Far Eastern New Century (1402) Q1 2025 earnings summary

Executive summary

• Consolidated revenue for 1Q25 was NT$63.7B, down 2.6% year-over-year; full-year 2024 revenue rose 5% to NT$270.95B compared to 2023.

• Net income attributable to shareholders increased 47% year-over-year in 1Q25 to NT$2.33B; another report notes net income rose 21% to NT$4.54B, with EPS at NT$0.46, up from NT$0.32.

• Gross profit margin improved to 23% from 19% year-over-year, driven by lower cost of goods sold and higher telecom segment profitability.

• The company maintains a consistent dividend policy, with a 2024 payout ratio of 80% and cash dividend per share of NT$1.60.

• Strategic focus on sustainability, green innovation, and global expansion, aiming for net zero by 2050.

Financial highlights

• 1Q25 profit from operations surged 92% year-over-year to NT$6.27B.

• EPS for 1Q25 was NT$0.46, up from NT$0.32 in 1Q24; full-year 2024 EPS reached NT$2.00.

• EBITDA for 2024 was NT$10.7B, slightly down from NT$10.9B in 2023.

• Book value per share increased to NT$44.6 as of March 31, 2025.

• Cash and cash equivalents at quarter-end were NT$37.0B, down from NT$41.3B at year-end 2024.

Outlook and guidance

• Targeting 50% reduction in GHG emissions and 50% green product share of total production by 2030.

• Expansion of recycled PET (R-PET) capacity globally, aiming to be the world’s No.1 R-PET supplier.

• Regulatory trends in major markets are expected to drive further demand for recycled products.

• The group continues to assess the impact of new IFRS standards effective in 2026 and is preparing for enhanced disclosure and performance measures.

• Strategic investments in energy management and IoT services are planned, including a NT$430M investment in InSynerger Technology.