HD Renewable Energy (6873) Q4 2024 earnings summary

Executive summary

• Revenue for the year ended December 31, 2024, was NT$10,125,465 thousand, up 73% year-over-year, with net income of NT$1,179,133 thousand, a 44% increase from the prior year.

• Gross margin remained stable at 27%, while basic EPS rose to NT$11.10 from NT$8.16 year-over-year.

• The company continued to expand its solar and energy storage business, with significant investments and acquisitions in Taiwan, Japan, and Australia.

Financial highlights

• Operating income increased to NT$1,624,650 thousand, up 64% year-over-year.

• Cash and cash equivalents at year-end were NT$4,593,322 thousand, up from NT$3,985,167 thousand.

• Total assets grew to NT$18,532,968 thousand, a 42% increase from the prior year.

• Total liabilities increased to NT$9,252,028 thousand, with equity at NT$9,280,940 thousand.

• Operating cash flow was NT$2,053,739 thousand, compared to an outflow of NT$1,777,151 thousand the previous year.

Outlook and guidance

• The company expects to recognize NT$25,653,972 thousand in remaining contract value over the next 1–3 years as projects are completed.

• Ongoing expansion in energy storage and international markets is anticipated to drive future growth.