Almere, The Netherland
April 19, 2018
ASM International N.V. (Euronext Amsterdam: ASM) today reports its first quarter 2018 operating results (unaudited) in accordance with IFRS.
FINANCIAL HIGHLIGHTS
EUR million | Q1 2017 (restated) | Q4 2017 (restated) | Q1 2018 | |||
New orders | 204.2 | 203.2 | 206.5 | |||
Net sales | 156.8 | 181.5 | 159.0 | |||
Gross profit margin % | 43.0 | % | 39.6 | % | 37.8 | % |
Operating result | 19.4 | 26.0 | 11.8 | |||
Result from investments (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013) | 35.4 | 14.0 | 16.3 | |||
Amortization intangible assets (resulting from the sale of ASMPT stake in 2013) | (5.8 | ) | (4.6 | ) | (3.8 | ) |
Result from sale of ASMPT shares | - | 183.9 | - | |||
Net earnings | 40.4 | 215.9 | 15.0 | |||
Normalized net earnings (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013 and result from sale of ASMPT shares) | 46.2 | 36.6 | 18.8 |
Prior quarter results were restated for the effects of IFRS 15. Please refer to Annex 2 for details.
COMMENT
Commenting on the results, Chuck del Prado, President and Chief Executive Officer of ASM International said:
"In Q1 we realized sales of €159 million and an order intake of €206 million. Our sales were at the lower end of our guidance while order intake was at the higher end of our guidance. The gross margin in Q1 at 38% was impacted by an unfavorable product mix and costs related to our preparation for further growth. We estimate our gross margin in Q2 to show a substantial improvement bringing it back again in the range of low to mid 40's."
OUTLOOK
For Q2, on a currency comparable level, we expect sales of €200-230 million, and we expect an order intake of €160-200 million. The broad ranges for Q2 reflect some uncertainty around the exact timing of individual tools.
Kurzfristig positionieren in ASM International | ||
ME91EG
| Ask: 14,57 | Hebel: 5,19 |
mit moderatem Hebel |
Zum Produkt
| |
For 2018, market watchers currently expect the wafer fab equipment market to increase with, on average, a high single digit percentage. We aim to outgrow the wafer fab equipment market in 2018.
SHARE BUYBACK PROGRAM AND ANNUAL GENERAL MEETING OF SHAREHOLDERS
On April 24, 2017, ASMI announced a partial sale of a stake of approximately 5% in ASMPT, whereby ASMI indicated to use the proceeds of approximately €245 million for a new share buyback program. The start of this new program for a total amount of €250 million was announced on September 22, 2017. The program was completed on March 29, 2018. In total, 4,353,292 shares at an average price of €57.43, including expenses, were repurchased.
On November 2, 2017, ASMI announced a partial sale of a stake of approximately 9% in ASMPT, whereby ASMI received proceeds of approximately €445 million. As announced on February 28, 2018, ASMI intends to distribute the proceeds through a new €250 million share buyback program and a capital return. ASMI remains committed to use excess cash for the benefit of its shareholders.
On April 16, 2018, ASMI published the agenda for the 2018 Annual General Meeting of Shareholders (AGM), to be held on May 28, 2018, which includes the following financial matters:
Please refer to the AGM documents available on our website for more detailed information.
About ASM International
ASM International NV, headquartered in Almere, the Netherlands, its subsidiaries and participations design and manufacture equipment and materials used to produce semiconductor devices. ASM International, its subsidiaries and participations provide production solutions for wafer processing (Front-end segment) as well as for assembly & packaging and surface mount technology (Back-end segment) through facilities in the United States, Europe, Japan 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, 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 will host an investor conference call and web cast on Friday, April 20, 2018 at 17:00 Continental European Time (11:00 a.m. - US Eastern Time).
The teleconference dial-in numbers are as follows:
A simultaneous audio webcast and replay will be accessible at www.asm.com.
CONTACT
Investor contact:
Victor Bareño
T: +31 88 100 8500
E: victor.bareno@asm.com
Media contact:
Ian Bickerton
T: +31 625 018 512
Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.