TRUEN (417790) Q2 2024 earnings summary

Executive summary

• Specializes in digital video surveillance systems and IoT solutions, with a focus on AI-based products and cloud services.

• Achieved strong financial performance in the first half of 2024, maintaining robust profitability and cash flow.

• Maintains a leading position in public sector security markets and is expanding in domestic and overseas IoT markets.

Financial highlights

• Revenue for H1 2024 was ₩24.3 billion, down from ₩47.2 billion in FY2023.

• Operating income for H1 2024 was ₩6.1 billion; net income was ₩5.9 billion.

• Gross margin for H1 2024 was approximately 53.2%.

• Basic EPS for H1 2024 was ₩562.

• Cash and cash equivalents at June 30, 2024, were ₩28.5 billion.

Outlook and guidance

• Anticipates continued growth in AI-based surveillance and IoT markets, with ongoing R&D investment.

• Plans to enhance product competitiveness and expand into new domestic and international markets.