ChipMOS TECHNOLOGIES (8150) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue was NT$5,736 million, up 3.7% sequentially but down 1.3% year-over-year, driven by strong memory product demand despite softness in auto and industrial segments and currency headwinds.

• Net loss per share was NT$0.75, mainly due to significant foreign exchange losses, with net loss attributable to shareholders of NT$533 million.

• Utilization rates improved in memory products, with assembly at 64% and test at 67%.

• For the first half of 2025, revenue was NT$11,268 million, nearly flat year-over-year, but net loss was NT$357 million due to FX losses and lower margins.

• Significant foreign exchange losses and lower gross margin contributed to negative results.

Financial highlights

• Q2 2025 EBITDA: NT$1,302 million; gross margin: 6.6% (down 2.8ppts QoQ, 7.4ppts YoY); operating profit: NT$21 million (margin 0.4%).

• Net loss attributable: NT$533 million; net non-operating expense of NT$682 million, mainly from NT$690 million FX loss.

• Free cash flow for 1H25 was NT$1,667 million, up from NT$1,433 million in 1H24.

• Cash and equivalents at Q2-end: NT$13,662 million, down from NT$15,219 million at year-end 2024.

• Gross profit for H1 2025 was NT$897 million, down from NT$1,586 million YoY.

Outlook and guidance

• Cautious end consumer demand expected in Q3 due to global economic uncertainty and early restocking.

• Strong demand anticipated from data center, communications, AI, auto, and robotics in H2 2025; memory product momentum expected to outperform DDIC.

• OSAT price increases of 5%-18% to offset material cost rises; OLED and automotive panel demand stable.

• Foreign exchange impact expected to be less severe in Q3.

• Ongoing share repurchases and capital investments indicate a focus on long-term positioning.