CO-TECH Development (8358) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2024 was NT$2,002 million, up 10% year-over-year; first half revenue reached NT$3,730 million, up 12% year-over-year.

• Net income for Q2 2024 was NT$167 million, down 43% year-over-year; first half net income was NT$432 million, down 14% year-over-year.

• Gross margin for Q2 was 19%, down from 23% in Q2 2023; first half gross margin was 20%, up slightly from 22% in the prior year.

• The company maintained a strong equity position with NT$6,555 million in total equity as of June 30, 2024.

Financial highlights

• Operating income for Q2 2024 was NT$317 million, down 13% year-over-year; first half operating income was NT$623 million, flat year-over-year.

• Basic EPS for Q2 2024 was NT$0.66, compared to NT$1.15 in Q2 2023; first half EPS was NT$1.71, compared to NT$2.00 in the prior year.

• Cash and cash equivalents at June 30, 2024 were NT$1,066 million, down from NT$2,023 million a year earlier.

• Total assets at June 30, 2024 were NT$8,467 million, down 4% from NT$8,817 million at June 30, 2023.

• Short-term borrowings decreased to NT$624 million from NT$1,480 million year-over-year.

Outlook and guidance

• The company continues to monitor IFRS and regulatory changes, with no material impact expected from new standards.

• Management is evaluating the impact of upcoming IFRS 9, IFRS 7, and IFRS 18 changes, with disclosures to follow upon completion.