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ELTA Delivers Excellent Results – 2022 EPS 2.81, Growth of 37.75% – Sports Broadcast Momentum, Cash Dividend 2.2, 20-Year High
June 7, 2023
ELTA Technology (8487) held its 2023 Annual General Shareholders’ Meeting today (June 7), approving the 2022 financial statements and profit distribution plan. In 2022, ELTA reported operating revenue of NT$981,131 thousand, an increase of NT$47,138 thousand or 5.05% compared to NT$933,993 thousand in 2021. Net income after tax reached NT$61,140 thousand, up by NT$17,710 thousand from NT$43,430 thousand in 2021. Basic earnings per share were NT$2.81, a 37.75% increase compared to the adjusted NT$2.04 in 2021. The Board of Directors also approved a cash dividend of NT$2.2 per share, representing a dividend yield of 6.29%.
Reviewing the 2022 performance, ELTA achieved its highest-ever records since its founding 20 years ago—in operating revenue, net income, earnings per share, and cash dividends. Notably, the return on equity (ROE) reached an impressive 20.39%.
Strong Results in First Half of 2023
WBC Classic Boosts Revenue Up 62.11% YoY
In the first two quarters of 2023, boosted by the World Baseball Classic (WBC) in March, ELTA achieved its highest ratings since 2021. Monthly revenue hit NT$153 million, with total revenue from January to May reaching NT$415 million—a 62.11% increase compared to NT$256 million during the same period last year. This growth was driven mainly by higher revenue sharing from ratings and stable OTT subscription growth, showcasing strong profit momentum across ELTA’s two core businesses.
Exciting Sports Lineup in Second Half
Hangzhou Asian Games Expected to Drive New Highs
As Taiwan’s leading sports broadcaster, ELTA continues to deliver a packed second-half lineup. The Chengdu Universiade (starting July 28) and Hangzhou Asian Games (starting September 23) promise strong performances from Taiwanese athletes with no time zone difference. ELTA will once again provide Taiwan’s “most comprehensive and authoritative” broadcast coverage. Regular events such as four daily MLB live games, along with exclusive rights to BWF Badminton, WTT Table Tennis, Premier League, and UEFA Champions League matches, combine both depth and breadth. These programs are expected to further boost ratings and subscription growth, driving an optimistic outlook for ELTA’s 2023 performance.
NCC Approves 5 New Channel Licenses
Digital Content Expansion to Drive Future Growth
The National Communications Commission (NCC) recently approved ELTA’s applications for five new channels, including three temporary “ELTA Asian Games 1–3” channels during the September Games, the 4K-focused “INULTRA Sports & Leisure Channel,” and “ELTA Sports 4,” which highlights grassroots sports in Taiwan. With these additions, ELTA’s family of channels will expand to 15 across genres including sports, drama, variety, music, lifestyle, and pets. This diversified content strategy will allow ELTA to serve audiences even better and is expected to fuel another wave of growth when its new digital content channels launch in late September.