ISU Petasys (A007660) Q2 2024 earnings summary

Executive summary

• Achieved consolidated revenue of 404.4 billion KRW for H1 2024, up 20% year-over-year, driven by strong demand from global data center and AI accelerator markets.

• Operating profit reached 50.5 billion KRW, a 32% increase year-over-year, with net profit at 39.6 billion KRW.

• Export sales accounted for over 95% of total revenue, with a single major customer representing 41% of sales.

Financial highlights

• Gross margin improved to 19.9% in H1 2024 from 18.4% in H1 2023.

• Operating margin rose to 12.5% from 11.5% year-over-year.

• Net margin increased to 9.8% from 9.3% year-over-year.

• Cash and cash equivalents at period-end were 47.8 billion KRW.

• Total assets grew to 658.8 billion KRW, with equity at 299.5 billion KRW.

Outlook and guidance

• Anticipates continued growth in data center and AI-related PCB demand, with further expansion in high-value product lines.

• Ongoing investments in capacity and automation to support global competitiveness.