Elite Material Co (2383) Q4 2024 earnings summary

Executive summary

• 2024 revenue reached NT$64.4 billion, up 56% year-over-year, with net income of NT$9.6 billion, a 75% increase from 2023.

• EPS rose to NT$27.8, and all major profit metrics hit record highs.

• Major growth was driven by the foreign segment, especially China, and new plant investments in Malaysia and China.

• Acquired control of TECHNICA USA, expanding the global footprint.

Financial highlights

• 4Q24 net consolidated revenue was NT$18.6 billion, up 6.3% sequentially and 44.1% year-over-year.

• 4Q24 gross margin was 28.5%, operating margin 19.0%, and net margin 14.2%.

• 2024 gross margin was 28%, operating margin 18.9%, net margin 14.9%.

• 2024 net income was NT$9.6 billion, EPS NT$27.8, both up significantly year-over-year.

• Cash and cash equivalents at year-end 2024 were NT$14.99 billion.

Key financial ratios and metrics

• ROE was 27.3% in 2024, up from 20.5% in 2023.

• Current ratio was 1.7x and debt-to-equity ratio 1.17x at year-end 2024.

• Short-term debt decreased, long-term debt increased to NT$8.8 billion.

• Payout ratio remains stable, with cash dividends of NT$10.00 per share in 2024.

• Unused credit lines totaled NT$25.89 billion at year-end.