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Richmond Mercurio - The Philippine Star
August 3, 2025 | 12:00am
This photo shows a picture of U.S. Dollars.
STAR / Edd Gumban, file
MANILA, Philippines — Ayala-led Integrated Micro-Electronics Inc. (IMI) swung to profit in the first half as a result of operational efficiency initiatives and disciplined cost control.
IMI reported a net income of $7.6 million from January to June, a significant turnaround from a net loss of $8.8 million in the same period last year.
Group revenues for the period reached $497 million, with core revenues contributing $446 million.
“Our first half results reflect strong progress toward our group EBITDA margin target, with our core business already delivering a 7.2 percent margin,” IMI CEO Louis Hughes said.
IMI said that its cash reserves increased to $123 million, while reducing total debt to $271 million.
“Despite ongoing market softness, we are collaborating closely with customers to optimize material costs and drive profitability. Our focus on operational efficiency remains firm,” Hughes said.
In 2024, IMI embarked on a transformative journey under a new leadership team aimed at improving efficiency, fostering growth and adapting to changing market dynamics.
The company has been working on strengthening its balance sheet by reducing external loans and maintaining adequate liquidity through effective cash flow management, optimizing working capital and establishing credit lines.
It has also streamlined its management structure by flattening the organizational hierarchy and enhancing accountability at all levels.
Further, the company optimized its global footprint by closing and rationalizing facilities in California, Malaysia, Singapore, Japan and Chengdu.
Recently, IMI has completed the divestment of its Czech Republic operations, raising 10.03 million euros.
In a stock exchange filing, IMI said the transaction for the sale of its 100 percent equity interest in Integrated Micro-Electronics Czech Republic s.r.o. to Keboda Deutschland GmbH & Co. KG was officially closed on July 31.
Keboda, a system solution provider for automotive intelligent and energy-sufficient electronics components, is a subsidiary of Keboda Technology Co. Ltd., a publicly listed company based in China.
With the transaction, which was executed through subsidiary, Coöperatief IMI Europe U.A., IMI is better equipped to enhance operational efficiency, increase facility utilization and drive overall profitability in the region.
“This strategic divestment is in line with IMI’s ongoing efforts to streamline its global manufacturing footprint,” the company said.
IMI said the high value customers that were previously managed by the Czech facility have been successfully transitioned into IMI’s Bulgaria and Serbia manufacturing sites.
IMI is a global electronics manufacturing solutions expert specializing in highly reliable and quality electronics for long product life cycle segments in the automotive, industrial, power electronics, communications and medical industries.
