Delta Electronics (Thailand) Public Company Limited (SET: DELTA) announced robust financial results for the third quarter of 2025 (3Q25), achieving an all-time record high in quarterly net profit, driven by burgeoning demand in the artificial intelligence (AI) data centre sector.
| Quarter | 3Q25 | 3Q24 |
| Net Profit (Loss) Million Baht |
7,441.38 | 5,910.90 |
| Earning Per Share (Baht) |
0.6000 | 0.4700 |
| % Change | 25.89 | |
| 9 Months | 9M25 | 9M24 |
| Net Profit (Loss) Million Baht |
17,558.56 | 16,783.43 |
| Earning Per Share (Baht) | 1.41 | 1.35 |
| % Change | 4.62 | |
The company reported sales revenue of 53,214 million Baht for Q3-25, marking a “remarkable growth” of 23.1% year-on-year (Y-o-Y) compared to 43,225 million Baht in Q3-24. This performance was primarily fueled by strong growth across the Power Electronics, Infrastructure, and Automation business groups. Core products, notably server and networking power systems and data centre solutions, showed solid momentum, aligning with the rapid expansion of the AI-driven data centre industry requiring enhanced energy efficiency and higher power density.
Net profit reached an outstanding 7,441 million Baht in Q3-25, an increase of 25.9% Y-o-Y from 5,911 million Baht in the previous year’s quarter. This translated to Earnings Per Share (EPS) of 0.60 Baht, up from 0.47 Baht in 3Q24.
Profitability was enhanced as the gross profit margin improved substantially to 28.3%. Gross profit surged 26.5% Y-o-Y to 15,085 million Baht. The rise in profitability was supported by strong sales of healthy-margin products and enhanced inventory management efficiency, which allowed DET to reverse a significant amount of inventory provision during the quarter. The company also recognized other incomes, including gains on foreign exchange and compensation for contract decommitment.
However, the Electric Vehicle (EV) power segment faced ongoing challenges due to softened demand and market volatility in Europe and the United States, leading to a sales decline in that specific area.
Selling and administrative expenses (including R&D) increased by 27.7% Y-o-Y, mainly due to higher royalty costs based on increased production and sales leveraging patented technology from the parent company. Furthermore, the company incurred higher selling expenses related to customs duties following the U.S. administration imposing reciprocal tariff policies. These duties are recoverable from customers and will be recognized as revenue.
Regarding the financial position, trade and other receivables (net) stood at 47,108 million Baht as of 30 September 2025, a significant 43.2% rise compared to 31 December 2024, in line with the increased revenue. Total liabilities also increased by 25.2% from year-end 2024, mainly driven by growing trade payables and the creation of a provision for top-up tax under OECD Pillar Two model rules. This provision for top-up tax was also cited as a factor partly offsetting other income during the quarter.
