Eurocharm (5288) Q4 2024 earnings summary

Executive summary

• Consolidated revenue reached NT$7,283,279 thousand for 2024, nearly flat year-over-year, with net income rising to NT$1,139,149 thousand, up 10.5% from 2023.

• Gross profit improved to NT$1,618,197 thousand, and operating income increased to NT$1,131,202 thousand, reflecting cost control and stable demand.

• Earnings per share rose to NT$17.01 basic and NT$16.45 diluted, compared to NT$15.60 and NT$14.95 in 2023.

• The audit opinion was unqualified, with revenue recognition and trade receivables loss allowance highlighted as key audit matters.

Financial highlights

• Revenue was NT$7,283,279 thousand, up slightly from NT$7,267,327 thousand year-over-year.

• Net income attributable to shareholders was NT$1,141,283 thousand, up from NT$1,032,845 thousand.

• Gross margin improved to 22.2% from 20.9% year-over-year.

• Operating expenses increased to NT$487,003 thousand from NT$442,572 thousand.

• Cash and cash equivalents at year-end were NT$1,067,079 thousand, up from NT$974,048 thousand.

Outlook and guidance

• The company adopted new IFRS standards in 2024 with no material impact and is monitoring future changes, including IFRS 18 and 19, for potential effects.

• Dividend policy remains stable, with a cash dividend of NT$8.69 per share for 2024, up from NT$7.74 per share in 2023.