Soulbrain (357780) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 was 426,990 million KRW, down from 844,029 million KRW in FY2023 and 1,090,867 million KRW in FY2022.

• Operating profit for H1 2024 was 91,809 million KRW, compared to 133,488 million KRW in FY2023 and 207,051 million KRW in FY2022.

• Net income attributable to controlling interests for H1 2024 was 89,845 million KRW, down from 130,363 million KRW in FY2023 and 162,794 million KRW in FY2022.

• The company maintains a strong market position in semiconductor (85%), display (40%), and secondary battery materials (30%).

Financial highlights

• Cash and cash equivalents at June 2024: 212,346 million KRW, up from 160,827 million KRW at Dec 2023.

• Total assets at June 2024: 1,098,837 million KRW; total equity: 1,001,010 million KRW.

• Dividend payout for FY2023 was 15,486 million KRW, with a payout ratio of 11.88%.

• R&D expenses for H1 2024 were 12,168 million KRW, representing 3.07% of sales.

Outlook and guidance

• The company plans to maintain or increase its cash dividend payout ratio above 400% of par value.

• Ongoing investments in new facilities, including a new headquarters, with completion targeted for March 2025.

• Facility investments in H1 2024 totaled approximately 39 billion KRW, focused on capacity expansion and performance improvement.