ASM INTERNATIONAL N.V. REPORTS SECOND QUARTER 2017 RESULTS
(Thomson Reuters ONE) -
Almere, The Netherlands
July 25, 2017
ASM International N.V. (Euronext Amsterdam: ASM) today reports its second
quarter 2017 operating results (unaudited) in accordance with IFRS.
FINANCIAL HIGHLIGHTS
ASMI results based on IFRS.
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Quarter
EUR million Q2 2016 Q1 2017 Q2 2017
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New orders 159.1 204.2 205.9
Net sales 138.7 144.5 202.0
Gross profit margin % 43.8 % 43.5 % 43.7 %
Operating result 16.7 14.8 37.7
Result from investments (excluding amortization
intangible assets resulting from the sale of the 12%
stake of ASMPT) 16.4 35.4 30.9
Amortization intangible assets resulting from the sale
of the 12% stake of ASMPT (6.7 ) (5.8 ) (7.3 )
Net earnings 35.6 35.9 132.1
Normalized net earnings (excluding amortization
intangible assets resulting from the sale of the 12%
stake of ASMPT and result from sale and dilution of
ASMPT stake) 42.3 41.6 55.6
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· New orders at ?206 million were 1% above the Q1 2017 level and 29% above
last year's Q2 level.
· Net sales for the second quarter 2017 were ?202 million, an increase of
40% compared to the previous quarter. Year-on-year net sales increased with 46%.
· Net earnings of ?132 million in the second quarter included a result of
?84 million from the 5% sale and dilution of the ASMPT stake.
· Normalized net earnings for the second quarter 2017 increased by ?14
million compared to the first quarter 2017. Operating result increased to ?38
million. The financing result included ?11 million negative effects from
currencies compared to ?7 million negative effects in the first quarter. The
result from investments decreased with ?4 million due to the dilution of our
stake in ASMPT. Moreover the ASMPT results in the first quarter included a one-
off non-cash gain of ?10 million related to the revaluation of the convertible
bond.
COMMENT
Commenting on the results, Chuck del Prado, President and Chief Executive
Officer of ASM International said: "In Q2 we realized sales of ?202 million,
which was slightly above our guidance and at a historical high quarterly level.
The order intake for Q2, at ?206 million, came in at the high end of the
forecast and was also at the highest level in the company's history. Order
intake in ALD was primarily strong from the 3D-NAND and Foundry segments. We
also received several Intrepid Epitaxy orders in Q2."
OUTLOOK
Based on our current assessment, we continue to expect a clear year-on-year
improvement in the single wafer ALD market in 2017, with demand in the
Logic/Foundry segment remaining healthy and a strong increase in the 3D-NAND
segment.
For Q3 we expect a sales level of ?170-190 million, on a currency comparable
level, while for the second half of 2017 as a whole we expect a sales level
higher than in the first half of 2017. After the very strong orders in the past
two quarters we expect order intake in Q3 at a still healthy level of ?150-170
million, on a currency comparable level.
SHARE BUYBACK PROGRAM
On May 25, 2016, the Annual General Meeting of Shareholders authorized ASMI to
acquire up to a maximum of 10% of its shares for a period of 18 months. On
October 26, 2016, ASMI announced a share buyback program for the repurchase of
up to ?50 million of the Company's common shares within the 2016-2017 time
frame. On March 2, 2017, ASMI announced that its Management Board authorized an
increase in this program to ?100 million. The 2016-2017 program started on
December 13, 2016 and is part of ASMI's commitment to use excess cash for the
benefit of its shareholders. On June 30, 2017, 77.7% of the program was
completed at an average share price of ?49.93.
On April 24, 2017, ASMI announced a partial sale of its ASMPT stake, whereby
ASMI indicated to use the proceeds of approximately ?245 million for a new share
buyback program. The program will start as soon as the current program has been
completed. During the Annual General Meeting of Shareholders of May 22, 2017 the
Board was again authorized to acquire up to 10% of ASMI shares for a period of
18 months. During the same meeting it was approved to cancel 1.5 million
treasury shares.This is expected to become effective as of July 29, 2017. In
this respect it is noted that the company held 4.82 million treasury shares as
per June 30, 2017, which is more than sufficient to cover the outstanding
options and restricted/performance shares.
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, 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.
ASM International will host an investor conference call and web cast on
Wednesday, July 26, 2017 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 3363
· International: +44 (0)20 7136 6283
· The Netherlands: +31 (0)20 716 8296
· Access Code: 1119350
A simultaneous audio webcast and replay will be accessible at www.asm.com.
CONTACT
Investor contact:
Victor Bareño
T: +31 88 100 8500
E: victor.bareno(at)asm.com
Media contact:
Ian Bickerton
T: +31 625 018 512
Press Release Second Quarter 2017 Results:
http://hugin.info/132090/R/2122946/809602.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ASM International NV via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.07.2017 - 17:58 Uhr
Sprache: Deutsch
News-ID 553834
Anzahl Zeichen: 9649
contact information:
Town:
Almere
Kategorie:
Business News
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