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Stronger Fastener Demand Drives NAFCO's Q1 Revenue up 64%
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2023-04-13
Last year NAFCO benefitted from the easing of the pandemic and reopening of borders, as well as a gradual increase in aerospace customers' demand. Its consolidated revenue reached NTD2.193 billion, a 53.76% increase compared to the same period last year, marking a three-year high and the third highest in its history, and close to the revenue level in 2018 before the pandemic. Profitability benefited from a higher utilization rate and the appreciation of the U.S. dollar, with gross profit margin of 23.33% last year, an increase of 11.68 percentage points; operating income was NTD127 million turning a loss into a profit, with operating profit margin of 5.78%; net profit after tax was NTD150 million.
Looking at this year, the company said that the demand for aerospace fasteners continues to be strong, with most orders visible for more than a year, and if market conditions do not change much, it is expected to maintain good growth in revenue and profitability this year, and the company will continue to increase production capacity in response to customer demand. In addition to aerospace fasteners, NAFCO has also been actively developing its automotive fastener business in recent years, and the parts and components designed in cooperation with Tier 1 car manufacturers are expected to gradually increase in volume and fuel revenue growth. The company recently announced its March 2023 revenue, which reached NTD263 million in a single month, an annual increase of 78.8%; the cumulative revenue for the first three months reached NTD 696 million, an annual increase of 64.02%.
豐達科
航太扣件
需求增加
汽車扣件
T1車廠
車用零組件
NAFCO
aerospace fastener
growing demand
automotive fastener
T1 car manufacturers
automotive components
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