Lite-On Technology (2301) Q4 2024 earnings summary

Executive summary

• Full-year 2024 sales were NT$137.1B, down 7.6% year-over-year, with Q4 sales at NT$38.3B, up 4% year-over-year, led by Cloud & AIoT.

• Net profit attributable to owners was NT$11.96B, EPS NT$5.21; Q4 net profit was NT$3.05B, EPS NT$1.33.

• Gross margin remained stable at 21.6%–22%, operating margin at 9.1%–9.4%.

• R&D expenses were 5.1% of Q4 sales, supporting cloud, opto-electronics, 5G, and new business.

• Cash and cash equivalents increased to NT$100.7B; total assets rose to NT$204.7B.

Financial highlights

• Operating revenue: NT$137.1B (down from NT$148.3B year-over-year).

• Net profit: NT$11.96B (down from NT$14.60B year-over-year).

• Basic EPS: NT$5.21 (down from NT$6.36 year-over-year).

• OPEX for 2024 was NT$14.57B, down 8% year-over-year; OPEX as a percentage of sales was 12.2%.

• Operating cash flow: NT$12.4B (down from NT$27.3B year-over-year).

Outlook and guidance

• 1Q25 expected to see yearly growth from core business, driven by high-end cloud computing and opto-semiconductors.

• New generation AI server power solutions and opto-semiconductors to deliver sequential growth.

• Global expansion, diversified manufacturing, and capacity investments to enhance resilience.

• Dividend policy targets at least 70% of distributable earnings, with cash dividends at least 90% of total.

• Board approved cash dividends of NT$4.5B and NT$5.8B for 2024, pending shareholder approval.