Chroma ATE (2360) Q4 2025 earnings summary

Executive summary

• Consolidated sales reached NT$28.3 billion in 2025, up 31% year-over-year, with net income of NT$11.9 billion and EPS of NT$27.70; both Test Instruments & ATS and Semiconductor/Photonics segments posted strong growth, driven by AI, EV/ESS, and advanced semiconductor markets.

• Fourth quarter 2025 sales hit a record NT$8.58 billion, up 34% quarter-over-quarter and 42% year-over-year, with net income of NT$2.65 billion, driven by testing equipment (96% of sales).

• Financial statements for 2025 were audited with an unmodified opinion, confirming compliance with IFRS and local regulations.

Financial highlights

• Gross margin improved to 61% in 2025, up from 59% in 2024; Q4 gross margin was NT$5.2 billion, up 36% quarter-over-quarter and 45% year-over-year.

• Operating income for 2025 was NT$9.2 billion, up 68% year-over-year; Q4 operating income was NT$3 billion, up 62% quarter-over-quarter and 92% year-over-year.

• Free cash flow reached NT$6.7 billion, a 131% increase year-over-year.

• Total assets grew to NT$47.15 billion at year-end 2025, up from NT$37.31 billion in 2024.

Outlook and guidance

• Strong order book and continued growth expected in AI server power, HVDC adoption, ESS, and advanced semiconductor markets for 2026.

• Preparing for adoption of new IFRS standards, with no material impact expected.