Arcadyan Technology (3596) Q3 2024 earnings summary

Executive summary

• Net revenue for 3Q24 was NTD 12,167 million, flat sequentially but down 12% year-over-year.

• Operating profit rose 24% sequentially and 2% year-over-year to NTD 844 million in 3Q24.

• Net income for 3Q24 was NTD 655 million, up 12% sequentially but down 2% year-over-year.

• EPS for 3Q24 was NTD 2.98, compared to NTD 2.66 in 2Q24 and NTD 3.12 in 3Q23.

• Consolidated financial statements for the nine months ended September 30, 2024 and 2023 received a qualified audit opinion due to certain non-significant subsidiaries not reviewed by independent auditors.

Financial highlights

• Net revenue for 1Q-3Q24 was NTD 36,880 million, nearly flat year-over-year.

• Net income for 1Q-3Q24 was NTD 1,858 million, up 7% year-over-year.

• EPS for 1Q-3Q24 was NTD 8.47, compared to NTD 7.98 in the prior year.

• Gross profit for 1Q-3Q24 increased to NTD 5,559 million (15.1% margin) from NTD 5,293 million (14.3% margin) in the prior year.

• Cash and cash equivalents increased to NTD 10,620 million as of September 30, 2024.

Key financial ratios and metrics

• Gross margin for 3Q24 was 15.4%, up from 15.0% in 2Q24.

• Operating margin for 3Q24 was 6.9%, up from 5.6% in 2Q24.

• Book value per share as of September 30, 2024 was NTD 69.04, up from NTD 66.33 as of June 30, 2024.

• Current ratio as of September 30, 2024: Current assets NTD 32,562,661 thousand vs. current liabilities NTD 15,212,681 thousand.

• Debt-to-equity ratio as of September 30, 2024: Total liabilities NTD 24,467,578 thousand, total equity NTD 15,303,039 thousand.