Merry Electronics (2439) Q1 2025 earnings summary

Executive summary

• Operating revenue for Q1 2025 was NT$8,858 million, up 6% year-over-year, with net profit at NT$398 million, a 3% decrease from Q1 2024.

• Total comprehensive income for the period was NT$627 million, with basic EPS at NT$1.42 and diluted EPS at NT$1.33.

• Cash and cash equivalents increased to NT$10,917 million as of March 31, 2025, from NT$9,013 million a year earlier.

Financial highlights

• Gross margin remained stable at 12% for Q1 2025, consistent with Q1 2024.

• Operating profit was NT$104 million, down from NT$180 million year-over-year.

• Non-operating income rose to NT$386 million, driven by higher share of profit from associates.

• Total assets reached NT$39,406 million, with equity attributable to owners at NT$16,778 million.

• Cash dividends of NT$1,850 million were declared for 2024, pending shareholder approval.

Outlook and guidance

• The Group is expanding market penetration in Northeast Asia and enhancing vertical integration.

• Acquisition of MWT Holdings (Japan) for up to JPY 10,278 million is in progress to strengthen operational scale.