UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
July 25, 2024
| Commission File Number 001-16125 |
| |
|
| ASE Technology Holding Co., Ltd. |
| (Translation of registrant’s name into English) |
| |
|
|
26, Chin 3rd Road
Kaohsiung, Taiwan
Republic of China |
| (Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| |
ASE TECHNOLOGY HOLDING CO., LTD. |
| |
|
| |
|
| Date: July 25,
2024
|
By: |
/s/ Joseph Tung |
| |
|
Name: Joseph Tung |
| |
|
Title: Chief Financial Officer |
Investor Relations
Contact
ir@aseglobal.com
Tel:
+886.2.6636.5678
https://www.aseglobal.com
ASE Technology Holding Co., Ltd. Reports Its
Unaudited Consolidated Financial
Results for the Second Quarter of 2024
Taipei,
July 25, 2024 – ASE Technology Holding Co., Ltd. (TWSE:
3711, NYSE: ASX) (“We”, “ASEH”, or the “Company”), the
leading provider of semiconductor assembly and testing services (“ATM”) and the provider of electronic manufacturing services
(“EMS”), today reported its unaudited net revenues1 of NT$140,238 million
for 2Q24, up by 2.9% year-over-year and up by 5.6% sequentially. Net income attributable to shareholders of the parent for the quarter
totaled NT$7,783 million, up from NT$7,740 million in 2Q23 and up from NT$5,682 million in 1Q24. Basic earnings per share for the quarter
were NT$1.80 (or US$0.112 per ADS), compared to NT$1.80 for 2Q23 and NT$1.32 for 1Q24. Diluted earnings per share for the quarter were
NT$1.75 (or US$0.109 per ADS), compared to NT$1.76 for 2Q23 and NT$1.28 for 1Q24.
RESULTS OF OPERATIONS
2Q24
Results Highlights – Consolidated
| · | Net
revenues from packaging operations, testing operations, EMS operations, and others represented approximately 45%, 9%, 45%, and 1% of the
total net revenues for the quarter, respectively. |
| · | Cost
of revenues was NT$117,172 million for the quarter, up from NT$111,935 million in 1Q24. |
| - | Raw material cost totaled NT$70,387million
for the quarter, representing 50% of the total net revenues. |
| - | Labor cost totaled NT$15,673
million for the quarter, representing 11% of the total net revenues. |
| - | Depreciation, amortization and
rental expenses totaled NT$13,406 million for the quarter. |
| · | Gross margin increased by 0.7 percentage points
to 16.4% in 2Q24 from 15.7% in 1Q24. |
| · | Operating margin was 6.4% in 2Q24, compared to
5.7% in 1Q24. |
| · | In terms of non-operating items: |
| - | Net interest expense was NT$1,158
million. |
| - | Net foreign exchange loss was
NT$1,420 million, primarily attributable to the appreciation of the U.S. dollar against the New Taiwan dollar. |
1
All financial information presented in this press release is
unaudited, consolidated and prepared in accordance with Taiwan-IFRS (International Financial Reporting Standards as endorsed for use in
the R.O.C.). Such financial information is generated internally by us and has not been subjected to the same review and scrutiny, including
internal auditing procedures and audit by our independent auditors, to which we subject our year-end audited consolidated financial statements,
and may vary materially from the year-end audited consolidated financial information for the same period. Any evaluation of the financial
information presented in this press release should also take into account our published year-end audited consolidated financial statements
and the notes to those statements. In addition, the financial information presented is not necessarily indicative of our results of operations
for any future period.
| - | Net gain on valuation of financial
assets and liabilities was NT$2,664 million. |
| - | Net gain on equity-method investments was NT$459 million. |
| - | Other net non-operating income was NT$551 million, primarily attributable to miscellaneous income. |
Total non-operating income and expenses
for the quarter was NT$1,096 million.
