PCL Technologies (4977) Q2 2024 earnings summary

Executive summary

• Consolidated revenue for H1 2023 was NT$341.35 million, down 74% year-over-year from NT$1,308.90 million in H1 2022.

• Net income attributable to owners for H1 2023 was NT$10.34 million, a sharp decline from NT$328.48 million in H1 2022.

• Basic EPS for H1 2023 was NT$0.13, compared to NT$4.11 in H1 2022.

Financial highlights

• Gross margin for H1 2023 was 11%, compared to 24% in H1 2022.

• Operating loss for H1 2023 was NT$43.89 million, versus operating profit of NT$318.41 million in H1 2022.

• Cash and cash equivalents increased to NT$1,289.56 million as of June 30, 2023, up from NT$832.21 million a year earlier.

• Total assets as of June 30, 2023 were NT$5,578.22 million, up from NT$5,066.21 million as of June 30, 2022.

• Short-term borrowings rose to NT$678.43 million from NT$240.95 million year-over-year.

Outlook and guidance

• Management continues to monitor rapid technology changes and customer demand shifts in the high-tech sector, with inventory valuation and impairment closely watched.