Micro-Star International Company (2377) Q1 2025 earnings summary

Executive summary

• Sales revenue for Q1 2025 was NT$53.54 billion, up 12% year-over-year, but net income dropped 57% to NT$1.08 billion due to higher costs and lower operating margin.

• Gross margin declined to 10% from 13% year-over-year, with operating profit falling to NT$1.01 billion from NT$2.23 billion.

• Earnings per share (EPS) for Q1 2025 was NT$1.27, down from NT$2.95 in Q1 2024.

Financial highlights

• Cash and cash equivalents increased to NT$26.3 billion as of March 31, 2025, from NT$20.4 billion a year earlier.

• Total assets rose to NT$110.1 billion, up from NT$95.0 billion year-over-year.

• Total liabilities increased to NT$60.0 billion, with equity at NT$50.1 billion as of March 31, 2025.

• Operating expenses rose 18% year-over-year, mainly in selling expenses.

• Net cash from operating activities was NT$2.22 billion, down from NT$3.38 billion outflow in Q1 2024.

Outlook and guidance

• The Board resolved a NT$5.00 per share cash dividend for 2024 earnings, pending shareholder approval.

• No specific forward-looking financial guidance provided.