Taiwan High Speed Rail (2633) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2024, was NT$26,502,845 thousand, up from NT$24,457,346 thousand year-over-year, reflecting continued growth in railroad transportation revenue.

• Net income for the six months ended June 30, 2024, was NT$3,715,057 thousand, compared to NT$3,754,124 thousand for the same period last year.

• The company maintained a stable dividend policy, distributing NT$1.02 per share for 2023, up from NT$0.67 per share for 2022.

Financial highlights

• Gross profit margin for the six months ended June 30, 2024, was 45%, consistent with the prior year.

• Operating income for the six months ended June 30, 2024, was NT$11,087,129 thousand, up from NT$10,225,680 thousand year-over-year.

• Basic and diluted EPS for the six months ended June 30, 2024, were NT$0.66, slightly down from NT$0.67 year-over-year.

• Total assets as of June 30, 2024, were NT$400,473,358 thousand, with equity of NT$69,310,498 thousand.

Outlook and guidance

• The company continues to focus on stable operations and capital management to ensure sufficient resources for working capital, capital expenditures, and debt repayments.

• No significant events after the reporting period were disclosed.