ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the First Quarter of 2025

Core Viewpoint - ASE Technology Holding Co., Ltd. reported a net revenue of NT$148,153 million for Q1 2025, reflecting an 11.6% increase year-over-year but an 8.7% decrease sequentially. The net income attributable to shareholders was NT$7,554 million, up from NT$5,660 million in Q1 2024 but down from NT$9,312 million in Q4 2024 [1][3][16]. Financial Performance - Net Revenues: NT$148,153 million in Q1 2025, up 11.6% YoY, down 8.7% QoQ [1][16]. - Net Income: NT$7,554 million in Q1 2025, up from NT$5,660 million in Q1 2024, down from NT$9,312 million in Q4 2024 [1][16]. - Earnings Per Share: Basic EPS of NT$1.75 (US$0.106) and diluted EPS of NT$1.64 (US$0.100) for Q1 2025 [1][16]. Revenue Breakdown - ATM Operations: Net revenues of NT$86,668 million, up 17.3% YoY, down 1.9% QoQ [5][15]. - EMS Operations: Net revenues of NT$62,295 million, up 4.9% YoY, down 16.8% QoQ [5][18]. Cost Structure - Cost of Revenues: NT$123,260 million for Q1 2025, down from NT$135,633 million in Q4 2024 [6][16]. - Raw Material Costs: NT$72,343 million, representing 49% of total net revenues [6]. - Labor Costs: NT$16,997 million, representing 11% of total net revenues [6]. Margins - Gross Margin: Increased to 16.8% in Q1 2025 from 16.4% in Q4 2024 [6]. - Operating Margin: Decreased to 6.5% in Q1 2025 from 6.9% in Q4 2024 [6]. Non-Operating Items - Net Interest Expense: NT$1,256 million [6]. - Net Foreign Exchange Loss: NT$1,675 million, primarily due to the appreciation of the U.S. dollar against the New Taiwan dollar [6]. - Net Gain on Valuation of Financial Assets: NT$2,873 million [6]. Customer Concentration - The top five customers accounted for approximately 44% of total net revenues in Q1 2025, with two customers each contributing over 10% [12]. - The top ten customers contributed 61% of total net revenues in Q1 2025, compared to 60% in Q4 2024 [12]. Capital Expenditures - Equipment capital expenditures in Q1 2025 totaled US$892 million, with significant allocations to packaging and testing operations [12]. Liquidity and Capital Resources - Current ratio was 1.04 and net debt to equity ratio was 0.41 as of March 31, 2025 [12]. - Total unused credit lines amounted to NT$358,413 million [12]. Company Overview - ASE Technology Holding Co., Ltd. is a leading provider of semiconductor manufacturing services, offering comprehensive solutions in assembly and testing, with a global presence across multiple countries [9].