HANMI Semiconductor (A042700) Q3 2024 earnings summary

Executive summary

• Hanmi Semiconductor reported strong financial results for the nine months ended September 30, 2024, with significant growth in revenue and profitability year-over-year, driven by robust demand for semiconductor manufacturing equipment, especially for HBM and AI-related applications.

• The company maintained a solid financial position, with high liquidity, low leverage, and continued investments in R&D and capacity expansion.

• Major customers include global semiconductor leaders, and the company continues to lead in key equipment segments such as DUAL TC BONDER and micro SAW.

Financial highlights

• Consolidated revenue for the nine months ended September 30, 2024, was ₩409.3 billion, up 157% year-over-year from ₩159.0 billion.

• Operating income reached ₩183.4 billion, a 431% increase from ₩34.6 billion in the prior year period.

• Net income attributable to controlling interests was ₩96.2 billion, down from ₩267.2 billion in the prior year, which included a large one-time gain from equity investments.

• Gross margin for the period was 55.7%, up from 54.2% year-over-year.

• Basic EPS for the nine months was ₩999, compared to ₩2,753 in the prior year, reflecting the absence of the previous year’s one-off gain.

Outlook and guidance

• The company expects continued strong demand for HBM and AI semiconductor equipment, with further growth anticipated in 2025 as global AI and 4th industrial revolution trends accelerate.

• Ongoing investments in R&D and production capacity are planned to support new product launches and market expansion.