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NAFCO's 2021 Revenue Drops 16.3%
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2022-01-13
With the U.S. and Europe opening up markets in the last quarter of 2021, aerospace fastener company NAFCO's December revenue peaked at NTD 175 million, up 54.34% monthly and up 9.97% over December 2020. The Q4 consolidated revenue reached NTD 424 million, up 18.45% quarterly and up 23.37% over Q4 2020, setting the highest quarterly record. As a result of the pandemic's impact in H1 2021 and the subsequent reduced demand, the consolidated 12-month revenue for 2021 was NTD 1.426 billion, down 16.3% from the same period in 2020.
The world's aerospace industry was stricken since the COVID outbreak in Q1 2020. Looking into 2022, despite continuous existence of the virus, the aerospace industry demand is expected to recover as more people have got themselves vaccinated in the U.S. and Europe. NAFCO is a long-time supplier to Boeing and Airbus and its future sales are expected to gradually become stable.
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