E-Lead Electronic (2497) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 was NT$1,971.8 million, up from NT$1,595.2 million year-over-year, with net income of NT$156.3 million, a significant increase from NT$94.5 million in the prior year period.

• Gross margin for the first half of 2024 was 25%, with operating income of NT$119.9 million, up from NT$80.6 million year-over-year.

• Earnings per share (EPS) for the first half of 2024 was NT$1.27 (basic) and NT$1.25 (diluted), compared to NT$0.77 and NT$0.76, respectively, in the prior year period.

Financial highlights

• Cash and cash equivalents at June 30, 2024, were NT$687.0 million, down from NT$969.2 million a year earlier.

• Total assets stood at NT$4,376.9 million, with total liabilities of NT$2,153.3 million and equity of NT$2,223.6 million.

• Operating cash flow for the first half of 2024 was NT$175.7 million, down from NT$269.5 million year-over-year.

• Inventory at June 30, 2024, was NT$931.3 million, slightly down from NT$1,042.0 million a year earlier.

• Short-term borrowings decreased to NT$547.1 million from NT$825.5 million year-over-year.

Outlook and guidance

• Management continues to focus on automotive electronics, including head-up displays, digital mirrors, and ADAS, with ongoing investments in R&D and new product lines.

• No specific forward-looking financial guidance was provided.