2025/10/28
Coretronic Corporation Announces Third Quarter 2025 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the third quarter of 2025. For the third quarter ended Sep. 30, 2025, Coretronic reported consolidated sales revenue of NT$9,948 million, representing a 1% increase from the previous quarter, despite mixed performance across the two major product lines and subsidiaries. Compared to the same period last year, revenue decline by 7%. The consolidated gross margin for the third quarter was 15.2%, down 2.9% from 18.1% in the previous quarter and 1.4% from 16.6% in the same period last year, primarily due to changes in product mix. Operating loss for the third quarter was NT$234 million, representing a decline of 562% from the previous quarter and 318% from the same period last year. Net income after tax was NT$87 million, up 58% QoQ, but down 56% YoY. Net income attributable to equity holders of the parent company was NT$95 million in the third quarter, increase 66% from NT$57 million in the previous quarter and a decrease of 53% from NT$203 million in the same period last year. The basic EPS for the third quarter of 2025 was NT$0.24.
For the first three quarters of 2025, Coretronic reported consolidated sales revenue of NT$28,280 million, representing a slight decrease of 5% compared to the consolidated revenue of NT$29,782 million in the first three quarters of 2024. The consolidated gross margin for the first three quarters was 16.9%, a decrease of 0.5% compared to 17.4% in the same period last year, mainly due to unfavorable exchange rate effects. The operating loss was NT$401 million, representing a 436% decrease compared to the operating profit of NT$119 million in the same period last year. The net income was reported at NT$160 million, representing a 62% decline from NT$427 million in the same period last year. The net income attributable to equity holders of the parent company was NT$172 million, a decrease of 73% YoY. The basic EPS for the first three quarters of this year was NT$0.44, lower than the EPS of NT$1.61 in the same period last year.
For the third quarter of 2025, the overall sales revenue of Energy Saving products amounted to NT$5,636 million, representing a 33% increase compared to the second quarter, driven by significant growth in mass production shipments of new TV and OLED Monitor models. The shipments for this quarter reached 8.55 million units, up 22% from the previous quarter and 13% from the same period last year. The sales revenue of Energy Saving products in the first three quarters of 2025 was about NT$13,764 million, while the shipment volume totaled around 22.56 million units, representing a 3% decrease in revenue and flat shipment volume compared to the same period last year. Regarding 4Q25 operation, Ms. Sarah Lin, President of Coretronic stated that Monitor models, as well as automotive and OLED module products, have shown steady growth in shipments. NB products are also expected to see slight growth as shipments of high-end models gradually recover. TV models are entering the off-season, with shipment volume expected to decline by around 30% QoQ. However, the impact may be partially offset by potential rush orders. As a result, the overall shipment volume of Energy Saving products in the fourth quarter is expected to remain flat or slightly decline compared to the third quarter. For the full year 2025, the total shipment volume of Energy Saving products is still expected to show modest growth. Looking forward to future business development, Sarah pointed out that although the global economic recovery continues to be impacted by tariff policies and geopolitical risks, and the first quarter of 2026 may also face pressure from inventory and capacity adjustments, the Energy Saving Business Group will actively expand into emerging application markets while strengthening orders for its core product lines, in order to sustain and enhance operational momentum. In automotive displays, product design is evolving toward larger sizes, curved forms, and higher levels of integration to meet the demands of immersive driving experiences, intelligent driver assistance features, and personalized needs. Meanwhile, QD OLED technology, with their outstanding color accuracy and brightness performance, are gradually expanding into high-end application markets such as gaming and creator markets. The Energy Saving Business Group will actively capitalize on these industry growth trends, continuously enhance its market competitiveness and share, and drive steady operational growth.
In the third quarter, sales revenue of Visual Solutions products reached NT$2,037 million, with shipments reaching around 129K units, representing decrease of 21% and 26%, respectively, compared to the second quarter. These figures declined by 41% and 44%, respectively, compared to the same period last year. For the first three quarters of 2025, the sales revenue was NT$7,062 million, with shipments totaling around 466K units, marking decrease of 30% and 32%, respectively, compared to the same period last year. These declines were mainly due to factors such as changes in U.S. tariff policies and exchange rate fluctuations. Regarding the business outlook for 4Q25, Sarah stated that the fourth quarter is the peak season for holiday shopping, driving increased demand for Visual Solutions products categories such as home entertainment/business projectors, Pro-AV products, and pico projectors. In addition, the mass production of new high-end 4K models is expected to contribute to growth. As a result, overall shipments of Visual Solutions product in 4Q25 is expected to increase by around 10% compared to the third quarter. However, the overall economic outlook in Europe and North America remains uncertain, and customers remain cautious about year-end inventory levels. Therefore, the shipments of Visual Solutions products in 2025 are expected to decline by around 20% to 30% compared to last year. Looking forward to the future development of the Visual Solutions Business Group, Sarah stated that in response to the market demand driven by sporting events in 2026, clients are actively planning and preparing B2C related products. In addition, new interior/exterior automotive projection products, as well as innovative AR logistics applications, are expected to enter mass production and begin shipments gradually. With the introduction of new products and the expansion of applications, overall market demand is expected to gradually recover in 2026, driving continued growth in business momentum.
