{"id":11231,"date":"2021-01-14T09:20:00","date_gmt":"2021-01-14T09:20:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2021\/01\/14\/johnson-electric-reports-business-and-unaudited-financial-information-for-the-third-quarter-of-financial-year-2020-21\/"},"modified":"2021-01-14T09:20:00","modified_gmt":"2021-01-14T09:20:00","slug":"johnson-electric-reports-business-and-unaudited-financial-information-for-the-third-quarter-of-financial-year-2020-21","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2021\/01\/14\/johnson-electric-reports-business-and-unaudited-financial-information-for-the-third-quarter-of-financial-year-2020-21\/","title":{"rendered":"Johnson Electric reports Business and Unaudited Financial Information for the Third Quarter of Financial Year 2020\/21"},"content":{"rendered":"

\n<\/p>\n

\n <\/p>\n

HONG KONG SAR – Media OutReach<\/a> – 14 January 2021 –
\nThis news release is made by Johnson Electric Holdings Limited<\/a> (“Johnson
\nElectric” or the “Company” and together with its subsidiaries, the “Group”) for
\nthe business operations and selected unaudited financial information of the
\nGroup for the three months and the nine months ended 31 December 2020.<\/p>\n

\u00a0<\/p>\n

The Board of Directors (the
\n“Board”) of the Company considers the publication of quarterly sales performance
\nupdates to be consistent with international corporate disclosure best practice.
\nThe objective of this news release is to provide transparency and to ensure
\nthat investors and potential investors receive equal access to the same
\ninformation at the same time.<\/p>\n

\u00a0<\/p>\n

The Group’s sales for the
\nquarter ended 31 December 2020 were US$912 million compared to US$773 million
\nfor the same quarter in 2019, an increase of 18%. Excluding currency movements,
\nsales increased by 15% to US$887 million. Foreign exchange rate movements had a
\npositive effect of US$25 million on the Group’s sales for the quarter ended 31
\nDecember 2020. This was mainly due to the impact of the stronger average
\nexchange rates for the Euro and Chinese Renminbi against the US Dollar,
\ncompared to the same quarter in 2019.<\/p>\n

\u00a0<\/p>\n

The recovery in sales
\nexperienced in the second quarter gathered momentum in the third quarter,
\npartially mitigating the deep pandemic-driven decline experienced in the first
\nquarter of the financial year. Overall, the Group recorded sales of US$2,242
\nmillion for the nine months ended 31 December 2020, compared to US$2,338
\nmillion for the same period in 2019, a decrease of 4%. Excluding currency
\nmovements, sales for the nine months ended 31 December 2020 decreased by 5%.<\/p>\n

\u00a0<\/p>\n

Sales of Automotive
\nProducts Group (“APG”)<\/b><\/p>\n

APG’s sales for the quarter
\nended 31 December 2020 increased by US$107 million or 17% compared to the same
\nquarter in 2019.\u00a0 Excluding currency
\neffects, APG’s sales increased by US$84 million or 13% in the quarter.<\/p>\n

\u00a0<\/p>\n

APG’s sales outperformed
\ncompared to automotive industry production volumes, in all regions, in both the
\nnine months and the quarter ended 31 December 2020. Although the COVID-19
\npandemic sharply reduced APG’s sales in April and May 2020, particularly in
\nEurope and the Americas, the Group subsequently experienced a significant
\nrecovery in demand. The sales changes by region, excluding currency effects,
\nwere as follows:<\/p>\n

\u00a0<\/p>\n\n\n\n\n\n\n\n
\n

\u00a0<\/b><\/p>\n<\/td>\n

\n

Quarter ended
31 December 2020<\/p>\n<\/td>\n

\n

Nine months ended
31 December 2020<\/p>\n<\/td>\n<\/tr>\n

\n

Asia<\/p>\n<\/td>\n

\n

increased 16%<\/p>\n<\/td>\n

\n

increased 6%<\/p>\n<\/td>\n<\/tr>\n

\n

Europe<\/p>\n<\/td>\n

\n

increased 7%<\/p>\n<\/td>\n

\n

decreased 20%<\/p>\n<\/td>\n<\/tr>\n

\n

Americas<\/p>\n<\/td>\n

\n

increased 17%<\/p>\n<\/td>\n

\n

decreased 13%<\/p>\n<\/td>\n<\/tr>\n

\n

Total<\/p>\n<\/td>\n

\n

increased 13%<\/p>\n<\/td>\n

\n

decreased 8%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

Johnson Electric’s
\ninnovative technology and product portfolio remains well positioned to meet
\ngrowing demand for the electrification of critical automotive functions to
\nincrease powertrain efficiency, reduce vehicle weight, improve safety,
\nreliability and enhance comfort.<\/p>\n

