Wistron (3231) Q3 2024 earnings summary

Executive summary

• Net revenues for the nine months ended September 30, 2024 reached NT$752.1 billion, up 18% year-over-year, with net profit attributable to owners at NT$12.1 billion, a 49% increase from the prior year.

• Gross margin improved to 8% from 7.5% year-over-year, and operating income rose 61% to NT$27.1 billion for the period.

• The Group completed the acquisition of GEOSAT Aerospace & Technology Inc., expanding into unmanned aerial vehicle products and engineering services.

• Disposed its entire equity in Wistron InfoComm Manufacturing (India) Private Limited, resulting in a disposal loss of USD4.6 million.

Financial highlights

• Net revenues for Q3 2024 were NT$272.5 billion, up 25.6% compared to Q3 2023.

• Gross profit for the nine months was NT$60.1 billion, with a gross margin of 8%.

• Operating income for the nine months was NT$27.1 billion, up from NT$16.9 billion year-over-year.

• Net profit attributable to owners for the nine months was NT$12.1 billion, up from NT$8.1 billion year-over-year.

• Basic EPS for the nine months was NT$4.26, compared to NT$2.90 for the same period last year.

Outlook and guidance

• The Group continues to evaluate the impact of new IFRS standards, including IFRS 18, with no significant impact expected in the near term.

• WYHQ, a key subsidiary, entered into an agreement in November 2024 to build a new plant in Tainan Science Park to support future growth.