Taiwanese company Walsin Lihwa reports revenue decline in September

Taiwanese stainless steel wire rod and cable manufacturer Walsin Lihwa reported consolidated revenue of approximately NTD 14.5 billion (approximately USD 451 million) for September, marking a 2.4% increase compared to August but a 13.5% decline from the same period last year.

For the third quarter of 2024, Walsin Lihwa's total revenue reached NTD 43.7 billion (approximately USD 1.36 billion), reflecting a 5.74% y-o-y decrease. Over the first nine months of the year, the company's cumulative revenue was around NTD 132.6 billion (approximately USD 4.12 billion), down by 9.5% compared to the same period in 2023.

The company attributed the drop in August's stainless steel business revenue to a two-week production halt caused by flooding in late July, following Typhoon Kemi. Production resumed in September, which explains the m-o-m increase in revenue, despite the y-o-y decline.