NVC International (2222) H2 2024 earnings summary

Executive summary

• Revenue rose 0.3% year-over-year to US$236.6 million, with gross profit up 10.9% to US$74.7 million.

• Net loss for the year was US$15.4 million, reversing from a profit of US$37.7 million in the prior year.

• Loss attributable to owners was US$17.5 million, compared to a profit of US$35.7 million last year.

• No final dividend was declared for 2024.

Financial highlights

• Gross profit margin improved to 31.6% from 28.5% year-over-year, driven by procurement and cost control.

• Selling and distribution expenses fell 11.5% to US$30.8 million; admin expenses dropped 7.2% to US$33.9 million.

• Impairment loss of US$26.6 million recognized on interest in associate BLIHP.

• Basic loss per share was US$0.0344, down from earnings per share of US$0.0779 last year.

• Net current assets stood at US$166.7 million; current ratio at 3.02.

Outlook and guidance

• International lighting remains the core business for 2025, with focus on product innovation and cost efficiency.

• Plans to expand indoor air quality business and enhance brand awareness globally.

• Cautious outlook due to global economic uncertainty, with strategies to optimize product lines and expand OEM business.