Delta Thailand Briefing
3Q/FY2025 Earnings - Three Month Period Ended 30 September 2025
October 2025 Delta Confidential
Corporate Mis s ion
To provide innovative, clean and energy-efficient solutions for a better tomorrow.
2 Delta Confidential
Brand Promis eSmarter. Greener. Together.
"Smarter"
is our continuous innovation in power electronics technology.
"Greener" represents Delta's mission since
our founding.
"Together"
is our business philosophy in building long-term partnerships with our stakeholders.
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Corporate Culture
Integrity
Innovation
Collaboration
Inclusion
Honestly dedicated to achieving quality with our work, upholding the highest level of professional standards and matching our words with action.
Looking ahead to discover future possibilities, embracing continuous learning to innovate on creative solutions and breaking through the status quo.
Creating synergetic partnerships that achieve shared goals with agility and precision, putting partners, clients and users at the center of our collaborative efforts.
Open to diverse perspectives, respecting of differing opinions and inclusive of various backgrounds that offer
Empowerment
Integrity
Innovation
Empowerment
unique contributions.
Achieving our own success by empowering others to realize their own goals, encouraging active and enthusiastic growth to fulfill everyone's potential.
Inclusion
Collaboration
Delta Group Global OperationDelta Thailand
Country | Sales Office | Factory | R&D | |
1. | Thailand | ● | ● | ● |
2. | India | ● | ● | ● |
3. | Australia | ● | ||
4. | Singapore | ● | ||
5. | Vietnam | ● | ||
6. | Indonesia | ● | ||
7. | Philippines | ● | ||
8. | Germany | ● | ||
9. | Slovakia | ● | ||
10. | USA | ● | ||
11. | UK | ● |
Founded in 1971
World's Leader in Switching Power Supplies
and DC Brus hles s Fans
Dedicated to providing:
Telecom Power Sys tems
US$ Million
Worldwide Revenues
11,275
12,890 12,891 13,131
9,006
9,625
-
1971
2019
2020
2021
2022
2023
2024
EV Powertrain Sys tems
Indus tria l Automation
Pas s ive and Magnetic Components
Networking Products
Vis ual Dis plays
Building Automation
Datacenter Infrastructure
Renewable Energy and Energy Storage
EV Charging Infras tructure
Founded in 1988
Thailand's largest listed electronics
manufac turer on the Stoc k Exc hang e of Thailand (SET)
Bus ines s manag ement c enter for Southeas t
As ia , India and Aus tra lia / New Zealand markets
Produc t development manag ement c enter with R&D c enters in Bangkok (Thailand), Soes t/
Teningen (Germany), UK, USA and India.
Manufac turing manag ement c enter to s ynergize advanced technologies and highly efficient production acros s manufacturing plants in
Thailand, India and Slovakia.
James Ng
US$ Million
Delta Thailand Consolidated Revenues
4,109
4,604
3,337
2,600
2,013
0.011
1988
2020
2021
2022
2023
2024
Chairman
Victor Cheng
CEO
Jackie Chang
President and COO
Group R&D
EAST KILBRIDE, SCOTLAND - UK
Industrial, Medical, Telecom
TENINGEN, GERMANY
Industrial, Medical Power
BANGPOO, THAILAND
Storage, Server, Industrial, Automotive Power
MICHIGAN, USA
Automotive Power
GURGAON, BENGALURU, INDIA
Telecom, UPS, Video wall, EV charging, ESS applications, IoT & AI-related software
SOEST, GERMANY
Storage, Server, Telecom, Networking, Automotive Power, Wind power
Delta Thailand Business Location
SEA - India - Oceania
Country | Location | Occ %* | Product |
Thailand | Bangpoo: Plant 1 | 70% | Automotive Electronics Product |
Bangpoo: Plant 3 | 84% | DNI Delta networking product Magnetics & Solenoids Product for Internal Use | |
Bangpoo: Plant 5 | 83% | IT/ Appliance/ Industrial Power Solutions/ Customer Design Power/ Communication & Information Solutions/ Industrial & Medical Power | |
Bangpoo: Plant 8 | 78% | Automotive Power, ICT Power | |
Wellgrow: Plant 6 | 75% | DC Fan/ EMI Filter & Solenoids | |
Wellgrow: Plant 7 | 95% | Computer & Networking/ DC Power | |
India | Gurgaon | 89% | Display solutions products/ Industrial Automation |
Rudrapur | 98% | Telecom Power System/ UPS/ Wind Power Converter | |
Krishnagiri | 49% | Power Supply/ Industrial Automation/ Energy Infrastructure Solutions | |
Slovakia | Nova Dubnica | 44% | Medical & Industrial Power/ EV Charging/ Bulk Power/ Telecom Power System |
Liptovsky Hradok | 76% | Eltek Telecom Power System |
Strategic locations of Thailand factories
Delta Thailand's manufacturing plants are built near important seaports and international airport to ensure efficiency and
security of logistics for global and regional delivery.
