Q2 2024 ChipMOS Technologies Inc Earnings Call Transcript
Key Points
- Q2 revenue increased by 7.2% compared to Q1 2024 and 6.7% year-over-year.
- Net earnings increased to TWD0.62 in Q2 2024, up from TWD0.60 in Q1 2024.
- Overall utilization rate improved to 69% in Q2 2024 from 63% in Q1 2024.
- Memory product revenue increased 2.4% compared to Q1 2024 and 17.6% year-over-year.
- Free cash flow was TWD1,433 million for the first half of 2024.
- Gross margin decreased by 330 basis points compared to Q2 2023.
- Operating profit margin decreased by 3.2 percentage points compared to Q2 2023.
- Net non-operating income decreased by TWD95 million compared to Q2 2023.
- Profit attributable to the company decreased by 28.3% compared to Q2 2023.
- Higher costs in Q2 2024 due to increased electricity charges, gold prices, and salary expenses.
Greetings, and welcome to the ChipMOS second quarter 2024 results conference call. (Operator Instructions)
I would now like to turn the conference over to Dr. G.S. Shen of ChipMOS Technologies' Strategy and Investor Relations team to introduce the management team of the company in conference. Dr. Shen, you may begin.
Thank you, operator. Welcome, everyone, to ChipMOS' second quarter 2024 results conference call. Joining us today from the company are Mr. S.J. Cheng, Chairman and President; and Ms. Silvia Su, Vice President of Finance and Accounting Management Center. We are also joined on the call today by Mr. Jesse Huang, Spokesperson and Senior Vice President of Strategy and Investor Relations.
S.J. will chair the meeting and review business highlights and provide color on the operating environment. After Silvia's review of the company's key financial results, S.J. will provide our current business outlook. All company executives will then participate in an open
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