LITEON Technology (2301-tw) today reported the third quarter consolidated sales of NT$36.8 billion, up 10% Q-o-Q. With the continuous delivery growth of high-value businesses, optimization of product mix, and the synergy brought by digitalized operational management, the gross profit and operating profit for the third quarter reached NT$8.3 billion and NT$3.9 billion, up 12% and 20% Q-o-Q respectively. The gross profit margin reached 22.4%, and the operating profit margin was 10.7%, up 0.2 and 0.8 ppt Q-o-Q, respectively. The net profits for the third quarter was NT$3.4 billion, with EPS of NT$1.48, up 9% Q-o-Q. Cumulated sales for the first three quarters of year 2024 reached NT$98.8 billion, with gross profit margin of 21.7% and operating profit margin of 9.5%. Earnings per share were NT$3.88.
LITEON continues to realize its growth blueprint, launching innovative solutions in AI servers and energy management at North American trade shows. |
“LITEON continues to steer the progress of AI server applications and energy management, gradually achieving targets. At this year’s Open Compute Project (OCP) Summit, we debuted integrated AI cloud server rack solution powered by NVIDIA, connecting five core capabilities: power, liquid cooling, mechanical design, software, and system integration. Furthermore, the 33KW power shelf for new AI server power supplies will begin shipping in the fourth quarter. Gradual increase in volume is expected in the first quarter of next year. The Liquid to Air cooling system will ship prototype units in the fourth quarter, while the Liquid to Liquid system has completed system testing and is expected to start shipping in 2025. These innovative technologies from LITEON will lay a strong foundation for next-generation high-performance computing and AI applications.
Additionally, at the RE+ Energy Expo in North America this September, we officially entered the home energy storage market, debuting our home energy management solutions for the first time. Leveraging LITEON’s strong foundation in power management, combined with an AI algorithm-driven energy management platform, we help users better manage and predict their electricity usage and costs. Under the Internet of Energy (IoE) strategic blueprint, LITEON is gradually advancing towards market applications in energy storage, energy saving, energy control, and energy conversion, establishing long-term growth momentum for new businesses,” said Mr. Anson Chiu, President of LITEON Technology.
2023 Sustainability Report: Empowering with Innovative Technology, Sustaining a Brighter Future Together |
LITEON just released the 2023 Sustainability Report at the third quarter. In pursuit of net-zero transformation, companies are the most crucial doers and leaders. This year, LITEON joined RE100, committing to using 100% renewable energy by 2040. In terms of environmental sustainability, LITEON has deepened industry connections, not only adhering to SBT targets but also setting its own goal of reducing carbon intensity by 5% annually. In 2023, carbon reduction efforts continued to exceed targets by nearly 15%. Additionally, in 2023, LITEON initiated the first -1111 EcoRevolve Shopping Fair, a second-hand charity market advocating for a minimalist lifestyle and reflecting on overconsumption, which received widespread acclaim. At the end of 2024, we will once again co-host the -1111 EcoRevolve Shopping Fair, with eight leading benchmark companies in sustainability. All proceeds from the charity sale will be donated to 14 NGOs covering six diverse fields, making it the largest sustainability event with cross-industry collaboration. Finally, in the 10th Corporate Governance Evaluation of listed companies, we maintained our top 5% ranking, demonstrating solid corporate governance.
Outlook for Q4: The core business is expected continue to grow, driving operational momentum. |
Looking ahead to the fourth quarter of 2024, the performance of core business continues to grow, driven primarily by increased shipments of cloud computing power supplies, optoelectronics, high-end power supplies for IT applications, and intelligent peripherals. Cloud computing benefits from increased shipments of advanced power management systems. In the optoelectronics sector, demand for visible and invisible LED applications in AI machine vision, wearables, and security markets is expected to drive growth quarter by quarter. The main growth drivers for the IT&CE segment are high-end intelligent peripherals and the accelerated shipment of satellite power products.
Media Contact
Irene Chou +886-2-8798-2888
Corporate Brand Value Development Center