YAGEO Reports First-Quarter 2024 Results
2024/04/18YAGEO Corporation (2327 TW) today announced its first-quarter results of 2024. 1Q24 net consolidated sales reported NT$ 28.505 billion, up 4.2% q-o-q and up 9.2% y-o-y. 1Q24 net consolidated profits after tax attributable to parent company achieved NT$ 4.609 billion, down 2.9% q-o-q but up 11.6% y-o-y, or earnings per share of NT$ 11.02.
1Q24 gross margin rate posted 33.8%, down 0.7 percentage point q-o-q but up 0.8 percentage point y-o-y. The operating profit reached NT$ 4.964 billion with 17.4% of operating profit margin rate, down 1.1 percentage point q-o-q and down 1.5 percentage point y-o-y. Non-operating items posted a net gain of NT$ 1.115 billion, mainly attributed to realized and unrealized net gain on foreign exchange of NT$ 276 million and net interest income of NT$ 518 million.
Moving forward, the client's inventory adjustment is estimated to end in the second quarter, and the supply chain’s inventory level gradually become healthy despite macro uncertainties such as market demand/supply, rising inflation, and international conflicts are still there. The company will closely monitor the market dynamics and stay optimistic to AI demand and business outlook.
