Cheng Shin Rubber (2105) Q4 2024 earnings summary

Executive summary

• Consolidated financial statements for the years ended December 31, 2024 and 2023 were audited and present fairly in all material respects in accordance with IFRS and local regulations.

• The Group is primarily engaged in the manufacturing and sales of tires and rubber products, with a global presence and diversified subsidiaries.

Financial highlights

• Sales revenue for 2024 was NT$96,247,057 thousand, nearly flat year-over-year (2023: NT$96,201,313 thousand).

• Net profit attributable to owners was NT$8,017,116 thousand, up from NT$7,182,382 thousand in 2023.

• Basic and diluted EPS for 2024 were NT$2.47, compared to NT$2.22 and NT$2.21 in 2023.

• Operating profit was NT$10,011,804 thousand, slightly down from NT$10,357,806 thousand in 2023.

• Total assets at year-end 2024 were NT$146,254,463 thousand, with total equity of NT$90,376,345 thousand.

Outlook and guidance

• The Group continues to expand production capacity and invest in new equipment to maintain competitiveness.

• No significant impact is expected from new or upcoming IFRS standards.

• The Group is assessing the impact of Pillar Two global minimum tax rules, with no material effect recognized for 2024.