Bangpoo Plants
(Plant 1, 3, 5, 8)
Main Airport
Bangkok
Seaport
Laem Chabang
Seaport
Wellgrow Plant
(Plant 6, 7)
9
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* Occupancy As at 31 December 2024
Major Shareholders
A subsidiary of Delta Electronics, Inc. (Taiwan) | ||
Top Shareholders (as of 28 February 2025) | Holding | % |
DELTA ELETRONICS INT'L (SINGAPORE) PTE. LTD | 5,344,793,060 | 42.85% |
DELTA INTERNATIONAL HOLDING LIMITED | 1,768,611,700 | 14.17% |
CITI (NOMINEES) LIMITED-CBHK-PBGSG-RESTRICTED SHARES | 1,728,454,200 | 13.86% |
DELTA ELECTRONICS INC. | 691,281,400 | 5.54% |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, HONGKONG BRANCH | 547,600,000 | 4.39% |
RAFFLES NOMINEES (PTE) LIMITED | 543,500,000 | 4.36% |
UBS AG HONG KONG BRANCH | 514,100,675 | 4.12% |
THAI NVDR COMPANY LIMITED | 357,794,308 | 2.87% |
VAYUPAK FUND 1 | 111,172,800 | 0.89% |
SOUTH EAST ASIA UK (TYPE C) NOMINEES LIMITED | 107,325,884 | 0.86% |
STATE STREET EUROPE LIMITED | 78,042,733 | 0.63% |
OTHERS | 681,139,380 | 5.46% |
Total Shareholdings | 12,473,816,140 | 100.00% |
Business Categories
Components Power and System Fans & Thermal Management | EV Powertrain Systems | Industrial Automation Building Automation | ICT Infrastructure Energy Infrastructure Display |
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Smart Green Factory
Green Factory + Smart Energy-saving Monitoring Solutions
Delta Electronics Indoor Environs enLal Quality
Thailand Plant 5 (HQ)
Thailand's 1" Green Induslrial Factory
I I I
{2014-2024)
31,945,302 kWh
Generation (2D16-2024)
(2014-2024)
15B rrP
Accumulated CQ Erriss xs
Reduc0on (2014-2D24)
41,169 tCQe
Delta Solutions Address Global MegatrendsGeopolitics
Climate Impact
Moving Towards Net Zero Goals
ASEAN as the World Factory
Rapid Expansion of Infrastructure
Datacenter/ Semicon Investments in SEA
AI AdoptionAutomotive Energy
Infrastructure
Industrial
Automation
Building Automation
Datacenter
Rapid Urbanization Power Electronics
Power & System
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InfrastructureICT Infrastructure
UPS & Data Center Infrastructure
Micro Data Centers
Modular Data Centers
Power Train Units
Data Center Infrastructure Management (DCIM)
UPSs
Delta Confidential
16
Converged Power Systems
Precision Cooling
Power Distribution Units (PDU)
In Room Lithium-ion Battery Cabinet
Racks
48/12Vdc Power Cores
6ELTJ
Power ElectronicsFans & Thermal Management
Power Device
High Voltage Battery
Fast Charge Module
Aux Inverter
Traction Motor
Traction Inverter
Battery Junction
Box
VQM
12V Battery
DC/DC
On-board
Delta Electric Vehicle SolutionsOff-board
V2X
Bi-directional Charger
DC Fast Charger
AC
Wallbox Charger
AC
Cord Set
On-board Charger
2030 Lighter, Smaller & High Power
2025
Delta Product 2016
Delta Thermal Management Products
Delivering Value Add for Stakeholders
Shareholders
Customer
High Value Added Products/ Solutions
Employee
Supplier
Community
Good Returns
Well-being
Partnership
Give Back
A Business Built on Sustainability
Mission Statement
"To provide innovative, clean and energy-efficient solutions for a better tomorrow."
