Hiwin Technologies (2049) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was NT$5,838.8 million, up 6% year-over-year, with net profit attributable to owners at NT$482.8 million, a 22% increase from Q1 2024.

• Basic and diluted EPS for Q1 2025 was NT$1.36, up from NT$1.12 in Q1 2024.

• Gross margin improved to 30% from 29% year-over-year.

• The acquisition of Hiwin Czech expanded the drive control business and operational scale.

• Q1 2025 saw a notable sequential rebound in net profit and profit before tax, driven by improved non-operating income.

Financial highlights

• Operating income for Q1 2025 was NT$418.8 million, up from NT$400.2 million in Q1 2024.

• Net foreign exchange gain surged to NT$173.8 million from NT$88.2 million year-over-year.

• Cash and cash equivalents at March 31, 2025, were NT$7,575.2 million.

• Inventory write-downs for Q1 2025 were NT$35.7 million, down from NT$103.5 million in Q1 2024.

• Profit before income tax was NT$285 million, up 111% sequentially and 24% year-over-year.

Segment performance

• Linear guideways contributed NT$3,624.4 million in revenue and NT$360.8 million in segment profit for Q1 2025.

• Ballscrews generated NT$1,114.1 million in revenue and NT$88.1 million in segment profit.

• Other segments reported NT$1,100.3 million in revenue and a segment loss of NT$30.2 million.

• Asia accounted for 59% of sales, Europe 29%, America 7%, and Taiwan 7% in Q1 2025.

• Product mix: Linear Guideway 64%, Ballscrew 20%, Robot 7%, Others 9% of Q1 2025 sales.