Montage Technology Co. (688008) Q4 2024 earnings summary

Executive summary

• Achieved revenue of ¥3,638.91 million in 2024, up 59.20% year-over-year, with net profit attributable to shareholders at ¥1,411.78 million, up 213.10%.

• Significant growth driven by recovery in global server and computer demand, DDR5 chip penetration, and new high-performance chip products.

• Fourth quarter revenue reached ¥1,068 million, up 40.43% year-over-year and 17.90% sequentially, with net profit of ¥434 million, up 99.72% year-over-year.

Financial highlights

• Operating profit for 2024 was ¥1,412.89 million, up 199.32% year-over-year.

• Net profit excluding non-recurring items was ¥1,248.29 million, up 237.44% year-over-year.

• Basic EPS was ¥1.25, up 212.50% year-over-year.

• Gross margin for interconnect chips in 2024 was 62.66%, up 1.30 percentage points year-over-year.

• Fourth quarter gross margin for interconnect chips was 63.42%, up 1.21 percentage points sequentially.

Outlook and guidance

• Growth expected to continue, supported by strong DDR5 chip demand and AI-driven product launches.