JUSUNG ENGINEERING Co. (A036930) Q3 2024 earnings summary

Executive summary

• Achieved operating profit turnaround in Q2 2024, driven by semiconductor sector recovery and strong overseas sales, with operating profit of 361 billion KRW and margin of 37%.

• Revenue for the nine months ended September 30, 2024, was ₩301.1 billion, up from ₩186.4 billion year-over-year.

• Net income for the same period reached ₩84.8 billion, a significant increase from ₩7.0 billion year-over-year.

• Gross profit margin improved, with gross profit at ₩188.5 billion for the nine months, up from ₩99.99 billion year-over-year.

• Cash and cash equivalents at period-end were ₩227.2 billion, up from ₩47.2 billion at the end of Q3 2023.

Financial highlights

• Q2 2024 operating profit of 36.1 billion KRW, a 515% increase year-over-year, reversing prior losses.

• Q2 2024 revenue of 97.3 billion KRW, up 207% year-over-year; semiconductor segment contributed 95.6 billion KRW.

• Operating income for the nine months was ₩95.3 billion, up from ₩6.2 billion year-over-year.

• Basic and diluted EPS for the nine months were ₩1,793, compared to ₩148 year-over-year.

• Total assets increased to ₩960.1 billion from ₩805.3 billion at the previous year-end.

Outlook and guidance

• Anticipates further revenue and profit growth in Q3 2024 as domestic DRAM investments ramp up and global semiconductor capex expands.

• Market analysts expect continued strong performance in H2 2024, led by memory semiconductor investment recovery and new equipment portfolio expansion.

• The company is closely monitoring climate-related risks and regulatory changes, integrating these into future estimates and assumptions.

• No material impact from recent accounting standard changes is expected on the consolidated financial statements.