LX Semicon (108320) Q4 2024 earnings summary

Executive summary

• 4Q24 revenue reached KRW 5,026 hundred million, up from 3Q24 and 4Q23.

• Gross profit for 4Q24 was KRW 1,662 hundred million, with a gross margin of 33.1%.

• Operating profit for 4Q24 was KRW 305 hundred million, with an operating margin of 6.1%.

• EBITDA for 4Q24 was KRW 398 hundred million, with an EBITDA margin of 7.9%.

• Net profit for 4Q24 was KRW 208 hundred million.

Financial highlights

• 2024 annual sales totaled KRW 18,656 hundred million, a slight decrease from 2023's KRW 19,014 hundred million.

• Gross profit for 2024 was KRW 6,159 hundred million, up from 2023's KRW 5,340 hundred million.

• Operating profit for 2024 was KRW 1,671 hundred million, up from 2023's KRW 1,263 hundred million.

• Net profit for 2024 was KRW 1,305 hundred million, a significant increase from 2023's KRW 469 hundred million.

• 4Q24 sales increased 19.7% sequentially from 3Q24.

Segment performance

• Mobile segment contributed 53% of 4Q24 sales, up from 33% in 3Q24 and 52% in 4Q23.

• TV and IT segments accounted for 21% and 22% of 4Q24 sales, respectively.

• Large DDI share dropped to 37% in 4Q24 from 55% in 3Q24; Small DDI rose to 53%.