Chunbo (A27828) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was KRW 144.9 billion, down 21% year-over-year, with an operating loss of KRW 22.8 billion, a deterioration of KRW 14.7 billion from the previous year.

• Net loss for 2024 was KRW 32.3 billion, an improvement from the previous year's net loss of KRW 45.5 billion.

• The company faced significant headwinds from raw material price declines and reduced demand in the secondary battery market.

Financial highlights

• Total assets at year-end 2024 were KRW 1.01 trillion, up from KRW 934 billion in 2023.

• Equity increased to KRW 415 billion from KRW 351 billion, aided by the issuance of hybrid bonds.

• Cash and cash equivalents at year-end were KRW 15.9 billion, down from KRW 60.8 billion in 2023.

• Net debt to capital ratio improved to 57.6% from 59.1% year-over-year.

• ROE for 2024 was -9.76%, compared to -14.22% in 2023.

Outlook and guidance

• Management expects continued global economic risks in 2025, including geopolitical tensions and trade barriers, but anticipates some stabilization in EV demand and material prices.