Enchem (A348370) Q2 2024 earnings summary

Executive summary

• Consolidated financial statements for the half-year ended June 30, 2024, were reviewed and found to be fairly presented under Korean IFRS 1034, with no material misstatements identified.

• The company operates globally in electronic materials, primarily electrolytes for batteries, with subsidiaries in Korea, China, the US, Poland, Hungary, Indonesia, France, and Canada.

Financial highlights

• Revenue for H1 2024 was ₩186.5 billion, down from ₩262.4 billion year-over-year.

• Operating loss for H1 2024 was ₩11.2 billion, compared to operating profit of ₩10.6 billion in H1 2023.

• Net loss attributable to controlling interests was ₩309.5 billion for H1 2024, compared to net profit of ₩13.3 billion in H1 2023.

• Basic and diluted EPS for H1 2024 were both negative at (16,885) KRW, compared to 860 KRW and 810 KRW in H1 2023.

• Cash and cash equivalents at June 30, 2024, were ₩55.9 billion, up from ₩44.6 billion at December 31, 2023.

Outlook and guidance

• Management states sufficient liquidity and capital resources to meet obligations and support ongoing operations and investments.

• No significant risks identified that would materially impact financial performance as of the reporting date.