UNIVERSAL MICROWAVE TECH (3491) Q4 2024 earnings summary

Executive summary

• Consolidated revenue for 2024 reached NT$2,334,956 thousand, up 47% year-over-year, driven by significant growth in sales to specific customers.

• Net profit for 2024 was NT$586,715 thousand, a 143% increase compared to 2023.

• The audit report issued an unqualified opinion, with key audit focus on the authenticity of sales revenue from major customers.

Financial highlights

• Operating profit rose to NT$621,799 thousand in 2024 from NT$202,469 thousand in 2023.

• Gross margin decreased to 49% in 2024 from 59% in 2023, despite higher revenue.

• Earnings per share (EPS) increased to NT$8.59 (basic) and NT$8.35 (diluted) in 2024, up from NT$3.20 and NT$3.12, respectively.

• Cash and cash equivalents at year-end 2024 were NT$1,246,567 thousand, up from NT$731,186 thousand.

• Total assets grew to NT$4,283,279 thousand, and total equity to NT$2,512,585 thousand.

Outlook and guidance

• The board proposed a 2024 cash dividend of NT$3.8 per share and an additional NT$2.8 per share from capital surplus, pending shareholder approval.

• Management expects continued growth in the microwave, RF, and network engineering segments, supported by global demand and new investments in Vietnam and Thailand.