LX Semicon (108320) Q2 2024 earnings summary

Executive summary

• 2Q24 sales reached KRW 484.9 billion, up 24.2% year-over-year and 5.8% sequentially from 1Q24.

• Gross profit improved to KRW 161.4 billion, with gross margin rising to 33.3% from 30.6% in 1Q24.

• Operating profit increased to KRW 56.1 billion, with operating margin at 11.6%, up from 10.1% in 1Q24.

• Net profit for 2Q24 was KRW 44.3 billion, up from KRW 40.1 billion in 1Q24.

Financial highlights

• EBITDA for 2Q24 was KRW 64.1 billion, with EBITDA margin at 13.2%, up from 11.8% in 1Q24.

• Total assets increased to KRW 1.3948 trillion, up 15.7% from end-2023.

• Cash and cash equivalents rose 66.4% year-to-date to KRW 507.5 billion.

• Total liabilities increased 59.1% to KRW 363.3 billion, with a liabilities-to-equity ratio of 35.2%.

Outlook and guidance

• Forward-looking statements are subject to market and operational uncertainties, with actual results potentially differing materially.