Delta Electronics (2308) Q2 2025 earnings summary

Executive summary

• Q2 revenue reached NT$124 billion, a record high, up 20% year-on-year and 4% sequentially, with first half revenue at NT$242.9 billion, up 24.8% year-on-year.

• Gross profit rose 25% year-on-year in Q2 to NT$44 billion, with first half gross profit at NT$81,837 million and gross margin improving to 35.5%.

• Net profit after tax for Q2 was NT$13.9 billion, up 40% year-on-year and 36% quarter-over-quarter; first half net profit was NT$24.2 billion, up 54% year-on-year.

• Q2 EPS reached NT$5.37, a new high, with first half EPS at NT$9.31, up 54% year-on-year.

• All financials prepared under IFRS and reviewed by CPA.

Financial highlights

• Q2 EBITDA was NT$26.8 billion, up 24% year-on-year and 17% quarter-on-quarter; EBITDA margin 21.6%.

• Q2 pre-tax profit was NT$19.6 billion, up 30% year-on-year and 25% quarter-on-quarter.

• Q2 non-operating profit dropped to NT$900 million, mainly due to FX losses and minority investments; non-operating losses from investments recorded in Q2 and 1H25.

• Cash and cash equivalents as of June 30, 2025, were NT$139,528 million, with total assets at NT$546,419 million and total equity of NT$260,898 million.

• Dividends of NT$7.00 per share were declared for 2024 earnings.

Outlook and guidance

• Second half of the year is expected to outperform the first half if conditions remain stable.

• Long-term plans focus on data center-related business, innovative energy-efficient solutions, and continued investment in R&D and capacity expansion.

• Plans to acquire land and buildings in Taoyuan City for NT$6.95 billion and expand production capacity in Thailand with a US$201 million investment.

• No significant turbulence expected in the second half for AI-related business.