Visual Photonics Epitaxy (2455) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was NT$793.7 million, down 5% year-over-year from NT$837.4 million in Q1 2024.

• Net profit for Q1 2025 was NT$157.3 million, a 19% decrease from NT$193.0 million in Q1 2024.

• Basic and diluted EPS for Q1 2025 were both NT$0.85, compared to NT$1.04 in Q1 2024.

Financial highlights

• Gross margin for Q1 2025 was 40%, slightly down from 41% in Q1 2024.

• Operating profit margin was 23% in Q1 2025, compared to 24% in Q1 2024.

• Cash and cash equivalents stood at NT$1,158.3 million as of March 31, 2025.

• Total assets were NT$4,660.4 million and total equity was NT$3,486.6 million as of March 31, 2025.

• Gearing ratio improved to 12% at March 31, 2025, from 18% a year earlier.

Outlook and guidance

• The Board resolved to repurchase 2,000 thousand shares as treasury stock between April 10 and June 9, 2025, at NT$60–150 per share.

• Dividend policy maintains at least 10% of total dividends as cash; 2024 cash dividend proposed at NT$3.20 per share.