Integrated Micro-Electronics Inc. (IMI), the Ayala group’s global electronics manufacturing services provider, reported a 50-percent jump in net income to $14 million in the first half of 2026 from the $9.4 million earned in the same period last year.

“Over the past two years, IMI has optimized its manufacturing footprint, strengthened sourcing and pricing discipline, improved factory utilization, and sharpened its commercial focus. These efforts have improved operating performance while creating a stronger platform for growth,” the company said.

IMI Chief Executive Officer (CEO) Louie Hughes said in a disclosure to the Philippine Stock Exchange (PSE) last week, “The first half shows that we’re moving in the right direction. We delivered revenue growth, expanded margins and significantly increased net income, all while continuing to reduce debt.”

“Much of the work over the past two years has been about building a stronger foundation for the business. We’ve streamlined our footprint, improved operational discipline and strengthened the balance sheet. Those changes are now beginning to show up more clearly in our results,” he added.

Hughes noted, “We’re particularly encouraged by the progress we’re seeing in cameras, lighting, industrial applications, plastic injection, and power modules. These are areas where we believe IMI has strong technical capabilities and meaningful opportunities to grow. We’ve built a more focused and resilient company. Our priority now is to translate that into sustainable growth and long-term value for our stakeholders.”

Revenues for the first six months of the year reached $465 million, a four-percent improvement from $446 million in core revenues in the same period of 2025.

Growth was driven by higher volumes from automotive camera and lighting programs, medical segment customers, and continued momentum in the company’s power module business, offsetting softness in legacy automotive and industrial segments.

The stronger top line was accompanied by margin gains, improving profitability metrics across the board compared with last year’s first-half core results.

Gross profit increased to $48.7 million from $38.6 million in 2025, lifting gross margin to 10.5 percent from 8.7 percent. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to $36.8 million from $32.6 million.

IMI generated $26.8 million in operating cash flow and repaid $17.6 million of debt, reducing total borrowings to $178.5 million as of June 30, 2026. Ending net debt of $99 million remained below the company’s target range and was significantly lower than levels seen just two years ago.

The company also continued to strengthen its position in markets where electronic content and system complexity are increasing. - James A. Loyola