Simplo Technology (6121) Q3 2024 earnings summary

Executive summary

• Simplo Technology reported consolidated revenue of NT$58.6 billion for the nine months ended September 30, 2024, a 4% decrease year-over-year, with net profit attributable to owners at NT$3.8 billion, down from NT$4.2 billion in 2023.

• The company remains a leading battery foundry, with operations spanning Taiwan, the US, China, and Singapore, and continues to focus on lithium battery products.

• The financial statements received a qualified review due to some non-significant subsidiaries and equity-method investments not being reviewed, but no material misstatements were identified.

Financial highlights

• Operating revenue for the nine months was NT$58.6 billion, down from NT$61.1 billion year-over-year.

• Gross profit margin remained stable at 14%, with gross profit of NT$8.0 billion.

• Net profit attributable to owners was NT$3.8 billion, compared to NT$4.2 billion in the prior year.

• Basic EPS for the nine months was NT$20.56, down from NT$22.66 year-over-year.

• Cash and cash equivalents at period end were NT$17.8 billion.

Outlook and guidance

• The company continues to monitor IFRS changes, including amendments to IAS 21 and upcoming standards, but expects no material impact on financial position or performance.

• No specific forward-looking revenue or profit guidance was provided.