Elite Material (2383) Q3 2025 earnings summary

Executive summary

• Achieved strong revenue and profit growth in 3Q25, with revenue at NTD 25,146M, up 44% YoY, and net income at NTD 3,964M, up 58% YoY.

• Maintained global leadership in high-end eco-friendly laminates and expanded share in premium market segments.

• Continued investment in technology, scale, and geographic diversity, with major capital expenditures and acquisition of 30% of Technica USA, raising stake to 60%.

• Issued and fully converted sixth and seventh domestic unsecured convertible corporate bonds during the period.

• Paid cash dividends of NTD 5,893,695 thousand for 2024, up from NTD 3,439,332 thousand for 2023.

Financial highlights

• Revenue reached NTD 25,146M in Q3 2025, up 44% YoY and 11.7% QoQ; nine-month revenue was NTD 69,333M, up 51% YoY.

• Net income for Q3 2025 was NTD 3,964M, up 58% YoY; nine-month net income was NTD 10,909M, up 57% YoY.

• Basic EPS for Q3 2025 was NTD 11.19, a 53.3% YoY increase; nine-month EPS was NTD 31.23, up from NTD 20.14.

• Gross margin improved to 30.1% in Q3 2025 (+3.1 ppts YoY); net margin at 15.8% (+1.4 ppts YoY); operating margin at 20%.

• Cash and equivalents at September 30, 2025 were NTD 16,140M, up from NTD 13,601M a year earlier.

Outlook and guidance

• High-end CCL market expected to grow at 40% CAGR from 2024–2027, with overall CCL market at 18% CAGR.

• Company anticipates outpacing high-end CCL market growth.

• Management expects no material impact from new or revised IFRS standards effective in 2026; IFRS 18 to be adopted in 2028 with no early impact anticipated.