Leadership Insights

Over the last couple of years, IMI quietly executed one of the most meaningful transformations in our history. Today, the results are clear:

• We’re profitable again;
• We’re generating strong free cash flow;
• We’ve reduced debt and strengthened the balance sheet; and
• We’re operating a leaner, more focused global footprint.

Now, the more interesting part:

Our share price on the PSE still does not reflect these improvements.

This gap between fundamentals and sentiment tells us one thing: IMI is undervalued.

What changed? A lot.

We exited non-core and structurally unprofitable operations, sharpened our focus on high-reliability automotive and industrial segments, and improved plant utilization across regions. Such decisions removed losses, lifted margins, and rebuilt financial strength.

The numbers speak for themselves:

• From loss-making to US$13.3M net income as of Q3 2025;
• Debt significantly reduce;
• US$85M free cash flow over the last 12 months; and
• Operating margins and core EBITDA trending consistently upward.

Why the disconnect? Investor sentiment is still anchored to the challenges of 2020–2023. But IMI today is a fundamentally different company—stronger, more resilient, and positioned to compound value across cycles.

The Investment Case

IMI now offers:

• Better margins;
• Stronger balance sheet;
• A higher-quality portfolio; and
• Technology-linked exposure at a discounted valuation

For investors looking for undervalued industrial and tech exposure in the Philippines, IMI deserves a closer look.