Greatek Electronics (2441) Q4 2024 earnings summary

Executive summary

• Revenue increased 12% year-over-year to NT$15.21 billion, driven by growth in both assembly and testing services.

• Net income rose 25% year-over-year to NT$2.50 billion, with EPS at NT$4.39 (basic) and NT$4.34 (diluted).

• Gross margin improved to 22% from 21% in the prior year.

• Cash and cash equivalents increased to NT$6.62 billion, up from NT$4.73 billion at year-end 2023.

Financial highlights

• Operating income grew 20% year-over-year to NT$2.73 billion.

• Total comprehensive income was NT$2.27 billion, impacted by a NT$228 million unrealized loss on equity investments.

• Cash dividends of NT$2.5 per share were distributed for 2023; a proposed NT$3.0 per share for 2024.

• Total assets reached NT$26.07 billion, with equity at NT$22.38 billion.

Outlook and guidance

• The board proposed a higher cash dividend for 2024, reflecting confidence in future cash flows.

• The group expects to be subject to carbon fees under new environmental regulations, based on 2023 emissions.