Catcher Technology (2474) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue rose 18.1% year-over-year to NT$5,117bn, driven by improved shipments and a low base effect.

• Gross margin improved to 34.5%, up 10.7pp year-over-year, reflecting scale and product mix optimization.

• Net profit after tax dropped 68.1% year-over-year due to significant FX losses, with Q3 2024 net profit at NT$1,430.1 million.

• EBITDA increased to NT$1.624bn, up 75.9% year-over-year.

• The company completed the delisting of its Global Depositary Receipts from the Luxembourg Stock Exchange in June 2024.

Financial highlights

• Q3 2024 revenue: NT$5.117bn; gross profit: NT$1.767bn; operating profit: NT$1.198bn.

• Q3 2024 basic EPS: NT$2.10 vs. NT$6.59 in Q3 2023; nine-month net profit: NT$9.441bn, down 4.2% year-over-year.

• 9M 2024 revenue: NT$13.448bn, down 8.9% year-over-year; gross margin: 32.5%, up 4.6pp.

• Cash and cash equivalents at September 30, 2024 were NT$36.8bn, down from NT$69.7bn a year earlier.

• Significant FX losses of NT$1.763bn in Q3 2024; FX gains of NT$2.122bn in 9M 2024.

Outlook and guidance

• Narrowing year-over-year revenue decline in 9M 2024 suggests recovering demand.

• The company remains focused on sustainable operations and long-term development, with a dividend policy emphasizing stability and growth.