Sanil Electric (062040) Q4 2024 earnings summary

Executive summary

• Achieved record quarterly revenue of 108.4 billion KRW in Q4 2024, marking the first time surpassing 100 billion KRW in a quarter.

• Operating profit for Q4 2024 reached 33.7 billion KRW, with a margin of 31.1%.

• FY2024 revenue totaled 334.0 billion KRW, up 55.7% year-over-year; operating profit rose 135.0% to 109.2 billion KRW.

• Net income for FY2024 increased 114.3% year-over-year to 83.7 billion KRW.

Financial highlights

• Q4 2024 revenue grew 35.9% sequentially and 108.5% year-over-year.

• Q4 2024 operating profit increased 21.2% sequentially and 603.5% year-over-year.

• FY2024 operating profit margin improved to 32.7% from 21.7% in 2023.

• Q4 2024 net income rose 18.1% sequentially and 497.2% year-over-year.

Outlook and guidance

• Order backlog increased 14.0% sequentially to 3,892 units, with new orders up 35.1% quarter-over-quarter.

• Focus on high-demand North American market and renewable energy orders, including four new renewable projects in Q4 2024.