2025/07/29
Coretronic Corporation Announces Second Quarter 2025 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the second quarter of 2025. For the second quarter ended June 30, 2025, Coretronic reported consolidated sales revenue of NT$9,858 million, reflecting a 16% increase from the previous quarter, driven by a recovery in shipments of the two major product lines and simultaneous revenue growth from subsidiaries. Compared to the same period last year, it showed a slight decline of 1%. The consolidated gross margin for the second quarter was 18.1%, benefiting from a favorable product mix. This represents an increase of 0.6% from 17.5% in the first quarter and a 0.2% increase compared to 17.9% in the same period last year. Operating income for the second quarter was NT$51 million, representing an increase of 123% compared to the previous quarter and 26% YoY. Net income after tax was NT$55 million, up 197% from the previous quarter but down 78% compared to the same period last year. Net income attributable to equity holders of the parent company was NT$57 million in the second quarter, increase 199% from NT$0.19 million in the previous quarter and a decrease of 80% from NT$282 million in the same period last year. The basic EPS for the second quarter of 2025 was NT$0.15.
For the first half of 2025, Coretronic reported consolidated sales revenue of NT$18,332 million, representing a slight decrease of 4% compared to the consolidated revenue of NT$19,088 million in the first half of 2024. The consolidated gross margin for the first half of the year was 17.9%, a slight increase of 0.1% compared to 17.8% in the same period last year, mainly driven by a favorable shift in the product mix. The operating loss was NT$167 million, a decrease compared to the operating profit of NT$12 million in the same period last year. The net income was reported at NT$73 million, representing a 68% decline from NT$230 million in the same period last year. The net income attributable to equity holders of the parent company was NT$77 million, a decrease of 82% YoY. The basic EPS for the first half of this year was NT$0.2, lower than the EPS of NT$1.09 in the same period last year.
For the second quarter of 2025, the overall sales revenue of Energy Saving products amounted to NT$4,230 million, representing a 9% increase compared to the first quarter, driven by significant growth in Monitor shipments and mass production of new TV and OLED models. However, this marks a 7% decrease compared to the same period last year. The shipments for this quarter reached 6.99 million units, remaining flat compared to the previous quarter but down 7% YoY. The sales revenue of Energy Saving products in the first half of 2025 was about NT$8,128 million, while the shipment volume totaled around 14.01 million units, both representing a 7% decrease compared to the same period last year. Regarding the 3Q25 operation, Ms. Sarah Lin, President of Coretronic stated that driven by the mass production of new models, TV shipments are expected to grow significantly QoQ. Meanwhile, with steady improvements in yield and capacity at the Vietnam Monitor plant, Monitor shipments are also projected to increase by 30% to 40% QoQ. However, NB shipments are still affected by changes in tariff policies and are expected to grow slightly compared to the second quarter. Overall, the Energy Saving products total shipments in the third quarter are anticipated to grow by more than 20% compared to the previous quarter. Looking forward to future business development, Sarah pointed out that the overall shipment volume of Energy Saving products is expected to grow by more than 10% in 2025. However, demand may still be affected by uncertainties related to tariffs. The supply chain is closely monitoring geopolitical developments and adjusting inventory levels to mitigate risks and reduce cost impacts. The Energy Saving Business Group will also flexibly adjust its production and shipment strategies to secure major product line orders and capitalize on the growth trends in OLED NB models and ODM automotive models, in order to maintain overall operational momentum and market competitiveness.
In the second quarter, sales revenue of Visual Solutions products reached NT$2,589 million, with shipments reaching around 175K units, an increase of 6% and 9%, respectively, compared to the previous quarter. However, both figures declined YoY, down 22% in revenue and 25% in shipment volume. For the first half of 2025, the sales revenue was NT$5,025 million, with shipments totaling around 337K units, representing a YoY decrease of 25% and 26%, respectively. The decline was mainly due to exchange rate fluctuations and changes in U.S. tariff policies. Regarding the business outlook for 3Q25, Sarah stated that ongoing uncertainties around tariffs and exchange rate fluctuations continue to impact inventory costs and market pricing. The tariff policy has triggered a surge in urgent orders, leading to increased inventory levels in the U.S. market and a subsequent stagnation in new orders. Meanwhile, the European market remains sluggish in its recovery due to the effects of war and inflation. As a result, the estimated shipment volume of Visual Solutions products will decrease by about 20% QoQ. However, with greater clarity on upcoming tariff policies, the new projector models are expected to enter mass production and reach to the market. Demand in the Pro-AV segment is also recovering as it enters the peak season, while shipments of automotive interior/exterior projection products and AR logistics applications are gradually ramping up. Taking these factors into consideration, Sarah conservatively estimates that the total shipment volume of Visual Solutions products in 2025 will remain flat or decline slightly compared to the previous year.
