China Steel (2002) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024 was NT$273.94 billion, nearly flat year-over-year from NT$274.93 billion.

• Net profit for the period was NT$2.98 billion, up from NT$0.87 billion in the prior year period.

• Total assets as of September 30, 2024 were NT$697.84 billion, with total equity of NT$342.96 billion.

Financial highlights

• Gross profit for the nine months was NT$10.76 billion, similar to NT$10.89 billion year-over-year.

• Operating income was NT$0.85 billion, compared to NT$0.92 billion in the prior year.

• Basic and diluted EPS for the nine months were NT$0.12, compared to NT$0.03 loss per share last year.

• Net cash generated from operating activities was NT$27.71 billion, up from NT$26.02 billion year-over-year.

• Net cash used in investing activities was NT$28.37 billion; net cash from financing activities was NT$0.57 billion.

Outlook and guidance

• The company expects to be subject to carbon fees under new environmental regulations, which may impact future costs.

• Management continues to monitor the impact of new and upcoming IFRS standards on financial reporting.