JUSUNG ENGINEERING (036930) Q4 2024 earnings summary

Executive summary

• Revenue for FY2024 was KRW 409.4 billion, up 43.8% year-over-year, driven by strong semiconductor equipment sales and increased overseas demand.

• Operating income surged 235.9% to KRW 97.2 billion, with an operating margin of 23.7%.

• Net income reached KRW 106.8 billion, up 214.2% year-over-year, with a net margin of 26.1%.

• Significant investments in R&D and production capacity supported growth and future competitiveness.

Financial highlights

• Total assets increased 22.6% to KRW 986.8 billion, mainly due to higher cash, receivables, and inventory.

• Equity rose 10.1% to KRW 566.6 billion, while total liabilities increased 44.7% to KRW 420.2 billion.

• Cash and cash equivalents at year-end were KRW 250.7 billion, up 126.6% from the prior year.

• R&D expenses were KRW 94.2 billion, representing 23% of sales.

• Dividend per share proposed at KRW 287, with a payout ratio of 12.3%.

Outlook and guidance

• Management expects continued growth in semiconductor and display equipment, leveraging advanced ALD technology and expanding global partnerships.

• Focus remains on innovation, global market expansion, and sustainable profitability.