HD Renewable Energy (6873) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2024 was NT$1,888,831 thousand, up 48.5% year-over-year; first half revenue reached NT$3,355,697 thousand, up 55.7% year-over-year.

• Net income attributable to parent for Q2 2024 was NT$100,137 thousand, with basic EPS of NT$0.71; first half net income was NT$181,616 thousand, EPS NT$1.31.

• Significant expansion in assets and equity, with total assets at NT$25,567,054 thousand as of June 30, 2024.

Financial highlights

• Gross margin for Q2 2024 was 23%, consistent with prior year; first half gross margin was 26%.

• Operating income for Q2 2024 was NT$110,950 thousand; first half operating income was NT$271,414 thousand.

• Cash and cash equivalents increased to NT$5,680,647 thousand at June 30, 2024.

• Net cash used in operating activities for H1 2024 was NT$1,674,798 thousand, while net cash from financing activities was NT$7,010,121 thousand.

• Issued NT$3 billion in convertible bonds in Q2 2024.

Outlook and guidance

• Backlog of unfulfilled contract value at June 30, 2024 was NT$25,646,677 thousand, expected to be recognized over the next 1–3 years.

• Management continues to evaluate the impact of new and upcoming IFRS standards.