Magnate Technology (4541) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 (113年) was NT$632.4 million, up 7% year-over-year from NT$589.1 million in the same period last year.

• Net income for the first half of 2024 was NT$1.94 million, reversing a net loss of NT$33.74 million in the prior year period.

• Second quarter 2024 net income was NT$12.19 million, compared to a net loss of NT$10.71 million in Q2 2023.

• Earnings per share for the first half of 2024 were NT$0.03, compared to a loss per share of NT$0.50 in the prior year.

Financial highlights

• Gross margin for the first half of 2024 was 9%, up from 3% in the prior year period.

• Operating income for the first half of 2024 was NT$16.93 million, compared to an operating loss of NT$80.83 million in the prior year.

• Cash and cash equivalents at June 30, 2024 were NT$199.6 million, down from NT$343.6 million a year earlier.

• Total assets at June 30, 2024 were NT$3.87 billion, slightly down from NT$3.95 billion at June 30, 2023.

• Total liabilities at June 30, 2024 were NT$2.33 billion, up from NT$1.37 billion at June 30, 2023.

Outlook and guidance

• The board approved a plan to issue up to NT$1 billion in new secured corporate bonds to support future growth and capital needs.