Wistron (3231) Q2 2024 earnings summary

Executive summary

• Revenue for Q2 2023 reached NT$240.2 billion, up 15.8% year-over-year; net income attributable to parent was NT$4.41 billion, up 35.4% year-over-year.

• Gross margin for Q2 was 8.4%, slightly higher than the prior year; basic EPS for Q2 was NT$1.55, up from NT$1.16 last year.

• Cash and cash equivalents at period end were NT$54.4 billion, down from NT$61.8 billion a year ago.

• The company completed the acquisition of a controlling stake in 經緯航太, expanding into UAV products and engineering services.

Financial highlights

• Q2 2023 revenue: NT$240.2 billion (+15.8% YoY); H1 2023 revenue: NT$479.5 billion (+14.3% YoY).

• Q2 2023 net income attributable to parent: NT$4.41 billion (+35.4% YoY); H1 2023: NT$7.94 billion (+131.3% YoY).

• Q2 2023 gross profit: NT$20.1 billion; gross margin: 8.4% (Q2 2022: 7.6%).

• Q2 2023 operating income: NT$8.65 billion; H1 2023: NT$17.13 billion.

• Basic EPS for Q2 2023: NT$1.55; H1 2023: NT$2.79.

Outlook and guidance

• Management expects continued growth in core business segments, supported by new investments and product lines.

• No significant seasonal or cyclical factors expected to impact operations.