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Chang Wah Electromaterials (par value of NT$1 per share) Reports Preliminary Financial Results for the Fourth Quarter of 2024
Issued by: Chang Wah Electromaterials Inc.
Issued on: February 11, 2025
Chang Wah Electromaterials (CWE*, 8070) announced its financial results for the fourth quarter of 2024 on February 11. The Company reported unaudited consolidated revenue of NT$4,492 million for the quarter. The gross margin and operating margin stood at 19.8% and 10.5%, respectively. Net profit attributable to owners of the Corporation was NT$336 million, translating to earnings per share (EPS) of NT$0.48, based on a par value of NT$1 per share.
Compared to the previous quarter, consolidated revenue increased by 1%. However, changes in the product sales mix led to a decline of over 2.5% in both gross margin and operating margin, which fell to 19.8% and 10.5%, respectively. Net profit attributable to owners of the Corporation decreased by 23% to NT$336 million. On a year-over-year basis, the fourth-quarter consolidated revenue grew by 8%, with gross profit and profit from operation rising by 13% and 11%, respectively. Unlike the fourth quarter of 2023, which was impacted by foreign exchange losses, the appreciation of the U.S. dollar in the fourth quarter of 2024 resulted in foreign exchange gains, driving a 187% year-over-year surge in net profit attributable to owners of the Corporation.
For the full year 2024, CWE delivered a stronger financial performance than in 2023, achieving the third-highest revenue in the Company’s history, trailing only 2021 and 2022. Annual consolidated revenue reached NT$17,231 million, with gross profit and profit from operation both increasing by over 10% year-over-year. Non-operating income also saw significant gains, further boosting profitability. Pre-tax profit totaled NT$3,027 million, while net profit attributable to owners of the Corporation reached NT$1,592 million. Based on a par value of NT$1 per share, full-year 2024 EPS stood at NT$2.32.
Unit：NT$ Million
| Item/Period | Q4 2024 | Q3 2024 | Q4 2023 | QoQ | YoY |
|---|---|---|---|---|---|
| Consolidated revenue | 4,492 | 4,466 | 4,170 | 1% | 8% |
| Gross profit | 890 | 1009 | 790 | -12% | 13% |
| Profit from operations | 471 | 580 | 424 | -19% | 11% |
| Profit before income tax | 728 | 761 | 312 | -4% | 133% |
|
Net profit attributable to owners of the Corporation |
336 | 439 | 117 | -23% | 187% |
| After-tax EPS (NT$) | 0.48 | 0.63 | 0.17 | -24% | 174% |
| Gross margin | 19.8% | 22.6% | 18.9% | Down 2.8% | Up 0.9% |
| Operating margin | 10.5% | 13.0% | 10.2% | Down 2.5% | Up 0.3% |
| Pre-tax profit margin | 16.2% | 17.0% | 7.5% | Down 0.8% | Up 8.7% |
| Net profit margin | 13.2% | 14.8% | 6% | Down 1.6% | Up 7.2% |
Note 1: The after-tax EPS is calculated based on a par value of NT$1 per share.
Note 2: The financial figures for the fourth quarter of 2024 are preliminary and may be adjusted following the auditor’s audit.
Unit：NT$ Million
| Item/Period | 2024 | 2023 | YoY |
|---|---|---|---|
| Consolidated revenue | 17,231 | 16,490 | 4% |
| Gross profit | 3,505 | 3,072 | 14% |
| Profit from operations | 1,925 | 1,680 | 15% |
| Profit before income tax | 3,027 | 2,688 | 13% |
|
Net profit attributable to owners of the Corporation |
1,592 | 1,477 | 8% |
| After-tax EPS (NT$) | 2.32 | 2.19 | 6% |
| Gross margin | 20.3% | 18.6% | Up 1.7% |
| Operating margin | 11.2% | 10.2% | Up 1% |
| Pre-tax profit margin | 17.6% | 16.3% | Up 1.3% |
| Net profit margin | 14.6% | 13.6% | Up 1% |
Note 1: The after-tax EPS is calculated based on a par value of NT$1 per share.
Note 2: The 2024 financial figures are preliminary and may be adjusted following the auditor's audit.
【About Chang Wah Electromaterials】
CWE (8070.tw) specializes in the sales and technical services of semiconductor packaging materials and advanced packaging equipment, including lead frames, EME, silver paste, and IC substrates. The Company is also dedicated to strengthening its presence in the packaging materials market for key components of electric vehicle and automotive electronics. Furthermore, it partners with manufacturers to advance the IC substrate market for Micro LED and Mini LED packaging. Looking ahead, CWE will drive operational growth through its three primary business focuses: 3Cs (computer, communication, and consumer electronics), automotive, and industrial applications. Additionally, through strategic investments, the Company has expanded into the semiconductor front-end process materials, enabling CWE Group to build a comprehensive semiconductor material ecosystem and strengthen its influence within the industry. For more information, please visit the CWE official website: https://www.cwei.com.tw/