Environmental, Social, Governance
Innovation
Eco-efficient operation
Partnership
Delta Thailand Recognition
3Q/FY2025 Financial Performance
Products | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | 2Q24 | 3Q24 | 4Q24 | 1Q25 | 2Q25 | 3Q25 | 9M23 | 9M24 | 9M25 | 2020 | 2021 | 2022 | 2023 | 2024 | ||
Power Electronics | 495 | 549 | 583 | 556 | 554 | 613 | 681 | 654 | 725 | 751 | 1,082 | 1,627 | 1,849 | 2,558 | 1,048 | 1,506 | 1,957 | 2,183 | 2,503 | ||
Mobility | 231 | 278 | 372 | 299 | 305 | 317 | 324 | 302 | 287 | 294 | 235 | 880 | 946 | 817 | 207 | 397 | 605 | 1,179 | 1,248 | ||
Infrastructure | 183 | 158 | 147 | 145 | 169 | 170 | 182 | 210 | 199 | 249 | 290 | 488 | 521 | 738 | 686 | 630 | 686 | 633 | 731 | ||
Automation | 30 | 29 | 25 | 25 | 27 | 27 | 32 | 32 | 33 | 37 | 40 | 85 | 87 | 109 | 54 | 66 | 86 | 110 | 119 | ||
Others | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 3 | 4 | 3 | 2 | 8 | 4 | 4 | 3 | 4 | 3 | ||
Sale Revenue | 940 | 1,014 | 1,129 | 1,027 | 1,057 | 1,128 | 1,219 | 1,199 | 1,245 | 1,334 | 1,652 | 3,083 | 3,404 | 4,231 | 1,999 | 2,603 | 3,337 | 4,109 | 4,604 | ||
YoY Growth | 27% | 25% | 33% | 9% | 12% | 11% | 8% | 17% | 18% | 18% | 36% | 29% | 10% | 24% | 22% | 30% | 28% | 23% | 12% | ||
Gross Profit | 195 | 237 | 257 | 241 | 232 | 310 | 347 | 274 | 321 | 339 | 498 | 689 | 888 | 1,159 | 488 | 539 | 791 | 930 | 1,162 | ||
20.8% | 23.3% | 22.8% | 23.5% | 21.9% | 27.5% | 28.4% | 22.8% | 25.8% | 25.4% | 30.2% | 22.3% | 26.1% | 27.4% | 24.4% | 20.7% | 23.7% | 22.6% | 25.2% | |||
Operating Profit | 97 10.4% | 132 13.0% | 144 12.8% | 127 12.4% | 111 10.5% | 162 14.4% | 169 13.9% | 67 5.6% | 168 13.5% | 157 11.8% | 267 16.1% | 373 12.1% | 443 13.0% | 591 14.0% | 215 10.7% | 186 7.2% | 412 12.3% | 500 12.2% | 510 11.1% | ||
Net Profit | 106 11.3% | 134 13.2% | 154 13.6% | 131 12.7% | 120 11.4% | 178 15.8% | 167 13.7% | 64 5.3% | 161 12.9% | 139 10.5% | 229 13.9% | 394 12.8% | 465 13.7% | 529 12.5% | 225 11.3% | 219 8.4% | 434 13.0% | 524 12.8% | 529 11.5% | ||
YoY Growth | 26% | 9% | 36% | 15% | 14% | 33% | 9% | (51%) | 34% | (22%) | 37% | 23% | 18% | 14% | 139% | (3%) | 108% | 21% | 1% | ||
Unit : USD Million
Financial Highlights Revenue Structure & Geographic ProfileSales Revenue (USD million)
2024
2023
2022
2021
2020
140 11.7%12.5%
3.8% 6.0% 1.1% 5.6%
6.6% 6.6% 1.7% 3.4%
7.7% 4.3% 3.9% 1.3%
-1.1%
4.5% 8.4% 5.3%
120
-2.9%
-3.7%
119
100
80
60
40
40
20
21 21 20
-
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25
2020 2021 2022 2023 2024
USD million
Automation
% OP
85
65
23
25
25
28
27
29
30
33
32
32
36
53
110
Segmental Revenue Performance
2,183
USD million Power Electronics % OP
1,957
1,500
1,506
1,000
1,082
1,048
500
448 479 508 522 495
549 583 556 554 613 681 655
726 751
-
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25
2020 2021 2022 2023 2024
2,000
9.9%
2,503
16.0% 15.8%
13.4%
2,500
20.5%19.5%17.8%
16.8%
21.7%
20.9%
23.0%
23.6%
20.2%
19.7% 21.3%21.0% 18.0%
23.8%
20.5% 20.9%
3,000
1,400
0.9% 3.4%
4.1%
6.7%
8.2% 8.0% 7.2% 9.1%
-1.1%
5.3%
8.8%
1.8% 0.3% 0.5%
5.3% 6.6%
1.2%
1,200 -7.2%
-5.0%
-8.0%
1,248
1,179
1,000
800
600
605
400
397
200
205
207
-
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25
2020 2021 2022 2023 2024
USD million Mobility % OP
110
131
159
235
231
