HANA Gains over 75% of Net Profit in 3Q23 from FX Income

Hana Microelectronics PCL (SET: HANA) reported its Q3 financial result on 13 November with details as follows.

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
733.90 416.64
Earning Per Share
0.9100 0.5200
% Change 76.15
9 Months 2023 2022
Net Profit (Loss)
Million Baht
1,635.77 1,026.59
Earning Per Share (Baht) 2.0300 1.2800
% Change 59.34


HANA ’s net profit increased to THB 734 million in Q323, a +76.15% YoY increase from THB 417 million in Q322, due to foreign exchange gain in Q323 and foreign exchange loss in Q322 offsetting the decreased earnings from operations, which decreased -19% YoY to THB 698 million from THB 864 million. The operating margin was similar at 11% in Q323 and 11% in Q322. SG&A expenses increased 11% YoY.


The offshore subsidiaries income statements are translated at the average rate for the quarter, (for their respective currencies). The balance sheets of the offshore companies were translated at the closing rate of THB/USD 36.56 at 30/09/23, and 37.91 at 30/09/22 (35.59 at 30/06/23) or the respective rate applicable to each offshore subsidiary’s base currency.


HANA’s sales revenue decreased -13% YoY to THB 6,555 million from THB 7,545 million. Sales revenue in USD terms decreased -10% YoY to USD 186 million from USD 207 million.


In year-on-year (YoY) and USD terms, the microelectronics division’s sales decreased by -3%. Sales in Lamphun increased 8% and Jiaxing decreased by -32% year on year. The IC division’s sales revenues decreased -25% in Q323, with revenues of the IC division in Ayutthaya decreasing -23% and Jiaxing decreasing by -36%. Hana Technologies Inc. ‘HTI’ the Microdisplay/RFID operation in Ohio sales revenue increased 8% YoY.


In addition, HANA announced its interim dividend payment with Ex-dividend date on 28-Nov-2023, with a cash dividend payment of 0.50 baht per share on payment date of 13-Dec-2023, from its operating period from 01-Jan-2023 to 30-Sep-2023 and retained earnings.