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Strong Demand for Automotive Fasteners May Pushe QST International’s EPS This Year to NTD6
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2015-08-11
Taiwanese automotive nut manufacturer QST International (of the Boltun Group) reported a significant rise in its sales in H1 2015. Net profit after tax in Q2 was NTD0.15 billion (up 16.27% quarter-on-quarter). Cumulative net profit after tax in the first half of 2015 was NTD0.279 billion (up 96.47% year-on-year). EPS was NTD3.05 (up 74.28% year-on-year), all making QST the top leading stock in the category. It is estimated that the EPS of QST International this year may rise to NTD6, higher than NTD3.65 last year.
QST International said that the significant rise in profit in H1 2015 mainly resulted from the strong demand for automotive fasteners. In addition to the fully utilized production lines of its factories in Taiwan and China as well as the continuous material supply to VW, it has also increased the material supply to BMW and Benz since the beginning of 2015, especially the aluminum alloy fasteners and light weight components with high added value.
QST is not only the largest automotive fastener supplier to VW in Asia, but is also the largest supplier of VW in the world. ESKA Automotive acquired by the Boltun Group last year mainly manufacturing high-end aluminum alloy fasteners and light weight components has increased its supply to BMW and Benz since the beginning of this year, so its capacity has been now fully utilized.
Considering the future, QST said that the order for automotive fasteners from its downstream customers will turn into a more conservative situation, which is influenced by the low demand in the global steel market. The current order backlog of the company is scheduled to this October or November.
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