PCL Technologies (4977) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2024 was NT$272,989 thousand, up 99% year-over-year from NT$137,436 thousand in Q1 2023.

• Q1 2024 net loss attributable to owners was NT$102,568 thousand, compared to net income of NT$11,909 thousand in Q1 2023.

• Gross margin improved to 24% in Q1 2024 from 6% in Q1 2023.

• Significant increase in other comprehensive income, mainly from currency translation and fair value gains.

Financial highlights

• Operating loss for Q1 2024 was NT$51,829 thousand, compared to NT$36,513 thousand in Q1 2023.

• Basic and diluted EPS for Q1 2024 were both NT$(1.29), versus NT$0.15 in Q1 2023.

• Cash and cash equivalents at March 31, 2024 were NT$764,892 thousand, down from NT$1,022,422 thousand at year-end 2023.

• Total assets at March 31, 2024 were NT$4,890,940 thousand, down from NT$5,119,659 thousand at December 31, 2023.

• Short-term borrowings increased to NT$475,956 thousand from NT$454,239 thousand at year-end.

Outlook and guidance

• The company adopted new IFRS standards effective January 1, 2024, with no material impact.

• No forward-looking financial guidance was provided.