IMI Reports FY 2025 Results, Delivering Strong Margin Expansion and a Return to Profitability

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Integrated Micro‑Electronics, Inc. (IMI), a global leader in electronics manufacturing services, announced its full‑year 2025 financial results. The company delivered increased margins, stronger cash generation, and a return to profitability following two years of strategic restructuring.

Group revenues for 2025 reached US$996 million, with US$911 million contributed by IMI’s wholly owned core businesses. IMI achieved meaningful improvements in operational efficiency and cost structures despite the weaker demand in the global automotive market. IMI core gross margin rose to 9.6% from 7.3% in the previous year while core adjusted EBITDA increased 42% to US$65.6 million from US$46.2 million. IMI ended the year with a consolidated group net income of US$13.5 million, while core net income reached US$20.3 million, a significant turnaround from the previous years’ losses.

The company’s improved performance reflects the impact of its multi‑year transformation program. In 2025, IMI sold its Czech Republic facility and transitioned key customer programs to its larger and more competitive Bulgaria and Serbia operations. Within Shenzhen, consolidating IMI’s Kuichong site into the larger Pingshan facility strengthened the company’s operational footprint and increased facility utilization while significantly reducing factory overhead expenses. Programs that had previously underperformed returned to profitability through improved overhead allocation and more disciplined execution.

In December, the company divested VIA Optronics, a non-core subsidiary that had faced significant challenges in achieving a sustainable turnaround. This step reflects IMI’s focus on concentrating its resources toward businesses where it has a clear competitive advantage and can generate sustainable long-term value. With VIA’s results no longer weighing on performance, IMI moves forward unburdened by its financial impact.

IMI generated US$73.2 million in group operating cash flow for the year, which was backed by improved earnings and tighter working capital management. The company used this cash to further reduce high‑interest loans, lowering net debt to US$119.5 million from its high of US$265 million at the end of 2023. The debt reduction, along with the deconsolidation of VIA, has made the balance sheet significantly healthier, supported by gearing levels that are well within our target range. Meanwhile, capital expenditure remained disciplined at US$8.1 million for the year, focused on enhancing machining and plastic injection expertise across IMI sites.

IMI continued to deepen its presence in automotive camera and lighting systems, areas where the company has long‑standing expertise and a reputation for zero‑defect manufacturing. Throughout 2025, IMI expanded engineering capabilities, enhanced process technologies, and strengthened collaboration with leading OEMs and Tier 1 suppliers.

In addition to the automotive industry, IMI further established itself in industrial markets, spanning security and access control, data center infrastructure, smart city technologies, sensors and control devices, tracking solutions, and medical equipment. The company also advanced its power module packaging business, which serves semiconductor and power IC manufacturers as demand grows for higher‑efficiency and higher‑density power solutions.

Louie Hughes, CEO of IMI, stated “2025 marks a turning point for IMI. Even with slightly lower revenues, we delivered stronger margins, improved productivity, and a healthier balance sheet. Our transformation efforts, which include streamlining our footprint, strengthening our commercial discipline, and elevating our operational capabilities, are now reflected in our financial results. As we enter 2026, we are poised to capture greater opportunities in automotive camera and lighting systems, industrial markets, and power module packaging. The foundation we have built gives us confidence in our ability to deliver sustainable and profitable growth.”