Wednesday, November 1, 2017

ASM International NV reports 3Q 2017 results - solid growth in ALD continues

Almere, The Netherlands October 31, 2017ASM INTERNATIONAL N.V. REPORTSTHIRD QUARTER 2017 RESULTS ASM International N.V. (Euronext Amsterdam: ASM) today reports its third quarter 2017 operating results.

· New orders at €160 million were 22% below the Q2 2017 level and 31% above last year's Q3 level.
· Net sales for the third quarter 2017 were €185 million, a decrease of 8% compared to the previous quarter. Year-on-year net sales increased with 28%.
· Operating result decreased to €26 million. This reduction is mainly related to the newly introduced products which are temporarily impacting the gross margin and had an effect of €9 million in Q3.
· Normalized net earnings for the third quarter 2017 decreased by €8 million compared to the second quarter 2017. The financing result included €8 million negative effects from currencies compared to €11 million negative effects in the second quarter. The result from investments increased with €1 million.

Commenting on the results, Chuck del Prado, President and Chief Executive Officer of ASM International said:

"In Q3, we realized sales of €185 million and an order intake of €160 million, well in line with our guidance. The sales included several deliveries of Intrepid Epitaxy and new PECVD applications. The initial margin on these newly introduced products is relatively low, as earlier indicated, and impacted our gross margin in the quarter with 5 percentage points. We expect our gross margin to normalize again in the course of 2018."

Source: FinanzNachrichten

According to the Investor presentation released by ASMI ALD is a key growth market as always:
  • ALD market expected to grow by double digits from ’15 to ’20-’21
  • ASMI has leadership position in ALD

ALD has been outperforming in 2011-2016
  • Sales grown at a CAGR of 11% in last six years, outperforming broader equipment market
  • Single wafer ALD market on track for a clear improvement in 2017 

ASM see solid growth expected for the ALD market for 2017 they expect a clear improvement in
the single wafer ALD market and they expect the single wafer ALD market to reach a size of approx. US$1.5 billion by 2020 to 2021

3Q 2017 Investor presentation:

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