RFID operation in Ohio sales revenue decreased 8%.

Quarter-on-Quarter, in USD terms, sales for the group decreased 5% to USD 163m in Q119 from USD 184m in Q418. In THB equivalent the group sales were down 8% in Q119 compared to Q418 due to the average THB/USD exchange rate being 4% stronger at 31.6 in Q119 from 32.8 in Q418. Sales in the microelectronics divisions decreased 2% with Lamphun increasing 7% and Jiaxing decreasing 20%. Sales revenues from the IC divisions were 7% lower in Q119 with Ayutthaya sales decreasing 6% and Jiaxing IC sales decreasing by 9%. The Microdisplay division sales decreased 26% in Q119 compared to Q418.

The Gross Profit margin was 3 percentage points lower at 8% in Q119 up from Q118 at 11% due to higher higher labour costs 1%, higher depreciation 1%, higher salaries expenses 1% .

Year-on-year operating profits, excluding R&D expenses, were 52% lower at THB 164m in Q119 compared to THB 343m in Q118. The Operating margin was 4 percentage points lower at 3% in Q119 down from 7% in Q118 due to lower gross margin 3% and higher SGA expenses 1%. SG&A expenses were 3% higher in Q119 from Q118 due to higher salary expenses.