ASM INTERNATIONAL N.V. REPORTS FIRST QUARTER 2022 RESULTS
21 April 2022 - 2:00AM
ASM INTERNATIONAL N.V. REPORTS FIRST QUARTER 2022 RESULTS
Almere, The Netherlands April 20, 2022,
6 p.m. CET
ASM International N.V. (Euronext
Amsterdam: ASM) today reports its first quarter 2022 operating
results (unaudited).
Record high revenue and orders in Q1, continued revenue
growth expected for the rest of the year
FINANCIAL HIGHLIGHTS
EUR million |
Q1 2021 |
Q4 2021 |
Q1 2022 |
New orders |
410.6 |
644.9 |
705.7 |
YoY change % as
reported / at constant currencies |
23 % / 31 % |
70 % / 70 % |
72 % / 65 % |
Revenue |
394.0 |
491.3 |
516.9 |
YoY change % as
reported / at constant currencies |
21 % / 29 % |
42 % / 40 % |
31 % /25 % |
Gross profit
margin % |
49.5 % |
47.0 % |
47.8 % |
Operating
result |
124.5 |
131.3 |
143.0 |
Operating result
margin % |
31.6 % |
26.7 % |
27.7 % |
Share in income
of investments in associates (excluding amortization intangible
assets resulting from the sale of ASMPT stake in 2013) |
13.9 |
25.8 |
23.7 |
Amortization
intangible assets (resulting from the sale of ASMPT stake in
2013) |
(3.0) |
(3.2) |
(3.2) |
Net earnings |
122.5 |
134.9 |
142.5 |
Normalized net earnings (excluding amortization intangible assets
resulting from the sale of ASMPT stake in 2013 and result from sale
of ASMPT shares) |
125.5 |
138.1 |
145.7 |
- New orders of €706 million for the first quarter 2022 increased
by 65% at constant currencies compared to the same period last year
(72% as reported).
- Year-on-year revenue growth for the first quarter 2022 was €25%
at constant currencies (31% as reported).
- Gross profit margin of 47.8% in the first quarter 2022 was
lower compared to 49.5% in the same quarter last year which
reflected an exceptionally strong mix.
- Operating result for the first quarter 2022 improved from €125
million last year to €143 million this year driven again by strong
revenue growth.
- Normalized net earnings for the first quarter 2022 were €146
million.
COMMENT “ASM started the year
with a strong performance, with again record quarterly levels of
orders, revenue and results,” said Benjamin Loh, President and
Chief Executive Officer of ASM International. “In the first
quarter, our company delivered revenue of €517 million, an increase
of 25% at constant currencies and in line with our guidance of
€500-530 million, successfully navigating ongoing challenging
supply chain conditions. The demand environment continued to be
very robust. Our Q1 order intake increased year-on-year by 65% at
constant currencies to €706 million. While orders were again led by
record high logic/foundry demand, momentum was also strong in
memory, and in the power/analog and wafer maker segments. We
further stepped up investments to drive the growth of our company
and at the same time delivered a solid 15% increase in operating
profits in the first quarter, and a strong free cash flow of €99
million (excluding the acquisition of Reno)."
OUTLOOK Supply chain conditions
are expected to remain tight in the second quarter. For Q2 at
constant currencies, we expect revenue of €540-570 million, in line
with our previous forecast for a further sequential increase in Q2.
Based on the current visibility, we expect revenue in the second
half of 2022 to be clearly higher than the level in the first half,
to a certain extent depending on the pace of improvement in supply
chain conditions. Expectations are unchanged for the wafer fab
equipment to increase by a mid to high teens percentage in 2022, a
level which we are confident to outperform this year.
ANNUAL GENERAL MEETING OF SHAREHOLDERS On April
1, 2022, ASMI published the agenda for the 2022 Annual General
Meeting of Shareholders (AGM), to be held on May 16, 2022, which,
as also earlier announced, includes amongst others, the proposals
to:
- appoint Mr. Hichem M’Saad as additional member of the
Management Board;
- change the remuneration policy for the Management Board and
Supervisory Board;
- re-appoint Mr. Marc de Jong as member of the Supervisory
Board;
- declare a regular dividend of €2.50 per common share over 2021;
and
- approve the annual accounts of 2021.
Please refer to the AGM documents available on
our website for more detailed information.
About ASM International
ASM International N.V., headquartered in Almere,
the Netherlands, and its subsidiaries design and manufacture
equipment and process solutions to produce semiconductor devices
for wafer processing, and have facilities in the United States,
Europe, and Asia. ASM International's common stock trades on the
Euronext Amsterdam Stock Exchange (symbol ASM). For more
information, visit ASMI's website at www.asm.com.
Cautionary Note Regarding Forward-Looking
Statements: All matters discussed in this press release, except for
any historical data, are forward-looking statements.
Forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. These include, but are not limited to,
economic conditions and trends in the semiconductor industry
generally and the timing of the industry cycles specifically,
currency fluctuations, corporate transactions, financing and
liquidity matters, the success of restructurings, the timing of
significant orders, market acceptance of new products, competitive
factors, litigation involving intellectual property, shareholders
or other issues, commercial and economic disruption due to natural
disasters, terrorist activity, armed conflict or political
instability, changes in import/export regulations, epidemics and
other risks indicated in the Company's reports and financial
statements. The Company assumes no obligation nor intends to update
or revise any forward-looking statements to reflect future
developments or circumstances.
This press release contains inside information
within the meaning of Article 7(1) of the EU Market Abuse
Regulation.
ASM International N.V will host an investor
conference call and webcast on Thursday, April 21, 2022, at 3:00
p.m. Continental European Time (9:00 a.m. – US Eastern Time).
Conference call participants should pre-register
using the link below to receive the Dial-In Numbers, Direct Event
Passcode and unique Registrant ID, which will be needed to access
the conference call.
Online registration for the conference call:
http://emea.directeventreg.com/registration/9926845
A simultaneous audio webcast and replay will be
accessible at www.asm.com.
CONTACT
Investor and media contact:Victor BareñoT: +31
88 100 8500E: victor.bareno@asm.com
- 20220420 - Financial results Q1 2022
ASM International NV (TG:AVS)
Historical Stock Chart
From Mar 2024 to Apr 2024
ASM International NV (TG:AVS)
Historical Stock Chart
From Apr 2023 to Apr 2024