Cheng Shin Rubber (2105) Q3 2024 earnings summary

Executive summary

• Consolidated revenue for the nine months ended September 30, 2024 was NT$73,472,679 thousand, nearly flat compared to NT$73,484,580 thousand in the same period last year.

• Net profit for the nine-month period rose to NT$6,904,541 thousand, up from NT$5,646,080 thousand year-over-year.

• Basic and diluted EPS for the nine months were NT$2.13, compared to NT$1.74 in the prior year.

Financial highlights

• Gross margin for the nine months improved to 25% from 24% year-over-year.

• Operating profit for the nine months was NT$8,493,339 thousand, up from NT$7,608,418 thousand year-over-year.

• Total assets as of September 30, 2024 were NT$145,783,779 thousand, with total equity at NT$89,919,499 thousand.

• Cash and cash equivalents at period end were NT$24,494,939 thousand.

Outlook and guidance

• The Board approved a capital increase for Maxxis Rubber India Private Limited post-period, with a planned cash injection of INR 3,360,000 thousand to support loan repayment and working capital.