1. What Happened? AIMPACT’s H1 2025 Performance
AIMPACT recorded sales of KRW 26.6 billion and an operating profit of KRW 0.9 billion in Q2 2025, marking a return to profitability. Sales increased by 13.7% compared to Q1, and operating profit swung from a loss to a profit. However, net income remained negative at KRW -1.2 billion. For the first half overall, AIMPACT reported sales of KRW 50.06 billion, an operating loss of KRW -1.42 billion, and a net loss of KRW -1.85 billion.
2. Why These Results? Drivers of Profitability and Capital Impairment Risks
The improvement in operating profit is attributed to diversification efforts, such as entering the non-memory post-processing test business and strengthening its Turn-Key Solution, as well as effective cost management. However, capital impairment worsened to KRW -29.05 billion, and the debt-to-equity ratio remains high at 204.12%, with a net debt-to-equity ratio of 154.97%. Rising raw material prices and high debt levels continue to hinder profitability improvements.
3. What’s Next? Market and Macroeconomic Outlook
The recovery of the semiconductor industry and the appreciation of the Korean Won, leading to lower import costs for raw materials, are positive factors. However, uncertainties persist, including rising raw material prices, exchange rate volatility, and the possibility of a global economic slowdown. The timing and pace of US interest rate cuts and geopolitical risks also remain key variables.
4. What Should Investors Do? Investment Strategy and Considerations
While the return to profitability in Q2 is a positive sign, securing financial stability is crucial. Investors should monitor AIMPACT’s future performance, efforts to improve its financial status, and the results of its new business ventures with a cautious approach. Focusing on the long-term turnaround potential and the securing of financial stability is more important than short-term profit improvements.