UMS Integration (SGX:558) reported 2025 earnings of S$42m (+2% y-o-y), in line with our full-year forecast. Gross margin improved 3.4ppt y-o-y in 2025 due to a change in its product mix and lower expenses. Earnings were, however, affected by a loss of S$2.4m on Other Credits/Charges due to exchange loss and stock write-offs.
2025 revenue rose 4% y-o-y due to growth in semiconductor segment.
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Compared with 2024, revenue in Malaysia surged 91% in 2025 on more orders from the new key customer while sales in Taiwan and Others leapt 10% and 40% respectively. Both Singapore and the US reported sales declines of 4% and 21% respectively.
UMS remains positive about its prospects.
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UMS has also successfully renewed its Integrated System contract with its existing key customer for another three years. UMS will continue to make investments across its key business segments to support its long-term growth plans.
The semiconductor industry is now entering a period of record-high growth and is predicted to reach US$1t in revenue this year for the first time ever, fuelled by AI and the spread of computer chips to virtually every part of the economy. According to the Semiconductor Industry Association (SIA), colossal demand for new data centre computers has provided a bonanza for chipmakers, allowing the industry to keep eclipsing growth estimates.
Earnings Revision
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Above is an excerpt from a report by UOB Kay Hian Research. Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
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