Ase Technology Holding Co., Ltd. · TWSE:3711
Ase Technology — Q4 2025 Earnings Presentation
21 slides from Ase Technology's earnings presentation, Feb 5, 2026
Slide 1: Fourth Quarter 2025 Earnings Release
Fourth Quarter 2025 Earnings Release ASE Technology Holding 5 February, 2026
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
Slide 3: Market Dynamics and Positioning
Market Dynamics and Positioning ◼ Mega Trend and Future Opportunities ⚫ AI supercycle continues ⚫ Physical layers via edge applications ⚫ Mainstream business recovery ◼ ASE and the Taiwan Cluster ⚫ Leadership in manufacturing ⚫ AI key driver is system optimization, Taiwan has the full supply chain ⚫
Slide 4: 2025 Recap
2025 Recap (in US dollar terms) ◼ Consolidated revenue grew 12% YoY in 2025, with ATM revenue up 23% YoY led by LEAP services and testing business. ◼ LEAP services reached US$1.6 billion, accounting for 13% of ATM revenue, up from US$0.6 billion in 2024 or 6% of ATM revenue. General segment grew 13%
Slide 5: 2026 Outlook
2026 Outlook (in US dollar terms) ◼ Expect revenue uptrend to continue into 2026 and beyond, driven by leading-edge solutions and broad-based semiconductor demand related to AI proliferation and general market recovery. ◼ For ATM business, LEAP services to double from US$1.6 billion to US$3.2 billio
Slide 6: Consolidated Statements of Income (Quarterly)
Consolidated Statements of Income Quarterly Comparison (Unaudited) (NT$ million) Q4 / 2025 % Q3 / 2025 % Q4 / 2024 % QoQ YoY Net Revenues: ATM 108,666 61.1% 99,393 59.0% 87,208 53.7% 9% 25% EMS 68,555 38.5% 68,405 40.6% 74,243 45.8% 0% -8% Others 694 0.4% 771 0.4% 813 0.5% -10% -15% Total Net Revenu
Slide 7: Consolidated Statements of Income (Yearly)
Consolidated Statements of Income Yearly Comparison (unaudited) (NT$ million) FY / 2025 % FY / 2024 % YoY Net Revenues: ATM 385,314 59.7% 321,291 54.0% 20% EMS 257,193 39.9% 271,293 45.5% -5% Others 2,881 0.4% 2,826 0.5% 2% Total Net Revenues 645,388 100.0% 595,410 100.0% 8% Gross Profit 114,193 17.
Slide 8: Consolidated Operations
Consolidated Operations (Unaudited) NT$ million 180,000 30% 150,000 68,555 68,405 120,000 74,871 74,243 58,374 59,326 62,853 61,860 19.5%20% 16.4% 16.5% 16.4% 16.8% 17.0% 17.1% 90,000 15.7% 9.9% 60,000 6.8% 7.8% 10% 7.2% 6.9% 6.5% 99,393 108,666 5.6% 6.4% 91,648 84,545 87,208 85,606 72,862 76,676 30
Slide 9: ATM Statements of Income (Quarterly)
ATM Statements of Income Quarterly Comparison (Unaudited) (NT$ million) Q4 / 2025 % Q3 / 2025 % Q4 / 2024 % QoQ YoY Net Revenues: Packaging 87,397 79.7% 80,602 80.4% 71,342 80.7% 8% 23% Testing 20,863 19.0% 18,420 18.3% 15,713 17.8% 13% 33% Direct Material 1,352 1.2% 1,190 1.2% 1,233 1.4% 14% 10% Ot
Slide 10: ATM Statements of Income (Yearly)
ATM Statements of Income Yearly Comparison (unaudited) (NT$ million) FY / 2025 % FY / 2024 % YoY Net Revenues: Packaging 311,799 80.1% 265,858 81.6% 17% Testing 71,900 18.5% 54,562 16.7% 32% Direct Material 5,191 1.3% 5,130 1.5% 1% Others 338 0.1% 325 0.1% 4% Total Net Revenues 389,228 100.0% 325,87
Slide 11: ATM Operations
ATM Operations (Unaudited) NT$ million 120,000 109,707 40% 100,289 100,000 92,565 85,790 88,363 86,668 28,824 22,697 30% 77,813 20,248 80,000 73,908 20,609 19,795 19,611 17,201 26.3% 15,557 60,000 23.1% 23.3% 22.6% 22.6% 20% 22.1% 21.9% 21.0% 40,000 10% 20,000 0 0% Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/2
