Delta Electronics’ net profit down 15.77%

‘DARK UNCERTAINTIES’: The automation business, which is dependent on the Chinese market, has hit rock bottom amid uncertainties over tariffs, chairman Yancey Hai said

Taipei Times
Date: Nov 01, 2019
By: Natasha Li  /  Staff reporter

Delta Electronics Co (台達電) yesterday gave a flat outlook for this quarter as it reported a 15.77 percent year-on-year decline in net profit of NT$5.13 billion (US$168.41 million) for the third quarter, resulting in earnings per share of NT$1.97.

The Taipei-based company blamed the decline on its automation segment’s poor performance, which saw operating profit plunge 20 percent year-on-year, and a bumpy takeover of Delta Electronics (Thailand) PCL (泰達電), in which it acquired a 63.78 percent stake in April.

The company’s automation business, which contributed 13 percent to overall revenue last quarter, has hit rock bottom, chairman Yancey Hai (海英俊) said.

“Our industrial automation business depends largely on the China market, as it brings in around half of [the business’] revenue … however, there are a lot of market uncertainties due to US tariffs,” Hai told investors at an earnings conference in Taipei.    [FULL  STORY]

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