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Aeon Motor Q4 profit climbs YOY

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Aeon Motor Q4 profit climbs YOY

Aeon Motor Co. Ltd. said its fourth-quarter normalized net income was NT$1.17 per share, an increase from 56 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$72.7 million, a gain from NT$34.8 million in the prior-year period.

The normalized profit margin increased to 10.8% from 4.8% in the year-earlier period.

Total revenue declined 7.1% year over year to NT$675.0 million from NT$726.3 million, and total operating expenses declined 17.9% from the prior-year period to NT$563.8 million from NT$686.6 million.

Reported net income rose year over year to NT$124.0 million, or NT$1.99 per share, from NT$46.9 million, or 75 cents per share.

For the year, the company's normalized net income totaled NT$3.41 per share, an increase from NT$1.01 per share in the prior year.

Normalized net income was NT$212.0 million, a gain from NT$62.7 million in the prior year.

Full-year total revenue grew 14.6% year over year to NT$2.76 billion from NT$2.41 billion, and total operating expenses increased year over year to NT$2.45 billion from NT$2.35 billion.

The company said reported net income rose on an annual basis to NT$308.0 million, or NT$4.95 per share, in the full year, from NT$67.5 million, or NT$1.09 per share.

As of March 30, US$1 was equivalent to NT$32.18.