Chroma ATE (2360) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 reached NT$6.87 billion, up 14% sequentially and 55–65% year-over-year, driven primarily by the test equipment business, which contributed 94% of total revenue.

• Net income rose to NT$2.16 billion, up 40% sequentially and 121% year-over-year; EPS was NT$5.03.

• Operating income hit NT$2.16 billion (31% margin), a record high, up 39–40% sequentially and 140% year-over-year.

• Both sales revenue and net income set new record highs for the second consecutive quarter.

• Total comprehensive income for Q1 2025 was NT$2.50 billion, up from NT$1.22 billion in Q1 2024.

Financial highlights

• Gross profit was NT$4.1 billion with a 60% margin, up 15% sequentially and 62% year-over-year.

• EBITDA for Q1 2025 was NT$2.81 billion, up 98% year-over-year.

• Free cash flow for the quarter was about NT$2.0 billion, a 145% increase year-over-year.

• Cash and short-term investments increased 20% to NT$6.05 billion since December 2024.

• Total assets grew to NT$40.14 billion as of March 31, 2025.

Outlook and guidance

• Order backlog supports expectations for another strong quarter in Q2; guidance remains similar to February due to order lead times.

• Management remains cautious for the second half of the year due to macroeconomic and geopolitical uncertainties, including tariffs and currency fluctuations.

• The company is assessing the impact of new IFRS standards effective from 2026.