Slides
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1© 2025 Amkor Technology, Inc. © 2025 Amkor Technology, Inc. February 10, 2025 Amkor Technology, Inc.
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2© 2025 Amkor Technology, Inc. Presenter Introductions Jennifer Jue Vice President, Investor Relations Giel Rutten President and Chief Executive Officer Megan Faust Executive Vice President and Chief Financial Officer
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3© 2025 Amkor Technology, Inc. Disclaimer Non-GAAP Measures This presentation contains certain measures that are not defined terms under U.S. generally accepted accounting principles (“GAAP”). These non-GAAP measures should not be considered in isolation or as a substitute for, or superior to, measures of liquidity or performance prepared in accordance with U.S. GAAP and may not be comparable to calculations of similarly titled measures by other companies. See the Appendix for a description of these financial measures and a reconciliation of all such non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures. Forward-Looking Statement Disclaimer This presentation contains forward-looking statements within the meaning of the federal securities laws. You are cautioned not to place undue reliance on forward-looking statements, which are often characterized by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or “intend,” by the negative of these terms or other comparable terminology or by discussions of strategy, plans or intentions. All forward-looking statements in this presentation are made based on our current expectations, forecasts, estimates and assumptions. Because such statements include risks and uncertainties, actual results may differ materially from those anticipated in such forward-looking statements as a result of various factors, including those set forth in our Annual Report on Form 10-K for the year ended December 31, 2023 (the “Form 10-K”) and from time to time in our other reports filed with or furnished to the Securities and Exchange Commission (“SEC”). You should carefully consider the trends, risks and uncertainties described in this presentation, the Form 10-K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks or uncertainties continues or occurs, our business, financial condition or operating results could be materially and adversely affected, the trading prices of our securities could decline, and you could lose part or all of your investment. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. We assume no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this presentation, except as may be required by applicable law.
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4© 2025 Amkor Technology, Inc. Business Highlights and Industry Trends Giel Rutten l President and Chief Executive Officer
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5© 2025 Amkor Technology, Inc. 2024 Highlights Revenue Q4 $1.63B 2024 $6.3B Record Revenue in Computing and Advanced SiP Advanced Packaging 3% YoY Increase Expanded Partnerships with lead customers Successfully Ramped Vietnam facility Secured $407M CHIPS Funding
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6© 2025 Amkor Technology, Inc. 2024 End Markets Computing ▶ Q4 revenue up 13% sequentially ▶ Full year revenue up 16% ▶ Record revenue driven by ARM-based PCs and AI GPUs Communications ▶ Q4 revenue down 25% sequentially ▶ Full year revenue down 7% ▶ iOS revenue decline partially offset by Android recovery Automotive and Industrial ▶ Q4 revenue down 8% sequentially ▶ Full year revenue down 16% ▶ Macro weakness and inventory controls Consumer ▶ Q4 revenue down 4% sequentially ▶ Full year revenue up 10% ▶ High volume ramp of IoT wearable
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7© 2025 Amkor Technology, Inc. Outlook Q1 Outlook ▶ Revenue of $1.275B, down 7% YoY driven by the Communications end market Full Year 2025 ▶ Expect a strong second half driven by the Communications end market ▶ All end markets expected to be flat to slightly up See corresponding endnotes on slide 21. Outlook(1)
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8© 2025 Amkor Technology, Inc. Financial Results and Outlook Megan Faust l Executive Vice President and Chief Financial Officer
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9© 2025 Amkor Technology, Inc. Revenue and Gross Profit $1.75 $1.86 $1.63 Q423 Q324 Q424 $279 $272 $247 Q423 Q324 Q424 Gross Profit and Margin % ($ in millions)($ in billions) Revenue (2) (2) 15.9% 14.6% 15.1% See corresponding endnotes on slide 21.
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10© 2025 Amkor Technology, Inc. $0.48 $0.49 $0.43 Q423 Q324 Q424 Operating Income and EPS Earnings Per Share $159 $149 $134 Q423 Q324 Q424 9.1% 8.0% 8.3% ($ in millions) Operating Income and Margin % (2) (2)(2)(2) See corresponding endnotes on slide 21.
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11© 2025 Amkor Technology, Inc. 2024 Financial Performance CapEx $744M EPS $1.43 EBITDA* $1.1B FCF* $359M Gross Profit $933M Net Income $354M Revenue $6.3B Op Income $438M *See discussion of non-GAAP measures on slide 20 and the reconciliation to the most directly comparable GAAP measures on slides 18-19.
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12© 2025 Amkor Technology, Inc. Financial Strength As of and for the quarter ended December 31, 2024 EBITDA* ▶ $302 million ▶ EBITDA margin* 18.5% Liquidity(3) ▶ $2.3 billion ▶ Solid financial position Total Debt ▶ $1.2 billion ▶ Debt to EBITDA* 1.1x Cash & Short-Term Investments ▶ $1.6 billion ▶ Invest in capacity and technology See corresponding endnotes on slide 21. *See discussion of non-GAAP measures on slide 20 and the reconciliation to the most directly comparable GAAP measure on slide 18. Debt to EBITDA on this slide represents Debt to TTM EBITDA.
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13© 2025 Amkor Technology, Inc. Q1 2025 Guidance As of February 10, 2025(1) $1.225B-$1.325B Net Sales 10.0%-13.0% Gross Margin $3M-$43M Net Income $0.01-$0.17 Earnings per Diluted Share See corresponding endnotes on slide 21.
