Far EasTone Telecommunications (4904) Q3 2025 earnings summary

Executive summary

• Achieved record-high Q3 2025 revenue of NT$26.39 billion (+6.7% YoY), EBITDA of NT$9.39 billion (+3.2% YoY), and net income of NT$3.45 billion (+8.7% YoY), with EPS at NT$0.96, marking a 20-year high for net income.

• Year-to-date revenue reached NT$77.66 billion (+2.9% YoY), net income NT$10.14 billion (+8.7% YoY), and EPS NT$2.79 (+9.0% YoY).

• Gross margin improved to 32% from 31% YoY, with operating income up 12.7% to NT$12.71 billion.

• Quarterly revenue has grown YoY for 20 consecutive quarters, driven by ICT, 5G upgrades, and prepaid business.

• The financial statements received an unqualified review from independent auditors.

Financial highlights

• Net income margin improved to 13.1% in Q3 2025 from 12.8% in Q3 2024; net margin for the period was 13%.

• Free cash flow remains strong, with YTD at NT$19.16 billion; CapEx expected to be slightly below guidance of NT$8.3 billion.

• Mobile service revenue and margin both increased 1% YoY; digital and essential services revenue up 7% and margin up 8%.

• ICT revenue grew 17% YoY; telecom-based SI project revenue up 49% YoY; ICT & fixed business revenue up 9% YoY.

• Basic and diluted EPS for the nine months ended September 30, 2025, were NT$2.79, compared to NT$2.56 in 2024.

Outlook and guidance

• FY2025 revenue guidance is NT$108.33 billion, EBITDA NT$37.68 billion, and net income NT$13.10 billion.

• Q4 expected to be the highest revenue quarter, with focus on ICT project delivery, APT customer migration, and Double 11 shopping event.

• DPS expected to remain stable and not directly tied to EPS growth, with a focus on maintaining dependable dividend policy.

• The company continues to assess the impact of new IFRS standards effective from 2026 and 2027.