Innolux Corp. swung to an annual profit in 2024, ending two consecutive years of losses and beating rival AUO to profitability as panel prices continued their upward trajectory.
The Taiwanese display manufacturer reported NT$9.1 billion ($284 million) in net income for the fourth quarter, more than 20 times the previous quarter’s figure. This helped drive full-year profit to NT$6.7 billion, with earnings per share of NT$0.76.
In a move to reward shareholders following the turnaround, Innolux’s board approved a dividend of NT$1 per share, its first payout in two years. The dividend represents a yield of approximately 6.8% based on Wednesday’s closing price.
The company attributed its performance to improved market conditions, including Chinese government consumption subsidies and North American tariff effects, which encouraged customers to increase orders and pushed up TV and IT panel prices.
Looking ahead, Innolux expects first-quarter large panel shipments to decrease by less than 3%, while average selling prices could rise by up to 3%. The company also projects small and medium panel shipments to increase approximately 3% quarter-on-quarter.
The fourth-quarter results were boosted by Innolux’s sale of its Tainan Science Park Plant 4 to TSMC.
