Powerchip Semiconductor Manufacturing (6770) Q4 2024 earnings summary

Executive summary

• Report covers consolidated financials for Powerchip Semiconductor Manufacturing Corporation and subsidiaries for years ended December 31, 2024 and 2023, audited by Deloitte with an unmodified opinion.

• Company operates in semiconductor R&D, manufacturing, testing, packaging, and sales, with shares listed on TWSE and GDRs on Luxembourg Stock Exchange.

Financial highlights

• Operating revenue for 2024 was NT$44.73 billion, up 1.6% year-over-year from NT$44.02 billion in 2023.

• Net loss widened to NT$6.78 billion in 2024 from NT$1.64 billion in 2023; basic and diluted loss per share were NT$1.64 (2023: NT$0.40).

• Gross profit dropped sharply to NT$525 million (1% margin) from NT$5.29 billion (12% margin) year-over-year.

• Operating expenses increased to NT$9.82 billion (22% of revenue) from NT$9.26 billion (21%).

• Cash and cash equivalents at year-end 2024 were NT$18.36 billion, down from NT$40.58 billion.

Outlook and guidance

• Company expects to be subject to carbon fees starting January 2025 under new Taiwan regulations, with provisions to be recognized based on actual emissions.

• No cash dividends were distributed for 2024 due to losses; future appropriations to be determined.