Auras Technology Co. (3324) Q4 2023 earnings summary

Executive summary

• FY23 revenue was NT$12,712,629 thousand, down from NT$13,856,991 thousand in FY22; operating profit rose to NT$1,376,298 thousand from NT$1,173,299 thousand.

• The consolidated financial statements received an unqualified audit opinion; revenue cut-off and inventory valuation were key audit matters.

Financial highlights

• Net operating margin was 24% of revenue in FY23 vs 20% in FY22; operating expenses were NT$1,628,625 thousand vs NT$1,548,933 thousand.

• Profit before tax was NT$1,567,792 thousand vs NT$1,628,052 thousand; net income was NT$1,239,244 thousand vs NT$1,286,665 thousand.

• Net cash from operating activities rose to NT$1,970,965 thousand from NT$1,240,167 thousand; cash and cash equivalents ended FY23 at NT$1,365,804 thousand.

Outlook and guidance

• On March 6, 2024, the board proposed a FY23 cash dividend of NT$6.5 per share, totaling NT$571,229 thousand.

• A NT$100,320 thousand investment prepayment for Zhong Yang Technology was made in December 2023; the capital increase was completed in January 2024.