294
287
278
302
324
317
305
299
372
% OP
Infrastructure
USD million
2020 2021 2022 2023 2024
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25
-
210 199
188
290
200
400
686
600
800
3.6% 3.5%
3.3% 5.6% 4.5% 3.9% 4.6%
0.1%
8.6% 12.4% 7.5% 7.9%
2.1% 7.0% 5.5% 1.6% 1.7% 5.2%
14.1%
8.0%
1,000
633
686
731
145
147
158
169
161
160
170
177
182
183
249
630
15% 17% 17% 17% 16%
ROE
19% 19%
16% 17% 16% 17%
19% 19%
16%
14%
11%
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25
2020 2021 2022 2023 2024
ROA
19% 19% 19%
16%
17%
20%
30%
26%
27%
26% 27%
24%
25%
30% 30%
32%
28% 30% 28%
26%
26%
31% 32% 32%
Profitability Performance
2.1%
1.4%
11.2%
6.5% 5.8% 6.1% 5.8%
8.4% 9.2%
6.6% 7.5%
5.1% 6.0% 5.7%
9.0%
8.5% 8.9%
7.2%
7.5%
9.1%
6.0% 6.5%
3.3% 3.1% 2.9% 3.3% 3.1% 2.6% 2.6% 2.2% 1.7% 2.4% 2.5% 3.0% 2.9% 3.2% 3.0%
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25
4.2% 3.8% 3.1% 2.6% 2.4%
2020 2021 2022 2023 2024
RD
Selling
Admin
% Total SGA
0.2%
12.0% 11.1% 11.1% 11.1%
9.9% 10.5% 10.0% 11.0%
11.4%
12.7% 13.6% 16.6%
12.0%
13.4% 13.9%
13.7% 13.7% 11.2% 10.4% 13.6%
2.4%
2.2%
2.2% 2.1% 2.0%
1.8%
1.8% 2.2%
1.8%
1.6%
2.9%
2.4%
2.1%
1.9%
1.7% 1.8% 1.7%
12.9%
12.1%
5.6%
10.5%
9.3%
8.0% 12.3%
13.0% 12.8% 12.4%
10.4%
14.4% 13.7%
Net Profit Margin
10.4%
10.7%
13.0% 12.8%11.5%
12.2%11.1%
5.3%
7.2%
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 2Q25
2020 2021 2022 2023 2024
Gross Profit Margin
Operating Profit Margin
24.4%
20.7%
28.4%
30.2%
21.3%
25.3% 23.2% 24.7%
23.3%
20.8%
23.5%
22.8% 21.9%
27.5%
25.8%25.4%
22.8%
12.0%
25.2%
23.7% 22.6%
15.2% 13.3% 13.7%
11.3%
11.3%
13.2% 13.6%
12.7% 11.4%
15.8% 13.9%
16.1%
13.5% 11.7%
13.9%
11.3%
14.0%
EPS (Post-Par Split)
Cash Dividend
EPS
2020 2021 2022 2023 2024
1.48 1.52
0.45 0.46
1.70
0.57 0.54
1.23
0.22 0.34 0.33 0.34 0.29 0.37 0.44 0.38 0.35 0.53 0.47 0.17 0.44 0.37 0.60
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25
3.30
4.00
3.42 3.29 3.36 2.90
2.23
5.69
5.37
Par Split
0.10 THB
Per Share
Par Split
0.10 THB
Per Share
12.30
THB
Smarter. Greener. Together.
ir.th@deltaww.com
To learn more about Delta,
please visit https://www.DeltaThailand.com
or scan the QR code
Products and Solutions
Committed to creating a cleaner and more energy-efficient tomorrow
Success Stories of Delta Group
buildings at a university in
voLvoestablished Della's charging stations et various dealership locations
ir Japan.
2MW/1MWh Energy Storage System for Xia Xtng Power Station on Kinmen Island
Providing L Carbon and Sustainable Smart Community Management Retfom for poll of Talchung
Delta heIp& with intelligent management of elations ak›ng the ChengDu-
imp ngpassen oomtoctandexpeñemce.
deaignecl for FLYCO, comprehensively enhancing the intelligence of the production fine
Delta Communication Charging Station and Charging Managemem
Shanghai Deta Cwrter.
OU toor telecom Power Renewable energy sokrtioris solutions with integrated for 104 Hospitals in Zimbabwe PV systems for e telecom under the UhIDP's program
Mobile plant-growing Control system f9ciIiIa1ing agñcultural automation in New Zealand
Delta DP BK Projection
for Lortgfu ^empIa cuHural k•sure district in Beijing
hELTJ
Energy Savings for CustomersFrom 2010 to 2023,
Delta's high-efficiency products and solutions helped customers:
30 Delta Confidential