Company: AMKR
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001047127-25-000030
Chunk: 73

Company: AMKOR TECHNOLOGY, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 73
---
 also approved a special cash dividend of $0.40546 per share.  In 2024, we paid total cash dividends of $178.6 million.

38

Results of Operations

The following table sets forth certain operating data as a percentage of net sales for the periods indicated:

For the Year Ended December 31202420232022Net sales100.0 %100.0 %100.0 %Cost of sales:Materials55.1 %55.1 %51.4 %Labor9.9 %9.9 %10.0 %Depreciation8.5 %8.9 %8.0 %Other manufacturing costs11.7 %11.6 %11.8 %Gross margin14.8 %14.5 %18.8 %Selling, general and administrative5.3 %4.5 %4.0 %Research and development2.6 %2.7 %2.1 %Operating income6.9 %7.2 %12.7 %Net income attributable to Amkor5.6 %5.5 %10.8 %

Net Sales

Change2024202320222024 over 20232023 over 2022(In thousands, except percentages)Net sales$6,317,692 $6,503,065 $7,091,585 $(185,373)(2.9)%$(588,520)(8.3)%

The $185.4 million decrease in net sales in 2024 compared to 2023 was primarily due to lower sales in our automotive and industrial and communications end markets, partially offset by growth in the computing and consumer end markets.  The automotive and industrial end market decreased 16% in 2024 compared to 2023 primarily driven by elevated customer inventories and weaker demand.  The communications end market decreased 7% in 2024 compared to 2023 primarily due to lower supported content mix in premium tier smartphones.  The computing and consumer end markets grew 16% and 10%, respectively, in 2024 compared to 2023 primarily driven by strong demand for ARM-based PCs, AI devices and IoT wearables. 

Gross Profit and Gross Margin

Change2024202320222024 over 20232023 over 2022(In thousands, except percentages)Gross profit$933,212 $943