Delta Electronics reported a 20% year-on-year decline in fourth-quarter profit to NT$7.2 billion ($227 million) after recognizing an asset impairment charge of NT$2.69 billion ($85 million). The impairment reduced earnings per share by NT$0.85, resulting in quarterly EPS of NT$2.76.
The Taiwanese power electronics company saw its Q4 gross margin fall to 30.8% from 34.9% in the previous quarter, while revenue rose 14% year-on-year to NT$114.2 billion ($3.6 billion).
For the full year 2024, Delta achieved record revenue of NT$421.1 billion ($13.3 billion), up 5% from 2023, with net profit also increasing 5% to NT$35.2 billion ($1.1 billion). Annual EPS reached NT$13.56.
The company’s infrastructure segment showed the strongest quarterly growth, boosted by liquid cooling product contributions for AI servers. Meanwhile, the mobility segment faced headwinds from a deteriorating electric vehicle market, posting negative growth and operating losses for the quarter.
Among Delta’s four main business divisions, power electronics remained the largest contributor with annual revenue of NT$224 billion ($7.1 billion), up 10% year-on-year. The infrastructure division saw the highest profit growth at 28%.
Looking ahead, Delta’s cooling products are gaining momentum, with their contribution to overall revenue jumping from less than 1% in 2024 to 6-7% by January 2025, driven by adoption in NVIDIA GB200 AI servers.
The board has proposed a cash dividend of NT$7 per share, subject to shareholder approval at the May annual meeting.
