Drewloong Precision (4572) Q4 2024 earnings summary

Executive summary

• Revenue increased to NT$871,452 thousand in 2024, up 4.7% year-over-year, with net income rising to NT$284,244 thousand, a 17.4% increase from 2023.

• Gross margin improved to 49% from 48% year-over-year, and operating profit margin rose to 36% from 35%.

• Major investments included a new factory construction in Kaohsiung, with NT$236,063 thousand paid as of year-end.

• Issued NT$500 million in convertible bonds, boosting non-current liabilities and capital surplus.

Financial highlights

• Total assets grew 31% to NT$3,107,675 thousand, and equity increased to NT$2,089,196 thousand.

• Cash and cash equivalents rose to NT$632,008 thousand, up from NT$429,595 thousand year-over-year.

• Operating cash flow was NT$216,373 thousand, down from NT$286,856 thousand in 2023.

• Basic EPS was NT$7.29, up from NT$6.21 in 2023.

• Debt ratio increased to 33% from 20% year-over-year.

Outlook and guidance

• Board proposed NT$195,000 thousand in cash dividends for 2024, maintaining a payout policy of at least 10% of distributable earnings.

• Ongoing capital expenditure for new production capacity is expected to support future growth.