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URE reports 3Q21 loss, Motech profitable

Adam Hwang, DIGITIMES, Taipei 0

Solar cell and module makers United Renewable Energy (URE) and Motech Industries have released financial reports for third-quarter 2021, with the former suffering operating loss of NT$62.0 million (US$2.2 million) and the latter recording operating profit of NT$81.4 million.

URE's consolidated revenues of NT$1.213 billion for October slipped 1.83% sequentially but grew 18.16% year-on-year, and those of NT$11.391 billion for January-October rose 5.27% on year.

Motech's consolidated revenues of NT$526.2 million for October dipped 19.80% sequentially but hiked 85.46% year-on-year, and those of NT$4.836 billion for January-October increased 56.48% year-on-year.

Fellow maker TSEC has reported consolidated revenues of NT$579.3 million for October, growing 21.71% sequentially and 58.90% year-on-year, and those of NT$4.495 billion for January-October increased 13.53% year-on-year.

URE and Motech: Financial results, 3Q21 (NT$m)

URE

Motech

3Q21

Jan-Sep 2021

3Q21

Jan-Sep 2021

Consolidated revenues

3,504

10,178

1,573

4,310

Gross margin

6.13%

4.30%

11.72%

8.75%

Operating profit

(62.0)

(648.2)

81.4

94.1

Net profit

(90.7)

(848.3)

89.3

104.4

Net EPS (NT$)

(0.06)

(0.56)

0.25

0.29

Source: Companies, compiled by Digitimes, November 2021