URE, TSEC, Motech report 3Q20 profits
Adam Hwang, DIGITIMES, Taipei

Solar cell and module makers United Renewable Energy (URE), TSEC and Motech Industries have alll reported profits for third-quarter 2020.

Despite operating loss NT$86.7 million (US$3.0 million) for the quarter, URE managed to post net profit of NT$142.3 million for the period, thanks to NT$329 million in gains from selling asset.

TSEC and Motech reported net profit of NT$131 million and NT$103 million respectively for third-quarter 2020.

URE posted consolidated revenues of NT$1.026 billion for October, decreasing 13.24% sequentially and 9.37%.

TSEC's October consolidated revenues reached NT$364.5 million, slipping 16.63% sequentially but growing 12.85% on year.

Motech's October consolidated sales reached NT$283.7 million, down 9.88% sequentially and 29.62% on year.

URE, TSEC and Motech: Financial results, 3Q20 (NT$m)

URE

TSEC

Motech

3Q20

Jan-Sep 2020

3Q20

Jan-Sep 2020

3Q20

Jan-Sep 2020

Consolidated revenues

3,515

9,795

1,350

3,580

1,040

2,806

Gross margin

6.99%

(1.97%)

16.37%

10.28%

18.19%

13.05%

Operating profit

(86.7)

(1,418)

130.4

(240.3)

90.6

57.5

Net profit

142.3

(1,198)

131.0

(274.0)

103.3

189.5

Source: Companies, compiled by Digitimes, November 2020