I'm Kenneth Hsiang, the Head of Investor Relations for ASE Technology Holdings.
Welcome to our first quarter 2022 earnings release.
Thank you for attending our conference call today.
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the remind follows I to that presentation would like statements. everyone that forward-looking may contain
forward-looking may to and These subject degree are risk, of a our materially. differ high results actual statements
For are stated the otherwise in figures unless generally Dollars, purposes presentation, Taiwan dollar this indicated. of our New
our company, results are presented by presented Taiwan-based consolidation. IFRS may using using Taiwan those using accounting subsidiary differ accordance including with a eliminated Intercompany our As from GAAP. in our financials materially other standards, businesses during Results transactions Taiwan and ATM Chinese IFRS. have presented between been EMS
today's For joined our Tung, CFO. Joseph call, I'm by
During outlook. session the call, financial Q&A will be our follows. questions over results Joseph during the that and be available I going will to answer
Inc.'s disposed reminder, at China As end of ASE a sites we of XXXX. the
if our additional our results basis including slides to information, pro on For a results. also give We comparability forma Inc.'s believe already financial legal which the occurred. meaningful entity as disposition here, addition of forma be presented in we will China providing sites assist additional the our results financial pro would had more of ASE in results, or
to first of be During business slightly loaded. ATM quarter, in the our Revenues came our heavily continued ahead expectations.
outlook. were there faring previous from their networking slight volatility, be From to the forecasts. a During significant as reducing was their certain who customers increasing do automotive. outpaced no variation such there customers appear and the forecasts, quarter, despite were high-performance were sector some other net-net, but those our And by customers better sectors computing, perspective,
in EMS business came ahead our of expectations. also Our revenues had that
issues EMS and historical results quarter COVID mitigation stronger-than-anticipated our driven by from the to to becoming shortages practices. with getting basis. on challenging. forma our well entity SiP quarter, and X appeared China's our will find first and services. fared traditional the On EMS in All legal from X, prior consolidated ease you pro more was all, component worse demand chip Pages environment business During manufacturing results despite and a Logistical
financial a pro quarter results P&L. Page forma consolidated entity first The the entity same X legal is basis. legal and are the On on
represented XXXX, of $X.X revenue, quarter gross billion the profits $X.X fourth of disposed profit. of sites the $X.X and billion For billion operating
the fourth As profit. a represented operating gross XXXX and percentage, of sites disposed X% each profit quarter revenues,
the sites the and last disposed profit $X.X For $X same year, operating of of billion of billion billion represented revenue, profit. gross period $X.X
operating is percentage, results. with the forma As entities and our of Page On X% profit quarter disposed a results first X revenues, basis profit. were compared gross historical each pro a
billion For margin basic $XX.X the EPS EPS a quarter, of sequentially Consolidated had while net increasing diluted a decreased We of gross And recorded $X.XX profit we XX.X%. of revenue XX% $X.XX. year-over-year. fully of XX% gross first with
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lower during from result ATM operating our year-over-year our profit-sharing billion $XX.X increased quarter $X.X scale the a expenses and billion, $X.X expenses by operating Our first billion, by primarily a both increase basis, EMS bonus during sequentially issued as of On quarter. decreased mainly of in to the expenses and the businesses.