| · | Income before tax was NT$10,117 million in 2Q24,
compared to NT$7,860 million in 1Q24. We recorded income tax expenses of NT$1,952 million for the quarter, compared to NT$1,904 million
in 1Q24. |
| · | Net
income attributable to shareholders of the parent was NT$7,783
million in 2Q24, compared to NT$7,740 million in 2Q23 and NT$5,682 million in 1Q24. |
| · | Our
total number of shares outstanding at the end of the quarter was 4,390,178,137, including treasury stock owned by our subsidiaries in
2Q24. Our 2Q24 basic earnings per share of NT$1.80 (or US$0.112 per ADS) were based on 4,317,151,632 weighted average numbers of shares
outstanding in 2Q24. Our 2Q24 diluted earnings per share of NT$1.75 (or US$0.109 per ADS) were based on 4,383,324,817 weighted average
number of shares outstanding in 2Q24. |
2Q24
Results Highlights – ATM
| · | Net
revenues were NT$77,813 million for the quarter, up by 2.2% year-over-year and up by 5.3% sequentially. |
| · | Cost
of revenues was NT$60,612 million for the quarter, up by 1.1% year-over-year and up by 3.9% sequentially. |
| - | Raw material cost totaled NT$21,236
million for the quarter, representing 27% of the total net revenues. |
| - | Labor cost totaled NT$12,437
million for the quarter, representing 16% of the total net revenues. |
| - | Depreciation, amortization and
rental expenses totaled NT$11,934 million for the quarter. |
| · | Gross margin increased by 1.1 percentage points
to 22.1% in 2Q24 from 21.0% in 1Q24. |
| · | Operating
margin was 9.3% in 2Q24, compared to 8.2% in 1Q24. |
2Q24
Results Highlights – EMS
| · | Net
revenues were NT$62,907 million, up by 4.1% year-over-year and up by 6.0% sequentially. |
| · | Cost
of revenues for the quarter was NT$56,870 million, up by 3.8% year-over-year and up by 5.6% sequentially. |
| - | Raw material cost totaled NT$49,075
million for the quarter, representing 78% of the total net revenues. |
| - | Labor cost totaled NT$3,121 million
for the quarter, representing 5% of the total net revenues. |
| - | Depreciation, amortization and
rental expenses totaled NT$1,204 million for the quarter. |
| · | Gross margin increased by 0.3 percentage points
to 9.6% in 2Q24 from 9.3% in 1Q24. |
| · | Operating margin was 3.1% in 2Q24, compared to
2.8% in 1Q24. |
LIQUIdiTY AND CAPITAL
RESOURCES
| · | Capital
expenditures in 2Q24 totaled US$406 million, of which US$215 million was used in packaging operations, US$154 million in testing operations,
US$31 million in EMS operations and US$6 million in interconnect materials operations and others. |
| · | Total
unused credit lines amounted to NT$416,979 million as of June 30, 2024. |
| · | Current
ratio was 1.17 and net debt to equity ratio was 0.34 as of June 30, 2024. |
| · | Total
number of employees was 92,243 as of June 30, 2024, compared to 91,568 as of March 31, 2024. |
Business Review
Customers
ATM Basis
| · | Our
five largest customers together accounted for approximately 45% of our total net revenues in 2Q24, compared to 46% in 1Q24. Two customers
each accounted for more than 10% of our total net revenues in 2Q24 individually. |
| · | Our
top 10 customers contributed 60% of our total net revenues in 2Q24, compared to 61% in 1Q24. |
| · | Our
customers that are integrated device manufacturers or IDMs accounted for 30% of our total net revenues in both 2Q24 and 1Q24. |
EMS Basis
| · | Our
five largest customers together accounted for approximately 67% of our total net revenues in both 2Q24 and 1Q24. One customer accounted
for more than 10% of our total net revenues in 2Q24. |
| · | Our
top 10 customers contributed 74% of our total net revenues in 2Q24, compared to 75% in 1Q24. |
About
ASE Technology Holding Co., Ltd.
ASEH is the leading provider of semiconductor
manufacturing services in assembly and test. The Company develops and offers complete turnkey solutions covering front-end engineering
test, wafer probing and final test, as well as packaging, materials and electronic manufacturing services through USI with superior technologies,
breakthrough innovations, and advanced development programs. With advanced technological capabilities
and a global presence spanning Taiwan, China, South Korea, Japan, Singapore, Malaysia, Vietnam, Mexico, and Tunisia as well as the United
States and Europe, ASEH has established a reputation for reliable, high quality products and services.
For more information, please visit our
website at https://www.aseglobal.com.
