Uni-President Enterprises (1216) Q2 2024 earnings summary

Executive summary

• Consolidated revenue for the six months ended June 30, 2024, was NT$320.88 billion, up 19.4% year-over-year, with strong growth across convenience stores, foods, and packaging segments.

• Net income attributable to owners for the six months was NT$11.44 billion, a 2.1% increase year-over-year.

• Earnings per share for the six months were NT$2.01, compared to NT$1.97 in the prior year period.

Financial highlights

• Operating profit for the six months was NT$17.83 billion, up 21.8% year-over-year.

• Gross margin remained stable at 33% for both the current and prior year periods.

• Total assets as of June 30, 2024, were NT$688.65 billion, with equity attributable to owners at NT$124.14 billion.

• Cash and cash equivalents at period end were NT$98.74 billion.

Outlook and guidance

• Management expects continued revenue growth driven by expansion in convenience stores and food segments.

• The Group is monitoring the impact of new international tax regulations (OECD Pillar Two) and expects to assess exposure in the coming periods.