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 attributable to the company at NT$176.3 million, down 24.1% sequentially 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 per share, down from NT$0.32 in Q4 2024 and NT$0.60 in Q1 2024.

• Operating profit margin was 2.1%, down 0.1 points sequentially and 4.6 points year-over-year.

• Focus remains on core markets, customer support, and long-term value creation.

Financial highlights

• EBITDA for Q1 2025 was NT$1,425 million, up from Q4 2024 but down from Q1 2024.

• Net non-operating income fell due to lower FX gains.

• Return on equity (annualized) was 2.8% in Q1 2025.

• Cash and cash equivalents at period end were NT$13,565.5 million.

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

Outlook and guidance

• Memory product momentum expected to outperform DDIC in Q2 and the second half of 2025, with DRAM and Flash demand rebounding.

• CapEx will remain conservative, with investments tied to customer demand and utilization.

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

• Uncertainty remains due to fluid U.S.-China trade policies and new tariffs, but current impact is low.