Delta Electronics (2308) Q3 2025 earnings summary

Executive summary

• Q3 revenue reached NT$150.3 billion, up 34% year-over-year and 21% sequentially, with record highs driven by strong server power, liquid cooling, and infrastructure shipments.

• Gross profit hit NT$52.4 billion, up 34% year-over-year, with gross margin stable at 34.9%.

• Operating profit rose to NT$24.8 billion, a 51% increase year-over-year and 33% sequentially, with operating margin at a record 16.5%.

• Net profit after tax for Q3 was NT$18.6 billion, up 51% year-over-year and 33% from Q2; Q3 EPS reached NT$7.16, a new high.

• For the first three quarters, revenue was NT$393.3 billion, up 28% year-over-year, with net profit at NT$42.8 billion, up 53%.

Financial highlights

• Year-to-date gross profit was NT$134.3 billion, up 32% year-over-year, with gross margin at 34.1%.

• Year-to-date operating profit reached NT$57.5 billion, up 56% year-over-year, with operating margin at 14.6%.

• Q3 EBITDA was NT$35.4 billion, up 45% year-over-year and 32% sequentially; EBITDA margin at 23.5%.

• Net cash from operating activities for the nine months was NT$60.3 billion, up from NT$51.2 billion year-over-year.

• Total assets as of September 30, 2025, were NT$590.6 billion, with equity attributable to owners at NT$240.7 billion.

Outlook and guidance

• Strong demand expected to continue in Q4 and into next year, especially for data center, AI-related, and energy-efficient solutions.

• Capacity expansion ongoing, with new factories in Thailand and the U.S.; U.S. ramp-up will take about two years.

• CapEx for the year projected at NT$40 billion, with similar levels expected next year, focusing more on automation.

• Ongoing investments in R&D and strategic acquisitions to drive long-term competitiveness.