Ase Technology Holding Co., Ltd. · TWSE:3711

Ase Technology — Q4 2024 Earnings Presentation

20 slides from Ase Technology's earnings presentation, Feb 13, 2025

  1. Slide 1: Fourth Quarter 2024 Earnings Release

    Fourth Quarter 2024 Earnings Release ASE Technology Holding 13 February, 2025

  2. Slide 2: Safe Harbor Notice

    Safe Harbor Notice This presentation contains "forward-looking statements" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements are made under the “safe harbor” pr

  3. Slide 3: 2024 Recap

    2024 Recap  Consolidated revenues grew 2% YoY in 2024, with ATM revenues up 3% YoY.  Leading-edge advanced packaging and testing revenues were over US$600 million, accounting for around 6% of ATM revenues, up from US$250 million in 2023.  Our testing business grew 9% YoY in 2024, and in particula

  4. Slide 4: 2025 Outlook

    2025 Outlook  ATM business to outgrow the logic semiconductor market driven by strong momentum of our leading-edge advanced packaging and our testing businesses.  Leading-edge advanced packaging and testing revenues to increase by US$1 billion versus 2024, contributing 10% of growth, while the gen

  5. Slide 5: Market Landscape & ASE Positioning

    Market Landscape & ASE Positioning  Total semiconductor revenues are likely to reach $1 trillion in the next decade.  ASE is well-positioned to benefit from the strong demand of leading-edge advanced technology and the growing volume of peripheral chips on accelerating edge AI adoption.  A compre

  6. Slide 6: Consolidated Statements of Income - Quarterly Comparison

    Consolidated Statements of Income Quarterly Comparison (Unaudited) 2 (NT$ million) Q4 / 2024 % Q3 / 2024 % Q4 / 2023 % QoQ YoY Net Revenues: ATM 87,208 53.7% 84,545 52.8% 80,761 50.3% 3% 8% EMS 74,243 45.8% 74,871 46.8% 79,155 49.3% -1% -6% Others 813 0.5% 689 0.4% 665 0.4% 18% 22% Total Net Revenue

  7. Slide 7: Consolidated Statements of Income - Yearly Comparison

    Consolidated Statements of Income Yearly Comparison (unaudited) (NT$ million) FY / 2024 % FY / 2023 % YoY Net Revenues: ATM 321,291 54.0% 311,131 53.5% 3% EMS 271,293 45.5% 268,218 46.1% 1% Others 2,826 0.5% 2,565 0.4% 10% Total Net Revenues 595,410 100.0% 581,914 100.0% 2% Gross Profit 96,932 16.3%

  8. Slide 8: Consolidated Operations

    Consolidated Operations (Unaudited) NT$ million 180,000 30% 150,000 120,000 79,155 74,871 74,243 20% 60,384 70,948 57,731 62,853 59,326 16.5% 16.4% 16.0% 16.2% 16.0% 15.7% 16.4% 90,000 14.8% 60,000 10% 6.9% 7.4% 7.4% 7.2% 6.4% 84,545 6.9% 5.9% 82,590 5.7% 87,208 72,524 75,256 80,761 72,862 76,676 30

  9. Slide 9: ATM Statements of Income - Quarterly Comparison

    ATM Statements of Income Quarterly Comparison (Unaudited) (NT$ million) Q4 / 2024 % Q3 / 20242 % Q4 / 2023 % QoQ YoY Net Revenues: Packaging 71,342 80.7% 70,290 81.9% 67,378 82.1% 1% 6% Testing 15,713 17.8% 14,124 16.5% 13,363 16.3% 11% 18% Direct Material 1,233 1.4% 1,295 1.5% 1,205 1.5% -5% 2% Oth

  10. Slide 10: ATM Statements of Income - Yearly Comparison

    ATM Statements of Income Yearly Comparison (unaudited) (NT$ million) FY / 2024 % FY / 2023 % YoY Net Revenues: Packaging 265,858 81.6% 260,486 82.7% 2% Testing 54,562 16.7% 49,881 15.8% 9% Direct Material 5,130 1.6% 4,574 1.4% 12% Others 325 0.1% 174 0.1% 87% Total Net Revenues 325,875 100.0% 315,11

