CSBC (2208) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2025 was NT$17.94 billion, up from NT$11.24 billion year-over-year, driven by shipbuilding and machinery segments.

• Net loss for the nine months ended September 30, 2025 was NT$2.47 billion, compared to a net loss of NT$1.26 billion for the same period last year.

• Gross margin remained negative, with a net operating loss of NT$2.67 billion for the nine months, reflecting ongoing cost pressures.

• Significant capital increases were completed in early 2024 to strengthen the financial structure and repay bank loans.

Financial highlights

• Sales revenue for Q3 2025 was NT$4.10 billion, up from NT$3.55 billion in Q3 2024.

• Operating loss for the nine months ended September 30, 2025 was NT$2.67 billion, compared to NT$1.72 billion loss year-over-year.

• Basic loss per share for the nine months was NT$1.94, compared to NT$1.00 loss per share in the prior year.

• Cash and cash equivalents decreased to NT$2.78 billion as of September 30, 2025, from NT$3.89 billion a year earlier.

• Gearing ratio increased to 84% as of September 30, 2025, up from 70% a year earlier.

Outlook and guidance

• Unfulfilled contract obligations reached NT$132.2 billion as of September 30, 2025, with major shipbuilding and EPC projects expected to be completed through 2031.

• Management continues to focus on capital structure optimization and cost control to address ongoing losses.