ASRock Industrial Computer (3515) Q4 2023 earnings summary

Executive summary

• FY2023 revenue rose 11% to NTD 18,991,845 thousand; net profit fell to NTD 977,554 thousand from NTD 1,226,800 thousand. Basic EPS was NTD 7.54 versus NTD 8.69.

• Net cash from operating activities increased to NTD 2,636,297 thousand from NTD 1,140,829 thousand; year-end cash and cash equivalents were NTD 3,046,270 thousand.

Financial highlights

• Gross profit rose to NTD 3,829,518 thousand from NTD 3,700,557 thousand; COGS increased 13% to NT$15,162m and operating expenses rose 7% to NT$2,682m.

• Total assets were NT$14,375m at Dec. 31, 2023, versus NT$14,768m a year earlier; inventory declined to NTD 6,376,125 thousand from NTD 8,010,393 thousand.

• Net profit attributable to owners was NTD 919,041 thousand, versus NTD 1,066,244 thousand; total comprehensive income was NTD 974,387 thousand versus NTD 1,654,040 thousand.

Segment performance

• Operations are managed as one operating segment; FY23 external revenue by customer location was America NTD 7,109,648 thousand, Asia NTD 6,067,689 thousand, Europe NTD 5,655,892 thousand, and other markets NTD 158,616 thousand.