Wiwynn (6669) Q4 2024 earnings summary

Executive summary

• Operating revenue reached NT$360.5 billion in 2024, up 49% year-over-year, with net income of NT$22.8 billion, a 89% increase from 2023.

• Major growth driven by hyperscale data center demand, with America as the largest market segment.

• Significant capital market activities included a global depositary receipt (GDR) issuance and a US$600 million convertible bond offering.

Financial highlights

• Operating revenue: NT$360.5 billion in 2024 vs. NT$241.9 billion in 2023.

• Net income: NT$22.8 billion in 2024 vs. NT$12.0 billion in 2023.

• Gross profit: NT$37.4 billion (10% margin) in 2024, up from NT$22.7 billion (9%) in 2023.

• Basic EPS: NT$126.57 in 2024, up from NT$68.88 in 2023.

• Cash and cash equivalents at year-end: NT$48.3 billion, up from NT$37.5 billion.

Outlook and guidance

• Management expects continued strong demand in cloud infrastructure and hyperscale data centers.

• New factory acquisition in Southern Taiwan Science Park and capital increase in subsidiary to support expansion.