Hsinchu, Taiwan, August 6, 2024 – GlobalWafers held its board meeting today (August 6, 2024) to approve its financial statements for the second quarter ended on June 30, 2024 with the consolidated revenue reached NT$15.3 billion with 1.6% QoQ and -14.4% YoY; gross profit margin of 32.3%, operating income margin of 22%; net profit of NT$2.9 billion with -18.5% QoQ and -39.9% YoY, net profit margin of 18.8%; EPS of NT$6.02. The consolidated revenue for the first half of 2024 reached NT$30.4 billion with -16.7% YoY; gross profit margin of 33.3%, operating income margin of 24.1%; net profit of NT$6.4 billion with -34.5% YoY, net profit margin of 21.1%; EPS of NT$14.04.
Despite inflation, global economy is resilient and the economy growth is projected to stay steady in 2024, with a slight uptick in 2025. Global consumer confidence and business activity remain below prepandemic levels, but showing positive trends, bolstering predictions for rebound in semiconductor industry, though trade tensions and geopolitical risks persist. Advancements in 2.5D and 3D packaging technologies have improved chip performance, increasing wafer usage. The widespread adoption of AI-driven devices and the AI-powered device replacement cycle is likely boosting demand for peripheral ICs and sensors. With inventory levels gradually depleting and downstream customers ramping up production capacity, the semiconductor industry is expected to recover in late 2024 and maintain a positive outlook for 2025.
Regarding the global expansion, GlobalWafers’ US subsidiaries GlobalWafers America (GWA) and MEMC LLC are eligible for up to $400 million funding to establish the first fully integrated 12” silicon wafer production line in the US in over 20 years, as well as the nation’s only 12” SOI wafer facility, addressing a critical semiconductor supply chain gap and reducing reliance on imported wafers. Besides, our Italian subsidiary, MEMC S.p.A., has secured up to €103 million to build Europe’s most advanced 12” semiconductor wafer facility, addressing a major gap in the European supply chain, which has been largely dependent on imported advanced wafers. Following expansion, GlobalWafers will be able to offer a one-stop solution from ingot to epitaxy across Asia, the US, and Europe, with 12” fabs in major semiconductor markets. This will enhance flexibility, address macro and geopolitical challenges, reduce the environmental impact of shipping, and leverage proximity to blue-chip customers.
GlobalWafers remains committed to fulfilling corporate governance and bolstering sustainability performance across all domains. GlobalWafers is once again awarded top 5% among TPEx-listed companies for the sixth consecutive year and continues to be a constituent of the FTSE4Good Index Series, with ESG performance recognized by leading ESG rating institutes. According to CommonWealth Magazine, GlobalWafers was once again honored as one of the top 100 companies in 2023, ranked 8th by revenue among 72 semiconductor companies and ranked 10th in net profit among manufacturing firms. After the re-election of directors at the shareholders’ meeting in June, GlobalWafers has achieved a board composition comprising 50% independent directors and over one-third female representation, surpassing regulatory requirements and advancing diversity and gender equality. Firmly adhering to the principle of “responsible growth,” GlobalWafers will consistently dedicate to enhancing its corporate governance practices, with the aim of strengthening corporate competitiveness.
