EVE Energy (300014) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached ¥12.39 billion, down 1.3% year-over-year; YTD revenue was ¥34.05 billion, down 4.16% year-over-year.

• Net profit attributable to shareholders in Q3 was ¥1.05 billion, down 17.44% year-over-year; YTD net profit was ¥3.19 billion, down 6.88% year-over-year.

• Excluding non-recurring items, Q3 net profit rose 11.38% year-over-year; YTD adjusted net profit increased 16%.

• Cash flow from operations in Q3 was ¥2.12 billion, down 60.51% year-over-year.

Financial highlights

• Total assets at Q3-end were ¥100.84 billion, up 6.88% from year-end 2023.

• Shareholders' equity reached ¥36.62 billion, up 5.44% from year-end 2023.

• Basic and diluted EPS for Q3 were both ¥0.51, down 17.74% year-over-year; YTD EPS was ¥1.56, down 6.59%.

• Weighted average ROE for Q3 was 2.90%, down 0.94 percentage points year-over-year.

Outlook and guidance

• New passenger vehicle battery models to be delivered starting Q4, with expectations for further demand release as new models perform well.

• Continued focus on global market expansion and supply chain integration to enhance competitiveness.