WT Microelectronics (3036 TT) (“WT”) held the online investor conference today to update the financial results of the fourth quarter of 2023 and business outlook. Unaudited consolidated revenue for the fourth quarter of 2023 was approximately NT$189.7bn (US$6.0bn), up 13% quarter-on-quarter and 20% year-on-year, operating profit was approximately NT$1,917mn (US$60.5mn), net profit after tax attributable to owners of the parent was approximately NT$1,044mn (US$33mn), and EPS was approximately NT$1.18 based on the weighted average outstanding shares. Unaudited consolidated revenue for the year of 2023 was approximately NT$594.5bn (US$19.1bn), up 4% year-on-year, operating profit was approximately NT$8.2bn (US$263.2mn), net profit after tax attributable to owners of the parent was approximately NT$4.01bn (US$128.8mn), and EPS was approximately NT$4.24 based on the weighted average outstanding shares.
For the outlook of the first quarter of 2024, based on the exchange rate assumption of one US dollar to 31.1 NT dollars, the mid-point consolidated revenue guidance is expected to be approximately NT$170bn (US$5.47bn), up approximately 42% year-on-year. The mid-point net profit after tax attributable to owners of the parent guidance is expected to be approximately NT$1,500mn (US$48.2mn) and the mid-point EPS guidance is expected to be approximately NT$1.5.
After experiencing a demand slowdown and inventory adjustments for the semiconductor market in 2023, the global professional institution Gartner expects the semiconductor market to resume growth in 2024, forecasting a 9.4% CAGR from 2023 to 2027. WT continues investing in applications and products with high growth potential to achieve above-market growth and market share expansion. WT focuses on promoting clean technology products such as green energy, energy storage, and high energy efficiency solutions, and is committed to the goal of achieving net-zero carbon emissions by 2050. We value corporate sustainability and target long-term, sustainable growth.