Largan Precision (3008) Q2 2025 earnings summary

Executive summary

• Second quarter 2025 revenue reached NT$11.67 billion, up 6.3% year-over-year; first half revenue totaled NT$26.25 billion, an 18% increase year-over-year.

• Net income for 2Q25 was NT$1.03 billion, with EPS of NT$7.73; first half net income was NT$7.48 billion, down about 30% year-over-year.

• Gross margin for 2Q25 improved to 54% from 48% in the prior year.

• Significant foreign exchange losses impacted profitability, with NT$4.22 billion loss in 2Q25.

Financial highlights

• 2Q25 gross profit was NT$6.26 billion, compared to NT$7.96 billion in 1Q25; 1H25 gross profit increased 31% year-over-year to NT$14.22 billion.

• 2Q25 income from operations was NT$4.88 billion; 1H25 income from operations rose 40% year-over-year.

• 2Q25 pre-tax income was NT$1.79 billion, down from NT$7.72 billion in 1Q25; 1H25 pre-tax income declined 28% year-over-year to NT$9.51 billion.

• Basic EPS for 2Q25 was NT$7.73, down from NT$33.70 in 2Q24; 1H25 EPS was NT$56.01, down from NT$79.49.

• Cash and cash equivalents at June 30, 2024 were NT$110.36 billion.

Outlook and guidance

• The board approved a cash dividend of NT$28 per share for the first half of 2024.

• Lens shipment mix in 2Q25: 10MP accounted for 50-60%, 20MP+ and Others each 20-30%, 8MP at 0-10%.

• Management continues to monitor the impact of new accounting standards and market conditions.