Powertech Technology (6239) Q4 2023 earnings summary

Executive summary

• FY2023 net sales fell to NT$70,440,945 thousand from NT$83,926,735 thousand; net income was NT$9,509,138 thousand versus NT$10,751,849 thousand.

• A NT$3,574,928 thousand gain on disposal of a subsidiary supported non-operating results; operating income declined to NT$8,153,566 thousand from NT$12,448,017 thousand.

Financial highlights

• Gross profit was NT$12,608,975 thousand, down from NT$17,376,020 thousand; cost of revenue was NT$57,831,970 thousand versus NT$66,550,715 thousand.

• Net cash from operating activities was NT$19,681,581 thousand, compared with NT$22,922,620 thousand in 2022.

• Cash and cash equivalents were NT$21,079,749 thousand at year-end, up from NT$20,373,424 thousand.

Segment performance

• Packaging services revenue was NT$48,615,983 thousand, testing NT$15,830,785 thousand, module services NT$5,965,582 thousand and other revenue NT$28,595 thousand.

• Geographically, FY2023 revenue was NT$21,514,180 thousand in Japan, NT$18,117,103 thousand in Taiwan, NT$15,689,481 thousand in Singapore and NT$9,446,028 thousand in America.

• Plant-level segment reporting aligned with consolidated revenue, operating results and asset information.