\u00a0<\/p>\n

Sales of Industry
\nProducts Group (“IPG”)<\/b><\/p>\n

IPG’s sales for the quarter
\nended 31 December 2020 increased by US$32 million or 21% compared to the same
\nquarter in 2019. Excluding currency effects, IPG’s sales increased by US$29
\nmillion or 20% for the quarter. <\/p>\n

\u00a0<\/p>\n

IPG’s business and financial
\nperformance benefited significantly from changes in consumer behaviour and
\nexpenditure in response to the COVID-19 pandemic. As consumers in many
\ncountries were required to spend more time at home, the division experienced
\nstrong demand for products for food and beverage, floor care, home office
\nprinter, lawn and garden, window automation, power tool, sanitation and
\nventilation applications. The medical segment also experienced strong growth,
\ndriven by the long-term imperative to reduce the labour intensity of hospital
\nprocedures. <\/p>\n

\u00a0<\/p>\n

These positive demand
\ndynamics were partly offset by the COVID-19 pandemic’s adverse impact on some
\nspecific customers and market segments. In Europe and the Americas, sales to
\nmany small and medium enterprises decreased as consumers switched to purchasing
\nthrough the online sales channels of larger competitors. Commercial printers,
\nmetering, flexible printed products and switches segments were also slower than
\nusual.<\/p>\n

\u00a0<\/p>\n

On a regional basis, IPG
\nexperienced the highest sales growth in Asia due in large part to the rapid
\nrecovery of China’s industrial sector and strong global demand for the
\ncountry’s manufactured goods. In Europe and the Americas, the path to recovery
\nin some segments has taken somewhat longer and in the US, in particular, IPG’s
\nsales have been hampered by delays from port congestion as well as land and
\nrail logistical bottlenecks. The sales changes by region, excluding currency
\neffects, were as follows:<\/p>\n

\u00a0<\/p>\n\n\n\n\n\n\n\n
\n

\u00a0<\/b><\/p>\n<\/td>\n

\n

Quarter ended
31 December 2020<\/p>\n<\/td>\n

\n

Nine months ended
31 December 2020<\/p>\n<\/td>\n<\/tr>\n

\n

Asia<\/p>\n<\/td>\n

\n

increased 35%<\/p>\n<\/td>\n

\n

increased 18%<\/p>\n<\/td>\n<\/tr>\n

\n

Europe<\/p>\n<\/td>\n

\n

increased 22%<\/p>\n<\/td>\n

\n

increased 6%<\/p>\n<\/td>\n<\/tr>\n

\n

Americas<\/p>\n<\/td>\n

\n

flat<\/p>\n<\/td>\n

\n

decreased 3%<\/p>\n<\/td>\n<\/tr>\n

\n

Total<\/p>\n<\/td>\n

\n

increased 20%<\/p>\n<\/td>\n

\n

increased 8%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

Chairman’s Comments on Sales
\nPerformance and Outlook<\/b><\/p>\n

Concerning the quarter ended
\n31 December 2020 sales performance, the Chairman and Chief Executive, Dr.
\nPatrick Shui-Chung Wang, said, “The strong recovery in demand that we
\nexperienced during the second quarter continued in the third quarter — with
\nsales levels in both APG and IPG running well ahead of the third quarter in the
\nprior year.\u00a0 Although there remains some
\nuncertainty as to how the upsurge in COVID-19 in many Western countries could
\nimpact business activity and consumer confidence, the Group is presently on track
\nto deliver full-year total sales close to the level achieved in the prior
\nfinancial year.\u00a0 This would represent a
\nvery satisfactory achievement given the fact that such a large portion of
\nJohnson Electric’s operations was either shutdown or significantly constrained
\nduring the first two months of the current financial year.”<\/p>\n

\u00a0<\/p>\n

Cautionary
\nStatement<\/b><\/p>\n

Shareholders and potential
\ninvestors in the Company are reminded that the information provided in this news
\nrelease, including information related to the expected outlook for the full
\nyear, is based on the Group’s unaudited internal records and management accounts.
\nThis information has not been reviewed or audited by the Company’s auditors.<\/p>\n

\u00a0<\/b><\/p>\n

Shareholders
\nand potential investors should exercise caution when dealing or investing in
\nthe shares of the Company.<\/b><\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

HONG KONG SAR – Media OutReach – 14 January 2021 – This news release is made by Johnson Electric Holdings Limited (“Johnson Electric” or the “Company” and together with its subsidiaries, the “Group”) for the business operations and selected unaudited financial information of the Group for the three months and the nine months ended 31 …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/11231"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=11231"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/11231\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=11231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=11231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=11231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}