SynPower (6658) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, was NT$1,092,729 thousand, up 10.9% year-over-year from NT$985,442 thousand.

• Net income attributable to owners for the same period was NT$7,365 thousand, down from NT$30,643 thousand year-over-year.

• Gross margin for the nine months was 22.6%, compared to 24.6% in the prior year.

• The company completed a capital increase and expanded its long-term borrowings to support capacity expansion.

Financial highlights

• Operating income for the nine months was NT$16,091 thousand, down from NT$25,864 thousand year-over-year.

• Basic and diluted EPS for the nine months were NT$0.22, compared to NT$1.02 in the prior year.

• Cash and cash equivalents at September 30, 2024, were NT$528,985 thousand.

• Total assets increased to NT$2,553,511 thousand from NT$2,129,990 thousand a year ago.

• Total liabilities rose to NT$1,376,670 thousand from NT$1,030,989 thousand year-over-year.

Outlook and guidance

• The company is expanding production capacity with new plant construction and additional long-term financing.

• Ongoing investments in subsidiaries and affiliates in China and India to strengthen regional business.