HD Renewable Energy (6873) Q4 2025 earnings summary

Executive summary

• Revenue for the year ended December 31, 2024, was NT$8,779,687 thousand, down 13% year-over-year.

• Net income attributable to owners was NT$503,912 thousand, a 58% decrease from the prior year.

• Gross margin declined to 26% from 27% year-over-year, with operating margin at 10% versus 16% prior year.

Financial highlights

• Operating income was NT$887,191 thousand, down from NT$1,624,650 thousand year-over-year.

• Basic EPS was NT$3.59, compared to NT$9.72 in the previous year; diluted EPS was NT$3.58, down from NT$9.38.

• Total assets increased to NT$32,195,614 thousand from NT$18,532,968 thousand year-over-year.

• Total liabilities rose to NT$20,340,208 thousand, with equity at NT$11,855,406 thousand.

• Cash and cash equivalents at year-end were NT$2,367,671 thousand, down from NT$4,593,322 thousand.

Outlook and guidance

• Outstanding contract value for unfulfilled performance obligations was NT$30,093,153 thousand, expected to be recognized over the next one to three years.

• Management continues to monitor market and regulatory changes, with a focus on capital structure and liquidity.