Giga-Byte Technology (2376) Q4 2024 earnings summary

Executive summary

• Consolidated financial statements for the years ended December 31, 2024 and 2023 were audited and present fairly in all material respects in accordance with IFRS and local regulations.

• The group operates globally in computer hardware, peripherals, and related components, with no single customer exceeding 10% of revenue.

Financial highlights

• Operating revenue rose to $265,148,779 thousand NTD in 2024, up 94% year-over-year from $136,773,409 thousand NTD.

• Net income attributable to owners was $9,788,540 thousand NTD, up from $4,742,979 thousand NTD in 2023.

• Gross profit increased to $28,092,487 thousand NTD (11% margin), compared to $16,575,441 thousand NTD (12% margin) in 2023.

• Operating profit was $12,776,549 thousand NTD, up from $4,895,175 thousand NTD.

• Basic EPS was $15.03, up from $7.46; diluted EPS was $14.46, up from $7.40.

Outlook and guidance

• New IFRS standards effective from 2024 and 2025 are not expected to have significant impact.

• Pillar Two global minimum tax rules are being assessed, with no material impact yet.