Silergy (6415) Q2 2024 earnings summary

Executive summary

• Silergy Corp. reported consolidated financial statements for the six months ended June 30, 2024, with revenue and net profit growth compared to the same period last year.

• The independent auditors issued an unqualified opinion, confirming fair presentation of the financials.

• Key audit matter identified was the significant increase in sales revenue from specific customers, with audit procedures confirming occurrence and validity.

Financial highlights

• Operating revenue for H1 2024 was NT$8,456,870 thousand, up 20% year-over-year; Q2 revenue was NT$4,615,270 thousand.

• Net profit for H1 2024 was NT$625,429 thousand, compared to NT$40,101 thousand in H1 2023.

• Basic EPS for H1 2024 was NT$1.66, up from NT$0.30 in H1 2023.

• Gross margin for H1 2024 was 53%, up from 43% in H1 2023.

• Total comprehensive income for H1 2024 was NT$2,272,523 thousand, compared to a loss of NT$284,512 thousand in H1 2023.

Outlook and guidance

• The company is monitoring the impact of new and upcoming IFRS standards, including IFRS 18 and amendments to IAS 21, with no material impact expected yet.

• Management continues to assess the effects of amended standards and will disclose impacts when assessments are complete.