HANA Reports 17% Increase in 1Q24 Net Profit despite a Slide in Sales

Hana Microelectronics Public Company Limited (SET: HANA) has announced 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q24 1Q23
Net Profit (Loss)

Million Baht

313.20 266.49
Earning Per Share


0.3500 0.3300
% Change 17.53


HANA reported a net profit in 1Q24 of THB 313 million, an increase of 17% or THB 47 million compared to the same period last year, due to weaker exchange rate.

Sales Revenue decreased by 1% year on year to THB 6,371 million for the first quarter of 2024 from THB 6,466 million for the first quarter 2023. Sales Revenue in USD terms decreased by 6% to USD 179 million in 1Q24 from USD 191 million in 1Q23.

Year-on-year, in USD terms, the microelectronics divisions sales increased by 1%. Sales in Lamphun decreased -0.3% and Jiaxing increased by 6% year on year. The IC divisions sales revenues decreased -19% in 1Q24, with revenues of the IC division in Ayutthaya decreasing -15% and Jiaxing decreasing by -52%. Hana Technologies Inc. ‘HTI’ the Microdisplay/RFID operation in Ohio sales revenue increased 13% in 1Q24 from 1Q23.

The Gross Profit margin increased 2% points to 11% in 1Q24 from 9% 1Q23. Gross Margin in 1Q24 increased due to weaker THB/USD exchange rate and increased profits at the Thailand and US operations.