HD Renewable Energy (6873) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2024 was NT$1,424,144 thousand, down 2.9% year-over-year; net income attributable to owners was NT$35,347 thousand, a 56.6% decrease from Q1 2023.

• Gross margin improved to 41% from 30% year-over-year, but operating expenses rose slightly as a percentage of revenue.

• The company continues to focus on solar and energy storage project development, engineering, and asset management in Taiwan, Japan, and Australia.

Financial highlights

• Operating income for Q1 2024 was NT$188,431 thousand, up 17.4% year-over-year.

• Net income for Q1 2024 was NT$33,744 thousand, compared to NT$82,482 thousand in Q1 2023.

• Basic and diluted EPS for Q1 2024 were both NT$0.25, down from NT$0.60 and NT$0.59, respectively, in Q1 2023.

• Cash and cash equivalents at quarter-end were NT$2,636,872 thousand, up from NT$2,367,671 thousand at the end of 2023.

• Total assets increased to NT$33,958,557 thousand from NT$32,195,614 thousand at year-end 2023.

Outlook and guidance

• The company expects to recognize NT$13,297,068 thousand in contract revenue over the next 1–3 years as projects are completed.

• Dividend policy remains to distribute at least 10% of distributable earnings, with a focus on balancing growth and shareholder returns.