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14© 2025 Amkor Technology, Inc. &
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15© 2025 Amkor Technology, Inc. ▶ 2024 met expectations except for prolonged weakness in Automotive & Industrial ▶ Record revenue in Computing and Advanced SiP ▶ Expect stronger than seasonal second half in 2025 driven by Communications end market(1) ▶ Continuing to invest in our technology leadership Investing for the Future See corresponding endnotes on slide 21. $1.225B-$1.325B Q1 2025 Revenue Guidance(1) Key Messages $850M FY 2025 CapEx(1)
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16© 2025 Amkor Technology, Inc. amkor.com l ENABLING the FUTURE
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17© 2025 Amkor Technology, Inc. Appendix
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18© 2025 Amkor Technology, Inc. Financial Reconciliation Tables ($ in millions) Q424 2024 Net Income $106 $356 Plus: Interest Expense 17 65 Plus: Income Tax Expense 30 75 Plus: Depreciation & Amortization 149 595 EBITDA* $302 $1,091 Revenue $1,629 $6,318 Net Income Margin 6.5% 5.6% EBITDA Margin* 18.5% 17.3% Total Debt $1,159 Net Income $356 Debt/Net Income Ratio 3.3 EBITDA* $1,091 Debt/EBITDA Ratio* 1.1 (2) (2) See corresponding endnotes on slide 21. *See discussion of Non-GAAP measures on slide 20.
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19© 2025 Amkor Technology, Inc. Financial Reconciliation Tables ($ in millions) 2024 Net Cash Provided by Operating Activities $1,089 Less: Payments for property, plant and equipment (744) Plus: Proceeds from sale of and grants for property, plant and .equipment 14 Free Cash Flow* $359 *See discussion of Non-GAAP measures on slide 20.
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20© 2025 Amkor Technology, Inc. Non-GAAP Measures Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with U.S. GAAP. In this presentation we refer to EBITDA, EBITDA Margin, and Debt to EBITDA, which are not defined by U.S. GAAP. We define EBITDA as net income before interest expense, income tax expense and depreciation and amortization. EBITDA Margin is calculated by dividing EBITDA by Revenue for the period. Debt to EBITDA is calculated by dividing Total Debt by EBTIDA for the trailing 12 months. We believe EBITDA, EBITDA Margin, and Debt to EBITDA to be relevant and useful information to our investors because they provide additional information in assessing our financial operating results. Our management uses EBITDA, EBITDA Margin, and Debt to EBITDA in evaluating our operating performance, and our ability to service debt, fund capital expenditures and pay dividends. However, EBITDA, EBITDA Margin, and Debt to EBITDA have certain limitations in that they do not reflect the impact of certain expenses on our consolidated statements of income, including interest expense, which is a necessary element of our costs because we have borrowed money in order to finance our operations, income tax expense, which is a necessary element of our costs because taxes are imposed by law, and depreciation and amortization, which is a necessary element of our costs because we use capital assets to generate income. EBITDA, EBITDA Margin, and Debt to EBITDA should be considered in addition to, and not as a substitute for, or superior to, operating income, net income, net income margin, debt to net income or other measures of financial performance prepared in accordance with U.S. GAAP. Furthermore, our definition of EBITDA may not be comparable to similarly titled measures reported by other companies. Please see slide 18 for the reconciliation to the most directly comparable U.S. GAAP measures. We define Free Cash Flow as net cash provided by operating activities less payments for property, plant and equipment, plus proceeds from the sale of, insurance recovery for and grants for property, plant and equipment, if applicable. We believe Free Cash Flow to be relevant and useful information to our investors because it provides them with additional information in assessing our liquidity, capital resources and financial operating results. Our management uses Free Cash Flow in evaluating our liquidity, our ability to service debt, and our ability to fund capital expenditures and pay dividends. However, Free Cash Flow has certain limitations, including that it does not represent the residual cash flow available for discretionary expenditures since other, non-discretionary expenditures, such as mandatory debt service, are not deducted from the measure. The amount of mandatory versus discretionary expenditures can vary significantly between periods. This measure should be considered in addition to, and not as a substitute for, or superior to, other measures of liquidity or financial performance prepared in accordance with U.S. GAAP, such as net cash provided by operating activities. Furthermore, our definition of Free Cash Flow may not be comparable to similarly titled measures reported by other companies. Please see slide 19 for the reconciliation to the most directly comparable U.S. GAAP measure.
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21© 2025 Amkor Technology, Inc. Endnotes 1) This financial guidance is from our February 10, 2025 earnings release and is reproduced here for convenience of reference only. This reference is not intended, and should not be relied upon, as a reaffirmation or other commentary with respect to such financial guidance. Please see slide 3. 2) We periodically assess the estimated useful lives of our property, plant and equipment. Based on our assessment of test equipment and its increased interchangeability enabling broader and longer use, we extended the estimated useful lives of test equipment from five years to seven years as of January 1, 2024. As a result, depreciation expense was reduced by approximately $15 million and $13 million for the three months ended September 30, 2024 and December 31, 2024, respectively, and $59 million for the year ended December 31, 2024. This benefited net income by approximately $12 million, $11 million and $49 million and diluted earnings per share by $0.04, $0.05 and $0.20 for each period, respectively. In addition, the reduction in depreciation expense benefited our gross margin by approximately 70 basis points for each of the three months ended September 30, 2024 and December 31, 2024 and approximately 80 basis points for the year ended December 31, 2024. 3) Liquidity is defined as the sum of cash and cash equivalents, short-term investments and availability under our debt arrangements.