TECO Electric & Machinery (1504) Q4 2024 earnings summary

Executive summary

• Consolidated financial statements for the years ended December 31, 2024 and 2023 were audited and present fairly in all material respects in accordance with IFRS and local regulations.

• The audit opinion is unqualified, with key audit matters focused on revenue recognition for export sales in the green mechatronic solution business group.

• Major business segments include green mechatronic solutions, intelligence energy, and air and intelligent life, with significant international operations.

Financial highlights

• Sales revenue for 2024 was NT$55,234,746 thousand, down 7% year-over-year from NT$59,393,661 thousand.

• Net income attributable to owners was NT$5,767,637 thousand in 2024, a slight decrease from NT$5,830,061 thousand in 2023.

• Basic and diluted EPS for 2024 were NT$2.73, compared to NT$2.76 in 2023.

• Operating profit was NT$6,231,605 thousand, down from NT$6,663,252 thousand year-over-year.

• Total assets at year-end 2024 were NT$124,310,117 thousand, with total equity of NT$81,673,053 thousand.

Outlook and guidance

• The company continues to focus on international expansion and green energy, with recent acquisitions in the transformer and energy sectors.

• Dividend policy remains stable, with a cash dividend of NT$2.2 per share for 2024.