Saimo Technology (300466) Q3 2024 earnings summary

Executive summary

• Q3 revenue was ¥121.84 million, up 1.52% YoY; 9M revenue fell 27.28% to ¥360.99 million, with a 9M net loss attributable to shareholders of ¥19.59 million.

• Q3 net loss attributable to shareholders was ¥22.32 million; the 9M adjusted net loss was ¥24.29 million.

Financial highlights

• 9M total operating costs declined 21.5% to ¥370.43 million; reported operating costs were ¥471.96 million in the prior-year period.

• 9M non-recurring gains totaled ¥1.97 million, including ¥2.56 million in government grants, partly offset by debt restructuring and other items.

• 9M investment income fell 96.86% YoY, mainly due to weaker results at an investee; other income declined 36.21%, mainly due to lower government subsidies.

Segment performance

• Smart logistics systems activity declined, driving the 9M revenue decrease; automation operations increased advance procurement to meet customer delivery requirements.