ELAN Microelectronics (2458) Q4 2024 earnings summary

Executive summary

• 2024 consolidated sales reached NT$12,696M, up 5.3% year-over-year, with net profit at NT$2,593M to NT$2,736M, a 27.6%–30.6% increase from 2023.

• 4Q24 sales were NT$3,036M, down 2.4% year-over-year and 10.8% sequentially; net profit for 4Q24 was NT$555M.

• EPS for 2024 was NT$9.57, up from NT$7.53 in 2023; 4Q24 EPS was NT$2.10.

• Major revenue drivers were the Laptop Input Device and Consumer Touch Control segments, with significant contributions from key customers.

• No major disasters or subsequent events reported; ongoing patent litigation with FocalTech remains unresolved.

Financial highlights

• Gross margin for 2024 improved to 48.9% from 45.0%–45.1% in 2023; 4Q24 gross margin was 49.6%.

• Operating profit for 2024 rose 26% year-over-year to NT$3,066M; 4Q24 operating profit was NT$722M.

• Cash and cash equivalents at year-end 2024 totaled NT$3,273M.

• Net cash from operating activities was NT$3,310M, down from NT$4,208M in 2023.

• Total assets reached NT$15,017M, with equity attributable to owners at NT$9,773M.

Outlook and guidance

• 1Q25 consolidated revenue expected between NT$3.0B and NT$3.2B.

• Gross margin guidance for 1Q25 is 48% to 51%; operating margin expected between 21.9% and 26.5%.

• Management expects continued growth in core business segments, supported by ongoing R&D and new product launches.

• Forward-looking statements are subject to significant risks and uncertainties.

• Adoption of new IFRS standards in 2025 and beyond is not expected to have a significant impact.