Integrated Micro-Electronics, Inc.

...laki kita! 

IMI Q2 attributable profit jumps

AYALA-LED Integrated Micro-Electronics, Inc. (IMI) saw its attributable profit jump by 211% in the second quarter of 2018 following a one-time gain from the sale of its property in China.

In a disclosure to the stock exchange on Thursday, the listed global manufacturing firm said net income attributable to equity holders of the parent rose to $26 million in the April to June period, higher than the $8.34 million it generated in the same quarter a year ago.

IMI attributed the increase to the completion of the sale transaction to transfer its Liantang facility to the new Pingshan facility in Shenzhen. This gave the company a net gain of $11 million. Excluding one-offs, the company’s operating income would have increased by 28%.

Revenues for the period climbed 29% to $343 million, as the company benefited from the performance of both its core businesses and recently acquired entities.

This brought the company’s attributable profit for the first half of 2017 to $31.6 million, 85% higher than the $17 million it recorded a year ago, on the back of a 33% uptick in revenues to $668.8 million.

Broken down, IMI’s operations in Europe contributed $170.1 million in revenues, or 29% higher year-on-year. Operations in Mexico generated a 17% increase in revenues to $46.9 million, amid delays in the mass production of its new projects.

China revenues stood at $162.1 million or 27% higher from the same period a year ago, as the company benefited from new industrial application and automotive platforms in the country.

IMI’s Philippine operations contributed revenues worth $136 million, growing by only 5% after the decline in demand for security and medical device business dampened the growth of the automotive camera business and new industrial applications.

Meanwhile, the company’s acquired business in the recent years provided $154.2 million in revenues. This includes $100.3 million from Germany-based VIA Optronics and $53.9 million from United Kingdom’s STI Enterprises.

For the remaining half of the year, the company expects to see continued sales growth from new projects it secured in previous years. However, it also expects challenges such as competition among large companies and higher costs.

The company meanwhile downplayed the effects of the looming trade war between the United States and China on its global business, saying revenues from the markets are only a small part of the group’s revenues.

“We are confident that the recent US-China tariff talks and the Brexit issue will have a minimal effect in our business. Our China to US and UK to EU exports only account for about 4% of IMI’s group revenues. Our global operating sites that are qualified to the same standards are capable of enabling a smooth transfer of business across locations,” IMI Chief Executive Officer Arthur Tan said in a statement.



...worth the invest 'to eh, ultra long term

IMI inaugurates manufacturing facility in Serbia

AYALA-LED Integrated Micro-Electronics, Inc. (IMI) inaugurated its newest manufacturing facility in Serbia last week, as the company expands its global footprint in anticipation of more demand for its products.

The listed subsidiary of AC Industrial Technology Holdings, Inc. said the factory covers 14,000 square meters of manufacturing space in the City of Nis, located in the southeastern part of Serbia. The facility will serve as the extension of its Bulgaria factory in order to support the growing demand market for automotive products in the European region.

“As a partner-of-choice in building technologies like sensing cameras, advanced driver assistance systems, lighting, body control modules, battery management and displays, IMI will be a significant contributor to the digital car of tomorrow,” IMI Chief Executive Officer Arthur R. Tan said in a statement.

Mr. Tan, who also sits as the chief executive officer of AC Industrials, said this will boost the company’s efforts to build a global manufacturing platform that rides on trends such as increased electronics in vehicles, autonomous driving, shift to electric power, and shared mobility.

This will be IMI’s 21st factory across the world, following its production facilities in the Philippines, China, Bulgaria, Czech Republic, Germany, Japan, Mexico, the United Kingdom, and the United States.

The company provides engineering, manufacturing, support, and fulfillment capabilities to various industries such as automotive, industrial electronics, and the aerospace market. It also offers customized solutions for safety and security features in the automotive segment. 


10-31 dollars pa yan! Big Grin

Ayala-led IMI earnings jump 38% in 3rd quarter

AYALA-LED Integrated Micro-Electronics, Inc. (IMI) grew its attributable profit by 38% in the third quarter of 2018.

In a disclosure to the stock exchange on Tuesday, the listed firm said net income attributable to the parent went up to $9.78 million in the three months ending September, from the $7.06 million it recorded in the same period a year ago.

