Netherlands · Delayed Price · Currency is EUR ASM International NV Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw revenue at the high end of guidance, strong gross and operating margins, and robust demand across all segments, especially logic and memory, driven by AI. Outlook for 2026 remains strong, with growth expected to outpace the WFE market and continued margin strength.
Fiscal Year 2025
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Q4 2025 revenue exceeded guidance despite a 7% year-on-year decline, while full-year sales grew 12% at constant currency and operating margin hit a record 30.2%. Advanced logic foundry led growth, with strong outlook for 2026, including higher China sales and robust investments in R&D and capacity.
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Q3 2025 revenue rose 8% year-over-year to EUR 800 million, with strong gross margin and solid cash flow. Orders and China sales declined, but advanced logic/foundry and HBM-related DRAM drove growth. 2026 is expected to see gradual recovery, with long-term targets reaffirmed.
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ALD and Epi market leadership is driving strong growth, with 2030 targets set for €5.7B+ revenue, 30%+ operating margin, and significant expansion in advanced packaging and services. Sustainability and innovation are central, with automation and AI/ML enhancing both product performance and operational efficiency.
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Q2 2025 saw 23% year-over-year revenue growth and strong margins, led by advanced logic foundry and spares & services, while memory and power analog segments remained weak. H2 revenue is expected to be flat, with China orders declining and ongoing risks from tariffs and currency volatility.
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The meeting highlighted strong financial growth, increased R&D, and a higher dividend, with all resolutions passed by a large majority. Strategic focus remains on AI, sustainability, and talent development, while addressing risks from competition and cybersecurity.
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Q1 2025 saw strong revenue and margin growth, led by advanced logic and HBM DRAM demand, with robust free cash flow and a solid order book. Guidance for 2025 is 10%-20% revenue growth at constant currencies, with risks from tariffs and FX volatility.
Fiscal Year 2024
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Q4 revenue grew 27% and full-year sales rose 12%, driven by strong GAA and HBM demand, with gross margin reaching 50.5%. 2025 guidance is EUR 3.2–3.6 billion, with China sales expected to decline and R&D investment to remain high.
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Q3 2024 saw record revenue and strong order growth, led by high-bandwidth memory and Gate-all-around technology. Gross margin and operating profit improved, with robust cash flow supporting increased shareholder returns. 2025 guidance was raised, driven by advanced logic and memory demand.
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Q2 revenue and orders exceeded expectations, led by record memory demand and strong logic foundry performance. Gross margin remained robust despite a sales mix shift, and guidance for 2024 and 2025 was reaffirmed, with China flagged as a key risk.