Nien Made Enterprise (8464) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2024, reached NT$13,726 million, up from NT$12,774 million year-over-year, with net income rising to NT$3,265 million from NT$2,554 million.

• Gross margin improved to 56.4% from 55.4% year-over-year, and operating income margin increased to 27.3% from 24.9%.

• Earnings per share (EPS) for the six-month period rose to NT$10.91 (basic) from NT$8.47 year-over-year.

• The review report from independent auditors found no material misstatements in the financial statements.

Financial highlights

• Operating revenues for Q2 2024 were NT$7,414 million, up from NT$6,710 million in Q2 2023.

• Net income for Q2 2024 was NT$1,819 million, compared to NT$1,402 million in Q2 2023.

• Cash and cash equivalents increased to NT$16,145 million as of June 30, 2024, from NT$12,301 million a year earlier.

• Total assets grew to NT$36,135 million as of June 30, 2024, from NT$32,620 million as of June 30, 2023.

• Dividend per share for 2023 earnings was NT$12.00, up from NT$11.00 for 2022.

Outlook and guidance

• Management continues to monitor market and currency risks, with ongoing investments in capacity and operational expansion.

• The company signed an agreement in August 2024 to acquire land use rights in Vietnam for future operational development.