Auras Technology Co. (3324) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2024, was NT$7,434 million, up 26.6% year-over-year, with net income attributable to owners at NT$1,028 million, a 99% increase from the prior year.

• Gross margin improved to 27% for the six-month period, compared to 22% in the same period last year.

• The company operates primarily in the thermal module segment, with all business lines aggregated into a single reportable segment due to similar margins and cost structures.

Financial highlights

• Operating profit for the six months ended June 30, 2024, was NT$971 million, up from NT$514 million year-over-year.

• Basic EPS for the six months was NT$11.64, compared to NT$6.00 in the prior year; diluted EPS was NT$11.37 versus NT$5.77.

• Cash and cash equivalents increased to NT$1,607 million as of June 30, 2024, from NT$1,344 million a year earlier.

• Total assets reached NT$14,820 million, up from NT$11,275 million at June 30, 2023.

• Net cash from operating activities was NT$311 million for the six months, down from NT$617 million in the prior year.

Outlook and guidance

• The Board approved the issuance of NT$1.5 billion in new convertible bonds in July 2024 to support future growth.

• No specific forward-looking revenue or profit guidance was provided.