YAGEO Corporation (2327 TW) today announced its unaudited second-quarter results of 2021. Net consolidated sales reported NT$ 27,712 million, up 16.7% q-o-q. Net consolidated profits after tax attributable to parent company in the second quarter reported NT$ 6,326 million, up 25.9% q-o-q, or NT$ 12.81 earnings per share. Gross margin rate posted 41.0%, up 1.9% percentage point q-o-q. The operating profit reached NT$ 7,893 million with 28.5% operating profit margin rate, up 3.0% percentage point q-o-q. Non-operating items posted a net gain of NT$ 457 million in the second quarter. In addition, tax on undistributed earnings was NT$ 200 million, which had the influence to EPS about -NT$ 0.40.

1H21 consolidated sales reported NT$ 51,461 million. Net consolidated profit after tax attribute to parent company reported NT$ 11,350 million, or NT$ 22.98 earnings per share. Gross margin rate posted 40.1%. The operating income reached NT$ 13,937 million with 27.1% of operating profit margin rate. Non-operating items posted a net gain of NT$ 890 million.

Consolidated sales of the second-quarter hit its second highest quarterly revenue in company history and gross margin, operating profit, net profit, and earnings per share of the second-quarter reached at its recent 11 quarters high, attributed to the synergies of post KEMET and Pulse mergers, strong demand from overall customers, and product mix optimization.

Moving forward, overall operation is stable and the company will continue to maximize its production capacity utilization. While there are some inventory concerns in standard market recently, YAGEO continues to benefit from strong momentum in premium market and the synergies with KEMET/Pulse integration and would expect to deliver sequential sales growth and robust margin performance into 3Q21.