Leading industrial PC maker Advantech Co Ltd (研華) yesterday gave an optimistic outlook for this year after posting record sales for last year.
“Facing the challenges of global high inflation and a macroeconomic downturn in 2022, our overall operations continuously outperformed,” Advantech chief financial officer and president of general management Eric Chen (陳清熙) said in a statement.
The company’s consolidated revenue totaled NT$68.75 billion (US$2.25 billion) last year, up 17.27 percent year-on-year and the highest in the company’s history, it said.
Photo: CNA
Advantech, the first regional industrial PC vendor dedicated to smart cities and Internet of Things (IoT), said North America, Europe and emerging markets marked the highest growth in sales last year, up 23 percent, 20 percent and 13 percent respectively from a year earlier.
Shipments to Europe last year stayed on track as some clients still experienced component shortages, despite demand being dragged by geopolitical tension, while sales in the US were in line with the company's expectations despite rising inflation.
“North America and Europe maintained strong order momentum, but the Chinese market registered a single-digit percentage decline from the previous year [amid lockdowns and slower demand] despite dealers’ inventory adjustments in the Chinese market having come to an end,” Chen said.
The company said two major business groups showed double-digit percentage growth in sales last year, with an annual increase of 45 percent in the applied computing group and a 19 percent rise in the service IoT group.
However, the industrial IoT group and the Advantech service plus group posted a slight drop compared with the previous year, it said.
While uncertainty still lies ahead due to the initial stage of China’s reopening after it abruptly dropped its COVID-19 restrictions last month, Chen said the company maintains a positive view this year, citing positive factors such as the global trends of energy transition and infrastructure upgrades.
Analysts said client order outlook for this year has become more conservative. Sectors like new energy, energy storage, environmental protection and medical care should see stronger growth this year, while consumer electronics sector is likely to see a decline, they said.
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