Solum (248070) Q2 2024 earnings summary

Executive summary

• The company operates globally in electronic components and ICT, with manufacturing and R&D subsidiaries in China, Vietnam, Mexico, India, and other regions.

• Main business segments are Power Modules and ICT (ESL, IoT), with a focus on innovation and global expansion.

• The company is pursuing new business areas in healthcare wearables and secondary battery reuse, targeting high-growth markets.

Financial highlights

• 2024 H1 consolidated revenue: ₩778.8 billion, down from ₩1,951.1 billion in H1 2023.

• Operating profit for 2024 H1: ₩40.9 billion, down from ₩154.5 billion in H1 2023.

• Net income attributable to controlling interests: ₩27.5 billion for 2024 H1, down from ₩119.4 billion in H1 2023.

• Basic EPS for 2024 H1: ₩563, compared to ₩2,464 in H1 2023.

• Cash and cash equivalents at June 2024: ₩97.0 billion.

Outlook and guidance

• The company is expanding into healthcare and battery reuse, expecting rapid growth in these sectors.

• Plans to leverage existing technology and customer networks for new revenue streams.

• Ongoing investments in R&D and organizational capacity to support new business initiatives.