ASM ANNOUNCES Q4 2022 REVENUE ABOVE GUIDANCE, DRIVEN BY SUPPLY CHAIN IMPROVEMENT

Rhea-AI Summary

ASM International N.V. reported strong financial results for Q4 2022, with revenue reaching approximately €720 million, exceeding previous guidance of €630-660 million. This growth was driven by improved supply chain conditions and a higher conversion of backlog. The company secured orders worth about €820 million, primarily from the power/analog/wafer segment, particularly in the silicon carbide epitaxy (LPE) business. The operating margin is expected to be around 26%, excluding amortization costs. ASM will disclose detailed Q4 and full-year 2022 results on February 28, 2023.

Positive

• Q4 2022 revenue of approximately €720 million, exceeding guidance.
• Strong order intake of around €820 million, primarily in power/analog/wafer segment.
• Expected operating margin of 26%, excluding amortization costs.

Negative

• None.

Almere, The Netherlands
January 17, 2023, 17:45 p.m. CET

ASM International N.V. (Euronext Amsterdam: ASM) today announces that revenue in the fourth quarter of 2022 was ahead of the previous guidance.

Based on preliminary and unaudited numbers, sales in Q4 2022 increased to around €720 million mainly due to better-than-expected supply chain conditions and higher conversion of the backlog as a result thereof, exceeding the previous guidance of €630-660 million published in our press release on November 28, 2022. Although we are still faced with certain supply chain challenges, the situation improved more than expected. Thanks to solid execution by our suppliers and Global Operations team we were able to complete and ship additional tools in the final weeks of December.

Orders amounted to approximately €820 million in Q4 2022, above the level that was implied by the guidance for a book-to-bill of a bit above 1 that we mentioned in our press release of November 28, 2022. The upside was predominantly driven by the power/analog/wafer segment, including an exceptionally high order intake in our silicon carbide epitaxy business (LPE). Next to strong underlying demand, the increase in LPE’s orders was driven by some customers bringing forward orders that are scheduled for shipment in the latter part of 2023.

Operating margin for Q4 2022 is expected to be approximately 26%, excluding PPA (purchase price allocation) amortization related to the acquisition of LPE.

On February 28, 2023, ASM will report fourth quarter and full year 2022 financial results and will then also provide guidance for 2023 Q1 and Q2 revenue.
                     
About ASM International

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 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 Regulation. 

CONTACT

Investor and media contact:
Victor Bareño
T: +31 88 100 8500
E: investor.relations@asm.com

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• 20230117 ASM ANNOUNCES Q4 2022 REVENUE ABOVE GUIDANCE, DRIVEN BY SUPPLY CHAIN IMPROVEMENT

FAQ

What was ASM International's Q4 2022 revenue?

ASM International reported Q4 2022 revenue of approximately €720 million.

How did ASM International's Q4 2022 orders perform?

ASM International secured orders worth about €820 million in Q4 2022.

What is ASM International's expected operating margin for Q4 2022?

The expected operating margin for ASM International in Q4 2022 is around 26%, excluding amortization.

When will ASM International report its full-year 2022 results?

ASM International will report its full-year 2022 results on February 28, 2023.

What factors contributed to ASM International's revenue growth in Q4 2022?

Revenue growth was attributed to improved supply chain conditions and a higher conversion of backlog.