Mega Union Technology (6944) Q4 2024 earnings summary

Executive summary

• Consolidated financial statements for the years ended December 31, 2024 and 2023 were audited and received an unmodified opinion, confirming fair presentation in accordance with IFRS and local regulations.

• The Group is primarily engaged in planning, design, and installation of ultrapure water and wastewater recycling systems, with revenue recognized based on stage of completion.

Financial highlights

• Operating revenue increased to $10,300,194 thousand in 2024, up 14% year-over-year from $9,012,888 thousand.

• Net profit for 2024 was $1,512,088 thousand, a 41% increase from $1,069,898 thousand in 2023.

• Gross profit margin improved to 23% in 2024 from 20% in 2023.

• Basic EPS rose to $22.33 in 2024 from $15.97 in 2023; diluted EPS was $21.46, up from $14.76.

• Cash and cash equivalents at year-end 2024 were $3,058,714 thousand, up from $1,663,035 thousand.

Outlook and guidance

• The aggregate transaction price allocated to unsatisfied construction contracts at year-end 2024 was $14,986,495 thousand, expected to be recognized as revenue over the next one to two years.

• The Board approved a cash dividend of $14.00 per share for 2024, pending shareholder approval.