Avary Holding (002938) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached ¥10.36 billion, up 16.14% year-over-year; net profit attributable to shareholders was ¥1.19 billion, up 15.26% year-over-year.

• Year-to-date revenue totaled ¥23.49 billion, up 14.82% year-over-year; net profit attributable to shareholders was ¥1.97 billion, up 7.05% year-over-year.

• Non-recurring gains contributed ¥45.32 million year-to-date, mainly from government subsidies and asset disposals.

Financial highlights

• Gross margin improved as revenue growth outpaced cost increases; operating profit for the period was ¥2.12 billion.

• Basic and diluted EPS for Q3 were ¥0.52, up 15.56% year-over-year; year-to-date EPS was ¥0.86, up 7.5%.

• Net cash from operating activities was ¥2.92 billion, down 41.56% year-over-year.

• Total assets at quarter-end were ¥43.91 billion, up 3.87% from year-end; equity attributable to shareholders was ¥30.42 billion, up 2.59%.

Key financial ratios and metrics

• Weighted average ROE for Q3 was 3.92%; year-to-date ROE was 6.53%.

• Inventory increased 62.38% year-to-date, mainly due to higher stocking for customer demand.

• Accounts receivable rose 12.5% from year-end, reflecting business expansion.