WNC (6285) Q2 2025 earnings summary

Executive summary

• Net revenue for 1H 2025 was NT$55,858 million, a 0.8% decrease year-over-year.

• Net income for 1H 2025 was NT$1,411 million, down 26.3% year-over-year.

• Gross profit margin for 1H 2025 was 12%, unchanged year-over-year.

• The group operates mainly in the research, development, manufacturing, and sales of communication and ICT products.

• Net income for 2Q 2025 was NT$493 million, a 46.3% decline from the previous quarter.

Financial highlights

• Gross margin for 2Q 2025 was 11.6%, compared to 12.2% in 1Q 2025.

• Operating income for 2Q 2025 was NT$879 million, down 15.9% sequentially.

• EPS for 2Q 2025 was NT$1.03, compared to NT$1.92 in 1Q 2025.

• EPS for 1H 2025 was NT$2.95, compared to NT$4.03 in 1H 2024.

• Cash and cash equivalents increased to NT$15,650 million as of June 30, 2025, from NT$11,662 million a year earlier.

Key financial ratios and metrics

• Operating margin for 2Q 2025 was 3.2%, down from 3.7% in 1Q 2025.

• PAT margin for 2Q 2025 was 1.8%, compared to 3.2% in 1Q 2025.

• Operating margin for 1H 2025 was 3.4%, compared to 3.5% in 1H 2024.

• PAT margin for 1H 2025 was 2.5%, compared to 3.4% in 1H 2024.

• Current ratio as of June 30, 2025 was approximately 1.47x.