Delta Electronics (2308) Q3 2025 earnings summary

Executive summary

• Q3 revenue reached NT$150.3 billion, up 34% year-over-year and 21% sequentially, setting a record high.

• Gross profit for Q3 was NT$52.4 billion, up 34% year-over-year, with a gross margin of 34.9%.

• Operating profit in Q3 rose 51% year-over-year and 33% quarter-over-quarter to NT$24.8 billion, with an operating margin of 16.5%.

• Q3 net profit after tax was NT$18.6 billion, up 51% year-over-year and 33% quarter-over-quarter; EPS was NT$7.16, a historical high.

• For the first nine months, consolidated revenue was NT$393.3 billion, net profit attributable to owners was NT$42.8 billion, and EPS was NT$16.47.

Financial highlights

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

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

• Q3 EBITDA was NT$35.4 billion, up 45% year-over-year and 32% quarter-over-quarter; year-to-date EBITDA was NT$85.2 billion, up 40% year-over-year.

• 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

• Management is optimistic for Q4 and Q1, citing strong data center and infrastructure demand, but maintains a cautious stance due to a rapidly changing environment.

• CapEx for the year expected around NT$40 billion, with similar levels planned for next year, focusing on factory automation and equipment.

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