SynPower (6658) Q2 2024 earnings summary

Executive summary

• Consolidated financial statements for the six months ended June 30, 2024, were reviewed by Deloitte and found to be fairly presented in accordance with IFRS and Taiwan regulations.

• The company operates in electronic equipment assembly, processing, testing, and PCB surface finishing, with shares listed on the Taiwan Stock Exchange since November 2023.

Financial highlights

• Revenue for Q2 2024 was NT$481.9 million, up 54% year-over-year; first half revenue was NT$764.8 million, up 26% year-over-year.

• Net income attributable to owners for Q2 2024 was NT$15.3 million, up 45% year-over-year; first half net income was NT$16.0 million, up 38% year-over-year.

• Basic and diluted EPS for Q2 2024 were NT$0.47; for the first half, NT$0.49.

• Gross margin for Q2 2024 was 21%, slightly down from 22% in Q2 2023.

• Operating profit for Q2 2024 was NT$23.6 million, up from NT$3.6 million in Q2 2023.

Outlook and guidance

• No explicit forward-looking guidance provided, but capital expenditures and investments indicate ongoing expansion in manufacturing capacity.