ASM International sees Q3 revenue EUR 740M-780M

The company said, “While conditions in end markets continue to be mixed, the recovery of the wafer fab equipment is gradually picking up pace, as AI demand is fueling investments in HBM DRAM and in leading-edge logic/foundry. For 2024, a slight increase in WFE spending is expected, followed by a stronger increase in 2025. We expect revenue in the third quarter of 2024, at constant currencies, to be in a range of EUR 740-780 million. We project ASM’s revenue in the second half to increase around 15% compared to the level in the first half resulting in another growth year for ASM. We continue to expect sales from China to drop in the second half compared to the exceptional level in the first half. This will however be more than offset by an expected strong increase in the second half in leading-edge logic/foundry sales, mostly driven by rising GAA-related sales and an increase in memory sales, in particular for HBM DRAM. Despite softening market conditions, we still expect our silicon carbide Epi sales to increase by a double-digit percentage in 2024, supported by the contribution from newly won customers. We remain confident about the mid-term targets for 2025 and 2027 that we provided in our 2023 Investor Day, and we expect ASM will continue to outperform the WFE market during this timeframe.”