HANMI Semiconductor (A042700) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 reached 409,321 million KRW, up 157% year-over-year from 159,009 million KRW in the same period last year.

• Operating income surged to 183,449 million KRW, a 431% increase year-over-year.

• Net income attributable to controlling interests was 96,180 million KRW, down from 267,168 million KRW in the prior year due to significant one-off gains in 2023.

• Gross margin improved, with gross profit at 227,384 million KRW for the period.

Financial highlights

• Export sales accounted for 140,682 million KRW, while domestic sales were 268,639 million KRW.

• R&D expenses totaled 15,956 million KRW, representing 3.9% of sales.

• Cash and cash equivalents at period-end were 86,672 million KRW.

• Total assets stood at 724,966 million KRW, with equity of 551,010 million KRW.

• Basic EPS for the period was 999 KRW.

Outlook and guidance

• Demand for HBM (High Bandwidth Memory) and AI semiconductor equipment is expected to drive future growth.

• The company continues to invest in R&D and expand its product portfolio for next-generation semiconductor manufacturing.