Synnex(2347TW) Jan’20 revenue fell 30% due to reduced working days
2020.2.13

  Synnex preliminary consolidated financial results were as follows:

  Because of the Chinese New Year is celebrated in January this year, the number of working days in January is nearly 30% less than the same period last year. Additionally, the shortage of Intel CPU is still continuing. These factors lead to Synnex’s consolidated revenue in Jan’20 was NT$22.2bn, with a decrease of 30% YoY. Remove the interference of Forex rate change, the revenue was decrease by 27% YoY. However, if comparing with other months that Chinese New Year took place, Synnex’s monthly revenue in Jan’20 is still growing.

 

  By products breakdown were as follows:

(1). IT revenue in Jan’20 was NT$14.2bn, with a decrease of 25% YoY and shared 64% of total consolidated revenue.

 

(2). Telecom revenue in Jan’20 was NT$1.4bn, with a decrease of 34% YoY and shared 6% of total consolidated revenue.

 

(3). Consumer Electronics revenue in Jan’20 was NT$2.2bn, with slightly increase of 2% YoY and shared 10% of total consolidated revenue.

 

(4). Most manufacturers have already prepared their material in December last year because of earlier Chinese New Year. Therefore, the IC components revenue in Jan’20 was NT$4.4bn, with decrease of 48% YoY from NT$8.4bn in the prior year and shared 20% of total consolidated revenue.

 

  Regarding to the Coronavirus impact, due to the resumption of work, produciton, transportation and delivery are still chaotic after the Chinese New Year, the impact in supply chain is still unclear. However, enterprises only postpone their schedule of IT investment for the time being, and the inelastic demand for the end customer is still exists. Therefore, after the ease of epidemic, these deferred demand will gradually be realeased; coupled with the need to replenish inventory at manufacturers and end-channels, it is expected that the overall buying momentum will be greatly improved by then.

 

 

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