ASE Technology Holding(US:ASX) Prnewswireยท2024-04-25 06:45Core Insights - ASE Technology Holding Co., Ltd. reported unaudited net revenues of NT$132,803 million for Q1 2024, representing a year-over-year increase of 1.5% but a sequential decrease of 17.3% [1] - The net income attributable to shareholders for the quarter was NT$5,682 million, down from NT$5,817 million in Q1 2023 and NT$9,392 million in Q4 2023 [1][3] - Basic earnings per share for Q1 2024 were NT$1.32 (US$0.084 per ADS), compared to NT$1.36 in Q1 2023 and NT$2.18 in Q4 2023 [1][3] Financial Performance - Net revenues from packaging operations, testing operations, EMS operations, and others accounted for approximately 45%, 9%, 45%, and 1% of total net revenues, respectively [2] - Cost of revenues for the quarter was NT$111,935 million, down from NT$134,820 million in Q4 2023 [2] - Gross margin decreased by 0.3 percentage points to 15.7% in Q1 2024 from 16.0% in Q4 2023, while operating margin was 5.7% compared to 7.4% in Q4 2023 [2] ATM and EMS Operations - In ATM operations, net revenues were NT$73,908 million, up by 0.8% year-over-year but down by 9.9% sequentially [4] - For EMS operations, net revenues were NT$59,365 million, reflecting a year-over-year increase of 2.8% but a sequential decrease of 25.0% [5] - Gross margin for ATM operations decreased to 21.0% in Q1 2024 from 23.4% in Q4 2023, while EMS operations saw an increase in gross margin to 9.3% from 8.4% in Q4 2023 [4][5] Customer Concentration - The five largest customers accounted for approximately 46% of total net revenues in Q1 2024, up from 44% in Q4 2023 [7] - In EMS, the five largest customers represented about 67% of total net revenues in Q1 2024, down from 72% in Q4 2023 [8] Capital Expenditures and Liquidity - Capital expenditures in Q1 2024 totaled US$228 million, with US$109 million allocated to packaging operations and US$97 million to testing operations [6] - The current ratio was 1.19 and the net debt to equity ratio was 0.36 as of March 31, 2024 [6]