Q4 2024 Semiconductor Manufacturing International Corp Earnings Call Transcript
Key Points
- Revenue for the fourth quarter of 2024 increased by 1.7% sequentially to $2,207 million, marking seven consecutive quarters of growth.
- Gross margin improved by 2.1 percentage points sequentially to 22.6% in the fourth quarter.
- The company's revenue for the full year 2024 increased by 27% year over year to $8.03 billion, hitting a record high.
- Revenue from Chinese customers increased by 34% year over year, driven by the demand for localized manufacturing.
- The company has successfully expanded its capacity, with 12-inch wafer revenue increasing by 35% year over year due to rapid capacity scale expansion.
- Gross margin for the full year 2024 decreased by 1.3 percentage points year-over-year to 18%, impacted by increased depreciation.
- The company faces higher depreciation pressure on gross margin, expected to grow around 20% in 2025.
- Intensified competition in the industry due to homogeneous competition and structural surplus capacity.
- The external environment presents uncertainties for the second half of 2025, affecting market stability.
- Capital expenditure in 2024 was high at $7.33 billion, which may impact future financial flexibility.
(spoken in Chinese)
Welcome to Semiconductor Manufacturing International Corporation's fourth-quarter 2024 webcast conference call. Today's call will be simultaneously streamed through the Internet and telephone. (Operator Instructions)
Without further ado, I'd like to introduce Ms. Guo Guangli, Senior Vice President and Board Secretary to host the webcast.
(spoken in Chinese)
Greetings. Welcome to SMIC's fourth-quarter 2024 webcast conference call. Attending today's call are Dr. Zhao Haijun, Co-Chief Executive Officer; Dr. Wu Junfeng, Senior Vice President and person in charge of Finance.
Let me remind you that today's presentation may contain forward-looking statements that do not guarantee future performance but represent the company's expectations and are subject to inherent risks and uncertainties. Please refer to the forward-looking statements in our earnings announcement. Please note that today's
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
