CDW Holding's FY2021 net profit rose to US$2.4 million

KUALA LUMPUR, March 4 -- SGX Mainboard listed CDW Holding Limited (CDW, the Company, and together with its subsidiaries, the Group), has released its financial results for the 12 months ended Dec 31, 2021 (FY2021).

For FY2021, the Group achieved a revenue of US$143.2 million, representing a 28.1 per cent increase from the US$111.8 million in revenue attained for the financial year ended Dec 31, 2020 (FY2020). (US$1 = RM4.190)

According to a statement, the Group’s FY2021 profit after income tax rose 59.4 per cent to reach US$2.4 million from US$1.5 million in FY2020, with the second half of FY2021 recovering from a loss of US$1.1 million in the first half of FY2021.

For the year under review, revenue from the Group’s LCD Backlight Units segment continued to be strong despite the twin impacts of the COVID-19 pandemic and the global shortage of semiconductors.

The strong growth was underpinned by the strong demand in orders, particularly by automakers for the larger-sized automotive digital instrument panels used in premium cars as well as high-end personal computers.

Total sales volume for the LCD BLU segment in FY2021 grew 11.1 per cent, supported by the trend of continuous robust growth of automotive LCD Backlight Units over 10 inches.

The sales volume for large-sized automotive digital instrument panels alone rose 94.3 per cent from FY2020, and the larger automotive backlight units are shaping up to be the key growth driver for this segment.

During FY2021, the Group sold a total of 8.4 million LCD Backlight units, compared to 7.6 million units in FY2020. Amongst these include backlight units for handsets, automotive digital instrument panels, personal notebook computers, and smart phones.

Meanwhile, the Group’s LCD Parts and Accessories segment took a turn for the better in the second half of FY2021, with the global shortage on semiconductors alleviating somewhat, and customer orders having started to stabilise.

The Group has been actively working with customers to build greater rapport and working relationships, and pushing for higher-end and higher margin models and products for its various businesses in tandem with market trends in order to augment its profitability and margins.

More details at www.cdw-holding.com.hk

-- BERNAMA