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Rechi Step up Heat-Pump Water Heater Business in 2015

Dec 01, 2014 | By Steve Chuang

After developing heat-pump water heaters for residential and commercial use, Rechi Precision Co., Ltd., supplier of compressors for air conditioners based in Taiwan, will step up building the business by exploring domestic and overseas markets, including Japan, Australia and Europe, starting next year.

To meet growing trends for energy efficiency and eco-protection, Rechi has tapped its ample compressor technology to independently develop and build a line of heat pumps for water heaters as well as heat- pump water heaters, which are around 50% more energy-efficient than gas and electric models.

The new business theoretically has much growth potential. Rechi indicates that  developed countries as Japan and Australia require residents to use heat-pump water heaters in multi-heater applications as part of  national policies to save energy, hence creating opportunities for  suppliers in the short term.

Meanwhile, Rechi says market prospects in Taiwan are also promising, with about 800,000 water heaters in demand annually, but only 1% of which being heat- pump models (gas, electric and solar models command 60%, 20% and 5%, respectively). The Taiwanese market certainly has realizable potential if governmental subsidies would be offered, which could be motivated by increasing global eco-awareness. With a complete lineup of residential and commercial models, Rechi is optimistic about becoming the second-largest supplier on the island soon.

Rechi predicts its heat-pump water heaters to generate annual revenue exceeding NT$100 million (US$3.33 million) by 2016 and NT$160 million (US$5.33 million) by 2017 to be the third growth engine following compressors and brushless DC motors.

Mainly driven by strong compressor shipments, the company finished the first nine months of 2014 with consolidated revenue of NT$14.335 billion (US$477.83 million) and net profits of NT$995 million (US$33.16 million), up 47.62% year-on-year. Institutional investors generally believe the firm's 2014 revenue and compressor shipments to reach NT$17 billion (US$566.67 million) and 13 million units, both new highs. (SC)


Rechi's 2014 Performance by Quarter

Q1
Q2
Q3
Revenue
NT$5.114 Bn.
NT$4.947 Bn.
NT$4.322 Bn.
Net Profits
NT$266.08 M.
NT$301.97 M.
NT$320.26 M.
Source: Market Observation Post System


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