"AAC Acoustic Holdings Inc." has changed to "AAC Technologies Holdings Inc."   

Current PostionHomeAbout AACLatest News2014 Q4 Results - Non-Acoustic Segments Contribute 20% of Annual Revenue

2014 Q4 Results - Non-Acoustic Segments Contribute 20% of Annual Revenue

  

AAC Technologies Delivers Record Revenue for the 5th year In a Row

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Non-Acoustic Segments Contribute 20% of Annual Revenue


                                                               

Financial Highlights


(RMB’ Million)

 

 

   For the Year Ended 31 December

Q4 2014

Q3 2014

QoQ

2014

2013

YoY

 

Revenue

3,099

2,064

50%

8,879

8,096

10%

 

Gross Profit

1,275

873

46%

3,678

3,459

6%

 

Gross Profit Margin

41.1%

42.3%

-1.2pt

41.4%

42.7%

-1.3pt

 

Net profit attributable to owners of the Company:

 

Underlying Recurring Net Profit

788

550

43%

2,318

2,255*

3%

 

Reported Net Profit

788

550

43%

2,318

2,578

-10%

 

Underlying Net Profit Margin

25.4%

26.6%

-1.2pt

26.1%

27.8%*

-1.7pt

 

Reported Net Profit Margin

25.4%

26.6%

-1.2pt

26.1%

31.8%

-5.7pt

 

Underlying EPS (RMB$)

0.64

0.45

43%

1.89

1.84*

3%

 

Reported EPS (RMB$)

0.64

0.45

43%

1.89

2.10

-10%

 

 

 

 

 

 

 

 

 

Dividend per Share (HK$)

---

---

---

0.96

1.08

-11%

 

 

*Underlying Recurring Net Profit is a performance indicator of the Company’s core business and is arrived at by excluding non-recurring items (such as disposals of long-term assets, fair value change on investments).

(25 March 2015 – Hong Kong) – AAC Technologies Holdings Inc. (“AAC Technologies” or “the Company”; HKEx: 02018), a world-leading miniaturized technologies components solution provider, today announced its audited financial results for the full year ended 31 December 2014 (“the year”).

 

AAC Technologies delivered strong fourth quarter revenue of RMB 3,099 million, up 50% quarter-over-quarter, as a result of the launch of its customers’ flagship smartphones. Underlying recurring net profit of RMB 788 million was 43% higher than the previous quarter. Gross profit margin slightly retreated by 1.2 percentage points, mainly due to a reduction of average selling price in mature products and an increase in direct costs, including higher labour costs and ramp-up costs of new platforms, offset by better product mix and improved production efficiency. Meanwhile, non-acoustic segments continued to make a more significant contribution, accounting for more than 30% of the fourth quarter’s revenue.

 

The Company has achieved record sales for the fifth year in a row with a full-year revenue of RMB 8,879 million and an underlying recurring net profit of RMB 2,318 million, representing a 10% and 3% increase respectively compared with 2013. Driven by the latest advanced designs and integrated technology solutions in the new non-acoustic segments, sales of RF Mechanical Structure and Haptics surged significantly and accounted for 20% of our total annual revenue. Overall gross profit margin decreased slightly by 1.3 points to 41.4%. Revenue from PRC customers grew 75% year-on-year to more than RMB 2 billion, accounting for 26% of total sales. In acoustics, our unique and innovative design solutions have further helped the Company to lead the industry and maintain a major share of the market.

 

The balance sheet remains conservatively geared with net cash at year-end of RMB 184.6 million. The Board has proposed a final dividend of HK$ 0.71 per ordinary share, giving a total dividend for the year of HK$ 0.96, representing a stable annual payout ratio of about 40%.

 

Mr. Benjamin Pan, Chief Executive Officer of AAC Technologies, said, “Customers continue to look for more acoustic upgrades and enhancement of audio quality. To stay ahead of industry and consumer trends, we have launched collaboration with Smart PA (Power Amplifier) and audio signal processing companies for better sound quality and formulating the next-generation audio standards. We are confident we can continue strengthening our non-acoustic businesses, by providing more customized and competitive solutions that will further cater to the diversified needs of customers and solidify our position as a leading miniaturized total solutions provider.”