Wiwynn Reports First Quarter 2024 Financial Results

Following the Board of Directors meeting today (May 7), Wiwynn Corporation announced consolidated revenue at NT$69.628billion, decreased by 6.2% year-over-year. Operating profit of NT$5.856 billion, profit before tax (PBT) of NT$5.902 billion, profit after tax (PAT) of NT$4.707 billion, and basic earnings per share (EPS) of NT$26.92 for the first quarter ended March 31, 2024. Operating profit, PBT, PAT and EPS all achieved record highs.

Benefiting from the increasing proportion of new product projects, year-over-year, gross margin increased by 2.8ppt to 11.1%, operating margin increased by 2.4ppt to 8.4%, PAT margin increased by 2.4ppt to 6.8%. Gross margin, operating margin and PAT margin all achieved record highs.

The Company is optimistic about the long-term demand growth in the cloud industry and AI servers and is committed to continuous investments to deepen data center technologies and product development. In the first quarter, the Company has invested a leading cooling technologies company, ZutaCore, and a private fund, Andra Capital, to develop diverse technologies and further explore potential market. The Company is also continuously implementing the global in-house capacity plan. The second factory in Malaysia, and the second factory in Tainan are on schedule, and the third factory in Mexico has entered mass production stage.