UNISEM (036200) Q4 2024 earnings summary

Executive summary

• Revenue for FY2024 was KRW 218.2 billion, down 6.0% year-over-year, with operating income at KRW 10.0 billion, a 42.6% decrease, and net income at KRW 15.5 billion, down 15.0%.

• The company maintained a strong financial position with total assets of KRW 263.1 billion (+8.1%) and a low debt ratio of 15.2%.

• Cash and cash equivalents at year-end were KRW 37.0 billion, with a net decrease of KRW 10.8 billion from the prior year.

Financial highlights

• Gross profit margin declined to 11.6% from 15.7% due to higher raw material costs and lower sales.

• Operating cash flow was KRW 36.2 billion, while investing activities used KRW 44.0 billion, mainly for asset purchases.

• Dividend payout was KRW 2.35 billion, with a payout ratio of 15.18% and a cash dividend per share of KRW 80.

Outlook and guidance

• Management expects continued market uncertainty due to global inflation, supply chain disruptions, and selective capex by semiconductor customers.

• The company is focusing on cost control, R&D for eco-friendly and advanced cooling technologies, and expanding its overseas customer base.