Largan Precision (3008) Q4 2024 earnings summary

Executive summary

• Net revenue for 2024 reached NT$59.46 billion, up 22% year-over-year, while another report cites NT$58.97 billion, up 24% year-over-year; net income was NT$25.92 billion, a 45% increase from 2023.

• Gross margin improved to 52% from 48% in 2023, and operating margin rose to 40% from 36% year-over-year.

• Earnings per share for 2024 was NT$194.17, compared to NT$134.13 in 2023.

Financial highlights

• 4Q24 net revenue was NT$18.21 billion, up 2% year-over-year.

• Gross profit for 2024 was NT$31.17 billion, up 31% year-over-year.

• Operating income for 2024 was NT$23.98 billion, up 35% year-over-year, with another report citing NT$23.31 billion, up 34%.

• Cash and cash equivalents at year-end were NT$84.81 billion, down from NT$96.74 billion in 2023.

• Cash dividends distributed in 2024 totaled NT$13.06 billion (NT$97.5 per share).

Segment performance

• In 4Q24, 60-70% of lens shipments were 10MP, 20-30% were 20MP+, and 0-10% were 8MP or others.

• For the full year 2024, 50-60% of lens shipments were 10MP, 20-30% were 20MP+, 10-20% were others, and 0-10% were 8MP.

• Revenue from lens sales to mobile phone manufacturers remains the primary driver.