Integrated Micro-Electronics, Inc. (IMI) swung back to profit in 2025, signaling that its multi-year restructuring drive is beginning to pay off despite softer demand in the global automotive sector.
The Ayala-led electronics manufacturing services firm reported group revenues of USD996 million for the year, with USD911 million coming from its core wholly-owned operations. While top-line growth remained modest, profitability and operational efficiency improved sharply.
IMI posted consolidated net income of USD13.5 million, marking a turnaround after two years of losses. Core net income reached USD20.3 million as the company benefited from tighter cost management and improved execution across its manufacturing network.
Margins also expanded significantly. Core gross margin climbed to 9.6 percent from 7.3 percent in 2024, while core adjusted EBITDA jumped 42 percent to USD65.6 million, underscoring stronger operational discipline even as industry demand remained uneven.
Chief executive officer Louie Hughes described the results as a milestone for the company’s turnaround.
“2025 marks a turning point for IMI. Even with slightly lower revenues, we delivered stronger margins, improved productivity, and a healthier balance sheet,” Hughes said, noting that restructuring initiatives are now translating into tangible financial gains.
A key driver of the recovery was the company’s global footprint rationalization. During the year, IMI sold its Czech Republic facility and shifted programs to larger, more competitive operations in Bulgaria and Serbia. In China, consolidating the Kuichong plant into the larger Pingshan facility helped raise utilization while cutting overhead costs.
IMI also divested VIA Optronics AG, a struggling subsidiary, in December, allowing the company to refocus on core businesses where it holds stronger competitive advantages.
Stronger cash generation further reinforced the balance sheet. Operating cash flow reached USD73.2 million, enabling IMI to reduce net debt to USD119.5 million from USD265 million at the end of 2023.
IMI is doubling down on automotive camera and lighting systems, industrial electronics, and power module packaging—segments the company believes will drive its next phase of growth as demand for advanced electronics continues to expand globally.
