Greatek Electronics (2441) Q2 2024 earnings summary

Executive summary

• Net sales for the six months ended June 30, 2024, reached NT$7,465.5 million, up 14% year-over-year, with net income rising to NT$1,245.1 million, a 31% increase from the prior year period.

• Gross profit margin improved to 22% for the six months, compared to 21% in the same period last year.

• Total comprehensive income for the six months was NT$1,799.7 million, up from NT$1,255.4 million year-over-year.

Financial highlights

• Operating income for the six months ended June 30, 2024, was NT$1,375.7 million, up 26% year-over-year.

• Earnings per share for the six months were NT$2.19 basic and NT$2.17 diluted, compared to NT$1.67 and NT$1.66, respectively, in the prior year.

• Cash and cash equivalents increased to NT$6,221.7 million as of June 30, 2024, from NT$5,051.2 million a year earlier.

• Net cash provided by operating activities for the six months was NT$2,762.9 million, up from NT$2,113.9 million year-over-year.

Outlook and guidance

• Management expects to meet the carbon emissions threshold in 2024, potentially subjecting the company to carbon fees, though the financial impact remains uncertain as regulations are still in draft form.