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Taiwan Machine Tools | October 23, 2017

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Machine maker Goodway back in the black in Q2

Machine maker Goodway back in the black in Q2

Machine tool maker Goodway Machine Corp (程泰機械) returned to profit last quarter, posting a net income of NT$114.4 million (US$3.78 million) after losses of NT$17.4 million in the first quarter.

On an annual basis, the manufacturer of computerized numerical control (CNC) machines saw its second-quarter net income jump 153 percent from NT$45.2 million in the same period last year.

Earnings per share were NT$1.04 last quarter, up from NT$0.41 a year ago, company data showed.

Sales last quarter rose 9.6 percent year-on-year to NT$1.82 billion, while operating income rose 3.4 percent to NT$183.1 million, data showed.

The Taichung-based company attributed the profit increase to rising customer demand and a foreign-exchange gain of NT$43 million as the US dollar appreciated.

Awea Mechantronic Co (亞崴) — a subsidiary of Goodway Machine that makes bridge type CNC machinery — reported that net profit rose 43 percent annually to NT$64.6 million last quarter, or earnings per share of NT$0.67.

Sales over the period grew 9 percent to NT$1.05 billion, company data showed.

REVENUE TARGET

Goodway said it has set a sales target of NT$8 billion for the whole group this year, compared with last year’s NT$6.48 billion, on the back of improving demand in the global machinery industry.

To meet growing client demand, the company said its new plant in Chiayi’s Dapumei Intelligent Industrial Park is to start operations in October.

The facility, which will mainly manufacture CNC machines for clients in the aerospace and energy industries, is expected to generate sales of more than NT$600 million per year, the firm said.

Awea is also constructing a new plant in Suzhou, China, which is likely to begin production in the fourth quarter of next year, with an annual sales target of 200 million yuan (US$30 million).

The machinery makers’ strong financial performance was in line with an upward trend in the nation’s machinery exports, the latest industrial data showed.

MACHINERY EXPORTS

Machinery exports last month rose 18.3 percent year-on-year to NT$68.8 billion, according to data compiled by the Taiwan Association of Machinery Industry (台灣機器工業公會).

From January to last month, machinery exports rose 9.1 percent year-on-year to NT$429.8 billion, the association said in a report.

The total production value of Taiwan’s machine tool industry is forecast to grow by 4.8 to 5.8 percent this year from NT$121.2 billion a year earlier, the Industrial Technology Research Institute’s (工研院) Industrial Economics and Knowledge Center (產業經濟與趨勢研究中心) said.

Source: http://www.taipeitimes.com/News/biz/archives/2017/08/15/2003676524

 

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