Innolux Achieves Profit in Q2 2024, Ends Consecutive Losses
TapTechNews July 31 news, according to the financial report released by Innolux yesterday (30), this important display panel enterprise achieved a post-tax net profit of NT$1.2 billion in the second quarter, ending the consecutive eight-quarter loss.
Innolux's consolidated revenue in the second quarter of 2024 was NT$569 billion (TapTechNews note: currently about 12.561 billion RMB), setting a new high in three quarters, with a year-on-year increase of 3.2% and a sequential increase of 12.6%. Among them, 78% came from the display field group, and the remaining 22% came from the non-display field group.
In addition, Innolux achieved a 10% gross margin in the previous quarter, and the operating net profit was NT$400 million (currently about 88.303 million RMB), and the diluted earnings per share was NT$0.12.
Innolux's panel shipment area in the second quarter of 2024 reached 6.71 million square meters, a sequential increase of 11.5%, and the average sales price of liquid crystal panels was $259 per square meter.
By field division, TV applications accounted for 40% of the total revenue, automotive applications accounted for 22%, notebook applications accounted for 21%, mobile phone and commercial applications accounted for 12%, and desktop display applications accounted for 5%;
By size division, 10 inches or less accounted for 13%, 10-20 inches accounted for 33%, 20-30 inches accounted for 14%, 30-40 inches accounted for 7%, and over 40 inches accounted for 33%.
Innolux said:
Looking forward to the third quarter of 2024, the consumption willingness continues to be affected by inflation, and the pulling momentum slows down. It is expected that the shipment volume will be slightly reduced, and the price is expected to remain stable.
It is expected that the demand for screen area by consumers will increase year by year, the demand for IT panels driven by AI will increase, and under the trend of 'production on demand' in the industry, the supply and demand are expected to be stable.
The company will continue to dynamically allocate production capacity and improve production efficiency according to market trends and customer needs.
At the same time, Innolux will be committed to promoting the dual-track transformation strategy and continuously deepening the layout in the non-display field.