Foxconn Industrial Internet (601138) H2 2024 earnings summary

Executive summary

• Achieved record revenue of ¥609.14 billion, up 27.88% year-over-year, with net profit attributable to shareholders of ¥23.22 billion, up 10.34% year-over-year.

• AI server revenue grew over 150% year-over-year, driving cloud computing business to surpass 50% of total revenue.

• Maintained strong global presence and digital transformation leadership, with 8 internal and 5 external “Lighthouse Factories” by year-end.

• Proposed cash dividend of ¥6.4 per 10 shares, totaling ¥12.71 billion, with a payout ratio of 54.74%.

Financial highlights

• Operating income: ¥609.14 billion, up 27.88% year-over-year.

• Net profit attributable to shareholders: ¥23.22 billion, up 10.34% year-over-year.

• Operating cash flow: ¥23.82 billion, down 44.71% year-over-year due to slower receivables collection.

• Basic and diluted EPS: ¥1.17, up 10.38% year-over-year.

• Gross margin: 7.22%, down 0.79 percentage points year-over-year.

Outlook and guidance

• Expects continued robust AI demand and further expansion in AI infrastructure and digital transformation.

• Will focus on strengthening global capacity, AI product innovation, and sustainable development.

• 2025 strategy emphasizes AI-driven manufacturing, global market expansion, and ESG integration.