ASE Technology Holding Co., Ltd. Reports Its Unaudited Consolidated Financial Results for the Third Quarter of 2024

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TAIPEI, Oct. 31, 2024 /PRNewswire/ -- ASE Technology Holding Co., Ltd. (TWSE: 3711, NYSE: ASX) ("We", "ASEH", or the "Company"), the leading provider of semiconductor assembly and testing services ("ATM") and the provider of electronic manufacturing services ("EMS"), today reported its unaudited net revenues[1] of NT$160,105 million for 3Q24, up by 3.9% year-over-year and up by 14.2% sequentially. Net income attributable to shareholders of the parent for the quarter totaled NT9,666 million, up from NT$8,776 million in 3Q23 and up from NT$7,778 million in 2Q24.  Basic earnings per share for the quarter were NT$2.24 (or US$0.138 per ADS), compared to NT$2.04 for 3Q23 and NT$1.80 for 2Q24. Diluted earnings per share for the quarter were NT$2.17 (or US$0.134 per ADS), compared to NT$2.00 for 3Q23 and NT$1.75 for 2Q24.

As of September 30, 2024, we have completed the PPA and have retrospectively adjusted the consolidated financial results for prior period.

RESULTS OF OPERATIONS

3Q24 Results Highlights – Consolidated

  • Net revenues from packaging operations, testing operations, EMS operations, and others represented approximately 43%, 9%, 47%, and 1% of the total net revenues for the quarter, respectively.

  • Cost of revenues was NT$133,673 million for the quarter, up from NT$117,184 million in 2Q24.

    • Raw material cost totaled NT$84,658 million for the quarter, representing 53% of the total net revenues.

    • Labor cost totaled NT$16,468 million for the quarter, representing 10% of the total net revenues.

    • Depreciation, amortization and rental expenses totaled NT$13,647 million for the quarter.

  • Gross margin increased by 0.1 percentage points to 16.5% in 3Q24 from 16.4% in 2Q24.

  • Operating margin was 7.2% in 3Q24, compared to 6.4% in 2Q24.

  • In terms of non-operating items:

    • Net interest expense was NT$1,291 million.

    • Net foreign exchange gain was NT$1,890 million, primarily attributable to the depreciation of the U.S. dollar against the New Taiwan dollar.

    • Net loss on valuation of financial assets and liabilities was NT$943 million.

    • Net gain on equity-method investments was NT$485 million.

    • Other net non-operating income was NT$643 million, primarily attributable to miscellaneous income.
      Total non-operating income and expenses for the quarter was NT$784 million.

  • Income before tax was NT$12,260 million in 3Q24, compared to NT$10,105 million in 2Q24. We recorded income tax expenses of NT$2,054 million for the quarter, compared to NT$1,950 million in 2Q24.

  • Net income attributable to shareholders of the parent was NT$9,666 million in 3Q24, compared to NT$8,776 million in 3Q23 and NT$7,778 million in 2Q24.

  • Our total number of shares outstanding at the end of the quarter was 4,412,064,337, including treasury stock owned by our subsidiaries in 3Q24. Our 3Q24 basic earnings per share of NT$2.24 (or US$0.138 per ADS) were based on 4,321,735,473 weighted average numbers of shares outstanding in 3Q24. Our 3Q24 diluted earnings per share of NT$2.17 (or US$0.134 per ADS) were based on 4,391,466,234 weighted average number of shares outstanding in 3Q24.

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