CHROMA — Call Transcript 2025

Apr 30, 2025

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2025.1Q Earnings Conference Call

Paul Ying, CFO

30[th] April, 2025

1

Disclaimer

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This presentation contains some forward-looking statements that are subject to substantial risks and uncertainties. Typically, these statements contain words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “plan”, “forecast”, “project”, “predict”, “potential”, “continue”, “may”, “should”, “will”, and “would” or similar words. You should consider these forward-looking statements carefully because such statements are only our expectations or projections about future events, and actual results may differ materially from those expressed or implied by such statements. The forward-looking statements in this presentation include, but are not limited to, growth rates for various markets estimated by third party sources, future products and technology development, widespread market acceptance of the hosted delivery model, future revenue growth and profitability. You should be cautioned that the forward-looking statements are no guarantee of our future performance. The forward-looking statements contained in this presentation are made only as of the date of this presentation and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances, except as required by law.

This presentation and the information contained herein are the property of Chroma Ate Inc.

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Agenda

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•
Financial Review
•
Operation Highlights
•
Q&A
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FINANCIAL REVIEW

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Year 2025.1Q Condensed Consolidated Income Statement

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Condensed Consolidated P&L 2025.1Q % 2024.4Q % QoQ % 2024.1Q % YoY %
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	2025.1Q %	2025.1Q %
(In Million NTD, except for EPS in NTD)
Net Sales	6,865 100%	6,039 100% 14% 4,418 100% 55%
Consolidated Sales of Testing Equipment Business	6,456 94%	5,755 95% 12% 4,259 96% 52%
Consolidated Sales of MAS	349 5%	211 4% 65% 86 2% 306%
Others	60 1%	73 1% (18%) 73 2% (18%)
Cost of Goods Sold	(2,717) (40%)	(2,432) (40%) 12% (1,852) (42%) 47%
Gross Profit	4,148 60%	3,607 60% 15% 2,566 58% 62%
Operating Expenses: General & Administration Research & Development	(1,378) (20%) (606) (9%)	(1,364) (23%) 1% (1,181) (27%) 17% (684) (11%) (11%) (485) (11%) 25%
Operating Income	2,164 31%	1,559 26% 39% 900 20% 140%
Non-Operating Income (Expenses), net	433 6%	380 6% 14% 319 7% 36%
Income (Loss) Before Tax Income Tax	2,597 37% (441) (6%)	1,939 32% 34% 1,219 27% 113% (403) (7%) 9% (243) (5%) 81%
Net Income	2,156 31%	1,536 25% 40% 976 22% 121%
Net Income (Losses) Attributable To: Shareholders of the Parent Noncontrolling Interests	2,123 31% 33 -	1,476 24% 44% 955 22% 122% 60 1% (45%) 21 - 57%
	$ 2,156 31%	$ 1,536 25% 40% $ 976 22% 121%
EPS (Basic)	$ 5.03	$ 3.49 44% $ 2.27 122%
EPS (Diluted)	$ 4.98	$ 3.45 44% $ 2.25 121%

5

Balance Sheet Highlights & Financial Ratio

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Consolidated (In Million NTD)		2025. March	2024. Dec	+ / - %
Balance Sheet Highlights
Cash & Short Term Investments		6,051	5,040		20%
Inventory		5,702	5,458		4%
Short Term Debt		101	1,417	-	93%
Long Term Debt		2,339	2,108		11%
Shareholders Equity		24,115	25,450		- 5%
Total Assets		38,724	37,308		4%
Inventory Turnover (Day)		185	209
AR Turnover (Day)		76	87
AP Turnover (Day)		105	118
Net Debt to Equity (%)		Net Cash	Net Cash
ROE (%)		34%	22%
ROA (%)		22%	15%
Cash Position	2025.1Q	2024.1Q	YoY
EBITDA	2,810	1,420	98%
Cash Flow from Operation	1,956	1,213	61%
Free Cash Flow	1,968	804	145%

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All ROE + ROA has been annualized.

Free Cash Flow = Net Cash Provided by Operating Activities + (Net Cash used by Investing Activities)

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OPERATION

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HIGHLIGHT

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7

2025.1Q Product Mix and Consolidated Sales Breakdown

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	(Unit: Million NTD)	2025.1Q % QoQ YoY	2024 %
	Test Instruments & Automatic Testing System (ATS)	2,205 42% 31% 32%	6,825 44%
	Semiconductor / Photonics Test Solutions	2,602 50% 25% 118%	6,974 45%
	Turnkey Solutions	150 3% 3% (45%)	685 4%
	Service & Others	282 5% 3% 11%	1,168 7%
	Total of Parent Company Sales	5,239 100% 25% 54%	15,652 100%
	+ Sales from Overseas Operations & Related Subsidiaries	1,217 (22%) 41%	4,767
	Chroma Consolidated Testing Equipment Business	6,456 94% 12% 52%	20,419 95%
	MAS Other Subsidiaries	349 5% 65% 306% 60 1% (18%) (18%)	872 4% 313 1%
	Consolidated Sales	6,865 100% 14% 55%	21,604 97%

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Thank You

9 Copyright © 2023 Chroma ATE Inc. All rights reserved.