Low 2H25 market visibility as tariff negotiations continuesAs the tariff-driven supply chain restructuring gains momentum, Himax is deepening its well-established Taiwan supply chain and strengthening into CN, KR, SG to enhance production flexibility, cost competitiveness and mitigate geopolitical risksDespite near-term headwinds, Himax continues to lead the global automotive display market, holding a 40% share in DDIC, over 50% in TDDI, and an even higher share in cutting-edge local dimming Tcon technologiesSample shipments of first-gen silicon photonics packaging solution for engineering validation and trial production are proceeding as planned.
Dollars) March 31, 2025 March 31, 2024 December 31, 2024Assets Current assets: Cash and cash equivalents$ 275,445 $ 261,702 $ 218,148 Financial assets at amortized cost 2,286 14,334 4,286 Financial assets at fair value through profit or loss 3,253 1,380 2,140 Accounts receivable, net (including related parties) 217,549 212,326 236,813 Inventories 129,867 201,872 158,746 Income taxes receivable 717 1,003 726 Restricted deposit 503,700 453,000 503,700 Other receivable from related parties 11 136 13 Other current assets 37,760 60,051 43,471 Total current assets 1,170,588 1,205,804 1,168,043 Financial assets at fair value through profit or loss 23,524 21,635 23,554 Financial assets at fair value through other comprehensive income 29,985 1,889 28,226 Equity method investments 8,061 3,173 8,571 Property, plant and equipment, net 120,538 128,938 121,280 Deferred tax assets 20,872 10,440 21,193 Goodwill 28,138 28,138 28,138 Other intangible assets, net 619 851 636 Restricted deposit 30 31 31 Refundable deposits 215,271 221,886 221,824 Other non-current assets 17,854 20,728 18,025 464,892 437,709 471,478 Total assets$ 1,635,480 $1,643,513 $ 1,639,521 Liabilities and Equity Current liabilities: Short-term unsecured borrowings$ 602 $ - $ - Current portion of long-term unsecured borrowings 6,000 6,000 6,000 Short-term secured borrowings 503,700 453,000 503,700 Accounts payable (including related parties) 105,610 117,234 113,203 Income taxes payable 12,785 11,071 9,514 Other payable to related parties - 92 - Contract liabilities-current 5,176 14,739 10,622 Other current liabilities 50,443 116,558 63,595 Total current liabilities 684,316 718,694 706,634 Long-term unsecured borrowings 27,000 33,000 28,500 Deferred tax liabilities 557 499 564 Other non-current liabilities 7,489 14,823 7,496 35,046 48,322 36,560 Total liabilities 719,362 767,016 743,194 Equity Ordinary shares 107,010 107,010 107,010 Additional paid-in capital 115,722 114,982 115,376 Treasury shares (5,546) (5,157) (5,546)Accumulated other comprehensive income 7,874 (94) 8,621 Retained earnings 684,587 653,007 664,600 Equity attributable to owners of Himax Technologies, Inc. 909,647 869,748 890,061 Noncontrolling interests 6,471 6,749 6,266 Total equity 916,118 876,497 896,327 Total liabilities and equity$ 1,635,480 $1,643,513 $ 1,639,521 Himax Technologies, Inc.
Forward Looking Statements Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company's SEC filings, including those risks identified in the section entitled "Risk Factors" in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.
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