Taiwan’s GET swings to USD-16.7m profit in H1 2016

Taiwanese wafer manufacturer Green Energy Technology Inc (TPE:3519), or GET, has returned to a TWD-534-million (USD 16.7m/EUR 15.1m) net profit in the first half (H1) of 2016 from a loss of TWD 967 million a year back.

The firm’s financial statement shows that gross margin for January-June this year haс improved to 9%. This compares to a 9% negative gross margin in the same six months of 2015.

H1 net sales increased to TWD 10.05 billion from TWD 7.43 billion in annual terms.

For the second quarter (Q2) of the year, GET posted a net profit of TWD 163 million versus a TWD-552-million loss the previous year. In quarter-on-quarter terms, the firm’s bottom line declined by 56%.

The company’s revenues for April-June 2016 rose to TWD 4.78 billion from TWD 3.4 billion in 2015, but fell by 9% as compared to the previous quarter.

GET is the solar arm of Taiwanese electrical and electronic products maker Tatung Group. The company expects prices for high-efficient wafer to stabilise in the fourth quarter of 2016.

(TWD 10 = USD 0.312/EUR 0.284)

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