National Aerospace Fasteners (3004) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 (113/1/1–6/30) was NT$1,701 million, up 21% year-over-year from NT$1,410 million.

• Net income for the same period was NT$198 million, a 59% increase from NT$125 million year-over-year.

• Gross margin for H1 2024 was 28%, up from 26% in H1 2023.

• The company’s main business is manufacturing fasteners and structural components for aerospace and automotive industries.

Financial highlights

• Operating income for H1 2024 was NT$244 million, up from NT$159 million year-over-year.

• Basic EPS for H1 2024 was NT$3.65, compared to NT$2.36 in H1 2023.

• Cash and cash equivalents at June 30, 2024, were NT$189 million, up from NT$88 million a year earlier.

• Total assets at June 30, 2024, were NT$5,814 million, up from NT$4,775 million at June 30, 2023.

• Total liabilities increased to NT$3,334 million from NT$2,695 million year-over-year.

Outlook and guidance

• Management aims to maintain a debt-to-capital ratio below 60%, with the ratio at 45% as of June 30, 2024.

• No significant impact expected from newly adopted or upcoming accounting standards.