Xintec (3374) Q1 2025 earnings summary

Executive summary

• Net revenue for Q1 2024 was NT$1,545 million, up 7.0% year-over-year but down 14.5% sequentially from Q4 2024.

• Net income reached NT$342 million, a 5.0% increase year-over-year but a 25.2% decrease quarter-over-quarter.

• EPS for Q1 2024 was NT$1.26, up from NT$1.20 in Q1 2023 and down 25.0% sequentially.

Financial highlights

• Gross margin was 29.7%-30%, down 4.8ppt sequentially and 3.3ppt year-over-year.

• Operating margin stood at 22.1%, a decrease of 4.9ppt from Q4 2024 and 3.0ppt from Q1 2024.

• Net profit margin was 22.1%, down 3.1ppt sequentially and 0.4ppt year-over-year.

• Cash and cash equivalents at March 31, 2024, were NT$4,959 million, up from NT$4,158 million a year earlier.

• Total assets grew to NT$14,227 million as of March 31, 2024.

Outlook and guidance

• Forward-looking statements indicate significant risks and uncertainties may impact future results.

• The company continues to invest in capacity expansion, supported by government-subsidized loans.

• Dividend payout for FY2023 is proposed at NT$2.5 per share, pending shareholder approval.