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IMI Posts US$1.3 Billion of Revenues in 2021 Despite Macroeconomic Headwinds
March 23, 2022 | IMIEstimated reading time: 1 minute
Integrated Micro-Electronics, Inc. (IMI) posts US$1.3 billion of revenues in 2021, a 15% growth compared to the previous year. Despite supply chain constraints spanning the entire year, IMI was able to deliver on strong customer demand for electronic products. Focus market segments automotive (+24%), industrial (+16%), and aerospace (+15%) all grew year-on-year. However, due to increased growth and technology-related investments in non wholly-owned subsidiaries, along with high raw material prices and elevated logistics expenses, the company ends the year with a net loss of US$10.6 million.
“Although component shortages and supply chain disruptions have burdened the entire industry this past year, we continue to see strong demand for electronics driving our growth momentum, particularly in key subsegments of electric vehicles and autonomous driving. Our sales teams were able to book US$356 million of annual revenue potential in 2021, an increase of 52% from 2020. IMI remains committed to delivering high quality, high reliability technology solutions to meet these requirements,” said CEO Arthur Tan.
Wholly-owned subsidiaries achieved revenues of US$1 billion for the year, a 16% growth from 2020. Overcoming immense challenges in 2021, these business units remained profitable, earning US$6.6 million of net income for the year. Meanwhile, VIA optronics (VIAO) and Surface Technology International (STI Ltd.) revenues also increased to US$296 million, a 10% year-on-year growth.
“As we pursue further growth in 2022, our focus now is to proactively drive manufacturing efficiency and control costs as the supply situation improves,” added Tan.
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