Wonik QnC (074600) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 was ₩674.4 billion, up 11.7% year-over-year, with operating income at ₩98.7 billion and net income at ₩55.8 billion, both showing significant growth compared to the same period last year.

• The company operates across five main segments: Quartz, Ceramics, Lamp, Cleaning & Coating, and Quartz Raw Materials, with a global footprint including subsidiaries in the US, Taiwan, Germany, and China.

• Major customers include leading semiconductor and display manufacturers, with no single customer accounting for more than 10% of total sales.

Financial highlights

• Consolidated revenue for 2024 Q3 YTD reached ₩674.4 billion, up from ₩603.7 billion in the prior year period.

• Operating profit was ₩98.7 billion, a 32.6% increase year-over-year.

• Net profit attributable to controlling interests was ₩43.2 billion, up from ₩33.0 billion in the prior year.

• Basic and diluted EPS for the period was ₩1,644, compared to ₩1,257 last year.

• Cash and cash equivalents at period end were ₩48.2 billion.

Outlook and guidance

• The semiconductor market is expected to grow 13.1% in 2024, driven by AI semiconductor demand and inventory normalization at major customers.

• The company anticipates increased demand in semiconductor-related fields and continued expansion in domestic and overseas markets.