GNI Group Ltd. (2160) has released its consolidated financial results for the fiscal year 2024 (January to December), revealing several significant changes compared to the previous fiscal year.
In terms of consolidated operating results, the company reported a revenue of ¥23,611 million for FY2024, representing a decrease of 9.2% from the previous year. Operating profit also saw a substantial decline, plummeting by 89.3% to ¥1,402 million. The pre-tax profit and profit figures followed a similar trend, dropping by 98.1% and 100%, respectively. The profit attributable to owners of the parent company saw a significant decrease of 87.9% to ¥977 million. Additionally, the comprehensive income for the fiscal year 2024 decreased by 78.7% to ¥2,268 million.
The basic earnings per share for FY2024 were ¥19.55, a substantial decrease from the previous year's figure of ¥169.50. Similarly, the diluted earnings per share saw a significant decline to ¥18.83 from ¥165.56 in FY2023. The ratio of profit for the year to equity attributable to owners of the parent decreased to 2.8% from 29.6% in the previous fiscal year.
Moving on to the consolidated financial position, GNI Group Ltd. reported that total assets increased to ¥69,947 million in FY2024 from ¥64,269 million in FY2023. Total equity also saw a rise, reaching ¥39,673 million in FY2024, compared to ¥36,504 million in the previous fiscal year. The total equity attributable to owners of the parent increased to ¥36,405 million, with the ratio of total equity attributable to owners of the parent slightly decreasing to 52.0%. The total equity attributable to owners of the parent per share also increased to ¥725.87 from ¥678.01 in FY2023.
In terms of consolidated cash flows, the company reported negative cash flows from operating activities amounting to ¥(3,164) million for FY2024, in contrast to positive cash flows of ¥6,549 million in the previous year. Cash and cash equivalents at the end of the period decreased to ¥10,115 million in FY2024 from ¥21,633 million in FY2023.
Regarding dividends, the company did not declare any dividends for FY2023 or FY2024 and has not provided a forecast for dividends in FY2025.
Looking ahead, GNI Group Ltd. provided consolidated earnings forecasts for FY2025. The company anticipates a 21.7% increase in revenue, reaching ¥28,733 million, while expecting a decline in operating profit, pre-tax profit, profit for the year, profit attributable to owners of the parent, and basic earnings per share for the fiscal year 2025.
Today the company's shares have moved 5.2% to a price of $12.6. If you want to know more, read the company's complete 8-K report here.