For the first three quarters of 2025, Coretronic reported consolidated sales revenue of NT$28,280 million, representing a slight decrease of 5% compared to the consolidated revenue of NT$29,782 million in the first three quarters of 2024. The consolidated gross margin for the first three quarters was 16.9%, a decrease of 0.5% compared to 17.4% in the same period last year, mainly due to unfavorable exchange rate effects. The operating loss was NT$401 million, representing a 436% decrease compared to the operating profit of NT$119 million in the same period last year. The net income was reported at NT$160 million, representing a 62% decline from NT$427 million in the same period last year. The net income attributable to equity holders of the parent company was NT$172 million, a decrease of 73% YoY. The basic EPS for the first three quarters of this year was NT$0.44, lower than the EPS of NT$1.61 in the same period last year.
For the third quarter of 2025, the overall sales revenue of Energy Saving products amounted to NT$5,636 million, representing a 33% increase compared to the second quarter, driven by significant growth in mass production shipments of new TV and OLED Monitor models. The shipments for this quarter reached 8.55 million units, up 22% from the previous quarter and 13% from the same period last year. The sales revenue of Energy Saving products in the first three quarters of 2025 was about NT$13,764 million, while the shipment volume totaled around 22.56 million units, representing a 3% decrease in revenue and flat shipment volume compared to the same period last year. Regarding 4Q25 operation, Ms. Sarah Lin, President of Coretronic stated that Monitor models, as well as automotive and OLED module products, have shown steady growth in shipments. NB products are also expected to see slight growth as shipments of high-end models gradually recover. TV models are entering the off-season, with shipment volume expected to decline by around 30% QoQ. However, the impact may be partially offset by potential rush orders. As a result, the overall shipment volume of Energy Saving products in the fourth quarter is expected to remain flat or slightly decline compared to the third quarter. For the full year 2025, the total shipment volume of Energy Saving products is still expected to show modest growth. Looking forward to future business development, Sarah pointed out that although the global economic recovery continues to be impacted by tariff policies and geopolitical risks, and the first quarter of 2026 may also face pressure from inventory and capacity adjustments, the Energy Saving Business Group will actively expand into emerging application markets while strengthening orders for its core product lines, in order to sustain and enhance operational momentum. In automotive displays, product design is evolving toward larger sizes, curved forms, and higher levels of integration to meet the demands of immersive driving experiences, intelligent driver assistance features, and personalized needs. Meanwhile, QD OLED technology, with their outstanding color accuracy and brightness performance, are gradually expanding into high-end application markets such as gaming and creator markets. The Energy Saving Business Group will actively capitalize on these industry growth trends, continuously enhance its market competitiveness and share, and drive steady operational growth.
In the third quarter, sales revenue of Visual Solutions products reached NT$2,037 million, with shipments reaching around 129K units, representing decrease of 21% and 26%, respectively, compared to the second quarter. These figures declined by 41% and 44%, respectively, compared to the same period last year. For the first three quarters of 2025, the sales revenue was NT$7,062 million, with shipments totaling around 466K units, marking decrease of 30% and 32%, respectively, compared to the same period last year. These declines were mainly due to factors such as changes in U.S. tariff policies and exchange rate fluctuations. Regarding the business outlook for 4Q25, Sarah stated that the fourth quarter is the peak season for holiday shopping, driving increased demand for Visual Solutions products categories such as home entertainment/business projectors, Pro-AV products, and pico projectors. In addition, the mass production of new high-end 4K models is expected to contribute to growth. As a result, overall shipments of Visual Solutions product in 4Q25 is expected to increase by around 10% compared to the third quarter. However, the overall economic outlook in Europe and North America remains uncertain, and customers remain cautious about year-end inventory levels. Therefore, the shipments of Visual Solutions products in 2025 are expected to decline by around 20% to 30% compared to last year. Looking forward to the future development of the Visual Solutions Business Group, Sarah stated that in response to the market demand driven by sporting events in 2026, clients are actively planning and preparing B2C related products. In addition, new interior/exterior automotive projection products, as well as innovative AR logistics applications, are expected to enter mass production and begin shipments gradually. With the introduction of new products and the expansion of applications, overall market demand is expected to gradually recover in 2026, driving continued growth in business momentum.
