“We think it’s fair to consider Q1 as the low point of 2025,“ said CEO Jean-Marc Chery. ST declined to give a forecast for the full year.
The company has been hit by weak automotive and industrial demand.
“We have a plan for temporary closing of many of our fabs during this quarter. Our expectation is that in Q2, we will continue to have a significant amount in terms of unloading,” said CFO Lorenzo Grandi.
2024 revenues were down 23.2% y-o-y at $13.27 billion. 2024 operating margin was 12.6% compared to 26.7% in 2023. Gross margin was 37.7%.
2024 net profit was down 63.0% y-o-y at $1.56 billion.
Capex for 2025 was set at $2-2.3 billion down from $2.53 billion in 2024 and $4 billion in 2023.
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