SynPower (6658) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2024 was NT$486.5 million, up 72% year-over-year from NT$282.9 million.

• Net income attributable to owners was NT$13.7 million, a significant increase from NT$0.7 million in Q1 2023.

• Gross margin remained stable at 24%, with operating margin improving to 2.9% from a loss last year.

• Basic and diluted EPS were NT$0.40, compared to NT$0.02 in Q1 2023.

Financial highlights

• Operating income for Q1 2024 was NT$13.9 million, compared to an operating loss of NT$3.7 million in Q1 2023.

• Operating expenses increased to NT$101.6 million, up from NT$73.7 million year-over-year.

• Net cash provided by financing activities was NT$157.1 million, mainly from a NT$209.4 million capital increase.

• Cash and cash equivalents at quarter-end were NT$797.6 million, up from NT$546.9 million a year ago.

Outlook and guidance

• The company continues to invest in capacity expansion and R&D, with new borrowings and capital increases supporting growth.

• Management is monitoring the impact of new IFRS standards effective in 2026 and 2027.