For the first half of 2025, Coretronic reported consolidated sales revenue of NT$18,332 million, representing a slight decrease of 4% compared to the consolidated revenue of NT$19,088 million in the first half of 2024. The consolidated gross margin for the first half of the year was 17.9%, a slight increase of 0.1% compared to 17.8% in the same period last year, mainly driven by a favorable shift in the product mix. The operating loss was NT$167 million, a decrease compared to the operating profit of NT$12 million in the same period last year. The net income was reported at NT$73 million, representing a 68% decline from NT$230 million in the same period last year. The net income attributable to equity holders of the parent company was NT$77 million, a decrease of 82% YoY. The basic EPS for the first half of this year was NT$0.2, lower than the EPS of NT$1.09 in the same period last year.
For the second quarter of 2025, the overall sales revenue of Energy Saving products amounted to NT$4,230 million, representing a 9% increase compared to the first quarter, driven by significant growth in Monitor shipments and mass production of new TV and OLED models. However, this marks a 7% decrease compared to the same period last year. The shipments for this quarter reached 6.99 million units, remaining flat compared to the previous quarter but down 7% YoY. The sales revenue of Energy Saving products in the first half of 2025 was about NT$8,128 million, while the shipment volume totaled around 14.01 million units, both representing a 7% decrease compared to the same period last year. Regarding the 3Q25 operation, Ms. Sarah Lin, President of Coretronic stated that driven by the mass production of new models, TV shipments are expected to grow significantly QoQ. Meanwhile, with steady improvements in yield and capacity at the Vietnam Monitor plant, Monitor shipments are also projected to increase by 30% to 40% QoQ. However, NB shipments are still affected by changes in tariff policies and are expected to grow slightly compared to the second quarter. Overall, the Energy Saving products total shipments in the third quarter are anticipated to grow by more than 20% compared to the previous quarter. Looking forward to future business development, Sarah pointed out that the overall shipment volume of Energy Saving products is expected to grow by more than 10% in 2025. However, demand may still be affected by uncertainties related to tariffs. The supply chain is closely monitoring geopolitical developments and adjusting inventory levels to mitigate risks and reduce cost impacts. The Energy Saving Business Group will also flexibly adjust its production and shipment strategies to secure major product line orders and capitalize on the growth trends in OLED NB models and ODM automotive models, in order to maintain overall operational momentum and market competitiveness.
In the second quarter, sales revenue of Visual Solutions products reached NT$2,589 million, with shipments reaching around 175K units, an increase of 6% and 9%, respectively, compared to the previous quarter. However, both figures declined YoY, down 22% in revenue and 25% in shipment volume. For the first half of 2025, the sales revenue was NT$5,025 million, with shipments totaling around 337K units, representing a YoY decrease of 25% and 26%, respectively. The decline was mainly due to exchange rate fluctuations and changes in U.S. tariff policies. Regarding the business outlook for 3Q25, Sarah stated that ongoing uncertainties around tariffs and exchange rate fluctuations continue to impact inventory costs and market pricing. The tariff policy has triggered a surge in urgent orders, leading to increased inventory levels in the U.S. market and a subsequent stagnation in new orders. Meanwhile, the European market remains sluggish in its recovery due to the effects of war and inflation. As a result, the estimated shipment volume of Visual Solutions products will decrease by about 20% QoQ. However, with greater clarity on upcoming tariff policies, the new projector models are expected to enter mass production and reach to the market. Demand in the Pro-AV segment is also recovering as it enters the peak season, while shipments of automotive interior/exterior projection products and AR logistics applications are gradually ramping up. Taking these factors into consideration, Sarah conservatively estimates that the total shipment volume of Visual Solutions products in 2025 will remain flat or decline slightly compared to the previous year.
