Taiwan Sakura (9911) Q1 2024 earnings summary

Executive summary

• Operating revenue for Q1 2024 was NT$2,415,756 thousand, up 24% year-over-year from NT$1,942,863 thousand.

• Net income attributable to shareholders was NT$355,572 thousand, a 63% increase from NT$218,572 thousand in Q1 2023.

• Earnings per share (EPS) rose to NT$1.63 (basic) from NT$1.00 in the prior year period.

Financial highlights

• Gross profit margin was 36% in Q1 2024, slightly up from 35% in Q1 2023.

• Operating income increased to NT$401,147 thousand from NT$259,010 thousand year-over-year.

• Total assets as of March 31, 2024 were NT$9,821,214 thousand, up from NT$8,588,720 thousand a year earlier.

• Cash and cash equivalents stood at NT$2,612,221 thousand, up from NT$2,016,374 thousand year-over-year.

Outlook and guidance

• Management notes seasonality, with higher revenues expected in the second half of the year.

• No specific forward-looking financial guidance was provided.