GlobeNewswire by notified

ASM reports first quarter 2024


Almere, The Netherlands
April 23, 2024, 6 p.m. CET

Solid start of the year, Q1 orders supported by GAA and HBM

ASM International N.V. (Euronext Amsterdam: ASM) today reports its Q1 2024 results (unaudited).

Financial highlights

€ millionQ1 2023Q4 2023Q1 2024
New orders 647.4 677.5 697.9
yoy change % at constant currencies (6%) (14%) 10%
Revenue 710.0 632.9 639.0
yoy change % at constant currencies 40% (7%) (8%)
Gross profit margin % 49.4 % 47.2  % 52.9  %
Adjusted gross profit margin 1 51.1  % 47.9  % 52.9  %
Operating result 204.2 131.5 187.1
Operating result margin % 28.8  % 20.8  % 29.3  %
Adjusted operating result 1 221.2 141.0 191.8
Adjusted operating result margin 1 31.2  % 22.3  % 30.0  %
Net earnings 380.4 90.9 173.1
Adjusted net earnings 1 183.0 100.3 178.9

1 Adjusted figures are non-IFRS performance measures (previously referred to as "normalized"). Refer to Annex 3 for a reconciliation of non-IFRS performance measures.

  • New orders of €698 million in Q1 2024 increased by 10% at constant currencies (increased by 8% as reported), supported by healthy GAA 2nm orders, and a strong increase in memory orders, mainly for HBM-related DRAM applications.
  • Revenue of €639 million decreased by 8% at constant currencies (decreased by 10% as reported) from Q1 of last year but came in at the high end of guidance (€600-640 million).
  • Adjusted gross profit margin increased to 52.9%, up from 51.1% in Q1 of last year, on the back of a generally positive mix, and in particular a continued strong contribution from China sales, which increased to a quarterly record.
  • Adjusted operating result margin decreased to 30.0%, compared to 31.2% in Q1 last year. This was mainly explained by the decrease in revenue and partly offset by the increase in gross profit margin, while the increase in operating expenses was relatively moderate in Q1. 
  • Revenue for Q2 2024 is projected to increase to €660-700 million. Revenue in H2 is expected to increase by 10% or more compared to H1 2024. Full year 2024 is expected to be another year of growth for ASM.


“ASM started the year on a solid footing”, said Benjamin Loh, CEO of ASM. “Revenue in the first quarter came in at €639 million, which was a decrease of 8% compared to the same quarter of last year. Revenue was at the top end of our guidance of €600-640 million.

Bookings increased to €698 million, up 10% at constant currencies from the first quarter 2023. Bookings again included a healthy level of tool orders related to the gate-all-around (GAA) 2nm technology node. Current traction confirms our expectation that the GAA migration is going to be a strong driver for ASM. Memory bookings showed a solid increase compared to a lower level of last year, for the larger part driven by HBM-related demand for high-performance DRAM applications. In addition, bookings from the Chinese market remained at a strong level in the first quarter. Order intake in power/analog/wafer (excluding silicon carbide Epi) continued to be relatively low, reflecting the soft conditions in this market segment. 

Gross margin increased to 52.9% compared to 51.1% in the first quarter of last year, on the back of a generally positive mix, and in particular continued strong sales from China with above-average profitability. The operating profit margin decreased slightly from 31.2% to 30.0%. Operating expenses increased by a moderate 3% compared to the first quarter of last year.”


While market conditions are still mixed in the first part of the year, we expect the recovery in wafer fab equipment (WFE) spending to gradually pick up speed in the remainder of the year. We expect revenue in the second quarter of 2024, at constant currencies, to increase to a range of €660-700 million, which is higher than we indicated with our Q4 report.

We now project ASM’s revenue in the second half to increase 10% or more compared to the first half, at constant currencies. With that, we expect 2024 to be another growth year for ASM. We still expect sales from the Chinese market in the second half to be lower, but the decrease will be more moderate than we previously anticipated. Sales in advanced logic/foundry, mainly for GAA, and in the memory segment are expected to be higher in the second half.

In part supported by previously announced new customer wins we still expect our silicon carbide (SiC) Epi sales to increase by a meaningful double-digit percentage in 2024. However, this growth will be somewhat slower than we expected at the start of the year, as some SiC customers have recently been pushing out new investments. 

We reiterate our revenue target for 2025 (range of €3.0-3.6 billion), driven by an expected rebound in the WFE market, including the move of GAA 2nm technology into high-volume manufacturing in 2025, and a further recovery in the memory markets.

Annual General Meeting

On March 26, 2024, ASM published the agenda, convocation, and other materials for the 2024 Annual General Meeting (AGM), to be held on May 13, 2024, in Almere, which as also earlier announced, includes, amongst other things, approvals of:

  • the annual accounts of 2023;
  • the proposal to declare a regular dividend of €2.75 per common share;
  • the reappointment of Mr. Lamouche and the appointment of Ms. Micki and Mr. Van den Brink as members of the Supervisory Board;
  • the appointment of Ernst & Young Accountants LLP as auditor for the financial year 2025;
  • a change of the remuneration policy for, and remuneration of, the Supervisory Board;
  • a proposal to withdraw common shares; and,
  • an amendment to ASM’s articles of association.

Please refer to the AGM documents available on our website for more detailed information.

About ASM

ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International's common stock trades on the Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, visit ASM's website at

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, pandemics, 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.

Quarterly earnings conference call details

ASM will host the quarterly earnings conference call and webcast on Wednesday, April 24, 2024, at 3:00 p.m. CET.

