ASM International N.V. 2018 Q2 - Results

ASM International N.V. (Euronext Amsterdam: ASM) today reports its second quarter 2018 operating results (unaudited) in accordance with IFRS. (LINK)

• New orders received of €176 million.
• Net sales for the second quarter 2018 were €209 million, an increase of 31% compared to the previous quarter.
• Gross profit margin was 42.1% in Q2 2018 compared to 37.8% in the previous quarter.
• Operating result increased to €38 million compared to the previous quarter. The increase is mainly the result of the higher sales level and higher gross margin.
• Normalized net earnings for the second quarter 2018 increased by €44 million compared to Q1 2018.

Earnings Call slide deck (Seeking Alpha) : LINK

 

 

COMMENT

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

"In Q2 we realized sales of €209 million and an order intake of €176 million. Both sales and order intake were within our guidance, despite the uncertainty around the exact timing of individual tools as mentioned in the Q1 earnings release. The gross margin in Q2 at 42% returned back again in the range of low to mid 40's. This month at Semicon West, we introduced the Synergis, the latest addition to ASM's industry-leading line of ALD tools, which addresses a wide range of advanced applications and will drive expansion of our Served Available Market within single-wafer ALD."

OUTLOOK

For Q3, on a currency comparable level, we expect sales of €180-200 million and an order intake of € 200-230 million. Q3 reflects still some uncertainty around the exact timing of individual tools.

For 2018, general expectations for growth of the wafer fab equipment market are currently mid to high single digits. Based upon the current market developments we expect our sales in the second half to be stronger than in the first half. We expect to outgrow the wafer fab equipment market in 2018.