Lotes (3533) Q1 2025 earnings summary

Executive summary

• Net profit for 2024 reached NT$9,276,952 thousand, up 66% year-over-year, with revenue of NT$19,418,200 thousand, a 25% increase from 2023.

• Gross margin improved to 32% in 2024 from 27% in 2023, reflecting higher sales and effective cost management.

• All convertible bonds were fully converted by July 2024, strengthening equity and eliminating related liabilities.

• Cash dividends proposed for 2024 total NT$4,670,190 thousand, with a payout ratio of NT$41.50 per share, up from NT$26.00 in 2023.

• The company maintained a strong cash position, ending 2024 with NT$11,074,514 thousand in cash and equivalents.

Financial highlights

• Operating revenue rose 25% year-over-year to NT$19,418,200 thousand; net profit increased 66% to NT$9,276,952 thousand.

• Basic EPS for 2024 was NT$82.77, up from NT$50.65 in 2023; diluted EPS was NT$82.33.

• Gross profit margin increased to 32% from 27% year-over-year; net margin reached 48%.

• Cash flows from operating activities were NT$5,085,512 thousand, with a net increase in cash of NT$3,137,680 thousand.

• Total assets grew to NT$47,932,447 thousand, and equity rose to NT$35,970,017 thousand by year-end 2024.

Outlook and guidance

• The board proposed a significant increase in cash dividends for 2024, reflecting strong profitability and cash flow.

• Adoption of new IFRS standards is not expected to have a material impact; the company is assessing future changes for IFRS 18 effective 2027.