TES Co (095610) Q2 2024 earnings summary

Executive summary

• Main business is manufacturing semiconductor equipment, with over 95% of sales from this segment for the first half of 2024.

• 2024 H1 consolidated sales were 102.7 billion KRW, operating profit 12.4 billion KRW, and net profit 19.8 billion KRW.

• Domestic sales accounted for 79%, overseas 21%; semiconductor business made up 97% of total sales.

Financial highlights

• Consolidated revenue for H1 2024: 102.7 billion KRW, down from 146.9 billion KRW in H1 2023.

• Operating profit: 12.4 billion KRW (H1 2023: -5.9 billion KRW), net profit: 19.8 billion KRW (H1 2023: 1.6 billion KRW).

• Basic EPS: 1,130 KRW (H1 2023: 89 KRW).

• Cash and cash equivalents at period end: 9.8 billion KRW.

• Dividend payout ratio for FY2023 was 560.1%.

Outlook and guidance

• The company plans to continue balanced shareholder returns and maintain dividend policy, considering future growth and profitability.

• Ongoing focus on R&D and customer diversification to strengthen competitiveness.