2025/04/29
Coretronic Corporation Announces First Quarter 2025 Results
Hsinchu, Taiwan – Coretronic Corporation (5371.TW) today announced its financial results for the first quarter of 2025. For the first quarter ended Mar. 31, 2025, Coretronic reported consolidated sales revenue of NT$8,474 million, reflecting a 14% decline from the fourth quarter of 2024 and a 7% decrease compared to the same period last year due to the off-season effect and fewer working days. The consolidated gross profit margin for the first quarter was 17.5%, which was 1.5% lower than the 19% in the previous quarter and 0.1% lower than 17.6% in the same period last year due to the impact of exchange rates. Operating loss for the first quarter was NT$217 million, down 416% from the fourth quarter in 2024 and 666% lower than the same period last year. Net income after tax in the first quarter amounted to NT$19 million, representing a 92% QoQ decrease and a significant increase of 230% from the same period last year. Net income attributable to equity holders of the parent company was NT$19 million in the first quarter, down 90% from NT$193 million in the previous quarter and a decrease of 87% from NT$143 million in the same period last year. The basic EPS for the first quarter of 2025 was NT$0.05.
For the first quarter of 2025, the overall sales revenue of Energy Saving products amounted to NT$3,899 million, affected by the off-season, there was a 21% decrease compared to the previous quarter and 7% decrease compared to the same period last year. The shipments for this quarter reached 7.02 million units, showing a 3% decrease from the previous quarter and a 7% decrease YoY. Regarding the 2Q25 operation, Ms. Sarah Lin, President of Coretronic stated that with the mass production of new models, it is expected that TV shipments in the second quarter will grow significantly by more than 50% compared to the previous quarter. At the same time, thanks to the steady increase in production capacity at the Vietnam plant, shipments of monitor models are expected to rise by 60% to 70% compared to the first quarter. However, shipments of NB models are being impacted by potential changes in tariff policies and rising tariff costs on products shipped from China, and are estimated to decline by approximately 10% QoQ in the second quarter. Therefore, it is expected that the overall shipment volume of Energy Saving products in 2Q25 will grow slightly compared to the first quarter. Looking forward to future business development, Sarah pointed out that as TV and IT application products gradually scale up, and as shipments of OLED NBs/Tablets and ODM automotive products increase in line with market growth trends, the overall shipment volume of Energy Saving products in 2025 is expected to maintain a growth rate of 10% to 20%. However, reciprocal tariffs still pose uncertain risks and impacts on operations in the second half of the year. The company will continue to monitor changes in the international market and flexibly adjust its production and shipment strategies to maintain overall operational momentum and market competitiveness.
Due to weak demand for mainstream and consumer models, the Visual Solutions business reported total sales of NT$2,436 million in first quarter, with a shipment volume of around 161K units. These figures represent a 6% decrease compared to the fourth quarter, and a 27 % and 28% decrease, respectively, compared to the same period last year. Regarding the outlook for 2Q25, Sarah stated that global Projector market demand remains conservative, with no clear signs of improvement in the overall economic and market environment. Affected by reciprocal tariff, some customers have suspended shipments from China to the U.S. market, shifting part of the urgent orders to the Taiwan plant instead. Despite the challenging external environment, benefiting from recovering demand for business and large venue segment, the shipment volume of Visual Solutions products in the second quarter is expected to grow by more than 10% compared to the first quarter. In facing future business development, it is necessary to cautiously respond to a range of uncertainties, including geopolitical conflicts, inflationary pressures, U.S. tariffs, exchange rate fluctuations, and conservative GDP growth expectations across various regions. Looking ahead to the full year of 2025, Sarah conservatively forecasts that the overall shipment volume of Visual Solutions products will remain flat compared to last year. However, with ongoing product mix optimization, the shipment proportion of high-end projection products is expected to continue rising. Additionally, automotive interior/exterior projection products and AR logistics applications will gradually begin shipping, driving improvements in overall product value and market competitiveness.
For the first quarter of 2025, the overall sales revenue of Energy Saving products amounted to NT$3,899 million, affected by the off-season, there was a 21% decrease compared to the previous quarter and 7% decrease compared to the same period last year. The shipments for this quarter reached 7.02 million units, showing a 3% decrease from the previous quarter and a 7% decrease YoY. Regarding the 2Q25 operation, Ms. Sarah Lin, President of Coretronic stated that with the mass production of new models, it is expected that TV shipments in the second quarter will grow significantly by more than 50% compared to the previous quarter. At the same time, thanks to the steady increase in production capacity at the Vietnam plant, shipments of monitor models are expected to rise by 60% to 70% compared to the first quarter. However, shipments of NB models are being impacted by potential changes in tariff policies and rising tariff costs on products shipped from China, and are estimated to decline by approximately 10% QoQ in the second quarter. Therefore, it is expected that the overall shipment volume of Energy Saving products in 2Q25 will grow slightly compared to the first quarter. Looking forward to future business development, Sarah pointed out that as TV and IT application products gradually scale up, and as shipments of OLED NBs/Tablets and ODM automotive products increase in line with market growth trends, the overall shipment volume of Energy Saving products in 2025 is expected to maintain a growth rate of 10% to 20%. However, reciprocal tariffs still pose uncertain risks and impacts on operations in the second half of the year. The company will continue to monitor changes in the international market and flexibly adjust its production and shipment strategies to maintain overall operational momentum and market competitiveness.
Due to weak demand for mainstream and consumer models, the Visual Solutions business reported total sales of NT$2,436 million in first quarter, with a shipment volume of around 161K units. These figures represent a 6% decrease compared to the fourth quarter, and a 27 % and 28% decrease, respectively, compared to the same period last year. Regarding the outlook for 2Q25, Sarah stated that global Projector market demand remains conservative, with no clear signs of improvement in the overall economic and market environment. Affected by reciprocal tariff, some customers have suspended shipments from China to the U.S. market, shifting part of the urgent orders to the Taiwan plant instead. Despite the challenging external environment, benefiting from recovering demand for business and large venue segment, the shipment volume of Visual Solutions products in the second quarter is expected to grow by more than 10% compared to the first quarter. In facing future business development, it is necessary to cautiously respond to a range of uncertainties, including geopolitical conflicts, inflationary pressures, U.S. tariffs, exchange rate fluctuations, and conservative GDP growth expectations across various regions. Looking ahead to the full year of 2025, Sarah conservatively forecasts that the overall shipment volume of Visual Solutions products will remain flat compared to last year. However, with ongoing product mix optimization, the shipment proportion of high-end projection products is expected to continue rising. Additionally, automotive interior/exterior projection products and AR logistics applications will gradually begin shipping, driving improvements in overall product value and market competitiveness.