  11. Slide 11: ATM Operations

    ATM Operations (Unaudited) NT$ million 100,000 40% 85,790 88,363 83,684 82,004 76,108 77,813 80,000 73,319 73,908 20,609 18,590 19,795 30% 19,218 16,161 15,557 17,201 14,749 60,000 23.4% 23.1% 23.3% 20% 21.2% 22.2% 22.1% 21.0% 40,000 20.1% 10% 20,000 0 0% 2 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24

  12. Slide 12: ATM Revenues by Application

    ATM Revenues by Application (Unaudited) 100% 33% 33% 29% 30% 30% 32% 32% 30% 80% 60% 19% 17% 18% 18% 17% 17% 19% 19% 40% 50% 48% 52% 53% 52% 49% 50% 53% 20% 0% Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Communication Computing Automotive, Consumer & Others 12

  13. Slide 13: ATM Revenues by Type

    ATM Revenues by Type (Unaudited) 100% 1% 2% 1% 2% 2% 2% 2% 1% 16% 16% 15% 16% 16% 16% 16% 18% Material 80% 8% 7% 8% 8% 7% 8% 9% 7% Testing 60% 32% 31% 29% 27% 34% 34% 30% 30% Others 40% Wirebonding 45% 47% Bump/FC/WLP 20% 41% 41% 44% 44% 43% 44% /SiP 0% Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/2

  14. Slide 14: EMS Operations - Quarterly/Yearly Comparison

    EMS Operations Quarterly/Yearly Comparison (unaudited) (NT$ million) Q4 / 2024 % Q3 / 2024 % Q4 / 2023 % QoQ YoY EMS Net Revenues 74,895 100.0% 75,384 100.0% 79,182 100.0% -1% -5% Gross Profit 6,182 8.3% 6,757 9.0% 6,686 8.4% -9% -8% Operating Income (Loss) 1,986 2.7% 2,453 3.3% 2,799 3.5% -19% -29%

  15. Slide 15: EMS Operations - Quarterly Revenues by Application

    EMS Operations Quarterly Revenues by Application (unaudited) 100% 2% 2% 2% 2% 3% 3% 1% 2% 9% 8% 7% 8% 11% 9% 8% 12% 15% 12% 11% 11% 11% 80% 17% 12% 13% 28% 33% 60% 33% 37% 27% 29% 36% 29% 11% 9% 40% 8% 8% 8% 12% 11% 9% 20% 35% 40% 37% 34% 34% 34% 33% 34% 0% Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24

  16. Slide 16: Key Balance Sheet Items & Indices

    Key Balance Sheet Items & Indices (Unaudited) (NT$ million) Dec. 31, 2024 Sept. 30, 20242 Cash and cash equivalent $76,493 $71,711 Financial assets - current 9,376 6,643 Financial assets - non current & investments - equity method 41,810 42,300 Property, plant & equipment 312,531 283,886 Total asset

  17. Slide 17: Equipment Capital Expenditures vs. EBITDA

    Equipment Capital Expenditures vs. EBITDA (Unaudited) US$ million 1,000 885 895 888 895 843 811 781 766 800 640 603 600 406 400 231 239 234 228 209 200 0 2 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Capex EBITDA* 2: As of December 31, 2024, we have completed the purchase price allocation of bus

  18. Slide 18: First Quarter 2025 Outlook

    First Quarter 2025 Outlook Based on our current business outlook and exchange rate assumptions, management projects overall performance for the first quarter of 2025 to be as follows:  In NT dollar terms, our ATM 1st quarter 2025 revenues should decline by mid-single digits quarter over quarter; 

  19. Slide 19: Thank you

    Thank you

  20. Slide 20: Consolidated Statements of Comprehensive Income

    Appendix 1 Consolidated Statements of Comprehensive Income (Unaudited) (NT$ thousand) Q1/2024 3&4 Q2/2024 3&4 Q3/2024 2,3&4 Q4/2024 3&4 FY/2024 3&4 Revenues 132,802,855 140,238,063 160,105,107 162,263,560 595,409,585 COGS 111,981,689 117,183,829 133,679,394 135,632,929 498,477,841 PPA under COGS 954

ASE Technology Holding — Q4 2024 Earnings Presentation on 6ix