Kostecsys (355150) Q2 2024 earnings summary

Executive summary

• Specializes in thermal management and packaging for power semiconductors, with a focus on SiC and GaN devices for 5G, EV, and industrial applications.

• Completed a merger in March 2023, resulting in a new listing and expanded business scope.

• Maintains a strong global client base, with 90% of sales from exports to the US, China, Taiwan, and Europe.

Financial highlights

• 2024 H1 revenue: ₩7.5B, up from ₩4.6B in 2023 H1.

• 2024 H1 net income: ₩337M, a turnaround from a net loss of ₩11.5B in 2023 H1.

• Gross margin improved to 18.5% in 2024 H1 from 11.8% in 2023 H1.

• Operating income for 2024 H1: ₩290M, compared to a loss of ₩585M in 2023 H1.

• Cash and equivalents at June 2024: ₩561M.

Outlook and guidance

• Anticipates continued growth in 5G, EV, and power semiconductor markets.

• Focus on expanding global sales and developing new high-performance thermal management products.