ASE Holding Q2 Net Profit Reaches NT$21.068 Billion, EPS of NT$4.8 Marks Second-Highest in History

Global semiconductor packaging giant ASE Holding (3711-TW)(ASX-US) held its earnings conference today (30) and released its second-quarter financial results. Benefiting from significant growth in advanced packaging driving its packaging and testing business, along with a surge in manufacturing services, the company achieved a quarterly net profit of NT$21.068 billion—the second-highest in its history. Excluding the one-time factory sale revenue from Q4 2021, this marks a new quarterly record. The profit represents a 49% increase quarter-on-quarter and a 180% year-on-year growth, with earnings per share (EPS) reaching NT$4.8.

ASE Holding’s Q2 revenue reached NT$191.064 billion, up 10% sequentially and 27% year-on-year. Gross margin stood at 21%, up 1 percentage point from the previous quarter and 4 percentage points year-on-year. Operating margin was 11.1%, up 1 percentage point sequentially and 6.8 percentage points annually. Net profit after tax was NT$21.068 billion, up 49% QoQ and 180% YoY, with EPS at NT$4.8.

For the first half of 2024, ASE Holding recorded total revenue of NT$364.726 billion, up 22% year-on-year. Gross margin was 20.6%, up 3.7 percentage points annually, while operating margin reached 10.6%, up 3.9 percentage points YoY. Net profit for the period was NT$35.2 billion, up 133.5% YoY, with EPS at NT$8.03.

Looking at the semiconductor packaging and testing business, Q2 packaging revenue reached NT$126.148 billion, up 12% QoQ and 36% YoY. Gross margin in this segment reached 27.3%, up 1.3 percentage points QoQ and 5.4 percentage points YoY. By application, computer-related business continued to grow, accounting for 30% of revenue. Communications dropped to 41%, while automotive, consumer electronics, and others accounted for approximately 29%.

Capital expenditure for machinery and equipment in Q2 reached NT$1.695 billion, with the first-half cumulative capex totaling NT$2.698 billion.