TRUEN (417790) Q4 2024 earnings summary

Executive summary

• Achieved strong growth in 2024 with revenue of KRW 53.6 billion, up 13.6% year-over-year, and net income of KRW 14.4 billion, up 31% from the previous year.

• Main business areas are digital video surveillance systems and IoT, with IP cameras accounting for 81.9% of sales.

• Maintained robust financial health with a current ratio of 1,195.7% and a debt ratio of 6.4%.

• Continued investment in R&D, with 6.08% of sales allocated to research and development.

Financial highlights

• Revenue: KRW 53.6 billion (+13.6% YoY); Operating income: KRW 15.5 billion (+35.7% YoY); Net income: KRW 14.4 billion (+31% YoY).

• Gross margin improved to 51.6% from 55.7% in the prior year.

• Basic EPS: KRW 1,366 (+25.1% YoY).

• Cash and cash equivalents at year-end: KRW 42.7 billion.

• Dividend per share: KRW 230 (payout ratio 16.76%).

Outlook and guidance

• Anticipates continued growth in AI-based surveillance and IoT markets, leveraging proprietary technology and expanding product lines.

• Plans to enhance R&D for AI and edge computing, and expand into new domestic and international markets.