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NT As thumb, point dollar the X.X holding we for appreciates, company percentage margin. of rule corresponding a a to percent impact gross every our see general
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loaded rate. During the continued quarter, to first ATM a business our at run highly
strong. Our Advanced Packaging remains business
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have We grow for the that the here automotive segment. Instead, gross this many find to amortization, most graphical increase being year-over-year On wave would Page driven operating estimate production profit margin a of market representation overall to is ATM the IDMs, is Page being shortage a the Further, Without forma not However, amplified ATM would during PPA-related revenue the you'll in-house. a from be X.XX and which and NT that like increase primarily pro outsourcing believe segment and ATM XX%. be have impact forma our expect mention a accelerated content we strengthening basis, by our content on of that come. point depreciation X, had increases years would to XX.X%, On percentage kept traditionally catch-ups. by is recently. pro X profit significantly we by we new We that dollar negative impact. of P&L. semiconductor believe margin year
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of corporate faster we first USI On expect our Packaging the see the flip dropping they seasonality some percentage materially provided GAAP. you our The percentage to by perspective, quarter, EMS businesses, in fan-out may average which points. a forward-looking chip information to independently as provide and than from points. information ramp business. report regards can subsidiary bumping, the Wirebonding XX, we our year. X results using and From directly increased saw continue to the Test Advanced Packaging strength during During the exhibited here X Advanced A-share-listed including we differ coming our services, Page Chinese in quarter
put and the conditions first During confident ramped. EMS both services. challenging situation the persist China. our of our to COVID place operating macro and quarter, the We protect SiP environment. place employees the continue for strategy throughout Component and in to demand China's we EMS was mitigation traditional We quarter. dynamic. do policies and by continue have chip more driven overall stronger than remains procedures stronger-than-expected overall countermeasures anticipated, the as have But shortages became demand to in manufacturing within remain our production Overall,
the business. and sequentially higher-than-expected quarter, of were where expected, year-over-year. our primarily ahead traditional first For SiP during increased a revenues XX% of Revenues result as business, somewhat XX% EMS EMS we decreased and
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bottom On a the EMS will of half of other quarter. applications, a automotive of by had first graphical you representation in page, during most seasonal revenue decline applications application. find the the Outside revenue our
the products. and On assets consumer SiP from was sheet. Our was of Page as line balance quarter, find $XX.X XX, segment's had it high-volume end equivalents key our the tied seasonality items drop of cash of At current billion. stronger will financial underlying the we to cash, you
to total was unused credit amounted billion. interest-bearing $XXX.X Our Total billion. debt $XXX.X lines
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as CapEx metric EBITDA in here our dollars company. provide the our that the company's serves EBITDA as key to We for to financial continue a equipment We a U.S. believe reference. relative performance
believe second remains to the business We the have environment ahead quarter, out of us. healthy. we relatively into still Looking growth we believe year a strong continue
overall we believe customers' choice. view double that of understand future our semiconductor the first may Our service logic elements unchanged. are inflation retuning From logic remains perspective, Russia-Ukraine war's of there worldwide a that on we cause are we and relatively growth amongst certain concerns remains providers, back-end demand the macro And the though impact unknown. semiconductor electronics growth macro outlook, industry
expectations as earlier, sectors Our customers. reduced outlooks have outlooks our customers are certain some and and outlooks. the overall tied corporate their And plans mentioned in to of
sectors. repercussions other However, we security, at concern. to have will by reductions And believe We forecast most. adjustment net even fully do have demand, materials as operations to us If far from if severity a Further, there the flee within adequate and correlate reach to the the immediate directly supplies have is these factories customers see X running China's to impacts beyond factory vendors offset past PRC. our we we tertiary our increases entire but believe avoid along been duration which quarter strategy and how our severe currently supply secondary during workarounds to alternate and Obviously, China quarter, continue benefits currently customers raw during mitigation can COVID-mitigation will and disruptions. the customers had are our look we and the a the second effective We adjustment. other chain. to workarounds manufacturing top positive
such recent creating also COVID Taiwan-centric the Finally, complexities. as factory are issues, operational surge, level
mitigation. to factories. prevent of Taiwan's taking approach measures Our the disruptions within Taiwan our COVID manageable due appropriate pragmatic are to create Taiwan disease factories should spread the in
see less efficient. the suboptimal to this the environment near-term Even time, extra in increase At to expect improving expect macro we costs, these do running gross environment. However, last make costs X factories to we year running Due such full margins. policies to we factors, related Taiwan various X to continue between a quarters. our higher-cost may with
staffing our portion EMS place China. business, large to in become especially have within operating in The with have EMS do countermeasures and overall For China's COVID-mitigation of more challenging manufacturing there production conditions We our continue a logistics. China. our is strategy.
quarter For should trough. such, second challenge. our up demand generally And business, season of the pose slow the with a seasonal significant keeping not as is part
level some follows: U.S. in With second we place to production. not forma said, our do be forma should like protect that second this fourth ATM procedures have slightly see our basis quarter our our remain for and guidance quarter quarter For manufacturing employees our should is basis, ATM do disruptions above on we ATM our will and in our environment. XXXX a the we see gross our At that term, pro put incremental business business, business margin quarter XXXX policies gross the near XXXX ATM terms, for a quarter our time, major costs. as confident dollar the On above second But pro slightly XXXX be margin. levels. we first
our For EMS our first XXXX business, EMS in terms, with level XXXX U.S. second quarter quarter similar be dollar levels. should business
levels. at section slightly With we lower EMS than should quarter Our the margin second can quarter first XXXX start operating be that, Q&A XXXX this time.
