Hana Microelectronics Posts 5% Revenue Drop in 2020
Hana Microelectronics Group 'Hana' sales revenue decreased 5% year on year, at THB 19.3 billion in year 2020 from THB 20.4 billion in year 2019. Sales revenue in USD terms decreased by 6% to USD 616 million in 2020 from USD 656m in 2019. Earnings from Operations increased 23% to THB 1,725 million in 2020 from THB 1,408 million in 2019.
Group Sales decreased 5% in 2020 to THB 19,282 million from 2019 at THB 20,384 million due to market weakness from the lower sales revenues in (Q2 & Q320) and reduction of inventories held by customers in Q1-Q3 due to the COVID-19 pandemic.
USD sales were 6% lower in 2020 at USD 616 million down from USD 656 million in 2019 as the average THB/USD exchange rate weakened 1% to THB/USD 31.29 in 2020 from THB/USD 31.05 in 2019.