Sercomm (5388) Q4 2025 earnings summary

Executive summary

• Net sales for 2025 Q4 increased 6.3% sequentially to NT$15,683 million, but full-year 2025 sales declined 4.9% year-over-year to NT$53,999 million.

• Operating profit dropped 17.6% quarter-over-quarter and 45.3% year-over-year, reflecting margin pressures.

• Net income attributable to owners fell 9.7% sequentially and 47.0% year-over-year.

• Consolidated financial statements for 2025 and 2024 were audited with an unmodified opinion, confirming fair presentation in accordance with IFRS and local regulations.

• The group operates globally in network communication software and equipment, with all subsidiaries fully consolidated.

Financial highlights

• Operating revenue for 2025 was $53,999,430 thousand, down from $56,788,762 thousand in 2024.

• Net profit attributable to owners was $1,202,805 thousand in 2025, a decrease from $2,271,006 thousand in 2024.

• Q4 gross profit rose 4.5% sequentially, but annual gross profit declined 15.9% year-over-year.

• Basic EPS was $4.04 in 2025, down from $7.74 in 2024.

• Cash and cash equivalents at year-end 2025 were $5,759 million, down from $8,306 million a year earlier.

Outlook and guidance

• The Board proposed a 2025 cash dividend of $2.50 per share, subject to shareholder approval.

• Management continues to monitor the impact of new IFRS standards and Pillar Two tax legislation, with no significant impact expected yet.