The company said net sales for Q4 2023 were $1,009 million, down 32.9% from $1,503 million a year earlier, and that net income was $17 million and diluted earnings per share were $0.31.

1. 01

   The company said net sales for Q4 2023 were $1,009 million, down 32.9% from $1,503 million a year earlier, and that net income was $17 million and diluted earnings per share were $0.31.

2. 02

   The company said Adjusted EBITDA for Q4 fell 54.1% from a year earlier to $155 million, from $338 million, and that the Adjusted EBITDA margin was 15.4%, below 22.5% a year earlier.

3. 03

   The company said net cash used in operating activities for the full year 2023 was $4 million, capital expenditures were $87 million, resulting in negative free cash flow of $91 million, and share repurchases totaled $52 million.

4. 04

   The company said the net annualized cost savings from its Exit and Restructuring plans rose to about $120 million from the previously expected $100 million, and that it expects about $60 million of incremental savings in 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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