The demand from Japanese brands was robust, SAI Reported 1H24 Accumulated Monthly Revenue of NT$3.83 Billion with Year-Over-Year Growth Rate of 3.05%
2024/07/09, Yunlin, Taiwan
Global automotive wheel industry leader SuperAlloy Industrial Co., Ltd. (SAI, 1563 TT) reported its June, 2024, monthly consolidated revenue of NT$ 606 million (-6.4% MoM and -9.6% YoY). 2Q24 consolidated revenue is NT$ 1.87 billion (-4.2% QoQ and -2.6% YoY). The consolidated revenue for January to June 2024 is NT$3.83 billion, an increase of 3.05% from the same period last year’s NT$3.72 billion.
SAI indicated that during 1H24, operations benefited from strong order shipments from brands such as Toyota, JLR, Porsche, BMW and Ferrari. Particularly robust was the demand from Japanese brands, with performance showing a significant 83% increase compared to the same period last year. While shipments from European brands saw a slight annual increase, the performance from American brands slowed down. This steady performance contributed to SAI’s Yunlin and Pingtung plants maintaining a stable capacity utilization rate.
According to TechSci Research’s report “Global Luxury Car Market 2028,” the global luxury car market was valued at approximately US$450 billion in 2022, with a projected strong growth at a CAGR of 5.78% from 2023 to 2028. As global focus on ESG sustainable development and environmental awareness increases, luxury car brands have incorporated hybrid, electric, and new energy vehicles into their product planning. This structural shift not only aligns with global initiatives for greener transportation choices but also attracts consumers who value eco-friendly luxury. Furthermore, the rise of the middle class in emerging markets such as China, India and Brazil, along with accelerated urbanization, continues to drive robust expansion in the global luxury car market, presenting business growth opportunities for SAI.
Looking ahead to 2H24, SAI is highly confident in its overall operational growth. Based on the current visible orders on hand, SAI anticipates that with the steady pull from major brand manufacturers, overall shipment volumes in the second half of the year are expected to outperform the first half of the year, there is a chance to maintain positive annual revenue growth. Additionally, SAI recently secured orders for a minor update to the Lamborghini Urus plug-in hybrid model and is engaged in collaborative development and design with the key client. According to expected progress and schedule planning, this project is slated to enter production scheduling in the Q326. Lamborghini, renowned for its luxury car brand, particularly with the Urus model being the world’s first super sport utility vehicle blending supercar performance with SUV practicality, signifies SAI’s further breakthrough and recognition in the high-end automobile market. This underscores SAI’s deep-rooted presence and strategic positioning in this segment, poised to drive significant momentum for the company’s long-term operational growth.
<Appendix> Monthly Consolidated Revenue Unit: NT$ thousand
2024 | 2023 | YoY (%) | |
June, 2024 | 605,853 | 670,298 | -9.61 |
2Q24 | 1,873,254 | 1,924,046 | -2.64 |
Jan – June 2024 | 3,827,694 | 3,714,520 | 3.05 |
Note: Consolidated revenue are unaudited numbers.