Delta Electronics (Thailand) (DELTA) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached $1.652 billion, up 35.5% year-over-year, with net profit at $229 million, up 37.1% year-over-year, both at record highs, demonstrating resilience amid global tech sector volatility.

• Growth was driven by strong demand in power electronics, data center, and industrial automation, with resilience to global tariff and technology sector volatility.

• Diversified portfolio and customer base enabled steady growth despite uneven market conditions.

• Operational efficiency and execution improved across regional operations, supporting sustained growth as global conditions stabilize.

• Revenue for the nine months ended 30 September 2025 was THB 140,440 million, up from THB 122,986 million year-over-year.

Financial highlights

• Q3 revenue: 53.2 billion THB, up 23.1% year-over-year and 19.6% quarter-over-quarter; nine-month revenue: 140.4 billion THB, up 14.2% year-over-year.

• Q3 gross profit: 15.1 billion THB (28% margin), up 26.5% year-over-year and 35.8% quarter-over-quarter; nine-month gross profit: 37.1 billion THB (26.4% margin), up 19.3% year-over-year.

• Q3 operating profit: 7.5 billion THB (14.1% margin), up 25.3% year-over-year and 47.2% quarter-over-quarter; nine-month operating profit: 20.2 billion THB, up from 17.1 billion year-over-year.

• Q3 net profit: 7.4 billion THB (14% margin), up 29.5% year-over-year; nine-month net profit: 17.6 billion THB (12.5% margin), up from 16.8 billion year-over-year.

• Basic earnings per share for the nine months was THB 1.41, up from THB 1.35 year-over-year.

Outlook and guidance

• Q4 2025 performance expected to be at least on par or slightly higher than Q3, with positive medium-term order visibility.

• Double-digit revenue growth targeted for 2026, driven by data center and AI-related business.

• Full-year CapEx expected to match last year at about THB 420 million, focused on manufacturing capacity expansion.

• The Group is impacted by the OECD Pillar Two global minimum tax, with a top-up tax expense recognized.

• Management expects continued expansion in power electronics, automation, and infrastructure segments.