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Jumat, 15 Januari 2021 23:42:00

Johnson Electric reports Business and Unaudited Financial Information for the Third Quarter of Financial Year 2020/21

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 December 2020.
 
The Board of Directors (the "Board") of the Company considers the publication of quarterly sales performance updates to be consistent with international corporate disclosure best practice. The objective of this news release is to provide transparency and to ensure that investors and potential investors receive equal access to the same information at the same time.
 
The Group's sales for the quarter ended 31 December 2020 were US$912 million compared to US$773 million for the same quarter in 2019, an increase of 18%. Excluding currency movements, sales increased by 15% to US$887 million. Foreign exchange rate movements had a positive effect of US$25 million on the Group's sales for the quarter ended 31 December 2020. This was mainly due to the impact of the stronger average exchange rates for the Euro and Chinese Renminbi against the US Dollar, compared to the same quarter in 2019.
 
The recovery in sales experienced in the second quarter gathered momentum in the third quarter, partially mitigating the deep pandemic-driven decline experienced in the first quarter of the financial year. Overall, the Group recorded sales of US$2,242 million for the nine months ended 31 December 2020, compared to US$2,338 million for the same period in 2019, a decrease of 4%. Excluding currency movements, sales for the nine months ended 31 December 2020 decreased by 5%.
 
Sales of Automotive Products Group ("APG")
APG's sales for the quarter ended 31 December 2020 increased by US$107 million or 17% compared to the same quarter in 2019.  Excluding currency effects, APG's sales increased by US$84 million or 13% in the quarter.
 
APG's sales outperformed compared to automotive industry production volumes, in all regions, in both the nine months and the quarter ended 31 December 2020. Although the COVID-19 pandemic sharply reduced APG's sales in April and May 2020, particularly in Europe and the Americas, the Group subsequently experienced a significant recovery in demand. The sales changes by region, excluding currency effects, were as follows:  (*).