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Integrated Micro-Electronics, Inc. (IMI), the Ayala Group’s global electronics manufacturing services unit, is seeing the fruit of its right-sizing efforts as it registered a financial turnaround in the first half of 2025 with a net income of $7.6 million from a net loss of $8.8 million in the same period last year.
In a disclosure to the Philippine Stock Exchange, the firm said group revenues reached $497 million, with core revenues contributing $446 million.
Core earnings before interest, taxes, depreciation and amortization (EBITDA) rose to $32.6 million, representing a 7.3 percent margin, while core net income grew to $9.8 million, up from $3.7 million in the first semester of 2024.
“This positive shift was primarily driven by operational efficiency initiatives and disciplined cost
control. The company achieved a $16.5 million reduction in core fixed overhead and SG&A (selling, general and administrative) expenses, with an additional $11.4 million in cost savings from VIA Optronics.
In addition, a 201 basis point improvement in direct material cost ratio was achieved through enhanced supply chain strategies and the adoption of alternative components.
IMI’s cash reserves increased to $123 million while reducing total debt to $271 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,” said IMI Chief Executive Officer Louis Hughes.
He added that, “Despite ongoing market softness, we are collaborating closely with customers to optimize material costs and drive profitability. Our focus on operational efficiency remains firm.”
On July 31, IMI successfully completed the sale of its Czech Republic facility for €10 million. High-
value customers from the site have been transitioned to IMI’s Bulgaria and Serbia operations, enhancing both service and profitability.
