CO-TECH Development (8358) Q4 2024 earnings summary

Executive summary

• Consolidated financial statements received an unmodified audit opinion, confirming fair presentation in accordance with IFRS and local regulations for 2024 and 2023.

• Revenue primarily derives from copper foil production and sales, with performance influenced by industry demand and copper price fluctuations.

• Revenue recognition was identified as a key audit matter due to its significant impact and associated risks.

Financial highlights

• Operating revenue increased to NT$6,821,558 thousand in 2024, up from NT$6,169,504 thousand in 2023.

• Net profit for 2024 was NT$921,809 thousand, a significant rise from NT$532,906 thousand in 2023.

• Gross profit margin improved to 20% in 2024 from 14% in 2023.

• Basic earnings per share rose to NT$3.65 in 2024 from NT$2.11 in 2023.

• Cash and cash equivalents at year-end 2024 were NT$1,990,235 thousand, up from NT$1,553,707 thousand.

Outlook and guidance

• The Group expects to be subject to carbon fees starting January 1, 2025, with payments due in May 2026, based on 2022 emissions.

• Ongoing assessment of new and amended IFRS standards, including IFRS 18 and 19, with future disclosures planned upon completion.