United Integrated Services (2404) Q4 2025 earnings summary

Executive summary

• Revenue for the year ended December 31, 2024, was NT$48.86 billion, up 47% year-over-year, driven by strong growth in construction contracts and related services.

• Net income rose to NT$9.07 billion, a 46% increase compared to the prior year, with EPS at NT$48.08 (basic) and NT$47.73 (diluted).

• Gross margin remained robust at 23%, with operating margin at 19%.

• The audit opinion is unqualified, with no material misstatements identified.

Financial highlights

• Operating income reached NT$9.20 billion, up from NT$7.20 billion year-over-year.

• Cash and cash equivalents at year-end were NT$7.21 billion, up from NT$6.46 billion.

• Total assets increased to NT$51.45 billion, and equity rose to NT$18.62 billion.

• Dividend per share for 2023 was NT$28, up from NT$21 in 2022.

Outlook and guidance

• Management continues to monitor the impact of new IFRS standards but expects no material effect on future financials.

• Capital structure and liquidity remain strong, supporting ongoing growth and investment.