Almere,
Continued strong logic/foundry demand fuels record quarterly orders.
FINANCIAL HIGHLIGHTS
EUR million | Q1 2020 | Q4 2020 | Q1 2021 | |||
New orders | 333.5 | 378.7 | 410.6 | |||
Revenue | 325.1 | 346.6 | 394.0 | |||
Gross profit margin % | 44.5 | % | 45.2 | % | 49.5 | % |
Operating result | 78.1 | 77.5 | 124.5 | |||
Result from investments (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013) | 0.7 | 27.1 | 13.9 | |||
Amortization intangible assets (resulting from the sale of ASMPT stake in 2013) | (3.5) | (3.0) | (3.0) | |||
Net earnings | 74.1 | 79.1 | 122.5 | |||
Normalized net earnings (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013 ) | 77.6 | 82.1 | 125.5 |
- New orders at €411 million were 8% above the level of last quarter.
- Revenue for the first quarter 2021 was €394 million and increased 14% compared to the previous quarter due to strong market demand.
- Gross profit margin was 49.5% in Q1 2021 compared to 45.2% in the previous quarter, mainly due to favorable mix.
- Operating result was €125 million compared to €78 million in the previous quarter.
- Normalized net earnings for the first quarter 2021 were €125 million, €43 million higher compared to Q4 2020.
COMMENT
“2021 started very strong for ASM,” said
OUTLOOK
For Q2, on a currency comparable level, we expect revenue of €390-€410 million. Q2 bookings, on a currency comparable level, are expected to be in the range of €420-€440 million.
Based upon the current market developments, the wafer fab equipment (WFE) market is expected to grow by a high-teens to low twenties percentage in 2021. 2021 is expected to develop in another year of solid growth for ASM. Based upon our current view, we expect our sales in the second half to be at least at the same level as in the first half.
SHARE BUYBACK PROGRAM
On
ASMI announces today the authorization of a new repurchase program of up to €100 million of the Company's common shares within the 2021/2022 time frame. This buyback program will be executed by intermediaries and will end as soon as the aggregate purchase price of the common shares acquired by ASMI has reached €100 million.
This repurchase program is part of ASMI's commitment to use excess cash for the benefit of its shareholders.
ANNUAL GENERAL MEETING OF SHAREHOLDERS
On
- proposal to appoint Mr.
Paul Verhagen as member of the Management Board; - proposal to re-appoint Mrs. Stefanie Kahle-Galonske as member of the Supervisory Board;
- proposal to declare a regular dividend of €2.00 per common share over 2020; and
- proposal to withdraw 500,000 treasury shares.
Please refer to the AGM documents available on our website for more detailed information.
About
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.
The teleconference dial-in numbers are as follows:
United States : +1 646 7413 167- International: +44 (0) 8444 819 752
The Netherlands : +31 (0)20 79 566 14- Access Code: 6352838
A simultaneous audio web cast and replay will be accessible at www.asm.com.
CONTACT
Investor and media contact:
T: +31 88 100 8500
E: victor.bareno@asm.com
Attachment
- 20210420 - Financial results Q12021
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