FIT Hon Teng (6088) Q3 2024 earnings summary

Executive summary

• Unaudited consolidated financial results for the nine months ended September 30, 2024, were released to comply with disclosure requirements in both Hong Kong and Taiwan.

• Results are based on management accounts and may be subject to adjustments after internal review.

Financial highlights

• Revenue for the nine months ended September 30, 2024, was US$3,241.2 million, up from US$2,948.8 million year-over-year.

• Net profit from continuing operations for the nine months was US$100.7 million, more than double the US$46.2 million in the prior year period.

• Total comprehensive income for the nine months reached US$108.5 million, compared to a loss of US$21.3 million in the same period last year.

• For Q3 2024, revenue was US$1,174.4 million, slightly higher than US$1,164.7 million in Q3 2023.

• Net profit for Q3 2024 was US$68.0 million, up from US$54.9 million in Q3 2023.

Key financial ratios and metrics

• Total net assets as of September 30, 2024, were US$2,547.2 million, up from US$2,325.5 million as of September 30, 2023.

• Cash and cash equivalents at period end were US$1,121.9 million, compared to US$1,104.3 million at the end of the prior year period.