Merida Industry (9914) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was NT$7,567.6 million, up 29% year-over-year, with net profit at NT$452.2 million, a 5% increase from Q1 2024.

• Gross margin was 17% in Q1 2025, slightly down from 18% in Q1 2024, with operating profit rising to NT$603.3 million.

• Total comprehensive income for the period was NT$840.6 million, with basic and diluted EPS at NT$1.40.

Financial highlights

• Cash and cash equivalents increased to NT$4,026.4 million as of March 31, 2025, from NT$3,569.2 million a year earlier.

• Total assets stood at NT$38,776.4 million, with equity attributable to owners at NT$20,127.9 million.

• Operating cash flow was negative NT$143.9 million, while investing activities generated NT$163.7 million.

• Short-term bank loans rose to NT$7,162.7 million, and long-term borrowings (net of current portion) were NT$903.7 million.

Outlook and guidance

• The board proposed a cash dividend of NT$4.0 per share for 2024, pending shareholder approval.

• Management is assessing the impact of new IFRS standards effective from 2026, with no material effect expected from recent amendments.