Greatek Electronics (2441) Q3 2024 earnings summary

Executive summary

• Net sales for the nine months ended September 30, 2024, reached NT$11,325,759 thousand, up 12.8% year-over-year, with net income rising 24.1% to NT$1,918,141 thousand.

• Gross profit margin improved to 23% from 20% year-over-year, and operating income margin increased to 19% from 16%.

• Earnings per share for the nine months were NT$3.37 basic and NT$3.34 diluted, compared to NT$2.72 and NT$2.69, respectively, in the prior year.

Financial highlights

• Operating income for the nine months was NT$2,132,226 thousand, up 31.7% year-over-year.

• Cash and cash equivalents increased to NT$5,714,047 thousand as of September 30, 2024, from NT$3,725,079 thousand a year earlier.

• Total assets grew to NT$25,369,845 thousand, and total equity reached NT$21,981,631 thousand.

• Cash dividends of NT$2.5 per share were distributed in 2024, down from NT$3.7 per share in 2023.

Outlook and guidance

• Management expects to be subject to carbon fees under new environmental regulations due to emission levels, potentially impacting future costs.