SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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ASE TECHNOLOGY HOLDING CO., LTD.
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Date: July 29, 2021
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By:
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/s/ Joseph Tung
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Name: Joseph Tung
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Title: Chief Financial Officer
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Investor Relations Contact:
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ir@aseglobal.com
Tel: +886.2.6636.5678
http://www.aseglobal.com
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ASE Technology Holding Co., Ltd. Reports Unaudited
Consolidated Financial Results for the Second Quarter of 2021
Taipei,
Taiwan, R.O.C., July 29, 2021 – ASE Technology Holding Co., Ltd. (TAIEX: 3711, NYSE: ASX) (“We”, “ASEH”,
or the “Company”), the leading provider of semiconductor
manufacturing services in assembly and test, today reported unaudited net revenues1 of NT$126,926 million
for 2Q21, up by 18% year-over-year and up by 6% sequentially. Net income attributable to shareholders of the parent for the quarter totaled
NT$10,338 million, up from a net income attributable to shareholders of the parent of NT$6,937 million in 2Q20 and up from a net income
attributable to shareholders of the parent of NT$8,477 million in 1Q21. Basic earnings per share for the quarter were NT$2.40 (or US$0.171
per ADS), compared to NT$1.63 for 2Q20 and NT$1.97 for 1Q21. Diluted earnings per share for the quarter were NT$2.30 (or US$0.164 per
ADS), compared to NT$1.60 for 2Q20 and NT$1.92 for 1Q21. We have completed the identification of the difference between the cost of the
investment and our share of the net fair value of Asteelflash’s identifiable assets and liabilities in 2Q21; therefore, we retrospectively
adjusted the amounts for 1Q21. Such adjustments included an increase of NT$397 million to total assets, an increase of NT$507 million
to total liabilities and a decrease of NT$110 million to shareholders’ equity as of March 31, 2021. The revaluation resulted in
an increase of NT$119 million to inventory cost, depreciation, amortization, income tax benefit and non-controlling interest for 1Q21.
RESULTS OF OPERATIONS
2Q21
Results Highlights – Consolidated
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l
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Net
revenue contribution from packaging operations, testing operations, EMS operations and others, each represented approximately 51%, 9%,
39% and 1%, respectively, of total net revenues for the quarter.
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l
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Cost
of revenue was NT$102,122 million for the quarter, up from NT$97,584 million in 1Q21.
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-
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Raw material cost totaled NT$58,420 million for
the quarter, representing 46% of total net revenues.
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-
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Labor cost totaled NT$16,144 million for the quarter,
representing 13% of total net revenues.
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1 All financial information presented
in this press release is unaudited, consolidated and prepared in accordance with Taiwan-IFRS (International Financial Reporting Standards
as endorsed for use in the R.O.C.). Such financial information is generated internally by us and has not been subjected to the same review
and scrutiny, including internal auditing procedures and audit by our independent auditors, to which we subject our audited consolidated
financial statements, and may vary materially from the audited consolidated financial information for the same period. Any evaluation
of the financial information presented in this press release should also take into account our published audited consolidated financial
statements and the notes to those statements. In addition, the financial information presented is not necessarily indicative of our results
of operations for any future period.
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-
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Depreciation, amortization and rental expenses
totaled NT$12,402 million for the quarter.
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l
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Gross margin increased 1.2 percentage points to
19.5% in 2Q21 from 18.3% in 1Q21.
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l
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Operating margin was 10.4% in 2Q21, compared to
9.1% in 1Q21.
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l
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In terms of non-operating items:
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-
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Net interest expense was NT$569 million.
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-
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Net foreign exchange gain of NT$1,057 million
was primarily attributable to the depreciation of U.S. dollar against New Taiwan dollar.
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-
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Loss on valuation of financial assets and liabilities
was NT$1,050 million.
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-
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Net gain on equity-method investments was NT$219 million.
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-
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Other net non-operating income of NT$513 million was primarily attributable to miscellaneous income. Total
non-operating income for the quarter was NT$170 million.
