Largan Precision (3008) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2023 was NT$10,985 million, up 34% year-over-year; first half revenue reached NT$22,298 million, up 29% year-over-year.

• Net income for Q2 2023 was NT$4,498 million, up 22% year-over-year; first half net income was NT$10,609 million, up 52% year-over-year.

• Gross margin for Q2 2023 was 48%, consistent with the prior year.

• Operating income for Q2 2023 was NT$1,426 million, up 11% year-over-year.

• Board approved a cash dividend of NT$40 per share for the first half of 2023.

Financial highlights

• Q2 2023 EPS was NT$33.70, up from NT$27.69 in Q2 2022; first half EPS was NT$79.49, up from NT$52.33.

• Cash and cash equivalents at June 30, 2023 were NT$106,420 million.

• Total assets at June 30, 2023 were NT$204,081 million; equity attributable to parent was NT$173,611 million.

• Operating cash flow for the first half was NT$16,969 million.

• Interest income for the first half was NT$2,199 million.

Outlook and guidance

• Management expects continued application of new and revised IFRS standards will not have a material impact.

• No significant seasonality or cyclicality expected in operations.