Safe Harbor Notice
This press release contains "forward-looking
statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United
States Securities Exchange Act of 1934, as amended. These statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Although these forward-looking statements, which may include statements regarding our
future results of operations, financial condition or business prospects, are based on our own information and information from other sources
we believe to be reliable, you should not place undue reliance on these forward-looking statements, which apply only as of the date of
this press release. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“plan”
and similar expressions, as they relate to us, are intended to identify these forward-looking statements in this press
release. These forward-looking statements are necessarily estimates reflecting the best judgment of our senior management and our actual
results of operations, financial condition or business prospects may differ materially from those expressed or implied by the forward-looking
statements for reasons including, among others, risks associated with cyclicality and market conditions in the semiconductor or electronic
industry; changes in our regulatory environment, including our ability to comply with new or stricter environmental regulations and to
resolve environmental liabilities; demand for the outsourced semiconductor packaging, testing and electronic manufacturing services we
offer and for such outsourced services generally; the highly competitive semiconductor or manufacturing industry we are involved in; our
ability to introduce new technologies in order to remain competitive; international business activities; our business strategy; our future
expansion plans and capital expenditures; the strained relationship between the Republic of China and the People’s Republic of China;
general economic and political conditions; the recent shift in United States trade policies; possible disruptions in commercial activities
caused by natural or human-induced disasters; fluctuations in foreign currency exchange rates; and other factors. For a discussion of
these risks and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including
the 2023 Annual Report on Form 20-F filed on April 3, 2024.
Supplemental
Financial Information
(Unaudited)
Consolidated
Operations
| |
2Q24 |
1Q24 |
2Q23 |
| EBITDA2
(NT$ million) |
26,127 |
23,974 |
25,770 |
ATM
Operations
| |
2Q24 |
1Q24 |
2Q23 |
| Net Revenues (NT$ million) |
77,813 |
73,908 |
76,108 |
| Revenues
by Application |
|
|
|
| Communication |
49% |
52% |
48% |
| Computing |
19% |
18% |
19% |
| Automotive, Consumer & Others |
32% |
30% |
33% |
| Revenues
by Type |
|
|
|
| Bumping, Flip Chip, WLP & SiP |
44% |
43% |
41% |
| Wirebonding |
31% |
30% |
34% |
| Others |
7% |
9% |
7% |
| Testing |
16% |
16% |
16% |
| Material |
2% |
2% |
2% |
| Capacity
& EBITDA2 |
|
|
|
| CapEx
(US$ million)3 |
374 |
206 |
176 |
| EBITDA (NT$ million)2 |
22,205 |
20,422 |
21,643 |
| Number of Wirebonders |
25,154 |
25,406 |
25,880 |
| Number of Testers |
5,676 |
5,611 |
5,495 |
EMS
Operations
| |
2Q24 |
1Q24 |
2Q23 |
| Net Revenues (NT$ million) |
62,907 |
59,365 |
60,424 |
| Revenues
by Application |
|
|
|
| Communication |
33% |
34% |
34% |
| Computing |
11% |
12% |
8% |
| Consumer |
29% |
27% |
33% |
| Industrial |
13% |
12% |
15% |
| Automotive |
11% |
12% |
8% |
| Others |
3% |
3% |
2% |
| Capacity |
|
|
|
| CapEx (US$ million)3 |
31 |
21 |
33 |
2
EBITDA stands for net income or loss before interest, taxes,
depreciation, amortization, impairment and investment gain or loss as well as other items.
3
Capital expenditure excludes building construction costs.
ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Income
Data
(In NT$ million, except per share data)
(Unaudited)
| | |
For the three months
ended | |
For the six months ended |