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l
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Income before tax was NT$13,344 million for 2Q21,
compared to NT$11,180 million in 1Q21. We recorded income tax expenses of NT$2,648 million for the quarter, compared to NT$2,451 million
in 1Q21.
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l
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In
2Q21, net income attributable to shareholders of the parent was NT$10,338 million, compared to NT$6,937 million in 2Q20 and NT$8,477 million
in 1Q21.
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l
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Our
total number of shares outstanding at the end of the quarter was 4,382,932,382, including treasury stock owned by our subsidiaries. Our
2Q21 basic earnings per share of NT$2.40 (or US$0.171 per ADS) were based on 4,309,821,394 weighted average numbers of shares outstanding
in 2Q21. Our 2Q21 diluted earnings per share of NT$2.30 (or US$0.164 per ADS) were based on 4,362,634,153 weighted average number of shares
outstanding in 2Q21.
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2Q21
Results Highlights – ATM2
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l
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Cost
of revenues was NT$58,778 million for the quarter, up by 5% sequentially.
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2 ATM stands for Semiconductor Assembly, Testing and Material.
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-
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Raw material cost totaled NT$19,808 million for
the quarter, representing 25% of total net revenues.
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-
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Labor cost totaled NT$13,706 million for the quarter,
representing 17% of total net revenues.
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-
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Depreciation, amortization and rental expenses
totaled NT$11,398 million for the quarter.
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l
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Gross
margin increased 1.2 percentage points to 25.6% in 2Q21 from 24.4% in 1Q21.
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l
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Operating
margin was 15.0% in 2Q21, compared to 13.4% in 1Q21.
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2Q21
Results Highlights – EMS
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l
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Cost
of revenues for the quarter was NT$44,678 million, up by 2% sequentially.
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-
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Raw material cost totaled NT$38,472 million for
the quarter, representing 78% of total net revenues.
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-
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Labor cost totaled NT$2,336 million for the quarter,
representing 5% of total net revenues.
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-
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Depreciation, amortization and rental expenses
totaled NT$873 million for the quarter.
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l
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Gross margin increased 0.7 percentage points to
9.1% in 2Q21 from 8.4% in 1Q21.
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l
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Operating margin was 2.6% in 2Q21, compared to
2.5% in 1Q21.
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LIQUIdiTY AND CAPITAL
RESOURCES
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l
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Capital
expenditures in 2Q21 totaled US$611 million, of which US$450 million were used in packaging operations, US$116 million in testing operations,
US$39 million in EMS operations and US$6 million in interconnect materials operations and others.
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l
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As
of June 30, 2021, total unused credit lines amounted to NT$276,357 million.
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l
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Current
ratio was 1.30 and net debt to equity ratio was 0.60 as of June 30, 2021.
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l
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Total
number of employees was 103,164 as of June 30, 2021, compared to 101,785 as of March 31, 2021.
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Business Review
Customers
ATM consolidated
Basis
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l
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Our
five largest customers together accounted for approximately 43% of our total net revenues in 2Q21, compared to 44% in 1Q21. Two customers
each accounted for more than 10% of our total net revenues in 2Q21 individually.
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l
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Our
top 10 customers contributed 55% of our total net revenues both in 2Q21 and 1Q21.
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l
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Our
customers that are integrated device manufacturers or IDMs accounted for 31% of our total net revenues both in 2Q21 and 1Q21.
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EMS Basis
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l
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Our
five largest customers together accounted for approximately 70% of our total net revenues in 2Q21, compared to 73% in 1Q21. One customer
accounted for more than 10% of our total net revenues in 2Q21.
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l
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Our
top 10 customers contributed 78% of our total net revenues in 2Q21, compared to 80% in 1Q21.
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About
ASE Technology Holding Co., Ltd.
ASEH is the leading provider of
semiconductor manufacturing services in assembly and test. The Company develops and offers complete turnkey solutions covering
front-end engineering test, wafer probing and final test, as well as IC packaging, materials and electronic manufacturing services
through USI with superior technologies, breakthrough innovations, and advanced development programs.
With advanced technological capabilities and a global presence spanning Taiwan, China, South Korea, Japan, Singapore, Malaysia and
Mexico as well as the United States and Europe, ASEH has established a reputation for reliable, high quality products and services.
