Techwing (089030) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was KRW 185.5 billion, up 38.9% year-over-year, but net loss widened to KRW 22.0 billion from a KRW 11.1 billion loss in 2023.

• Operating profit increased to KRW 23.4 billion from KRW 3.2 billion in 2023, driven by higher sales in semiconductor test equipment.

• Cash and cash equivalents at year-end were KRW 25.5 billion, up from KRW 13.6 billion in 2023.

• Major customers include Micron, Western Digital, and SK Hynix, with Micron accounting for 45% of sales.

• The company expanded its business scope to include solar power generation in 2024.

Financial highlights

• Revenue: KRW 185.5 billion in 2024, up from KRW 133.6 billion in 2023.

• Operating profit: KRW 23.4 billion, up from KRW 3.2 billion in 2023.

• Net loss: KRW 22.0 billion, compared to a net loss of KRW 11.1 billion in 2023.

• EPS: -584 won, compared to -260 won in 2023.

• Cash flow from operations: KRW 32.7 billion, up from KRW 20.4 billion in 2023.

Outlook and guidance

• The company expects continued demand for semiconductor test equipment, especially for AI and HBM memory markets.

• Solar power business is expected to generate stable, long-term revenue starting from 2025.

• Management is focused on expanding global customer base and investing in R&D for next-generation test solutions.