GlobalWafers Inc. (6488-TW) announced on Tuesday (May 10) NT$5.258 billion in revenue in April, down 8.3% month-over-month and up 5.23% year-over-year due to end-of-quarter shipment from most of its long-standing customers. Cumulative income for the first four months of April was NT$21.564 billion, an increase of 8.9% year-over-year.
GlobalWafers remains optimistic about its 2022-2025 outlook as customers signed long-term contracts that will help maintain full capacity while prepayments also continued to reach new highs in the first quarter.
GlobalWafers’ prepayment amount reached NT$33.11 billion as of the first quarter. According to GlobalWafers, customer prepayment continued to increase despite uncertainties in the first quarter. Commitment to sign new long-term contracts was also very high.
In light of the recent slowdown in demand for consumer products, GlobalWafers also believes that while demand for cell phones, PCs and other applications is slowing down, demand for automotive and industrial applications remains strong.
However, net income after tax was NT$1.746 billion, down 21.4% QoQ and 35% YoY due to Siltronic’s stock valuation loss. Net income per share was NT$4.01, a near 18-quarter low.