Solum (248070) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was ₩1,250,985 million, down from ₩1,951,088 million in Q3 2023, reflecting a year-over-year decline.

• Operating income for Q3 2024 was ₩67,828 million, a significant decrease from ₩154,516 million in Q3 2023.

• Net income attributable to controlling interests was ₩39,447 million for Q3 2024, compared to ₩119,407 million in Q3 2023.

• The company operates two main segments: Electronic Components (Power Modules, 3IN1 Boards) and ICT (ESL, IoT), with global manufacturing and sales presence.

Financial highlights

• Gross margin for Q3 2024 was ₩198,317 million, down from ₩252,636 million in Q3 2023.

• EPS (basic) for Q3 2024 was ₩808, compared to ₩2,464 in Q3 2023.

• Total assets as of September 30, 2024, were ₩950,676 million; total liabilities were ₩520,932 million; equity was ₩429,744 million.

• Cash and cash equivalents at quarter-end were ₩80,686 million, down from ₩131,852 million at the end of 2023.

• R&D expenses for the first three quarters were ₩25,521 million, representing 2.0% of sales.

Outlook and guidance

• The company is expanding into healthcare wearables and secondary battery reuse, targeting high-growth markets.

• Plans include further product diversification and global market expansion, especially in ESL and IoT.

• Ongoing investments in R&D and new business lines are expected to support future growth.