MNC Solution (A484870) Q4 2024 earnings summary

Executive summary

• Achieved record revenue of KRW 282.8 billion in 2024, up 54.2% year-over-year, driven by strong domestic and export defense sales.

• Operating income rose 68.6% to KRW 34.8 billion, and net income increased 85.6% to KRW 27.0 billion compared to 2023.

• Total assets grew to KRW 357.1 billion, while liabilities decreased by KRW 55.2 billion, improving the debt ratio to 115.9%.

• Completed a corporate split and listed on the KOSPI in December 2024.

Financial highlights

• Revenue: KRW 282.8 billion (+54.2% YoY); Operating income: KRW 34.8 billion (+68.6% YoY); Net income: KRW 27.0 billion (+85.6% YoY).

• Gross margin improved to 17.5% from 15.4% in 2023.

• Cash and equivalents at year-end: KRW 82.7 billion.

• EPS from continuing operations: KRW 3,394 (2024), up from KRW 401 (2023).

• Dividend payout ratio: 50.25% of net income.

Outlook and guidance

• Plans to expand direct export business, enter new civilian servo valve markets, and participate in aerospace/space projects.

• Focus on securing future growth engines through R&D and new business initiatives.