TAIPEI, March 30, 2017 /PRNewswire/ -- SEYI reports Net Sales of TWD 4.2 billion (US$ 135 million); Net Profit of TWD 167 million (US$ 5.4 million), and Earnings Per Share of TWD 1.06 for the year ended December 31, 2016.
Taipei, Taiwan. SEYI (SHIEH YIH MACHINERY INDUSTRY CO., LTD) (4533 TT), one of the world's leading producers of mechanical presses, announced audited financial results for its most recent fiscal year today.
For the year ended December 31, 2016, the Company reported that Net Sales was TWD 4.2 billion (US$ 135 million), a 21% increase in sales to TWD 3.5 billion (US$ 111 million) in the prior year.
Gross Profit was TWD 12.1 billion (US $39 million) in 2016, compared to TWD 8.9 billion (US$ 29 million) in the prior year. With a continued favorable product mix, plus the North American market grew significantly in 2016. SEYI's Gross Profit Margin increased from 26% to 29%.
Basic Earnings Per Share (EPS) were TWD 1.06 in 2016 and TWD 0.57 per share in 2015.
SEYI's liquidity position remained strong in 2016. Cash on hand was TWD 1.1 billion (US$ 36.7 million) at year end, compared to Total Debt (Short and Long Term) of TWD 1.0 billion (US$ 35.3 million). The Debt ratio was 56% in 2016. The current ratio was 154%.
In the recent years, the aerospace and automotive are the two major manufacturing sections among the rapid growing metal-forming industries. After successfully installing a 400 ton straight side servo press and an 800 ton straight side eccentric gear servo press in Daimler Group in 2016, SEYI continues to earn the project of an 800 ton straight side servo press from Tesla Motors in USA in 2017. Those achievements demonstrate that SEYI's Servo Press is indeed meet the high-end international production standards identified.
Chairman and CEO Ms. Claire Kuo further illustrates that SEYI's three big strategies are to accelerate the promotion of Servo press product line which is both environment-friendly and intelligent manufacturing, upgrading the bigger tonnage line, to fully integrate the automation production and to actively develop the "intelligent press production management system. Those strategies are to provide customer more effective metal forming intelligent manufacturing solution and will assist SEYI be the global three big servo press brand in 2020.
Shieh Yih Machinery Industry Co., Ltd is a leading manufacturer of medium-large servo presses. Main customers are manufacturers in various industries, including automotive, aerospace, medical instrument, agriculture machine, 3C electronics, construction material, hardware and metal component. We help our customers to gain better position in the market by providing creative and edging technology. Our sales and service network is well arranged around the whole world which allows us to supply our high-end press technology to worldwide customers with best delivery and service.
Servo technology, automation system and intelligent manufacture are the cores of our company strategies and we will keep focusing on their development. Besides promoting our servo press which is highly accurate, highly productive and eco-friendly, we also invest valuable resources on developing large sized presses and automation system integration. We are confronting the challenges of Intelligent Machine (Industry 4.0) and Intelligent Factory, focusing on integration of communication, control and IoT (Internet of Things) to create a brand-new intelligent manufacture and service mode.
SEYI's servo presses have been supplied to many customers in different markets, including a well-known German high-end vehicle manufacturer and the famous America electrical car maker. We are eager to build up the win-win partnerships within multi-parties and clients by providing the intelligent manufacturing solution to fulfill customer's needs.
SEYI was established in year 1962, and finished Initial public offering in Taiwan Stock Market in year 2002 (4533 TT)。
Note: TWD 31 to US$ 1.00
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SOURCE SEYI (SHIEH YIH MACHINERY)