The following is a summary of the ChipMOS TECHNOLOGIES INC. (IMOS) Q4 2023 Earnings Call Transcript:
Financial Performance:
In Q4 2023, revenue increased 22.2% YoY and 2.6% QoQ. Full-year 2023 however reported a decline of 9.2% compared to 2022.
Gross margin for Q4 increased to 20.1%, a significant increase from both Q4 2022 and Q3 2023, but the annual gross margin decreased to 16.6% for 2023 compared to 2022.
Q4 2023 net earnings tripled compared to Q4 2022 but reported a decrease compared to Q3 2023.
Profit attributable to ChipMOS in Q4 2023 decreased 17.0% compared to Q3 2023, due to increased non-operating expenses.
Full-year 2023 reported a 43.8% decrease in net profit compared to 2022.
Business Progress:
ChipMOS navigated through industry headwinds to add capacity and expand leadership.
The company believes the operating momentum will improve in 2024 with the second half performing better than the first half.
The company sees automotive as a strong market and eyes it as a mid and long-term growth area. They also are positive about OLED panels and the new DDIC projects.
The company plans to invest in Green Energy, Automation, Robotics, and AI in 2024.
The company aims to improve product quality and expand high-end product penetration ranged from OLED, automotive panels, and high-end TVs.
Anticipated rebounding NAND Flash demand is expected to contribute to growth, with memory slated to outperform DDIC product momentum in Q1 2024.
A conservative capital expenditure strategy has been planned for 2024, with the expectation of similar outlay to 2023, approximately 15% of annual revenue.
More details: ChipMOS TECHNOLOGIES IR
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