FIRSTEC (010820) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 increased 19.7% year-over-year to ₩207.3 billion, with operating income up 73.4% to ₩4.3 billion and net income up 136.3% to ₩10.9 billion.

• Total assets rose 32.2% to ₩350.5 billion, while total liabilities increased 41.5% to ₩286.8 billion, and equity grew 2.1% to ₩63.7 billion.

• The company operates in the defense industry, focusing on advanced weapon systems, and maintains a strong R&D pipeline.

Financial highlights

• Gross profit margin remained stable as gross profit increased 19.3% to ₩13.6 billion.

• Cash and cash equivalents at year-end were ₩94.4 billion, up from ₩13.1 billion the previous year.

• Operating cash flow was ₩74.8 billion, with significant investment in financial assets and a reduction in long-term debt.

• Basic EPS rose to ₩225 from ₩96 year-over-year.

Outlook and guidance

• Management anticipates continued uncertainty in 2025 due to global economic and policy factors, focusing on cost control and profitability improvement.

• Strategic emphasis on R&D, market expansion, and operational efficiency to maintain competitiveness.