ISU Petasys (A007660) Q3 2024 earnings summary

Executive summary

• Specializes in high-layer printed circuit boards (PCBs) with manufacturing in Korea, US, and China, serving global IT, data center, and AI accelerator markets.

• 2024 Q3 cumulative sales reached 610.8 billion KRW, up 22% year-over-year, driven by strong AI accelerator demand and high-value product mix.

• Operating profit for Q3 YTD rose 48% YoY to 76.4 billion KRW; net profit increased 37% YoY to 54.1 billion KRW.

Financial highlights

• Q3 2024 cumulative revenue: 610.8 billion KRW (22% YoY growth).

• Operating profit: 76.4 billion KRW (48% YoY growth); net profit: 54.1 billion KRW (37% YoY growth).

• Gross margin improved due to higher sales of high-value PCBs.

• Cash and equivalents at Q3-end: 68.3 billion KRW; total assets: 663.7 billion KRW.

• Dividend payout maintained at 100 KRW per share.

Outlook and guidance

• Continued strong demand expected for AI accelerator and high-layer PCB products.

• Ongoing investments in capacity expansion and new plant construction to meet future demand.

• Market leadership in 18+ layer PCB segment, with global expansion plans.