Merry Electronics (2439) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2025 was NT$32,307 million, up 2.6% year-over-year; Q3 revenue was NT$13,122 million, up 2.1% from Q3 2024.

• Net income for the nine months was NT$938.7 million, down 36.7% year-over-year; Q3 net income was NT$582.6 million, down 6.9% from Q3 2024.

• Gross margin for the nine months was 12%, slightly down from 13% in the prior year period.

• The group continues to expand in Northeast Asia and is pursuing the acquisition of MWT Holdings for up to NT$2,260 million.

Financial highlights

• Operating profit for the nine months was NT$1,344 million, down 44% year-over-year.

• Basic EPS for the nine months was NT$3.77, compared to NT$6.57 in the prior year period.

• Cash and cash equivalents at September 30, 2025 were NT$8,008 million.

• Total assets at September 30, 2025 were NT$42,753 million; total equity was NT$17,859 million.

• Cash dividends of NT$7.3 per share were distributed for 2024.

Outlook and guidance

• Management is focused on enhancing market penetration in Northeast Asia, vertical integration, and operational scale.

• The acquisition of MWT Holdings is expected to strengthen the group’s regional presence.