Nan Ya Printed Circuit Board (8046) Q1 2025 earnings summary

Executive summary

• Q1 2025 consolidated revenues reached NTD 8.5 billion ($8.46 billion), with a market value of NTD 65.3 billion as of March 31, 2025.

• Revenue rebounded 19.1% year-over-year in Q1 2025 after a significant decline in 2024 due to telecom inventory correction.

• Achieved a return to profitability in Q1 2025 with net income of $207 million, reversing a net loss of $152 million in Q1 2024.

• Operating profit improved in Q1 2025, driven by increased demand for high-end networking products and a better product mix.

• Total comprehensive income for Q1 2025 was $458 million, down from $553 million in Q1 2024.

Financial highlights

• Q1 2025 revenues rose 7.5% sequentially from Q4 2024, following a 14.4% decline in Q4 2024 due to seasonality.

• Gross profit margin improved to 5% from -5% in Q1 2024.

• Net operating income was $33 million, compared to a loss of $794 million in Q1 2024.

• Operating profit in Q1 2025 increased by NTD 423.7 million from Q4 2024, with a margin improvement to 1.4%.

• Cash and cash equivalents at quarter-end were $7.65 billion, down from $12.87 billion a year ago.

Outlook and guidance

• Future product development focuses on AI, HPC, and next-generation networking, with expansion into automotive and optical communication substrates.

• Operational strategies for 2025 emphasize product, business, digital, and low-carbon transformations.

• Management is evaluating the impact of new IFRS standards effective in 2027, with no significant near-term impact expected.

• No seasonality or periodicity expected to affect operations.