Yageo’s April revenue Reaches NT$10.1 Billion, a New High
Passive components maker Yageo Corp. (2327-TW) said on Monday (May 9) that its April revenue was affected by lockdowns in China, impacting logistics and customer shipments.
Revenue for the month was NT$10.145 billion, down 4.5% month-over-month and up 12.5% year-over-year. For the first four months, cumulative income was NT$40.274 billion, up 22.9% year-over-year, both new highs for the same period last year.
Yageo also announced that it bought back 521 treasury shares at the cost of NT$208 million, for a cumulative total of NT$750 million. The company bought back 1,851 treasury shares at an average price of NT$405.41 per share, representing an execution rate of 33.7% compared to the scheduled buyback of 5,500 shares.
Yageo’s revenue performance last month was mainly impacted by lockdowns in Kunshan and Shanghai, which led to a slowdown in demand and delayed shipments due to work stoppages by some customers. Logistics and transportation also affected the supply and delivery of raw materials, resulting in lower revenue than the previous month.
Yageo said that the company’s production operations in China remain normal. However, it still needs to pay close attention to uncertainties such as lockdowns, material supply and logistics, and be cautious about our results and business outlook, the company added.