China Steel (2002) Q2 2024 earnings summary

Executive summary

• Consolidated financial statements for the six months ended June 30, 2024, were reviewed by independent auditors, who concluded the statements present fairly the financial position and performance in accordance with relevant regulations and standards.

• The Ministry of Economic Affairs, R.O.C. held a 20% stake as of June 30, 2024.

Financial highlights

• Operating revenue for the six months ended June 30, 2024, was NT$188.33 billion, up 0.9% year-over-year.

• Net profit for the six months ended June 30, 2024, was NT$2.77 billion, up from NT$1.38 billion year-over-year.

• Basic and diluted EPS for the six months ended June 30, 2024, were both NT$0.13, compared to NT$0.02 for the same period last year.

• Total assets as of June 30, 2024, were NT$693.06 billion; total equity was NT$343.12 billion.

• Cash and cash equivalents at period end were NT$20.86 billion.

Outlook and guidance

• The company continues to assess the impact of new and upcoming IFRS standards, including IFRS 18 and 19, and will disclose impacts when assessments are complete.