| | |
Jun. 30
2024 | |
Mar. 31
2024 | |
Jun. 30
2023 | |
Jun. 30
2024 | |
Jun. 30
2023 |
| Net revenues | |
| |
| |
| |
| |
|
| Packaging | |
| 62,834 | | |
| 59,458 | | |
| 61,846 | | |
| 122,292 | | |
| 121,875 | |
| Testing | |
| 12,623 | | |
| 12,102 | | |
| 12,292 | | |
| 24,725 | | |
| 23,699 | |
| EMS | |
| 62,853 | | |
| 59,326 | | |
| 60,384 | | |
| 122,179 | | |
| 118,115 | |
| Others | |
| 1,928 | | |
| 1,917 | | |
| 1,753 | | |
| 3,845 | | |
| 3,477 | |
| Total net revenues | |
| 140,238 | | |
| 132,803 | | |
| 136,275 | | |
| 273,041 | | |
| 267,166 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues | |
| (117,172 | ) | |
| (111,935 | ) | |
| (114,534 | ) | |
| (229,107 | ) | |
| (226,086 | ) |
| Gross profit | |
| 23,066 | | |
| 20,868 | | |
| 21,741 | | |
| 43,934 | | |
| 41,080 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Operating expenses | |
| | | |
| | | |
| | | |
| | | |
| | |
| Research and development | |
| (7,106 | ) | |
| (6,609 | ) | |
| (6,218 | ) | |
| (13,715 | ) | |
| (11,790 | ) |
| Selling, general and administrative | |
| (6,939 | ) | |
| (6,734 | ) | |
| (6,111 | ) | |
| (13,673 | ) | |
| (12,183 | ) |
| Total operating expenses | |
| (14,045 | ) | |
| (13,343 | ) | |
| (12,329 | ) | |
| (27,388 | ) | |
| (23,973 | ) |
| Operating income | |
| 9,021 | | |
| 7,525 | | |
| 9,412 | | |
| 16,546 | | |
| 17,107 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net non-operating income and expenses | |
| | | |
| | | |
| | | |
| | | |
| | |
| Interest expense - net | |
| (1,158 | ) | |
| (1,107 | ) | |
| (1,100 | ) | |
| (2,265 | ) | |
| (2,176 | ) |
| Foreign exchange loss - net | |
| (1,420 | ) | |
| (3,219 | ) | |
| (1,188 | ) | |
| (4,639 | ) | |
| (643 | ) |
Gain on valuation of financial
assets and
liabilities - net | |
| 2,664 | | |
| 4,098 | | |
| 1,914 | | |
| 6,762 | | |
| 2,017 | |
| Gain on equity-method investments
- net | |
| 459 | | |
| 57 | | |
| 326 | | |
| 516 | | |
| 314 | |
| Others - net | |
| 551 | | |
| 506 | | |
| 747 | | |
| 1,057 | | |
| 1,362 | |
| Total non-operating income and expenses | |
| 1,096 | | |
| 335 | | |
| 699 | | |
| 1,431 | | |
| 874 | |
| Income before tax | |
| 10,117 | | |
| 7,860 | | |
| 10,111 | | |
| 17,977 | | |
| 17,981 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Income tax expense | |
| (1,952 | ) | |
| (1,904 | ) | |
| (1,914 | ) | |
| (3,856 | ) | |
| (3,691 | ) |
Income from operations and before
non-controlling interests | |
| 8,165 | | |
| 5,956 | | |
| 8,197 | | |
| 14,121 | | |
| 14,290 | |
| Non-controlling interests | |
| (382 | ) | |
| (274 | ) | |
| (457 | ) | |
| (656 | ) | |
| (733 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
Net income
attributable to shareholders of
the parent | |
| 7,783 | | |
| 5,682 | | |
| 7,740 | | |
| 13,465 | | |
| 13,557 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Per share data: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Earnings per share | |
| | | |
| | | |
| | | |
| | | |
| | |
| – Basic | |
| NT$1.80 | | |
| NT$1.32 | | |
| NT$1.80 | | |
| NT$3.12 | | |
| NT$3.16 | |
| – Diluted | |
| NT$1.75 | | |
| NT$1.28 | | |
| NT$1.76 | | |
| NT$3.02 | | |
| NT$3.07 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Earnings per equivalent ADS | |
| | | |
| | | |
| | | |
| | | |
| | |
| – Basic | |
| US$0.112 | | |
| US$0.084 | | |
| US$0.118 | | |
| US$0.196 | | |
| US$0.207 | |
| – Diluted | |
| US$0.109 | | |
| US$0.082 | | |
| US$0.115 | | |
| US$0.190 | | |
| US$0.202 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
Number of weighted average shares
used in
diluted EPS calculation ( in thousand shares) | |
| 4,383,325 | | |
| 4,368,340 | | |
| 4,342,948 | | |
| 4,376,301 | | |
| 4,341,706 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| FX (NTD/USD) | |
| 32.23 | | |
| 31.30 | | |
| 30.57 | | |
| 31.77 | | |
| 30.49 | |
ASE Technology Holding Co., Ltd.