For more nformation, please visit our website at https://www.aseglobal.com.
Safe Harbor Notice
This press release contains "forward-looking
statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United
States Securities Exchange Act of 1934, as amended. Although these forward-looking statements, which may include statements regarding
our future results of operations, financial condition or business prospects, are based on our own information and information from other
sources we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the
date of this presentation. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“plan” and similar expressions, as they relate to us, are intended to identify these forward-looking statements in this presentation.
These forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and our actual results
of operations, financial condition or business prospects may differ materially from those expressed or implied by the forward-looking
statements for reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor or electronic
industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to
resolve environmental liabilities; demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we
offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our
ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future
expansion plans and capital expenditures; the strained relationship between the Republic of China and the People’s Republic of China;
general economic and political conditions; the recent shift in United States trade policies; possible disruptions in commercial activities
caused by natural or human-induced disasters; fluctuations in foreign currency exchange rates; and other factors. For a discussion
of these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including
the 2020 Annual Report on Form 20-F filed on April 6, 2021.
Supplemental
Financial Information
Consolidated
Operations
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2Q/21
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1Q/21
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2Q/20
|
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EBITDA (NT$ Millions)
|
27,350
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24,867
|
22,488
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ATM
Consolidated Operations
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2Q/21
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1Q/21
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2Q/20
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|
Net Revenues (NT$ Millions)
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78,988
|
73,767
|
69,516
|
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Revenues
by Application
|
|
|
|
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Communication
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50%
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50%
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54%
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Computing
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14%
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14%
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14%
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Automotive, Consumer & Others
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36%
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36%
|
32%
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Revenues
by Type
|
|
|
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Bumping, Flip Chip, WLP & SiP
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33%
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34%
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38%
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Wirebonding
|
42%
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40%
|
35%
|
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Discrete and Others
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8%
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9%
|
7%
|
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Testing
|
15%
|
15%
|
18%
|
|
Material
|
2%
|
2%
|
2%
|
|
Capacity
& EBITDA
|
|
|
|
|
CapEx (US$ Millions)*
|
570
|
460
|
424
|
|
EBITDA (NT$ Millions)
|
24,671
|
22,566
|
20,037
|
|
Number of Wirebonders
|
29,056
|
27,574
|
24,667
|
|
Number of Testers
|
6,001
|
5,862
|
5,790
|
EMS
Operations
|
|
2Q/21
|
1Q/21
|
2Q/20
|
|
Net Revenues (NT$ Millions)
|
49,154
|
47,693
|
39,709
|
|
Revenues
by End Application
|
|
|
|
|
Communication
|
39%
|
39%
|
46%
|
|
Computing & Storage
|
10%
|
7%
|
12%
|
|
Consumer
|
28%
|
33%
|
28%
|
|
Industrial
|
16%
|
14%
|
10%
|
|
Automotive
|
5%
|
5%
|
3%
|
|
Others
|
2%
|
2%
|
1%
|
|
Capacity
|
|
|
|
|
CapEx (US$ Millions)*
|
39
|
11
|
70
|
*
Capital expenditure excludes building construction costs.
ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Comprehensive
Income Data
(In NT$ millions, except per share data)
(Unaudited)
|
|
For the three months ended
|
|
For the six months ended
|
|
|
Jun. 30
2021
|
|
Mar. 31
2021[3]
|
|
Jun. 30
2020
|
|
Jun. 30
2021
|
|
Jun. 30
2020
|
|
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Packaging
|
64,149
|
|
59,033
|
|
53,622
|
|
123,182
|
|
105,235
|
|
|
Testing
|
11,676
|
|
11,130
|
|
12,690
|
|
22,806
|
|
24,253
|
|
|
EMS
|
49,147
|
|
47,684
|
|
39,703
|
|
96,831
|
|
72,424
|
|
|
Others
|
1,954
|
|
1,623
|
|
1,534
|
|
3,577
|
|
2,994
|
|
|
Total net revenues
|
126,926
|
|
119,470
|
|
107,549
|
|
246,396
|
|
204,906
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
(102,122)
|
|
(97,584)
|
|
(88,740)
|
|
(199,706)
|
|
(169,941)
|
|
|
Gross profit
|
24,804
|
|
21,886
|
|
18,809
|
|
46,690
|
|
34,965
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
(5,076)
|
|
(4,769)
|
|
(4,837)
|
|
(9,845)
|
|
(9,446)
|
|
|
Selling, general and administrative
|
(6,554)
|
|
(6,209)
|
|
(5,545)
|
|
(12,763)
|
|
(11,029)
|
|
|
Total operating expenses
|
(11,630)
|
|
(10,978)
|
|
(10,382)
|
|
(22,608)
|
|
(20,475)
|
|
|
Operating income
|
13,174
|
|
10,908
|
|
8,427
|
|
24,082
|
|
14,490
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net non-operating (expenses) income:
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense - net
|
(569)
|
|
(572)
|
|
(771)
|
|
(1,141)
|
|
(1,664)
|
|
|
Foreign exchange gain (loss)
|
1,057
|
|
(224)
|
|
718
|
|
833
|
|
394
|
|
|
Gain (loss) on valuation of financial assets and liabilities
|
(1,050)
|
|
391
|
|
(17)
|
|
(659)
|
|
169
|
|
|
Gain (loss) on equity-method investments
|
219
|
|
149
|
|
105
|
|
368
|
|
66
|
|
|
Others
|
513
|
|
528
|
|
417
|
|
1,041
|
|
661
|
|
|
Total non-operating income (expenses)
|
170
|
|
272
|
|
452
|
|
442
|
|
(374)
|
|
|
Income before tax
|
13,344
|
|
11,180
|
|
8,879
|
|
24,524
|
|
14,116
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
(2,648)
|
|
(2,451)
|
|
(1,646)
|
|
(5,099)
|
|
(2,821)
|
|
|
Income from continuing operations and
before non-controlling interest
|
10,696
|
|
8,729
|
|
7,233
|
|
19,425
|
|
11,295
|
|
|
Non-controlling interest
|
(358)
|
|
(252)
|
|
(296)
|
|
(610)
|
|
(459)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to
shareholders of the parent
|
10,338
|
|
8,477
|
|
6,937
|
|
18,815
|
|
10,836
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per share data:
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (losses) per share
|
|
|
|
|
|
|
|
|
|
|
|
– Basic
|
NT$2.40
|
|
NT$1.97
|
|
NT$1.63
|
|
NT$4.37
|
|
NT$2.54
|
|
|
– Diluted
|
NT$2.30
|
|
NT$1.92
|
|
NT$1.60
|
|
NT$4.25
|
|
NT$2.49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (losses) per equivalent ADS
|
|
|
|
|
|
|
|
|
|
|
|
– Basic
|
US$0.171
|
|
US$0.139
|
|
US$0.109
|
|
US$0.310
|
|
US$0.170
|
|
|
– Diluted
|
US$0.164
|
|
US$0.135
|
|
US$0.107
|
|
US$0.302
|
|
US$0.166
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of weighted average shares used in
diluted EPS calculation (in thousands)
|
4,362,634
|
|
4,357,714
|
|
4,273,770
|
|
4,363,749
|
|
4,279,072
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FX (NTD/USD)
|
28.03
|
|
28.30
|
|
29.94
|
|
28.17
|
|
29.97
|
|
3 We have completed the identification
of the difference between the cost of the investment and our share of the net fair value of Asteelflash’s identifiable assets and
liabilities in 2Q21; therefore, we retrospectively adjusted the amounts for 1Q21. Such adjustments included an increase of NT$397 million
to total assets, an increase of NT$507 million to total liabilities and a decrease of NT$110 million to shareholders’ equity as
of March 31 2021. The revaluation resulted in an increase of NT$119 million to inventory cost, depreciation, amortization, income tax
benefit and non-controlling interest for 1Q21.
ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Comprehensive
Income Data – ATM
(In NT$ millions, except per share data)
(Unaudited)
|
|
For the three months ended
|
|
For the six months ended
|
|
|
Jun. 30
2021
|
|
Mar. 31
2021
|
|
Jun. 30
2020
|
|
Jun. 30
2021
|
|
Jun. 30
2020
|
|
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Packaging
|
65,936
|
|
61,545
|
|
55,732
|
|
127,481
|
|
109,332
|
|
|
Testing
|
11,677
|
|
11,131
|
|
12,693
|
|
22,808
|
|
24,259
|
|
|
Direct Material
|
1,372
|
|
1,044
|
|
1,051
|
|
2,416
|
|
2,065
|
|
|
Others
|
3
|
|
47
|
|
40
|
|
50
|
|
69
|
|
|
Total net revenues
|
78,988
|
|
73,767
|
|
69,516
|
|
152,755
|
|
135,725
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
(58,778)
|
|
(55,760)
|
|
(54,434)
|
|
(114,538)
|
|
(107,309)
|
|
|
Gross profit
|
20,210
|
|
18,007
|
|
15,082
|
|
38,217
|
|
28,416
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
(3,829)
|
|
(3,697)
|
|
(3,777)
|
|
(7,526)
|
|
(7,425)
|
|
|
Selling, general and administrative
|
(4,554)
|
|
(4,392)
|
|
(4,081)
|
|
(8,946)
|
|
(8,195)
|
|
|
Total operating expenses
|
(8,383)
|
|
(8,089)
|
|
(7,858)
|
|
(16,472)
|
|
(15,620)
|
|
|
Operating income
|
11,827
|
|
9,918
|
|
7,224
|
|
21,745
|
|
12,796
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Comprehensive
Income Data – EMS
(In NT$ millions, except per share data)
(Unaudited)
|
|
For the three months ended
|
|
For the six months ended
|
|
|
Jun. 30
2021
|
|
Mar. 31
20213
|
|
Jun. 30
2020
|
|
Jun. 30
2021
|
|
Jun. 30
2020
|
|
|
Net revenues:
|
|
|
|
|
|
|
|
|
|
|
|
Total net revenues
|
49,154
|
|
47,693
|
|
39,709
|
|
96,847
|
|
72,436
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
(44,678)
|
|
(43,682)
|
|
(35,979)
|
|
(88,360)
|
|
(65,658)
|
|
|
Gross profit
|
4,476
|
|
4,011
|
|
3,730
|
|
8,487
|
|
6,778
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Research and development
|
(1,274)
|
|
(1,097)
|
|
(1,085)
|
|
(2,371)
|
|
(2,068)
|
|
|
Selling, general and administrative
|
(1,929)
|
|
(1,738)
|
|
(1,403)
|
|
(3,667)
|
|
(2,697)
|
|
|
Total operating expenses
|
(3,203)
|
|
(2,835)
|
|
(2,488)
|
|
(6,038)
|
|
(4,765)
|
|
|
Operating income
|
1,273
|
|
1,176
|
|
1,242
|
|
2,449
|
|
2,013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASE Technology Holding Co., Ltd.
