ITEQ (6213) Q1 2026 earnings summary

Executive summary

• Achieved revenue of NT$9,143 million in 1Q26, up 20.6% year-over-year, with growth across all major product lines and geographies.

• Net income to parent was NT$315 million, down 6.5% YoY, reflecting higher operating costs and expenses.

• Maintained leadership in specialty laminate with a 17.5% global market share in 2024.

• Infrastructure segment remains the largest revenue contributor, accounting for 68% in FY25.

• Total comprehensive income rose to NT$906.8 million, driven by significant foreign currency translation gains.

Financial highlights

• Gross margin for 1Q26 was 11.42%, down from 14.14% in 4Q25 and 14.25% in 1Q25.

• Operating income was NT$424.2 million, a decrease from NT$521.5 million year-over-year.

• EPS for 1Q26 was NT$0.87, a decrease from NT$1.18 in 4Q25 and NT$0.93 in 1Q25.

• Cash and cash equivalents at March 31, 2026 were NT$3,563 million, down from NT$4,791 million a year earlier.

• Net cash used in operating activities was NT$544 million, compared to an inflow of NT$1,546 million in 1Q25.

Outlook and guidance

• Secular growth expected from network infrastructure upgrades and automotive electronics.

• Anticipates robust demand for high-speed/frequency materials driven by AI, data centers, and automotive applications.

• Ongoing capacity expansion in Thailand and China to support future growth.

• Management is evaluating the impact of new IFRS standards, including IFRS 18, to be adopted in 2028.

• No explicit forward-looking financial guidance was provided.