Mega Union Technology (6944) Q4 2025 earnings summary

Executive summary

• Audited consolidated financials for the years ended December 31, 2025 and 2024, prepared under IFRS as endorsed by Taiwan's FSC, with an unqualified audit opinion.

• The group specializes in ultrapure water and wastewater recycling system planning, design, and installation, with a significant focus on construction contracts.

• Revenue recognition for construction contracts is based on stage of completion, with accuracy of construction revenue identified as a key audit matter due to estimation uncertainties.

Financial highlights

• Operating revenue rose to $16,912,921 thousand in 2025, up from $10,300,194 thousand in 2024 (year-over-year growth of 64%).

• Net profit for 2025 was $2,371,525 thousand, up from $1,512,088 thousand in 2024 (57% year-over-year increase).

• Gross profit margin remained stable at 23% for both years.

• Basic EPS increased to $32.29 in 2025 from $22.33 in 2024.

• Cash and cash equivalents at year-end 2025 were $6,679,295 thousand, more than doubling from 2024.

Outlook and guidance

• The aggregate transaction price allocated to unsatisfied construction contracts at year-end 2025 was $21,260,800 thousand, expected to be recognized as revenue over the next one to two years.

• The board authorized significant investments in new plant construction in Taiwan and the U.S. for long-term growth.