Summary of Consolidated Balance Sheet Data
(In NT$ millions)
(Unaudited)
|
|
As of Jun. 30, 2021
|
|
As of Mar. 31, 20213
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
52,987
|
|
|
|
73,783
|
|
Financial assets – current
|
|
|
4,492
|
|
|
|
5,114
|
|
Notes and accounts receivable
|
|
|
88,644
|
|
|
|
81,726
|
|
Inventories
|
|
|
75,869
|
|
|
|
66,949
|
|
Others
|
|
|
15,369
|
|
|
|
14,629
|
|
Total current assets
|
|
|
237,361
|
|
|
|
242,201
|
|
|
|
|
|
|
|
|
|
|
Financial assets – non-current &
Investments – equity
method
|
|
|
19,982
|
|
|
|
19,168
|
|
Property plant and equipment
|
|
|
244,861
|
|
|
|
237,908
|
|
Right-of-use assets
|
|
|
9,842
|
|
|
|
9,067
|
|
Intangible assets
|
|
|
78,254
|
|
|
|
78,810
|
|
Others
|
|
|
21,557
|
|
|
|
19,472
|
|
Total assets
|
|
|
611,857
|
|
|
|
606,626
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
Short-term borrowings
|
|
|
40,460
|
|
|
|
41,186
|
|
Current portion of bonds payable & Current portion of long-term borrowings
|
|
|
8,563
|
|
|
|
8,133
|
|
Notes and accounts payable
|
|
|
70,893
|
|
|
|
62,059
|
|
Others
|
|
|
62,778
|
|
|
|
56,472
|
|
Total current liabilities
|
|
|
182,694
|
|
|
|
167,850
|
|
|
|
|
|
|
|
|
|
|
Bonds payable
|
|
|
48,474
|
|
|
|
48,457
|
|
Long-term borrowings4
|
|
|
106,124
|
|
|
|
124,247
|
|
Other liabilities
|
|
|
20,060
|
|
|
|
20,078
|
|
Total liabilities
|
|
|
357,352
|
|
|
|
360,632
|
|
|
|
|
|
|
|
|
|
|
Equity attributable to shareholders of the parent
|
|
|
238,993
|
|
|
|
229,671
|
|
Non-controlling interests
|
|
|
15,512
|
|
|
|
16,323
|
|
Total liabilities & shareholders’ equity
|
|
|
611,857
|
|
|
|
606,626
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Ratio
|
|
|
1.30
|
|
|
|
1.44
|
|
Net Debt to Equity Ratio
|
|
|
0.60
|
|
|
|
0.61
|
_____________________
4Long-term
borrowings include long-term loans and bills payable.
ASE Technology Holding
Co., Ltd.
Summary of Consolidated Cash Flow Statements
(In NT$ millions)
(Unaudited)
|
|
|
For the three months ended
|
|
For the six months ended
|
|
|
|
Jun. 30
|
|
Mar. 31
|
|
Jun. 30
|
|
Jun. 30
|
|
Jun. 30
|
|
|
|
2021
|
20213
|
2020
|
2021
|
2020
|
|
Cash Flows from Operating Activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before income tax
|
|
13,344
|
|
11,180
|
|
8,879
|
|
24,524
|
|
14,116
|
|
|
Depreciation & amortization
|
|
13,460
|
|
13,130
|
|
12,785
|
|
26,590
|
|
25,472
|
|
|
Other operating activities items
|
|
(8,573)
|
|
(8,559)
|
|
(1,659)
|
|
(17,132)
|
|
(6,135)
|
|
|
Net cash generated from operating activities
|
|
18,231
|
|
15,751
|
|
20,005
|
|
33,982
|
|
33,453
|
|
|
Cash Flows from Investing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net payments for property, plant and equipment
|
|
(18,440)
|
|
(14,053)
|
|
(16,587)
|
|
(32,493)
|
|
(30,192)
|
|
|
Other investment activities items
|
|
(1,259)
|
|
(205)
|
|
1,902
|
|
(1,464)
|
|
1,697
|
|
|
Net cash used in investing activities
|
|
(19,699)
|
|
(14,258)
|
|
(14,685)
|
|
(33,957)
|
|
(28,495)
|
|
|
Cash Flows from Financing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net proceeds from (repayment of) borrowings
|
|
(16,640)
|
|
19,600
|
|
(18,900)
|
|
2,960
|
|
(5,011)
|
|
|
Other financing activities items
|
|
(1,022)
|
|
1,613
|
|
(457)
|
|
591
|
|
(262)
|
|
|
Net cash generated from (used in) financing activities
|
|
(17,662)
|
|
21,213
|
|
(19,357)
|
|
3,551
|
|
(5,273)
|
|
|
Foreign currency exchange effect
|
|
(1,666)
|
|
(461)
|
|
(1,569)
|
|
(2,127)
|
|
(1,593)
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
(20,796)
|
|
22,245
|
|
(15,606)
|
|
1,449
|
|
(1,908)
|
|
|
Cash and cash equivalents at the beginning of period
|
|
73,783
|
|
51,538
|
|
73,829
|
|
51,538
|
|
60,131
|
|
|
Cash and cash equivalents at the end of period
|
|
52,987
|
|
73,783
|
|
58,223
|
|
52,987
|
|
58,223
|
|