D&L Industries, Inc. (DLNDY) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi everyone, good morning. Welcome to the third quarter briefing of D&L Industries. My name is Krissa and I'm the Investor Relations Manager of D&L Industries and I will be your moderator this morning. To discuss the results, here with us today is Mr. Alvin Lau, President and CEO of D&L Industries. Without further ado, I now turn over the floor to Alvin. Hi everyone, good morning. So we're going to be discussing the nine months and third quarter results of D&L. Okay, so without further ado, let's get started. So we saw in the first nine months of the year, so we saw full nine months earnings are higher by 1% year on year. So to recap, first quarter, we were up by 4%. Second quarter, we were up by 8% or an aggregate of higher by 6% for the first six months of the year. In the third quarter, we were lower. We saw a lower net income, down by 11%. Our exports are doing quite well, and we'll give more details about that in the next couple of slides. Volumes are doing quite well, and we do believe that what we're experiencing now the weakness in earnings is temporary and it's really a lot to do with the new plant that we opened. And going forward, we are still very optimistic about our prospects. Okay, so this slide shows you how income has changed over the last couple of years. And there you see the comparison of first nine months this year versus last year. And in the next slide, you can see the, so what's happening with our Batangas plant. So last quarter, during our briefing, I recall mentioning that it was a surprise for us that the plant had already reported profits. So that was much earlier than expected. We do expect that for the next couple of months, there will still be some months where it might still be profitable, but some months it will not be profitable. So ...