Advantech — Investor Presentation 2026

May 14, 2026

ADVANTECH

Enabling an Intelligent Planet

Advantech 1Q26 Online Investor Conference

研華2026年第一季法人說明會

6th May, 2026

Edge Computing & AI-Powered WISE Solutions

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Safe Harbor Notice

• Advantech’s statement of its current expectations are forward-looking statements which are subject to significant risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements.

• The projections should not be interpreted as legally binding commitments, but rather as flexible information subject to change occasionally.

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1Q26 Financial Results

(單位：美金 百萬元)	1Q 2026	%	4Q 2025	%	QQQ	1Q 2025	%	YoY
營業收入	20,385	100.0%	17,921	100.0%	14%	17,351	100.0%	17%
營業毛利	7,980	39.1%	7,129	39.8%	12%	7,028	40.5%	14%
營業費用	4,251	20.9%	4,318	24.1%		4,104	24%
營業利益	3,728	18.3%	2,811	15.7%	33%	2,924	16.9%	28%
營業外收入	340	1.7%	870	4.9%		316	1.8%
稅前獲利	4,068	20.0%	3,681	20.5%	11%	3,240	18.7%	26%
所得稅費用	750	3.7%	587	3.3%		549	3.2%
稅後淨利歸屬母公司	3,334	16.4%	3,103	17.3%	7%	2,734	15.8%	22%
每股盈餘 (NT$)	3.85		3.58			3.17

1Q26

• 第一季營收季比及年比均分別雙位數增，同時營收也創單季新高。
• 單季毛利率年比微幅衰退，主因原物料成本漲價效應影響，然營業利益率在營業費用控制得當下年增28%。
• 第一季有效稅率為18.4%。

ADANTECH

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1Q26地區營收表現

(單位：美金 佰萬元)	1Q26	1Q25	YoY %	Rev %
北美地區	184	163	+13%	29%
歐洲地區	106	89	+19%	16%
中國地區	153	111	+38%	24%
北亞地區	56	49	+15%	9%
台灣地區	55	31	+75%	8%
其他亞洲及新興市場	62	52	+24%	10%
其他	28	33	+153%	4%
總計	644	528	+22%	100%
6%	Others	4%
---	---	---
10%	AlnterCon	10%
6%	Taiwan	8%
9%	North Asia	9%
21%	China	24%
17%	Europe	16%
31%	North America	29%
1Q25		1Q26

北亞地區

US$mn	1Q26	YoY
AJP	29	-3.7%
AKR	27	+44.2%

其他亞洲及新興市場

US$mn	1Q26	YoY
AAU/NZ	3	+2%
ASEAN	20	+70%
India	6	+0%
Russia & CIS	1	-44%
LATAM	5	+19%
ME&A	27	+8%

ADANTECH

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1Q26 各事業群營運表現

(單位：美金 佰萬元)		Revenue	Rev. %	YoY	Gross Margin	Operating Profit	OP Margin
物聯網自動化事業群	(iAutomation)	47	7%	+19%	65%~70%	20	42%
智能系統事業群	(iSystems)	234	36%	+19%	40%~45%	63	27%
嵌入式事業群	(Embedded)	222	35%	+15%	30%~35%	54	25%
智能服務事業群	(iService)	40	6%	+3%	35%~40%	2	6%
Advantech Service+ /Others	(AS+)	101	16%	+66%	20%~25%	15	15%
總計		644	100%	+22%	39.1%	118*	18.3%

• unallocated expenses -$36M

• iAutomation YoY +19%: 受惠中國及歐洲通路需求強勁回溫。

• iSystems YoY +19%: 受惠北美、中國及台灣半導體設備及交通專案出貨挹注，同時資料中心在北美相關專案成長強勁。
• Embedded YoY +15%: 受惠北美、歐洲及中東市場醫療設備強勁出貨挹注，以及歐洲市場通路客戶需求雙位數增長。
• iService YoY +3%: 受惠歐洲及中東之醫療專案帶動及AURES業務成長挹注，然北美醫療及零售需求疲緩。

ADANTECH

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資產負債表與關鍵指數

| NT$ mn | 1Q26
Amount | % | 4Q25
Amount | % | 1Q25
Amount | % |
| --- | --- | --- | --- | --- | --- | --- |
| Cash & Cash Equivalents | 20,511 | 24% | 19,181 | 25% | 21,273 | 29% |
| Account receivable | 12,279 | 13% | 10,535 | 14% | 10,689 | 14% |
| Inventory | 15,389 | 18% | 11,835 | 16% | 10,838 | 15% |
| Total Assets | 83,769 | 100% | 75,718 | 100% | 74,383 | 100% |
| Account payable | 11,302 | 13% | 7,681 | 10% | 7,398 | 10% |
| ST debt | 385 | 0% | 291 | 0% | 344 | 0% |
| LT debt | 1,648 | 2% | 1,617 | 2% | 1,809 | 3% |
| Total Liabilities | 34,044 | 41% | 20,669 | 27% | 26,884 | 36% |
| Total Equity | 49,725 | 59% | 55,049 | 73% | 47,499 | 64% |
| Key Indices | | | | | | |
| Inventory turnover days | 97 | | 96 | | 95 | |
| AR turnover days | 51 | | 53 | | 54 | |
| AP turnover days | 69 | | 62 | | 63 | |
| CCC (cash conversion cycle) | 84 | | 84 | | 86 | |

ADANTECH

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2Q26 營運展望

基於當前營運狀況與平均匯率NT$31.5的假設，研華公司預期2026年第二季的營運展望如下

項目	2Q26 預估數
合併營收	US$ 650M ~ US$ 670M
毛利率	38.0% ~ 40.0%
營業利益率	16.0%~18.0%

ADVANTECH

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ADVANTECH

Enabling an Intelligent Planet

Edge Computing & AI-Powered WISE Solutions

www.advantech.com

IR@advantech.com.tw