-
Posted by
Two Blokes Apr 28 -
Filed in
Stock
-
5 views
TOKYO , April 28, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today announced its financial results for the second half and fiscal year ended December 2024. FY 2024 Highlights 1.743 GW shipped Revenues increased 184% to $177.0 million compared to $62.4 million in 2023 Gross profit margin of 12.4% compared to 26.7% in 2023 Net income of $40.9 million in 2024 compared to $9.9 million in 2023 2H2024 Highlights 758 MW shipped Revenues were $38.9 million compared to $62.4 million for the same period in the prior year Gross profit margin of -12.2% compared to 26.7% for the same period in the prior year Net income of $21.3 million compared to net income of $11.8 million for the same period in the prior year Outlook for 2025 Solar cell shipments are expected to reach 3.5 GW, fuelled by robust demand and new capacity from the Company's manufacturing facility in Ethiopia.
