YAGEO Corporation (2327 TW) today announced its second-quarter results of 2024. 2Q24 net consolidated sales reported NT$ 31.418 billion, up 10.2% q-o-q and up 17.4% y-o-y. 2Q24 net consolidated profits after tax attributable to parent company achieved NT$ 5.453 billion, up 18.3% q-o-q and up 46.6% y-o-y, or earnings per share of NT$ 13.02.

2Q24 gross margin rate posted 35.1%, up 1.3 percentage point q-o-q and up 1.9 percentage point y-o-y. The operating profit reached NT$ 6.482 billion with 20.6% of operating profit margin rate, up 3.2 percentage point q-o-q and up 1.7 percentage point y-o-y. Non-operating items posted a net gain of NT$ 923 million, mainly attributed to realized and unrealized net gain on foreign exchange of NT$ 287 million and net interest income of NT$ 632 million. In addition, accrued tax on undistributed earnings was NT$ 315 million, which had the influence on EPS about -NT$ 0.75.

1H24 consolidated sales reported NT$ 59.923 billion, up 13.4 % y-o-y. Net consolidated profit after tax attribute to parent company reported NT$ 10.062 billion, up 28.1% y-o-y, or earnings per share of NT$ 24.04. Gross margin rate posted 34.5%, up 1.4% percentage point y-o-y. The operating income reached NT$ 11.446 billion with 19.1% of operating profit margin rate, up 0.2% percentage point y-o-y. Non-operating items posted a net gain of NT$ 2.039 billion, mainly attributed to realized and unrealized net gain on foreign exchange of NT$ 563 million and net interest income of NT$ 1.149 billion.

Moving forward, although uncertainties such as global inflation and international conflicts remain, customer inventories have continuously trended towards healthy levels. The company will closely monitor market supply and demand dynamics and increase capacity utilization to respond to market conditions, remaining optimistic about the operational momentum and future outlook of AI applications.