ASM INTERNATIONAL N.V. REPORTS FIRST QUARTER 2021 RESULTS
NetherlandsApril 20, 2021, 6 p.m. CET
ASM International N.V. (Euronext
Amsterdam: ASM) today reports its first quarter 2021 operating
results (unaudited) in accordance with IFRS.
Continued strong logic/foundry demand
fuels record quarterly orders.
investments (excluding amortization intangible assets resulting
from the sale of ASMPT stake in 2013)
intangible assets (resulting from the sale of ASMPT stake in
Normalized net earnings (excluding amortization intangible assets
resulting from the sale of ASMPT stake in 2013 )
- New orders at €411 million were 8% above the level of last
- Revenue for the first quarter 2021 was €394 million and
increased 14% compared to the previous quarter due to strong market
- 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.
“2021 started very strong for ASM,” said
Benjamin Loh, President and Chief Executive Officer of ASM
International. “In the first quarter, we realized revenue of €394
million, well within our guidance of €380-400 million and up 14%
from the level in Q4. The revenue level was again driven by
continuous high demand in the logic/foundry segment. Our Q1 order
intake, at €411 million, was up 8% from an already high level in Q4
and ahead of our guidance of €380-400 million, driven by solid
demand in logic/foundry. Our gross margin was at a high level of
49.5%, caused by a favorable mix, while our operational cash flow
showed a record high level in Q1. Based upon the strong cash
position at the end of March, we plan to start a new €100 million
share buyback program.”
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 February 25, 2020, ASMI announced the
authorization of a share buyback program for up to €100 million.
The program started on June 2, 2020, and was completed on March 2,
2021. In total, we repurchased 646,180 shares at an average price
of €154.76, under the 2020-2021 program.
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
This repurchase program is part of ASMI's
commitment to use excess cash for the benefit of its
ANNUAL GENERAL MEETING OF
On March 31, 2021, ASMI published the agenda for
the 2021 Annual General Meeting of Shareholders (AGM), to be held
on May 17, 2021, which, as also earlier announced, includes amongst
others the following matters:
- proposal to appoint Mr. Paul Verhagen as member of the
- 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 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, 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
ASM International will host an investor conference call and
webcast on Wednesday April 21, 2021, at 14:00 Continental
European Time (8:00 a.m. - US Eastern Time).
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.
Investor and media contact:
Victor BareñoT: +31 88 100 8500E: email@example.com
- 20210420 - Financial results Q12021