Slide 12: ATM Revenues by Application
ATM Revenues by Application (Unaudited) 100% 30% 32% 32% 30% 30% 30% 30% 30% 80% 60% 18% 18% 17% 22% 19% 24% 25% 25% 40% 52% 49% 50% 53% 48% 20% 46% 45% 45% 0% Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Communication Computing Automotive, Consumer & Others 12
Slide 13: ATM Revenues by Type
ATM Revenues by Type (Unaudited) 100% 2% 2% 2% 1% 2% 2% 2% 1% 16% 16% 16% 18% 18% 18% 18% 19% Material 80% 7% 8% 9% 7% 6% 5% 6% 7% Testing 60% 27% 28% 28% 26% 24% 30% 31% 29% Others 40% Wirebonding 45% 47% 46% 47% 48% 49% Bump/FC/WLP 20% 43% 44% /SiP 0% Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/2
Slide 14: EMS Operations
EMS Operations Quarterly/Yearly Comparison (unaudited) (NT$ million) Q4 / 2025 % Q3 / 2025 % Q4 / 2024 % QoQ YoY EMS Net Revenues 68,991 100.0% 69,022 100.0% 74,895 100.0% 0% -8% Gross Profit 6,239 9.0% 6,379 9.2% 6,182 8.3% -2% 1% Operating Income (Loss) 1,959 2.8% 2,541 3.7% 1,986 2.7% -23% -1% (N
Slide 15: EMS Operations: Quarterly Revenues by Application
EMS Operations Quarterly Revenues by Application (unaudited) 100% 3% 3% 1% 2% 2% 2% 2% 2% 11% 9% 8% 10% 9% 7% 8% 12% 11% 11% 12% 14% 12% 13% 80% 12% 13% 60% 27% 36% 33% 33% 29% 32% 40% 36% 40% 12% 9% 11% 9% 10% 10% 11% 9% 20% 37% 34% 33% 34% 33% 33% 30% 30% 0% Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/
Slide 16: Key Balance Sheet Items & Indices
Key Balance Sheet Items & Indices (Unaudited) (NT$ million) Dec. 31, 2025 Sept. 30, 2025 Cash and cash equivalent $92,469 $75,142 Financial assets - current 9,514 8,270 Financial assets - non current & investments - equity method 45,677 41,678 Property, plant & equipment 421,115 397,195 Total assets
Slide 17: Equipment Capital Expenditures vs. EBITDA
Equipment Capital Expenditures vs. EBITDA (Unaudited) US$ million 1,400 1,242 1,200 1,095 992 1,000 895 892 888 879 811 843 765 779 800 733 603 640 600 406 400 228 200 0 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q3/25 Q4/25 Capex EBITDA 17
Slide 18: First Quarter 2026 Outlook (1/2)
First Quarter 2026 Outlook (1/2) Based on our current business outlook and exchange rate assumptions of 1 US dollar to 31.4 NT dollars (versus 30.9 in 4th quarter 2025), management projects overall performance for the first quarter of 2026 to be as follows: ◼Consolidated • In NT dollar terms, our co
Slide 19: First Quarter 2026 Outlook (2/2)
First Quarter 2026 Outlook (2/2) Based on our current business outlook and exchange rate assumptions of 1 US dollar to 31.4 NT dollars (versus 30.9 in 4th quarter 2025), management projects overall performance for the first quarter of 2026 to be as follows: ◼ATM • In NT dollar terms, our ATM 1st qua
Slide 20: Thank you
Thank you
Slide 21: Consolidated Statements of Comprehensive Income
Appendix 1 Consolidated Statements of Comprehensive Income (Unaudited) (NT$ thousand) Q1/ 2025 1&2 Q2/ 2025 1&2 Q3/ 2025 1&2 Q4/ 2025 1&2 FY/ 2025 1&2 Revenues 148,153,262 150,750,323 168,568,888 177,915,165 645,387,638 COGS 123,260,526 125,062,803 139,692,147 143,179,289 531,194,765 PPA under COGS
ASE Technology Holding — Q4 2025 Earnings Presentation on 6ix