ChipMOS TECHNOLOGIES (8150) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was NT$5,532.3 million, up 2.5% sequentially and 2.1% year-over-year, with net profit of NT$176.3 million, down 24.1% from Q4 2024 and 59.7% year-over-year.

• Gross margin declined to 9.4%, flat sequentially but down 4.8 percentage points year-over-year.

• EPS was NT$0.24, down from NT$0.32 in Q4 2024 and NT$0.60 in Q1 2024.

• Operating profit margin was 2.1%, flat sequentially but down 4.6 percentage points year-over-year.

• Focus remains on execution, customer support, and maintaining appropriate capacity.

Financial highlights

• EBITDA for Q1 was NT$1,425 million, up from Q4 2024 but down from Q1 2024.

• Net profit attributable to the company was NT$176 million; net margin was 3%, down from 8% year-over-year.

• Cash and cash equivalents at quarter-end were NT$13,566 million.

• Free cash inflow for Q1 was NT$831 million, up from NT$800 million year-over-year.

• CapEx in Q1 was NT$570 million; depreciation expenses were NT$1,309 million.

Outlook and guidance

• Memory product momentum expected to outperform DDIC in Q2 and the second half of 2025.

• Stable prices and positive growth anticipated in commodity and niche DRAM, with flash rebounding.

• Conservative CapEx strategy for 2025, with investments based on customer demand and utilization.

• Ongoing monitoring of trade policy impacts, with current low to no impact from tariffs or China restrictions.

• Small panel DDIC utilization rates are improving as customers restock for smartphones.