King Slide Works Co (2059) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 reached NT$4,454,476 thousand, up from NT$2,475,171 thousand year-over-year.

• Net profit for the same period was NT$2,843,335 thousand, more than double the NT$1,172,366 thousand from the prior year.

• Cash and cash equivalents increased to NT$14,708,853 thousand as of June 30, 2024, compared to NT$12,602,683 thousand at the end of 2023.

Financial highlights

• Gross profit for H1 2024 was NT$2,959,428 thousand, up from NT$1,453,955 thousand year-over-year.

• Operating income for H1 2024 was NT$2,546,208 thousand, compared to NT$1,146,848 thousand in H1 2023.

• Basic EPS for H1 2024 was NT$29.84, up from NT$12.30 in H1 2023.

• Net cash from operating activities was NT$1,760,846 thousand for H1 2024, up from NT$1,340,555 thousand year-over-year.

• Total assets as of June 30, 2024, were NT$23,610,982 thousand, up from NT$20,580,928 thousand at year-end 2023.

Capital allocation and financing

• Cash dividends paid in H1 2024 totaled NT$1,352,265 thousand.

• Repayments of long-term debt and lease liabilities amounted to NT$220,715 thousand and NT$16,229 thousand, respectively, in H1 2024.

• Acquisition of property, plant, and equipment was NT$277,182 thousand in H1 2024.