Almere,
Record quarterly order intake driven by continued strong logic/foundry demand
FINANCIAL HIGHLIGHTS
EUR million | Q3 2020 | Q2 2021 | Q3 2021 |
New orders | 303.4 | 515.7 | 624.5 |
Revenue | 314.6 | 411.7 | 432.9 |
Gross profit margin % | 49.9 | 48.1 | 47.2 |
Operating result | 83.9 | 118.4 | 117.3 |
Operating result margin % | 26.7 | 28.7 | 27.1 |
Result from investments (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013) | 6.3 | 19.3 | 27.6 |
Amortization intangible assets (resulting from the sale of ASMPT stake in 2013) | (3.0) | (3.0) | (3.1) |
Net earnings | 58.1 | 108.4 | 128.9 |
Normalized net earnings (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013 and result from sale of ASMPT shares) | 61.2 | 111.4 | 132.0 |
- New orders of €625 million for the third quarter 2021 increased by 106% as reported compared to the same period last year.
- Year-on-year revenue growth for the third quarter 2021 was 38% at constant currencies (38% as reported).
- Gross profit margin of 47.2% was lower compared to the relatively strong level of 49.9% in the same quarter last year.
- Operating result for the third quarter 2021 improved from €84 million last year to €117 million this year mainly driven by strong revenue growth.
- Normalized net earnings for the third quarter 2021 were €132 million, a significant improvement compared to the same quarter last year.
COMMENT
“ASMI continued its strong growth path in the third quarter,” said
OUTLOOK
For Q4, on a currency comparable level, we expect sales of €470-500 million. Q4 bookings, on a currency comparable level, are expected to be around €600 million. Starting 2022, we will stop providing guidance on order intake as it has become clear in the last two quarters in which actual order intake was significantly higher than guided that it is increasingly more challenging in the current environment to provide a meaningful outlook. With a continued strong momentum in the second half of the year, the wafer fab equipment (WFE) market is expected to grow by a mid-to-high thirties percentage in 2021.
SHARE BUYBACK PROGRAM
On
ASMI INVESTOR DAY 2021
On
- Targeting revenue of €2.8-€3.4 billion by 2025 (2020-2025 CAGR of 16%-21%), gross margins of 46%-50% in 2021-2025, and operating margins of 26%-31% in 2021-2025;
- Targeting Net Zero emissions by 2035 and 100% renewable electricity by 2024;
- Single-wafer ALD market expected to increase from
$1.5 billion in 2020 to$3.1-3.7 billion by 2025; - Further capacity expansion of our new manufacturing facility in
Singapore to be production ready by early 2023.
NET ZERO ANNOUNCEMENT
In its Investor Day on
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.
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/8878063
A simultaneous audio webcast 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
- 20211026 - Financial results Q3 2021
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