Grand Process Technology (3131) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 reached NT$1,859,856 thousand, up 11% year-over-year; net income attributable to owners was NT$377,382 thousand, a 40% increase from the same period last year.

• Gross margin improved to 43% from 40% year-over-year, reflecting better product mix and cost control.

• The company maintained a strong cash position, with cash and equivalents at NT$2,825,109 thousand as of June 30, 2024.

• Board approved a cash dividend of NT$16 per share for 2023, distributed in March 2024.

Financial highlights

• Operating income for H1 2024 was NT$374,686 thousand, up from NT$320,990 thousand year-over-year.

• Basic EPS for H1 2024 was NT$13.04, compared to NT$9.41 for the same period last year.

• Total assets increased to NT$9,152,405 thousand as of June 30, 2024, from NT$7,521,587 thousand a year earlier.

• Equity attributable to owners rose to NT$4,172,951 thousand, up from NT$3,297,169 thousand year-over-year.

• Operating cash flow for H1 2024 was NT$551,254 thousand, up from NT$238,444 thousand year-over-year.

Outlook and guidance

• Management expects continued growth in semiconductor and chemical equipment sales, supported by robust order backlog.

• No material impact anticipated from new or revised accounting standards effective in 2024.