Delta Electronics could benefit from rising EV charging station demand in Europe

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Nuying Huang, Taipei; Kevin Cheng, DIGITIMES

Thursday 23 June 2022

Latest stock

Delta [2308] historical stock price (NT$)
Date	Volume (k)	Transactions	Value	Open	High	Low	Close	Change		Ask	Bid
7-Jul	7,628	5,794	1,675,595,564	215.50	223.50	213.00	221.00	+10.50	+4.99%	221.00	221.50
6-Jul	7,266	10,244	1,561,628,024	221.00	222.50	210.50	210.50	-10.00	-4.54%	210.50	211.00
5-Jul	6,869	7,209	1,515,670,191	222.00	224.50	217.50	220.50	+1.50	+0.68%	220.50	221.00
4-Jul	7,115	11,305	1,555,801,051	218.00	221.50	214.00	219.00	-2.50	-1.13%	219.00	219.50
1-Jul	8,277	7,394	1,838,063,834	220.50	227.00	219.00	221.50	+0.00	+0.00%	221.50	222.00
30-Jun	6,259	8,152	1,391,740,252	223.50	225.00	220.50	221.50	-6.00	-2.64%	221.50	222.00
29-Jun	6,744	5,711	1,526,569,286	227.50	228.50	225.00	227.50	+0.00	+0.00%	227.00	227.50
28-Jun	5,713	3,957	1,349,297,412	237.50	239.00	234.00	236.00	-0.50	-0.21%	235.50	236.00

Latest sales

Delta: Consolidated revenues, May 2021 - May 2022 (NT$m)
Month	Sales	M/M	Y/Y	YTD	Y/Y
May-22	30,568	12.1%	17%	140,380	12.3%
Apr-22	27,274	(11%)	3.2%	109,812	11%
Mar-22	30,648	19.6%	13.4%	82,538	13.9%
Feb-22	25,620	(2.5%)	25.9%	51,890	14.2%
Jan-22	26,270	(12.6%)	4.6%	26,270	4.6%
Dec-21	30,055	10%	11.7%	314,671	11.4%
Nov-21	27,336	3.6%	7.2%	284,616	11.3%
Oct-21	26,378	(3.5%)	0.9%	257,280	11.8%
Sep-21	27,345	5.5%	2%	230,901	13.2%
Aug-21	25,924	(1.7%)	3.3%	203,556	14.8%
Jul-21	26,377	0.7%	2.3%	177,632	16.7%
Jun-21	26,204	0.3%	10%	151,255	19.7%
May-21	26,126	(1.2%)	10.8%	125,051	21.9%

*Figures are consolidated
Source: TSE, compiled by Digitimes, July 2022

Delta: Consolidated revenues, 1Q21 - 1Q22 (NT$m)
Quarter	Sales	Q/Q	Y/Y	YTD	Y/Y
1Q-22	82,538	(1.5%)	13.9%	82,538	13.9%
4Q-21	83,769	5.2%	6.6%	314,671	11.4%
3Q-21	79,646	1.1%	2.5%	230,901	13.2%
2Q-21	78,770	8.7%	11.4%	151,255	19.7%
1Q-21	72,485	(7.7%)	30.2%	72,485	30.2%

*Figures are consolidated
Source: TSE, compiled by Digitimes, July 2022

Latest balance sheet and income statement

Delta: Consolidated balance sheet, 1Q21 - 1Q22 (NT$k)
Item	1Q-2022	4Q-2021	3Q-2021	2Q-2021	1Q-2021
Current assets	201,707,992	196,878,194	190,872,503	187,455,410	178,758,772
Intangible assets	75,163,017	73,609,564	72,674,814	73,641,438	75,992,081
Non-current assets	172,485,323	168,234,116	164,751,154	163,463,724	165,041,999
Assets	374,193,315	365,112,310	355,623,657	350,919,134	343,800,771
Current liabilities	103,655,143	108,169,477	102,881,487	113,891,351	96,745,017
Non-current liabilities	70,684,968	70,818,175	72,663,877	61,795,356	61,320,856
Liabilities	174,340,111	178,987,652	175,545,364	175,686,707	158,065,873
Stockholders' equity	199,853,204	186,124,658	180,078,293	175,232,427	185,734,898

*Figures are consolidated
Source: TSE, compiled by Digitimes, July 2022

Delta: Consolidated income statement, 1Q21 - 1Q22 (NT$k)
Item	1Q-2022		4Q-2021		3Q-2021		2Q-2021		1Q-2021
Item	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales	NT$k	% of sales
Operating revenue	82,538,075		83,769,457		79,646,172		78,769,884		72,485,283
Gross profit (loss) from operations	22,512,556	27.3%	22,378,767	26.7%	22,543,598	28.3%	23,679,865	30.1%	21,607,221	29.8%
Operating expenses	15,043,436	18.2%	15,073,626	18%	14,765,657	18.5%	14,899,430	18.9%	14,105,997	19.5%
Operating income (loss)	7,469,120	9%	7,305,141	8.7%	7,777,941	9.8%	8,780,435	11.1%	7,501,224	10.3%
Non-operating expenses and losses	1,070,257	1.3%	1,139,978	1.4%	509,268	0.6%	1,300,537	1.7%	1,313,023	1.8%
Income from continuing operations before income tax	8,539,377	10.3%	8,445,119	10.1%	8,287,209	10.4%	10,080,972	12.8%	8,814,247	12.2%
Net income (loss)	6,830,790	8.3%	6,794,641	8.1%	6,597,820	8.3%	8,063,477	10.2%	7,043,295	9.7%
Diluted earnings per share (NT$)	2.3		2.4		2.4		2.9		2.5