Summary of ATM Statement of Income Data
(In NT$ million)
(Unaudited)
| | |
For the three months ended | |
For the six months ended |
| | |
Jun. 30
2024 | |
Mar. 31
2024 | |
Jun. 30
2023 | |
Jun. 30
2024 | |
Jun. 30
2023 |
| Net revenues: | |
| |
| |
| |
| |
|
| Packaging | |
| 63,838 | | |
| 60,388 | | |
| 62,607 | | |
| 124,226 | | |
| 123,377 | |
| Testing | |
| 12,623 | | |
| 12,102 | | |
| 12,292 | | |
| 24,725 | | |
| 23,699 | |
| Direct Material | |
| 1,264 | | |
| 1,338 | | |
| 1,165 | | |
| 2,602 | | |
| 2,271 | |
| Others | |
| 88 | | |
| 80 | | |
| 44 | | |
| 168 | | |
| 80 | |
| Total net revenues | |
| 77,813 | | |
| 73,908 | | |
| 76,108 | | |
| 151,721 | | |
| 149,427 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues | |
| (60,612 | ) | |
| (58,351 | ) | |
| (59,947 | ) | |
| (118,963 | ) | |
| (118,517 | ) |
| Gross profit | |
| 17,201 | | |
| 15,557 | | |
| 16,161 | | |
| 32,758 | | |
| 30,910 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Research and development | |
| (5,483 | ) | |
| (5,135 | ) | |
| (4,748 | ) | |
| (10,618 | ) | |
| (9,017 | ) |
| Selling, general and administrative | |
| (4,464 | ) | |
| (4,345 | ) | |
| (4,008 | ) | |
| (8,809 | ) | |
| (8,079 | ) |
| Total operating expenses | |
| (9,947 | ) | |
| (9,480 | ) | |
| (8,756 | ) | |
| (19,427 | ) | |
| (17,096 | ) |
| Operating income | |
| 7,254 | | |
| 6,077 | | |
| 7,405 | | |
| 13,331 | | |
| 13,814 | |
ASE Technology Holding Co., Ltd.
Summary of EMS Statement of Income Data
(In NT$ million)
(Unaudited)
| | |
For the three months ended | |
For the six months ended |
| | |
Jun. 30
2024 | |
Mar. 31
2024 | |
Jun. 30
2023 | |
Jun. 30
2024 | |
Jun. 30
2023 |
| Net revenues | |
| |
| |
| |
| |
|
| Total net revenues | |
| 62,907 | | |
| 59,365 | | |
| 60,424 | | |
| 122,272 | | |
| 118,157 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues | |
| (56,870 | ) | |
| (53,866 | ) | |
| (54,785 | ) | |
| (110,736 | ) | |
| (107,951 | ) |
| Gross profit | |
| 6,037 | | |
| 5,499 | | |
| 5,639 | | |
| 11,536 | | |
| 10,206 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Operating expenses | |
| | | |
| | | |
| | | |
| | | |
| | |
| Research and development | |
| (1,668 | ) | |
| (1,533 | ) | |
| (1,527 | ) | |
| (3,201 | ) | |
| (2,851 | ) |
| Selling, general and administrative | |
| (2,414 | ) | |
| (2,309 | ) | |
| (2,023 | ) | |
| (4,723 | ) | |
| (3,941 | ) |
| Total operating expenses | |
| (4,082 | ) | |
| (3,842 | ) | |
| (3,550 | ) | |
| (7,924 | ) | |
| (6,792 | ) |
| Operating income | |
| 1,955 | | |
| 1,657 | | |
| 2,089 | | |
| 3,612 | | |
| 3,414 | |
ASE Technology
Holding Co., Ltd.
Summary of Consolidated Balance Sheet Data
(In NT$ million)
(Unaudited)
| | |
As of Jun. 30, 2024 | |
As of Mar. 31, 2024 |
| Current assets | |
| |
|
| Cash and cash equivalents | |
| 66,173 | | |
| 75,105 | |
| Financial assets – current | |
| 9,162 | | |
| 8,410 | |
| Trade receivables | |
| 102,354 | | |
| 97,264 | |
| Inventories | |
| 63,488 | | |
| 63,259 | |
| Others | |
| 29,148 | | |
| 28,964 | |
| Total current assets | |
| 270,325 | | |
| 273,002 | |
| | |
| | | |
| | |
Financial assets – non-current & Investments – equity -
method | |
| 30,887 | | |
| 30,776 | |
| Property, plant and equipment | |
| 271,835 | | |
| 265,592 | |
| Right-of-use assets | |
| 11,292 | | |
| 11,534 | |
| Intangible assets | |
| 68,300 | | |
| 68,986 | |
| Others | |
| 30,291 | | |
| 31,580 | |
| Total assets | |
| 682,930 | | |
| 681,470 | |
| | |
| | | |
| | |
| Current liabilities | |
| | | |
| | |
| Short-term borrowings4 | |
| 51,065 | | |
| 56,863 | |
Current portion of bonds payable & Current portion of
long-term borrowings | |
| 18,655 | | |
| 14,075 | |
| Trade payables | |
| 70,906 | | |
| 66,454 | |
| Others | |
| 89,494 | | |
| 91,651 | |
| Total current liabilities | |
| 230,120 | | |
| 229,043 | |
| | |
| | | |
| | |
| Bonds payable | |
| 21,976 | | |
| 31,618 | |
| Long-term borrowings | |
| 84,414 | | |
| 84,589 | |
| Other liabilities | |
| 22,950 | | |
| 24,051 | |
| Total liabilities | |
| 359,460 | | |
| 369,301 | |
| | |
| | | |
| | |
| Equity attributable to shareholders of the parent | |
| 302,348 | | |
| 290,996 | |
| Non-controlling interests | |
| 21,122 | | |
| 21,173 | |
| Total liabilities & shareholders’ equity | |
| 682,930 | | |
| 681,470 | |
| | |
| | | |
| | |
| | |
| | | |
| | |
| Current ratio | |
| 1.17 | | |
| 1.19 | |
| Net debt to equity ratio | |
| 0.34 | | |
| 0.36 | |
4
Short-term borrowings include short-term loans and bills payable.
