Fortune Electric (1519) Q3 2024 earnings summary

Executive summary

• For the nine months ended September 30, 2024, total operating revenue reached NT$13,040,220 thousand, up from NT$8,287,731 thousand year-over-year.

• Net profit for the period was NT$2,710,429 thousand, a significant increase from NT$1,452,127 thousand in the prior year period.

• Earnings per share for the nine months were NT$9.48 basic, compared to NT$5.09 in the same period last year.

Financial highlights

• Gross profit for the nine months was NT$4,776,144 thousand, up from NT$2,546,779 thousand year-over-year.

• Profit from operations rose to NT$3,186,924 thousand from NT$1,590,294 thousand year-over-year.

• Total assets as of September 30, 2024, were NT$19,594,992 thousand, with total equity at NT$7,299,850 thousand.

• Cash and cash equivalents at period end were NT$2,296,134 thousand, up from NT$1,737,486 thousand at the start of the period.

Outlook and guidance

• The company is preparing for the adoption of new IFRS standards, including IFRS 18 and IFRS 19, with ongoing assessment of their impact on financial reporting.