Wiwynn (6669) Q3 2024 earnings summary

Executive summary

• Wiwynn Corporation reported strong growth for the nine months ended September 30, 2024, with significant increases in revenue and net income year-over-year.

• The company completed a major overseas convertible bond issuance and a global depositary receipt (GDR) offering to support future expansion.

• Operations remain focused on hyperscale data center products and services, with no significant segment division.

Financial highlights

• Operating revenue for the nine months reached NT$244.93 billion, up 33.6% from NT$183.35 billion year-over-year.

• Net income for the nine months was NT$15.73 billion, a 84.4% increase from NT$8.53 billion year-over-year.

• Gross profit margin remained stable at 11% for the period.

• Basic EPS for the nine months was NT$88.38, up from NT$48.78 year-over-year.

• Cash and cash equivalents increased to NT$47.44 billion as of September 30, 2024, from NT$19.37 billion a year earlier.

Outlook and guidance

• Management expects continued compliance with financial covenants and anticipates no issues with liquidity or capital requirements for at least the next 12 months.

• The company is expanding manufacturing capacity, including a new factory in Tainan Science Park.