Core bottom line of Ayala Group’s IMI jumped 52%

Ayala-led Integrated Micro-Electronics Inc. (IMI) reported a 52-percent increase in third-quarter core net income to $24.1 million from $15.8 million a year earlier, supported by revenue growth, better utilization and higher-value manufacturing programs.

The electronics manufacturer said on Wednesday that nine-month core revenue rose by 3.6 percent to $703.2 million from $678.7 million.

Gross profit reached $73.5 million, while gross margin widened to 10.4 percent from 9 percent a year earlier.

Core earnings before interest, taxes, depreciation and amortization (Ebitda) increased by 12 percent to $56.5 million in January to September.

Third-quarter core Ebitda rose by 9.8 percent to $19.5 million.

Separately, its financial statements showed consolidated net income of $22.28 million for the first nine months, up from $13.26 million a year earlier.

Operating expenses fell to $32.85 million from $44.51 million, while interest and bank charges declined to $11.75 million from $15.83 million.

Two-year effort

“The progress we are delivering is the result of two years of decisive action to make IMI a stronger, more focused and more competitive company,” IMI president and CEO Louis Hughes said.

IMI secured new business in advanced power semiconductor module packaging for data center power infrastructure, building on its investments in assembly, packaging and testing.

The company also cited growing demand for automotive camera modules as vehicle manufacturers adopt more sophisticated driver monitoring systems and other camera-based safety functions.

Its chip-on-board assembly and aluminum wedge-bonding technology support the production of compact, high-reliability camera modules at scale.

Total debt declined to $188.3 million as of September from $196 million at the end of 2025. Its debt-to-equity ratio improved to 0.69 times.

Despite uneven demand in some industrial markets, IMI said it remained focused on customer launches and expanding new programs.

Meanwhile, AyalaLand Logistics Holdings Corp. reported a 9.9-percent decline in nine-month net income to P73 million from P81 million a year earlier.

Consolidated revenues reached P2.5 billion, with industrial lot sales falling 19 percent to P903 million.

Leasing revenues rose 9 percent to P1.6 billion, led by cold storage.

Third-quarter net income reached P62 million, supported by revenue recognition from industrial lot sales and sustained leasing performance, helping temper the earnings decline.