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ASE Investment Holdings Posts Record Revenue, Surpassing Expectations in Q4

ASE's fourth-quarter revenue growth of 4.16% exceeds forecasts, signaling resilience in semiconductor packaging and testing sector
Taiwan
a 3711.TW Blue Chip 150 Tech 350 Semicon 75
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ASE Investment Holdings, a leading player in the semiconductor packaging and testing industry, has announced its financial performance for December and the fourth quarter of 2023. The company reported a December revenue of 49.905 billion yuan, marking an 8.44% decline from the previous month and a 6.08% decrease year-on-year. Despite these monthly and annual dips, the fourth quarter of 2023 saw significant growth, with revenue reaching 160.581 billion yuan, a 4.16% increase from the previous quarter. This growth exceeded analyst expectations, which had predicted a quarterly increase of only 2% to 3%.

The full-year revenue for 2023 was 581.914 billion yuan, down 13.26% from the previous year, but still the second highest in the company’s history. ASE’s earlier projections for the fourth quarter had anticipated a modest decline in its packaging, testing, and materials (ATM) segment, estimating a drop of 3% to 5%, with gross profit margins aligning with the third quarter’s 16.2%. In contrast, revenue from its Electronics Manufacturing Service (EMS) was expected to grow by a low double-digit percentage, around 11% to 13%, quarter-to-quarter.

A significant factor in ASE’s better-than-anticipated performance was the sustained influx of orders from Apple, along with robust growth in its EMS segment and a series of urgent orders. The fourth-quarter revenue growth, initially estimated to be between 2% to 3%, far exceeded these forecasts. The reported revenue of 160.581 billion yuan represents a substantial quarterly increase, outperforming the company’s earlier revenue range predictions of NT$158 billion to NT$159 billion.

This strong financial showing by ASE Investment Holdings underscores the resilience and adaptability of the semiconductor packaging and testing sector, even in a challenging global economic landscape. The company’s performance indicates a promising outlook for the industry, with ASE positioning itself as a key player in the global market.

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