HANA’s Profit Drops to THB266 Million in 1Q23 as Costs Increase

Hana Microelectronics Public Company Limited (SET: HANA) has announced its 1Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q23 1Q22
Net Profit (Loss)
Million Baht
266.50 365.00
Earning Per Share
0.33 0.45
% Change -26.99

In 1Q23, HANA reported a net profit of THB 266 million, down 27.0% from THB365 million in 1Q22, due to lower IC assembly revenues and increased electricity costs.

Sales revenue increased 6% year on year to TH 6,466 million for the first quarter of 2023 from THB6,107 million for the first quarter 2022. Sales revenue in USD terms increased 3% to USD191 million in 1Q23 from USD185 million in 1Q22. Earnings from operations decreased -28% to THB275 million in 1Q23 from THB384 million in 1Q2022.

The gross profit margin decreased -2% points to 9% in 1Q23 from 11% 1Q22. Gross margin in 1Q decreased due to lower semiconductor assembly revenues and higher electricity expenses.