ASM INTERNATIONAL N.V. REPORTS FOURTH QUARTER 2014 RESULTS
(Thomson Reuters ONE) -
Almere, The Netherlands
March 4, 2015
ASM International N.V. (NASDAQ: ASMI and Euronext Amsterdam: ASM) reports today
its fourth quarter 2014 operating results (unaudited) in accordance with US
GAAP.
FINANCIAL HIGHLIGHTS
------------------------------------------------------+-------------------------
Quarter | Full Year
------------------------------------------------------+-------------------------
| Pro-forma (1)
EUR million Q4 2013 Q3 2014 Q4 2014| )2013 2014
------------------------------------------------------+-------------------------
New orders 133.1 156.2 154.4 | 479.6 602.1
|
Net sales 126.9 122.2 124.3 | 452.0 545.6
|
Gross profit margin % 39.3 % 43.2 % 43.0 %| 39.0 % 43.1 %
|
Operating result 15.8 17.2 13.4 | 44.7 90.5
|
Result from investments |
(excl. amortization and fair |
value purchase price |
allocation) 1.5 30.7 8.9 | 20.9 61.1
|
Remeasurement gain, realized |
gain on sale of ASMPT shares, |
amortization and fair value |
adjustments(1)) (343.2 ) (5.7 ) (6.0 )|1,006.4 (22.5 )
|
Net earnings (334.0 ) 54.6 21.0 |1,051.9 137.3
|
Normalized net earnings |
(excl. remeasurement gain |
realized gain on sale of |
ASMPT shares, amortization |
and fair value adjustments) 9.3 60.2 26.9 | 45.5 159.8
------------------------------------------------------+-------------------------
* Net sales for the fourth quarter 2014 increased with 2% compared to the
third quarter. Year-on-year net sales decreased with 2%.
* New orders at ?154 million were slightly above our guidance of a ?130-150
million range.
* Normalized net earnings for the fourth quarter 2014 decreased compared to
the third quarter, mainly due to a lower result from investments which
includes a provision for a tax settlement of ASMPT in Hong Kong for the
period 2001-2010 with an impact of ?9 million, and less positive currency
effects on cash we hold in foreign currencies (especially US$). Compared to
the same quarter last year, besides the effect of higher results from
investments and currencies, the improvement was mainly due to higher sales
in combination with effects of changes in our manufacturing operations and
supply chain.
(1) )Following the close of the sale on March 15, 2013 of a 12% share in ASMPT,
the entity in which the Back-end segment is organized, ASMI's shareholding is
reduced to 40%. As a consequence, as from March 15, 2013 the results of ASMPT
are deconsolidated. From that date onwards the net result of ASMPT is reported
on the line 'result from investments'. In 2013 a purchase price allocation took
place, which was finalized in the fourth quarter, resulting in the recognition
and subsequent amortization of certain intangible assets.
COMMENT
Commenting on the results, Chuck del Prado, President and Chief Executive
Officer of ASM International said:
"2014 was a strong year for ASM. We realized, excluding ASMPT, the highest sales
level ever with a stable gross margin during the year of approximately 43%.
(PE)ALD demand was strong and we extended our customer base. This creates a
solid base and has led to the decision to propose in the coming AGM an increase
of our dividend with 20% to ?0.60 per share. Q4 showed relatively stable sales
as compared to Q3, while our order intake at ?154 million was slightly above the
range as indicated. This established a strong backlog of ?176 million at the
beginning of 2015."
OUTLOOK
For Q1 we expect sales between ?150 and ?160 million. For Q2 we expect a double
digit sales increase as compared to Q1. For the second half of 2015 the current
visibility is limited. The Q1 order intake is expected to be in the range of
?145-165 million.
SHARE BUYBACK PROGRAM
On October 29, 2014, ASMI announced a share buyback program, to purchase up to
an amount of ?100 million of its own shares within the 2014-2015 time frame. The
repurchase program is part of ASMI's commitment to use excess cash for the
benefit of its shareholders.
ASMI intends to use part of the shares for commitments under employee share-
based compensation schemes.
The buyback program is executed by intermediaries through on-exchange purchases
or through off-exchange trades. The program started on November 24, 2014, and
will end on completion of the program but ultimately on November 20, 2015.
The maximum number of shares to be repurchased on any given day will not exceed
25% of the average daily trading volume on the regulated market on which
purchases are made, calculated over the last 20 trading days before the date of
repurchase. The program does not include the repurchase of ASMI's New York
Registry Share program. On March 3, 2015 of the total program 47% has been
repurchased of which 32% was repurchased in Q4 2014.
2014 ANNUAL REPORTS
On April 9, 2015 ASMI will publish its 2014 Annual Report on Form 20-F and
Statutory Annual Report. The reports will be published on our website at
www.asm.com.
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 NASDAQ (symbol ASMI) and the Euronext
Amsterdam Stock Exchange (symbol ASM). For more information, visit ASMI's
website at www.asm.com.
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of
1995: All matters discussed in this statement, 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, shareholder and other issues,
commercial and economic disruption due to natural disasters, terrorist activity,
armed conflict or political instability, epidemics and other risks indicated in
the Company's filings from time to time with the U.S. Securities and Exchange
Commission, including, but not limited to, the Company's reports on Form 20-F
and Form 6-K. The Company assumes no obligation nor intends to update or revise
any forward-looking statements to reflect future developments or circumstances.
ASM International will host an investor conference call and web cast on
Thursday, March 5, 2015 at 15:00 Continental European Time (9:00 a.m. - US
Eastern Time).
The teleconference dial-in numbers are as follows:
* United States: +1 646 254 3361
* International: + 44 (0)20 3427 1917
* The Netherlands: + 31 (0)20 716 8257
* Access Code: 7221867
A simultaneous audio web cast will be accessible at www.asm.com.
CONTACT
Investor contact:
Victor Bareño
T: +31 88 100 8500
E: victor.bareno(at)asm.com
Mary Jo Dieckhaus
T: +1 212 986 2900
E: maryjo.dieckhaus(at)asm.com
Media contact:
Ian Bickerton
T: +31 625 018 512
Press Release Fourth Quarter 2014 Results:
http://hugin.info/132090/R/1899576/674892.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ASM International NV via GlobeNewswire
[HUG#1899576]
Unternehmensinformation / Kurzprofil:
Datum: 04.03.2015 - 23:58 Uhr
Sprache: Deutsch
News-ID 376336
Anzahl Zeichen: 10475
contact information:
Town:
Almere
Kategorie:
Business News
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