Syncmold Enterprise, a prominent bearing manufacturer, announced impressive first quarter financial results today following a board meeting. The company recorded a consolidated operating income of NT$2.147 billion for the quarter, marking a 17.3% increase year-over-year, despite the seasonal industry slowdown and fewer working days.
The company’s strategic focus on improving product mix and production processes, coupled with effective material cost control and the recognition of mold revenue, led to a gross profit of NT$628 million. This figure translates to a gross profit margin of approximately 29.2%, up from 25.4% in the previous quarter and a significant 12.2 percentage points increase from 17% in the same period last year.
Operating profit for the quarter stood at approximately NT$297 million, with an operating profit rate of 13.8%, which is a substantial rise of 11.6 percentage points from 2.2% last year. Additionally, non-operating income, boosted by currency exchange gains due to the appreciation of the US dollar, contributed an additional NT$90 million.
Syncmold Enterprise’s pre-tax net profit for the first quarter was approximately NT$387 million, with an after-tax net profit attributable to the parent company at about NT$244 million, reflecting a staggering 552.2% increase compared to last year. The after-tax earnings per share (EPS) was reported at approximately NT$1.73, significantly higher than the NT$0.30 recorded in the same period last year.
Looking ahead, Syncmold Enterprise remains optimistic about the second quarter, anticipating an increase in shipment performance across various product lines. Industry forecasts suggest that the PC industry will see growth this year, driven by factors such as artificial intelligence integration and personal computer replacement cycles.
In response to rapid market changes, Syncmold Enterprise is committed to bolstering its competitiveness through continuous innovation and research and development. The company plans to expand its business reach by deploying new product applications and diversifying customer categories, aiming to sustain long-term operational growth.
