Asm International ( (ASMIY) ) has realeased its Q3 earnings. Here is a breakdown of the information Asm International presented to its investors.
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ASM International N.V., based in Almere, Netherlands, designs and manufactures semiconductor equipment and process solutions, serving markets across the United States, Europe, and Asia. It trades on the Euronext Amsterdam Stock Exchange under the symbol ASM.
In its third-quarter 2024 report, ASM International showcased significant growth driven by AI-related demand, with a notable increase in both bookings and revenue. The company reached a new quarterly high in revenue, aligning with the upper end of its guidance.
The third quarter saw new orders rise to €815 million, marking a 30% increase year-over-year, propelled by demand for gate-all-around (GAA) and high-bandwidth memory (HBM). Revenue climbed to €779 million, up 26% from the same quarter last year. The gross profit margin remained strong at 49.4%, and the operating result margin improved to 28.2%, aided by a one-off positive result from a building sale. ASM’s adjusted net earnings were €134 million, despite exchange losses impacting the bottom line.
ASM continues to benefit from the dominance of AI in the semiconductor market, with expectations of substantial growth in GAA-related sales in 2025. While the outlook for some segments remains mixed, the company anticipates ongoing revenue growth driven by advanced technology nodes.
Looking ahead, ASM projects fourth-quarter revenue between €770-810 million, with a slight increase in WFE spending anticipated for 2024 and continued growth into 2025. Despite challenges in some markets, the company remains optimistic about its strategic positioning and future revenue potential.
