Q1 2025 Semiconductor Manufacturing International Corp Earnings Call Transcript
Key Points
- Revenue increased by 1.8% sequentially to $2.247 million, indicating growth despite market challenges.
- EBITDA margin was strong at 57.5%, reflecting efficient operational management.
- The company achieved a 15% sequential increase in overall shipments, driven by demand in industrial and automotive sectors.
- Revenue from industrial and automotive sectors increased by more than 20% sequentially, showcasing strong performance in these segments.
- The company maintained a high capacity utilization rate of 89.6%, indicating effective use of production capabilities.
- Gross margin decreased slightly by 0.1 percentage points sequentially to 22.5%, indicating pressure on profitability.
- Revenue guidance for the second quarter of 2025 indicates a decrease of 4% to 6% sequentially, suggesting potential challenges ahead.
- The company reported negative free cash flow due to high capital expenditures, impacting financial flexibility.
- Blended ASP decreased in the latter half of the first quarter, affecting revenue performance.
- The company decided not to distribute profits for the year 2024, which may disappoint some shareholders seeking dividends.
Welcome to Semiconductor Manufacturing International Corporation's first quarter 2025 webcast conference call. Today's call will be simultaneously stream true internet and telephone. (Operator Instructions)
Without further ado, I would like to introduce Ms. Guo Guangli, Senior Vice President and Board Secretary to host the webcast.
Greetings. Welcome to SMIC's first quarter 2025 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 earnings statement is presented in accordance with International Financial
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