Taiwan · Delayed Price · Currency is TWD GlobalWafers Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw gradual recovery in the semiconductor market, with revenue down 3.57% QoQ and gross margin impacted by higher costs and ramp-up expenses. Expansion projects are entering the ramp-up phase, government subsidies have strengthened the balance sheet, and pricing improvements are expected in H2 2026.
Fiscal Year 2025
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2025 saw stable operations and margin recovery as new capacities ramped up, with AI and renewable energy driving growth. 2026 revenue is expected to be flat or slightly higher, with improving gross margins and declining CapEx, while geopolitical and market risks remain under close watch.
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Q3 2025 saw revenue and margins decline due to new fab ramp-ups and higher costs, but strong progress in global expansion, government subsidies, and advanced material innovation position the company for future growth. Overcapacity persists, but demand for advanced nodes and memory is improving.
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Q2 2025 saw revenue and profitability growth despite margin pressure from expansion costs and FX headwinds. Advanced node and specialty wafer demand remain strong, with global expansion and government subsidies supporting long-term growth. H2 2025 is expected to be flat or slightly better than H1, with 2026 showing gradual improvement.
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Q1 2025 revenue grew 3.4% year-over-year to NT$15.6 billion, with margins pressured by expansion-related depreciation and Siltronic losses. Global capacity expansion is on track, with US, Europe, and Asia projects progressing and a positive long-term outlook despite tariff and macroeconomic uncertainties.
Fiscal Year 2024
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GlobalWafers and SAS reported strong 2024 results despite industry headwinds, with robust margins and high dividend payouts. Both expect sequential growth in 2025, driven by AI, advanced packaging, and renewable energy demand, while managing risks from tariffs, power costs, and market volatility.
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Q3 2024 saw sequential revenue growth but a year-over-year decline, with gross margin pressured by higher costs and weak silicon carbide demand. US and Italy expansions are supported by major government subsidies, and a market recovery is expected in 2025 as advanced wafer demand rises.
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Q2 2024 saw a return to revenue growth despite an earthquake and cyberattack, with strong risk management and global expansion supported by major government grants. Gross margin and EPS were impacted by one-time events, but a gradual recovery and improved profitability are expected from 2025.