Shuang-Bang Industrial (6506) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2024, was NT$976,832 thousand, up from NT$812,303 thousand year-over-year, with net income of NT$57,729 thousand compared to NT$1,046 thousand in 2023.

• Gross profit margin improved to 16.35% from 8.66% year-over-year, and operating income rose to NT$70,331 thousand from a loss of NT$10,958 thousand.

• The board resolved to dissolve and liquidate Shoetex Corporation, a subsidiary, after June 30, 2024.

Financial highlights

• Total assets as of June 30, 2024, were NT$2,637,545 thousand, with liabilities at NT$1,356,670 thousand, resulting in a liability ratio of 51.44%.

• Cash and cash equivalents stood at NT$108,835 thousand, down from NT$242,571 thousand a year earlier.

• Operating cash flow for the six months was NT$81,486 thousand, with net cash used in investing activities of NT$62,183 thousand.

• Basic and diluted EPS for the six months were NT$0.70, up from NT$0.01 in 2023.

• Cash dividends of NT$0.4 per share were distributed for 2023.

Outlook and guidance

• The company operates in a highly seasonal industry, with stronger sales and profits typically in the first half of the year.

• Management continues to monitor the impact of new and upcoming IFRS standards.