ASE Technology Holding Co., Ltd.
Summary of Consolidated Statement of Cash
Flow Data
(In NT$ million)
(Unaudited)
| | |
For the three months
ended | |
For the six months ended |
| | |
Jun. 30
2024 | |
Mar. 31
2024 | |
Jun. 30
2023 | |
Jun. 30
2024 | |
Jun. 30
2023 |
| Cash Flows from Operating Activities: | |
| |
| |
| |
| |
|
| Profit before income tax | |
| 10,117 | | |
| 7,860 | | |
| 10,111 | | |
| 17,977 | | |
| 17,981 | |
| Depreciation & amortization | |
| 14,801 | | |
| 14,586 | | |
| 14,488 | | |
| 29,387 | | |
| 28,927 | |
| Other operating activities items | |
| (8,132 | ) | |
| (5,752 | ) | |
| (8,643 | ) | |
| (13,884 | ) | |
| (194 | ) |
Net cash
generated from operating
activities | |
| 16,786 | | |
| 16,694 | | |
| 15,956 | | |
| 33,480 | | |
| 46,714 | |
| Cash Flows from Investing Activities: | |
| | | |
| | | |
| | | |
| | | |
| | |
Net payments for property, plant
and
equipment | |
| (14,786 | ) | |
| (12,513 | ) | |
| (12,146 | ) | |
| (27,299 | ) | |
| (27,353 | ) |
| Other investment
activities items | |
| 304 | | |
| (2,995 | ) | |
| (2,285 | ) | |
| (2,691 | ) | |
| (1,870 | ) |
| Net cash
used in investing activities | |
| (14,482 | ) | |
| (15,508 | ) | |
| (14,431 | ) | |
| (29,990 | ) | |
| (29,223 | ) |
| Cash Flows from Financing Activities: | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total net repayment of borrowings | |
| (12,322 | ) | |
| (139 | ) | |
| (3,395 | ) | |
| (12,461 | ) | |
| (15,016 | ) |
| Other financing activities items | |
| (1,093 | ) | |
| (33 | ) | |
| (1,056 | ) | |
| (1,126 | ) | |
| (939 | ) |
| Net cash used
in financing activities | |
| (13,415 | ) | |
| (172 | ) | |
| (4,451 | ) | |
| (13,587 | ) | |
| (15,955 | ) |
| Foreign currency
exchange effect | |
| 2,179 | | |
| 6,807 | | |
| 481 | | |
| 8,986 | | |
| 35 | |
Net increase
(decrease) in cash and cash
equivalents | |
| (8,932 | ) | |
| 7,821 | | |
| (2,445 | ) | |
| (1,111 | ) | |
| 1,571 | |
Cash and cash
equivalents at the
beginning of period | |
| 75,105 | | |
| 67,284 | | |
| 62,056 | | |
| 67,284 | | |
| 58,040 | |
Cash and cash
equivalents at the end of
period | |
| 66,173 | | |
| 75,105 | | |
| 59,611 | | |
| 66,173 | | |
| 59,611 | |
Cash and cash
equivalents in the
consolidated balance sheet | |
| 66,173 | | |
| 75,105 | | |
| 59,351 | | |
| 66,173 | | |
| 59,351 | |
Cash and cash
equivalents included in
disposal groups held for sale | |
| - | | |
| - | | |
| 260 | | |
| - | | |
| 260 | |
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