Innolux (348) Q1 2025 earnings summary

Executive summary

• 1Q25 consolidated revenue reached NT$55.9 billion, up 4.2% sequentially from 4Q24.

• Net profit for 1Q25 was NT$1.1 billion, reversing a net loss of NT$4.1 billion in 1Q24.

• Basic EPS for 1Q25 was NT$0.12.

• Operating loss narrowed to NT$1.2 billion from NT$4.3 billion in 4Q24.

Financial highlights

• Gross margin improved to 7.6% in 1Q25 from 2.5% in 4Q24.

• EBITDA margin rose to 11.1% in 1Q25 from 6.1% in 4Q24.

• Depreciation & amortization totaled NT$7.5 billion; capital expenditure was NT$3.5 billion.

• Net non-operating income was NT$2.8 billion, down from NT$14.1 billion in 4Q24.

Outlook and guidance

• 2Q25 guidance: non-display sector expected to be flat QoQ; non-commodity sector up low single digit % QoQ; commodity sector flat QoQ.

• Strategic focus on dynamic product mix and operational efficiency to address geopolitical uncertainties.