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Merida Industry (9914) investor relations material
Merida Industry Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated financial statements for 2025 and 2024 were audited and present fairly in accordance with IFRS and local regulations.
Revenue mainly derives from the manufacture and sale of bicycles, e-bikes, and components, with export sales of e-bikes being significant.
The group completed a major acquisition, increasing its stake in Merida & Centurion from 51% to 90% in 2025.
Financial highlights
2025 sales were NT$26,757 million, down 10% year-over-year from NT$29,633 million.
Net profit for 2025 was NT$1,216 million, a turnaround from a net loss of NT$766 million in 2024.
Gross profit margin decreased to 14% in 2025 from 18% in 2024.
Basic EPS was NT$4.01 in 2025, compared to a loss per share of NT$2.34 in 2024.
Cash and cash equivalents at year-end 2025 were NT$3,577 million.
Outlook and guidance
The board proposed a 2025 cash dividend of NT$2.8 per share, pending shareholder approval.
The group is assessing the impact of new IFRS standards effective from 2026 and 2027.
- Revenue and profit fell year-over-year, with gross margin at 15% and strong liquidity maintained.9914
Q3 20255 Dec 2025 - Q2 2024 saw a 25% revenue drop and 40% lower net income, pressured by FX losses.9914
Q2 20251 Sep 2025 - Revenue up 29% year-over-year in Q1 2025, with net profit and EPS both increasing.9914
Q1 20258 Aug 2025 - Revenue up 6% but net profit down 14% as higher costs and associate losses weighed on results.9914
Q3 202413 Jun 2025 - First-half 2024 revenue fell 4% and net profit dropped 13%, but gross margin rose to 20%.9914
Q2 202413 Jun 2025 - Net loss of NT$699 million in 2024, mainly due to significant losses from associates.9914
Q4 202413 Jun 2025
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