Micro-Star International Company (2377) Q3 2024 earnings summary

Executive summary

• Sales revenue for the nine months ended September 30, 2024 was NT$146.39 billion, up 9% year-over-year, with net income of NT$6.33 billion, down 7% from NT$6.79 billion in the prior year period.

• Operating profit for the nine months was NT$6.56 billion, a 12% decrease year-over-year, reflecting higher operating expenses and lower gross margin.

• The company operates as a single segment focused on computers and peripherals, with the Board of Directors as the chief decision-maker.

Financial highlights

• Gross margin for the nine months was 13%, unchanged from the prior year period.

• Operating expenses increased to NT$12.33 billion from NT$10.12 billion year-over-year.

• Basic EPS for the nine months was NT$7.49, down from NT$8.04 in the prior year period.

• Cash and cash equivalents at September 30, 2024 were NT$22.38 billion, down from NT$25.77 billion at year-end 2023.

• Total assets increased to NT$104.90 billion from NT$98.98 billion a year ago.

Outlook and guidance

• The company expects no significant impact from newly adopted or upcoming IFRS standards.

• Construction of a new factory in Guishan, Taoyuan, with a total project cost of NT$5.9 billion, is expected to be completed in 2028.