Fortune Electric (1519) Q2 2024 earnings summary

Executive summary

• Operating revenue for the six months ended June 30, 2024, was NT$7,683,343 thousand, up from NT$4,643,264 thousand year-over-year.

• Net profit for the six months ended June 30, 2024, reached NT$1,483,552 thousand, compared to NT$742,190 thousand in the prior year period.

• Total comprehensive income for the six months ended June 30, 2024, was NT$1,510,966 thousand, up from NT$754,726 thousand year-over-year.

Financial highlights

• Gross profit for the six months ended June 30, 2024, was NT$2,723,186 thousand, up from NT$1,348,506 thousand year-over-year.

• Earnings per share for the six months ended June 30, 2024, were NT$5.20 basic and NT$5.19 diluted, compared to NT$2.61 for both in the prior year period.

• Cash and cash equivalents at June 30, 2024, were NT$3,556,378 thousand, up from NT$693,019 thousand at June 30, 2023.

• Total assets at June 30, 2024, were NT$19,144,217 thousand, compared to NT$12,545,208 thousand at June 30, 2023.

• Total equity at June 30, 2024, was NT$6,077,208 thousand, up from NT$4,367,576 thousand at June 30, 2023.

Outlook and guidance

• The company is preparing for the adoption of new IFRS standards, including IFRS 18, which will impact financial statement presentation and disclosure starting in 2027.