Giant Manufacturing (9921) Q1 2026 earnings summary

Executive summary

• Net sales revenue for Q1 2026 was NT$12,523.5 million, down 26% year-over-year from NT$16,850.9 million in Q1 2025.

• Gross profit margin improved to 20% from 18% year-over-year, despite lower sales.

• The group reported a net loss attributable to owners of NT$199.8 million, compared to a net profit of NT$367.6 million in Q1 2025.

• Total comprehensive income attributable to owners was NT$275.4 million, down from NT$978.3 million year-over-year.

Financial highlights

• Operating expenses increased to 21% of revenue (NT$2,650.2 million) from 15% (NT$2,572.0 million) year-over-year.

• Loss before income tax was NT$170.6 million, compared to a profit of NT$489.8 million in Q1 2025.

• Basic and diluted EPS were both NT$(0.51), compared to NT$0.94 and NT$0.93, respectively, in Q1 2025.

• Cash and cash equivalents increased to NT$13,787.3 million from NT$13,199.1 million year-over-year.

• Net cash generated from operating activities was NT$692.4 million, down from NT$1,435.3 million year-over-year.

Outlook and guidance

• Management continues to assess the impact of new IFRS standards and Pillar Two income tax legislation, with no significant impact yet recognized.

• The group is monitoring US reciprocal tariffs and global economic conditions in its estimates and forecasts.