Advantech Co. reported record profits for 2024, with net income surging to NT$1.04 billion ($33 million), driven by strong demand for its AI chip module testing platforms and retail automation solutions.
The Taiwan-based industrial computer manufacturer saw its earnings per share more than double to NT$12.55 from NT$5.55 a year earlier. Revenue jumped 40.8% to NT$13.89 billion, according to a board meeting statement Wednesday. The company plans to distribute a dividend of NT$7.77 per share, representing a payout ratio of about 61.9%.
Advantech’s gross margin reached a record 44.98% as high-margin products, including system brands, medical devices, and smart equipment, accounted for nearly 70% of group revenue. AI-related applications contributed about half of total sales.
The company’s Embedded Foundry unit, which produces testing platforms for next-generation AI chips, saw revenue surge 59.6% year-on-year. Meanwhile, its Online-to-Offline Solutions segment posted a 12% growth as downstream market demand gradually recovered.
Americas and Europe drove most of the company’s growth, while Asia revenue remained flat.
Looking ahead, Advantech expects its self-checkout kiosks and self-ordering systems launched at retail trade shows NRF and EuroCIS to gain traction. The company also anticipates volume growth in Europe and the US from its Buy-Online-Return-In-Store solutions developed with a global e-commerce leader.