Conference-call participants should pre-register using this link to receive the dial-in numbers, passcode and a personal PIN, which are required to access the conference call.

A simultaneous audio webcast and replay will be accessible at this link.

Investor and media relations Investor relations
Victor Bareño Valentina Fantigrossi
T: +31 88 100 8500 T: +31 88 100 8502
E: E:


To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

The Board and management of the Company, as well as companies affiliated with them, intend to exercise warrants corresponding to approximately 27 percent of the outstanding warrants of series TO7 in Terranet AB23.5.2024 11:20:00 CEST | Press release

Terranet AB (publ) (”Terranet” or the "Company") hereby announces the Board and management of the Company, as well as companies affiliated with them, intend to exercise their warrants of series TO7, an investment of approximately SEK 3.6 million, corresponding to approximately 27 percent of the total amount of outstanding warrants of series TO7. The subscription period for the warrants of series TO7 is currently ongoing and will continue up until June 3, 2024. The Board and management of the Company, as well as companies affiliated with them, intend to exercise their warrants of series TO7 as detailed below: NamePositionSubscribed amount, number of TO7Subscribed amount, SEKMaida Vale Capital ABMajor shareholder47,358,8583,457,197Magnus AnderssonCEO833,33160,833Anders BlomMember of the Board520,00037,960Torgny HellströmChairman of the Board333,33324,333Total 49,045,522 3,580,323 The subscription of warrants of series TO7 will on Maida Vale’s part result in a significant increase of the

Styrelse och ledning i Bolaget, samt till dem närstående bolag, avser nyttja teckningsoptioner motsvarande cirka 27 procent utestående teckningsoptioner av serie TO7 i Terranet AB23.5.2024 11:20:00 CEST | Pressemelding

Terranet AB (publ) (”Terranet” eller ”Bolaget”) meddelar härmed att styrelse och ledning i Bolaget, samt till dem närstående bolag, avser nyttja sina innehav av teckningsoptioner av serie TO7, en investering om sammanlagt cirka 3,6 MSEK, motsvarande cirka 27 procent av det totala antalet utestående teckningsoptioner av serie TO7. Teckningsperioden för teckningsoptionerna av serie TO7 pågår fram till och med den 3 juni, 2024. Styrelse och ledning i Bolaget, tillsammans med närstående bolag, avser åtminstone att nyttja sina innehav av TO7 enligt följande: NamnRollTeckning, antal TO7Teckning, SEKMaida Vale Capital ABStörre aktieägare 47 358 858 3 457 197 Magnus AnderssonVD 833 331 60 833 Anders Blom Styrelseledamot520 00037 960Torgny Hellström Styrelseordförande 333 333 24 333 Totalt 49 045 522 3 580 323 Nyttjandet av TO7 för Maida Vale kommer att innebära en betydande ökning av bolagets ägarandel i Terranet. Sammanlagt avser styrelse och ledning, tillsammans med närstående bolag, åtminst

Debitormassens sammensætning (CK92)23.5.2024 11:04:24 CEST | pressemeddelelse

I medfør af kapitalmarkedsloven § 24, oplyser DLR Kredit hermed om debitormassens sammensætning (CK92) pr. torsdag den 23 maj 2024. Oplysningerne fremgår af vedhæftede fil. Denne meddelelse er offentliggjort med henblik på opfyldelse af transparensdirektivets krav om offentliggørelse. Spørgsmål kan rettes til: Head of Rating & IR Jakob Kongsgaard Olsson, tlf. 33 42 07 06. Med venlig hilsen DLR Kredit A/S Vedhæftet fil ck92-2024-05-23

Major Shareholder Announcement23.5.2024 10:56:02 CEST | Press release

In accordance with Section 30 of the Capital Markets Act, Pandora A/S hereby announces that BlackRock, Inc. has notified the company that its subsidiary, BlackRock Investment Management (UK) Limited, now controls less than 5% of the voting rights and share capital in Pandora A/S. In total, BlackRock, Inc. controls 10.66% of the voting rights and share capital in Pandora A/S. ABOUT PANDORA Pandora is the world’s largest jewellery brand. The company designs, manufactures and markets hand-finished jewellery made from high-quality materials at accessible price points. Pandora jewellery is sold in more than 100 countries through 6,700 points of sale, including more than 2,600 concept stores. Headquartered in Copenhagen, Denmark, Pandora employs 33,000 people worldwide and crafts its jewellery at three facilities in Thailand. Pandora is committed to leadership in sustainability and is sourcing recycled silver and gold for all of its jewellery, just as the company has set out to halve greenho

CORRECTION: Suominen – transfer of the company’s own shares23.5.2024 10:45:00 CEST | Press release

Correction: Correct number of shares transferred on May 16, 2024 is 25,088 and the correct number of treasury shares after the transfer is 541,672. Original release on May 21, 2024 stated incorrectly that number of shares transferred would be 25,090 and the total number of treasury shares after the transfer would be 541,670. Suominen Corporation's stock exchange release on May 23, 2024 at 11:45 a.m. (EEST) Following the decision taken at Suominen’s Annual General Meeting on April 4, 2024, Suominen has transferred 25,088 shares to the members of the Board of Directors on May 16, 2024 as part of the remuneration of the Board. According to the decision taken at the Annual General Meeting, 25% of the annual remuneration is paid in the company’s shares. After the transfer, the company holds a total of 541,672 treasury shares. The resolutions of the Annual General Meeting were communicated in a stock exchange release on April 4, 2024. SUOMINEN CORPORATION For more information, please contact

HiddenA line styled icon from Orion Icon Library.Eye