CDW Holding (BXE) H2 2024 earnings summary

Executive summary

• FY2024 revenue fell 21.4% YoY to US$85.8m, mainly on weaker LCD Backlight Units demand; net loss widened to US$5.0m from US$1.4m.ocument-source]11[/document-source]

• Resilience measures included geographic, product and business diversification, cost control, and consolidation of Dongguan operations; cash and bank balances plus pledged deposits remained US$27.1m.ocument-source]7[/document-source]

Financial highlights

• Revenue US$85.8m, down 21.4% YoY; gross profit US$13.6m, down 27.6% from US$18.7m.ocument-source]11[/document-source]

• Loss before tax widened to US$4.8m from US$1.0m; net loss was US$5.0m versus US$1.4m, and loss per share was 1.96 US cents versus 0.48 cents.ocument-source]11[/document-source]

• Group expenses held at US$18.5m; finance costs declined 24.7% to US$0.33m following bank debt repayments.ocument-source]11[/document-source]

• Net cash from operating activities was US$5.3m versus US$10.9m; investing cash outflow was US$0.4m and financing cash outflow US$5.5m.ocument-source]14[/document-source]

• Total assets were US$84.2m and liabilities US$40.7m at 31 Dec 2024, versus US$96.0m and US$42.6m a year earlier.ocument-source]13[/document-source]

Outlook and guidance

• FY2024 challenges are expected to continue into FY2025 amid US tariff uncertainty, trade friction and a slower global outlook.ocument-source]7[/document-source]

• TM Philippines resumed operations and passed a customer factory audit in H2 2024; mass production is expected to commence in 2025.ocument-source]8[/document-source]

• Certain low-margin Office Automation products are scheduled to exit production from mid-2025; pricing and minimum-order discussions continue for retained products.ocument-source]9[/document-source]

• Vietnam production options are under evaluation; Thailand assembly partnership work is ongoing, alongside plans to maintain China as the primary production base.ocument-source]8[/document-source]

• Life Sciences research remains early to mid-stage, with revenue expected to take time; in-vivo research is underway with Neoregen on next-generation LNP technology.ocument-source]9[/document-source]