Delta Electronics Inc., a leading power management solution provider in Taiwan, on Monday reported company sales smashed monthly records in September, with analysts attributing the growth to solid demand from electric vehicle suppliers.

In a statement, Delta Electronics said it posted NT$36.93 billion (US$1.17 billion) in consolidated sales in September, up 5 percent from a month earlier and up 35 percent from a year earlier, marking the fourth consecutive month the company has reported record monthly revenue.

In the third quarter, Delta Electronics generated a record quarterly high of NT$106.25 billion in consolidated sales, up 18 percent from a quarter earlier; in the first nine months of this year, the company’s consolidated sales rose 21 percent from a year earlier to NT$278.78 billion.

In September alone, power management solutions and electronic components accounted for 59 percent of Delta Electronics’ total sales with items used in infrastructure work and automation making up 28 percent and 13 percent, respectively, the company said.

Delta Electronics said sales growth momentum is expected to continue into November as demand remains strong.

Sales generated by devices used in EV production are expected to grow 30-40 percent from a year earlier in 2022, while the company’s sales in the second half of this year could surpass the first half, analysts said.

During the January-June period, Delta Electronics posted NT$172.54 billion in consolidated sales, up 14 percent from a year earlier.

Source: Focus Taiwan News Channel