Integrated Micro-Electronics Inc. returned to profitability in 2025 after two years of restructuring.
IMI, an electronics manufacturing services provider under Ayala Corp., said in a disclosure to the stock exchange Friday that consolidated net income reached $13.5 million. This marks a sharp reversal from a $49.78 million net loss in 2024. Core net income reached $20.3 million, also a strong turnaround from losses in previous years.
Despite continued soft demand in the global automotive market, group revenues reached $996 million for the year, with $911 million coming from its wholly owned core businesses.
IMI attributed the improved performance to its multiyear transformation program, which included restructuring operations and optimizing its manufacturing footprint.
During the year, the company sold its facility in the Czech Republic and transferred customer programs to its larger operations in Bulgaria and Serbia. In China, IMI consolidated its Kuichong site in Shenzhen into its larger Pingshan facility to improve utilization and reduce overhead costs.
Programs that had previously underperformed also returned to profitability after improvements in overhead allocation and operational execution.
In December, IMI divested VIA Optronics, a noncore subsidiary that had struggled to achieve a sustainable turnaround. The company said the move would allow it to focus resources on businesses where it has stronger competitive advantages.
Operating cash flow reached $73.2 million for the year, supported by improved earnings and tighter working capital management. IMI used the cash to reduce high-interest loans, cutting net debt to $119.5 million from $265 million at the end of 2023. Capital expenditure for the year remained modest at $8.1 million, directed toward strengthening machining and plastic injection capabilities across its sites.
The company continued to expand its presence in automotive camera and lighting systems while also growing its industrial market exposure, including security and access control, data center infrastructure, smart city technologies, sensors, tracking solutions and medical equipment.
IMI also advanced its power module packaging business, serving semiconductor and power IC manufacturers as demand rises for more efficient power solutions.
“Even with slightly lower revenues, we delivered stronger margins, improved productivity and a healthier balance sheet,” IMI chief executive Louie Hughes said.
Hughes said the company expects further growth opportunities in automotive electronics, industrial markets and power module packaging in 2026.
