Taiwan · Delayed Price · Currency is TWD ASE Technology Holding Earnings Call Transcripts
Fiscal Year 2026
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Record Q3 revenue and profit reflected strong LEAP mix and utilization. Capacity constraints are driving higher investment, with further margin gains and strong LEAP, full-process, and CPO growth expected into 2027.
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Revenue and profit surged in Q2 2026, led by strong ATM and LEAP growth, with margins expanding and capacity highly utilized. Heavy CapEx and facility expansion continue to address AI-driven demand, with guidance for further revenue and margin growth into 2027.
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Q1 2026 delivered strong year-over-year growth in revenue and profit, led by robust ATM and LEAP services performance, while EMS faced expected seasonal softness. CapEx was raised to support LEAP expansion, with further growth and margin improvement expected in the second half.
Fiscal Year 2025
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Revenue and profit surged in 2025, led by strong ATM and LEAP business growth, with margins expanding on higher utilization and favorable product mix. 2026 outlook is robust, with aggressive CapEx planned to meet AI-driven demand and further margin improvement expected.
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Third quarter results exceeded expectations with strong growth in both ATM and EMS, driven by high utilization and robust AI-related demand. Margins improved despite FX headwinds, and full-year ATM revenue is set to grow over 20% in USD terms.
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Revenue and profit grew year-over-year in Q2 2025, led by advanced packaging and testing, though FX headwinds pressured margins. CapEx was increased to meet strong AI-driven demand, with management confident in returning to structural margins by 2026.
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Q1 saw strong year-over-year growth in revenues and margins, led by advanced packaging and test services, with robust AI-driven demand. Q2 guidance anticipates further ATM growth and margin expansion, while EMS faces seasonal softness. CapEx and margin targets for 2025 remain unchanged.
Fiscal Year 2024
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Revenues grew 2% in 2024, led by strong gains in leading-edge advanced packaging and testing, with further acceleration and significant CapEx planned for 2025. Margins improved modestly, and the company is investing heavily to support AI-driven demand and smart factory expansion.
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Third quarter results showed sequential and annual growth in revenue and profit, driven by leading-edge advanced packaging and strong test business momentum. Capital expenditures are rising to support future growth, with leading-edge revenues expected to more than double in 2025.
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Q2 2024 saw strong growth in leading-edge products and investments, while traditional segments lagged. Revenue and margins improved sequentially, but full-year growth is now expected to be moderate due to slower market recovery. Leading-edge packaging and test revenue is set to double this year and next.
Fiscal Year 2023
Fiscal Year 2022
Fiscal Year 2021
Fiscal Year 2020
Fiscal Year 2019
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Q4 revenue rose 2% YoY and net income reached TWD 6.4B; FY2019 revenue grew 4% pro forma. The 2020 outlook anticipated growth and margin recovery, but coronavirus-related labor and supply-chain disruptions made forecasts unusually uncertain.
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Q3 revenue hit a record TWD 117.6B as ATM and EMS rebounded, though higher EMS mix weighed on margins. Management expected stronger-than-normal ATM seasonality and materially stronger margins in Q1 2020, amid tariff and demand uncertainty.
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Q2 revenue rose 2% QoQ but fell 1% YoY, with ATM and test improving while EMS margins faced investment and loading pressures. H2 growth was expected, tempered by trade and demand uncertainty.
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Q1 pro forma revenue was TWD 88.9bn, down 22% QoQ, as EMS softness and lower loading pressured profit and margins. Management expected seasonal recovery in H2, while maintaining cautious outlook and investing in advanced packaging and test.
Fiscal Year 2018
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2018 pro forma revenue reached a record US$8.2B, while Q4 net income fell amid higher non-operating costs and EMS mix pressure. 2019 growth and investment plans center on SiP, fan-out, test, and diversified capacity, despite macro uncertainty.
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Q3 pro forma revenue rose 17% QoQ, with seasonal ATM and EMS strength lifting gross profit, while net income remained flat YoY. Q4 guidance was mixed: ATM softer, EMS growth moderating, and margins broadly stable.
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Pro forma Q2 revenue rose 9% QoQ to TWD 91.8B, with net income of TWD 3.5B; ATM loading and margins were expected to improve in Q3. PPA charges and integration limits shaped reported results and outlook.