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Taiwan Fastener Companies' Revenue Performance for 2022

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2023-04-07

As of March 14 this year, some of the publicly listed fastener companies in Taiwan have revealed their revenue performance for 2022. This articles rounds up their financial data as follows. Note that the currency for the monetary values here is NTD.

The net revenue of Sheh Fung Screws was 2.591 billion, down 9.3% from 2.859 billion in 2021, and the net profit was 370 million, up 34.5% from 275 million in 2021. According to Sheh Fung Screws, their aggressive expansion in the DIY home improvement and construction industry markets, coupled with the depreciation of Taiwan dollar exchange rate and the easing of raw material price fluctuations, contributed to net profit after tax and led to a record high result. In the future, they will continue to further business expansion in the Americas and Europe.

NAFCO's revenue was 2.192 billion, up 53.7% from 1.426 billion in 2021, and net profit was 140 million, up from the loss of 96.72 million in 2021. According to NAFCO, the easing of the pandemic and the lifting of border closures have led to a recovery in global air traffic, which has boosted the demand for aerospace components, resulting in both revenue and profit growth. At present, the order book is full through the end of 2023. In addition to the increase in demand for aerospace parts, the demand for automotive fasteners is also strong. The shipment of aerospace and automotive fasteners is expected to increase greatly this year.

The revenue of Chun Yu Works was 11.049 billion, down 6.4% from 11.81 billion in 2021; the net profit was 537 million, down 27.8% from 744 million in 2021. The heightened global inflation and China's lockdown in 2022 impacted Chun Yu Works revenue in Taiwan and China. Although the revenue and net profit both fell, the revenue continued to broke the 10 billion mark for two consecutive years. In addition, with the Indonesian government continuing to invest in infrastructure, the revenue of Chun Yu Works in Indonesia grew 8%. The company is optimistic that the market could recover in the second quarter.

OFCO's revenue was 4.817 billion, a 28% annual increase and a record high in the past 10 years. Fastener orders decreased due to stockpile remaining high on the clients' side and the slowing economy. The sales unit has adjusted order taking and shipment strategies to mitigate the negative impact of the downturn.

Ta Chen International's revenue was NT$114.1 billion, up 17.87% from 96.8 billion in 2021, and net income was 14.398 billion. The US market outlook was positive in the first half of 2022, with customers actively placing replenishment orders and building up inventory, resulting in a strong demand for Ta Chen International's products. Interest rates rose in the second half of the year and the market turned conservative, but there were still profit gains. The company expects that the market has gone through the worst.

In addition, Brighton-Best International's revenue was 26.224 billion and net pre-tax income was 5.902 billion, while net income was 4.574 billion for the period and 4.526 billion for the company's shareholders. San Shing Fastech's revenue was 7.165 billion, up 0.8% from 7.107 billion in 2021, and net income was 1.06 billion, up 7.9% from 982 million in 2021. Tycoons Group currently has unveiled 12-month cumulative revenue at 9,649 million for 2022, a decrease of 10% from the same period in 2021.

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