Hana Microelectronics Group Public Company Limited (SET: HANA) has announced 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss)
Million Baht |
405.85 | 733.90 |
| Earning Per Share
(Baht) |
0.4600 | 0.9100 |
| % Change | -44.70 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
1,095.44 | 1,635.77 |
| Earning Per Share (Baht) | 1.2400 | 2.0300 |
| % Change | -33.03 | |
HANA reported a net profit in 3Q24 of Baht 405.85 million, a decrease of Baht 328.05 million or 44.70% compared to the same period of the previous year. The decrease was due to lower sales revenue in 3Q24 compared to 3Q23, revaluation of inventory in Thai operations after strengthening of THB, lower gross margin and increase in capacity at the IC division in South Korea.
Quarter 3 2024 sales revenue for the group decreased -6% year-on-year in USD terms to USD 175m from USD 186 million in 3Q23. The average exchange rate for 3Q24 was 1% stronger at THB/USD 34.8 from THB/USD 35.2 in 3Q23. As a result the sales revenue in THB terms decreased -7% year on year for the quarter.
Year-on-year, in USD terms, the microelectronics division’s sales decreased by -3%. Sales in Lamphun decreased -4% and Jiaxing increased by 0.2% year on year. The IC division’s sales revenues decreased -16% in 3Q24, with revenues of the IC division in Ayutthaya decreasing -15% and Jiaxing decreasing by -25%. Power Master Semiconductor ‘PMS’, in Korea, sales revenue increased 40%. Hana Technologies Inc. ‘HTI’ the Microdisplay/RFID operation in Ohio, USA, sales revenue increased 20% in 3Q24 from 3Q23.
The Gross Profit margin decreased -10% points to 6% in 3Q24 from 16% 3Q23. Gross Margin in 3Q24 decreased due to lower sales revenue in IC Divisions -2%, revaluation of inventory in Thai operations due to THB strengthening 4 baht per USD in 3Q24 -5%, at PMS lower selling prices due to weakness in EV market and higher operating costs to capacity expansion -3%.
Additionally, the Board of Directors approved an interim dividend payment of THB0.25 per share to be paid on 13 December 2024. The ex-dividend date is 28 November 2024.