IMI’s nine-month attributable profit surged 72% to $41.35 million, which includes favorable one-off items such as the sale of its Shenzhen entity in China and the reversal of contingent liability for its acquisition of the United Kingdom’s STI Enterprises Limited. The company meanwhile recorded goodwill following the acquisition of its China facilities.

Without the one-off items, IMI’s net income would have stood at $28.9 million, 4.7% higher than its adjusted net income of $27.6 million in the same period a year ago. The company said it was affected by the weaker Chinese yuan and euro which led to foreign exchange losses.

Revenues for the third quarter meanwhile rose by 16% to $342.71 million, bringing the nine-month figure 27% higher to $1.01 billion.

The company noted that gross profit margin drop to 10.6% from 11% last year, weighed down by higher material, production, and logistics costs due to global component shortage.

“The fast-paced evolution of automotive and industrial segments resulting to unexpected demand for components is creating pressure in constrained markets. As we face the current challenges, IMI continues to strive in setting the bar to key technological advancements and remain ahead of the curve,” IMI Chief Executive Officer Arthur Tan said in a statement.

IMI said it recently inaugurated its facility in Serbia which will enhance its manufacture of electronic car components. The company is banking on the factory to improve its position in the automotive electronics manufacturing services (EMS) market.

Aside from its core business, the company is venturing into copper-based metal mesh touch sensors to boost its portfolio of differentiated and value-added sensor technology.

“While the EMS industry faces unpredictable market situations, IMI continues to boost production output and is in control of managing expectations from our valued customers. We continue to invest and take risks in venturing into new fields while keeping close track of our core businesses trajectory,” IMI President and Chief Operating Officer Gilles Bernard said.



...tis is awesome news for IMI Tongue

Ayala-led IMI earnings increase by 34% in 2018

AYALA-LED Integrated Micro-Electronics, Inc. (IMI) reported a 34% increase in attributable profit for 2018, due to net gains from the sale of a China unit and other one-off transactions.

In a disclosure to the stock exchange on Thursday, IMI said net income attributable to the parent reached $45.5 million, higher than the $34 million it posted in the same period a year ago.

IMI attributed the increase to non-operating items, including a net gain on the sale of a China entity and the reversal of contingent consideration related to its acquisition of United Kingdom-based electronics manufacturer STI Enterprises, Limited.

The company, however, noted that operationally and excluding foreign exchange impact, net income fell by 21% to $25.8 million in 2018. Effects of the depreciation of the Chinese yuan and the euro, alongside higher interest rates, also added downward pressure on the firm’s bottomline.

“2018 was a challenging yet exciting year. Although the company was affected financially by the global component shortage issue, we are confident that the choices we made years ago were the right decisions,” IMI Chief Executive Officer Arthur Tan said in a statement.

“We remain committed in our strategy to develop complex and high value products that allows us to remain relevant in our focused target markets.”

Consolidated revenues, meanwhile, grew by 24% to $1.35 billion for the full year, versus $1.09 billion. Its traditional business alone generated a 16% increase in revenues to $1.04 billion. Its recently acquired company, STI and Germany’s VIA Optronics, contributed $312.4 million, 61% higher year on year.

Despite challenges to improve its bottomline, IMI said its business pipeline grew following $320 million in new project awards. Of this, 72% are for automotive applications.

“This drive to be a critical contributor to the digital car of tomorrow and other technological breakthroughs will enable us to deliver and meet increasing expectations of our stakeholders,” Mr. Tan said.

IMI President and Chief Operating Officer Gilles Bernard also added that building solid relationships with customers and suppliers will help solve the imbalance between supply and demand in the business.

“We have to establish realistic targets with positive thinking to stay ahead of the game,” Mr. Bernard said in a statement.

IMI said it spent $65 million in capital expenditures in 2018 to build more complex manufacturing capabilities. The allocation was funded by proceeds from its stock rights offering worth P5 billion last year.


What are the company products now and how they are presented on the global markets ? I see it's doing very good and want to invest my part of that really, but I want to be sure totally. And with which companies it have some partnerships ?

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