Globetronics Technology Bhd (“GTB” or the “Group”), an established player in the Outsourced Semiconductor Assembly and Test (“OSAT”) and semiconductor industry, today announced its financial results for the fourth quarter ended 31 December 2024 (“Q4 FY2024”). The Group recorded revenue of RM23.6 million, a 27.4% decline from RM32.6 million in the same quarter last year. However, Profit Before Tax (“PBT”) remained stable at RM6.4 million compared to RM8.5 million in Q4 FY2023.
On a sequential basis, GTB’s revenue declined 19.3% from RM29.3 million in Q3 FY2024. Despite this, the Group posted a strong turnaround in profitability, recovering from a Loss Before Tax (“LBT”) of RM4.1 million in the previous quarter. The rebound was primarily supported by a favourable foreign exchange gain of RM6.2 million in Q4 FY2024, compared to a foreign exchange loss of RM8.1 million in the preceding quarter.
For the full financial year, GTB reported revenue of RM110.6 million, a 16.1% decline from RM131.8 million in FY2023, while net profit stood at RM10.8 million, down 59.1% from RM26.4 million in the previous year. The softer performance reflects lower customer volume loadings and persistent macroeconomic challenges affecting the semiconductor sector.
Despite the challenging operating environment, GTB continues to position itself for long-term growth. The Group recently announced a strategic partnership with ChipMOS Technologies Inc. (“ChipMOS”), a globally recognised provider of semiconductor assembly and testing services. This collaboration is expected to enhance GTB’s capabilities in advanced packaging and testing, opening new opportunities in the semiconductor industry.
Additionally, GTB has solidified its role in the Penang Silicon Design @5km+ (“PSD@5km+”) initiative, a state-driven effort to bolster the region’s semiconductor ecosystem. As part of this initiative, GTB is committed to supporting chip design houses with package design, process development, and engineering sample builds, further cementing its presence in high-value semiconductor manufacturing.
The Management of GTB commented, “While 2024 presented significant headwinds for the industry, our ability to return to profitability in Q4 underscores our resilience. We remain committed to strengthening our operations, diversifying our customer base, and leveraging strategic partnerships such as our recent collaboration with ChipMOS. Moving forward, we will continue to explore new business opportunities and optimise efficiencies to drive sustainable growth.”
The Group remains cautiously optimistic about its prospects in 2025, with a continued focus on innovation, operational excellence, and strategic collaborations to navigate the evolving semiconductor landscape.
