ASM INTERNATIONAL N.V. REPORTS SECOND QUARTER 2016 RESULTS

Almere, The Netherlands July 28, 2016 ASM International N.V. (Euronext Amsterdam: ASM) today reports its second quarter 2016 operating results (unaudited) in accordance with IFRS. REPORTING 2016 With the 2015 Q4 earnings release, published on February 23, 2016, ASMI announced that as of January 1, 2016, it will report its financial results in accordance with IFRS...

New York, 28/07/2016 (informazione.news - comunicati stampa - elettronica)

 

 

 

With the 2015 Q4 earnings release, published on February 23, 2016, ASMI announced that as of January 1, 2016, it will report its financial results in accordance with IFRS. Up until the last reporting regarding 2015, ASMI's primary external and internal reporting has been based on US GAAP. In addition ASMI issued quarterly reconciliations of net earnings and shareholders' equity and (semi) annual financial statements prepared in accordance with International Financial Reporting Standards (IFRS). Following the voluntary delisting from NASDAQ, August 2015, ASMI migrated to IFRS as its only internal and external reporting standard from January 1, 2016 and discontinued the use of US GAAP as of the same date. During 2016 comparable results based on US GAAP will be presented, as from 2017 only results based on IFRS will be reported. The main deviations between IFRS and US GAAP are explained in Annex 2.

As from 2016 ASMI reports its results based on IFRS instead of US GAAP.

 

 

 

 

Commenting on the results, Chuck del Prado, President and Chief Executive Officer of ASM International said:

" Both Q2 revenues at EUR 139 million, and order intake at EUR 159 million came in at the high end of our guidance. Gross margin remained stable at around the 44%. Net result in Q2 improved strongly to EUR 42 million mainly due to the strong performance of ASMPT and favorable currency developments on cash holdings in foreign currencies."

 

 

2015 has shown a strong growth of the single wafer ALD market. We estimate this growth to continue whereby the single wafer ALD equipment market will double in the period 2015-2018/2019. We however expect the single wafer ALD market to show a double digit decline in 2016, caused by a low demand in Memory  which will not be offset by the strong increase in Logic/Foundries. Our single wafer ALD market share is expected to show an increase in 2016. We expect the single wafer ALD market to strongly improve again in 2017.

 

For Q3 we expect sales between EUR 135-150 million, while we expect an order intake of EUR 100-130 million, both on a currency comparable level. We expect a stronger second half in terms of sales as compared to the first half of 2016.

 

 

On August 31, 2016 ASM International will publish its Interim Financial report for the six months ended June 30, 2016. This report comprises regulated information within the meaning of articles 1:1 and 5:25d of the Dutch Financial Markets Supervision Act (Wet op het Financieel Toezicht) and includes consolidated condensed interim financial statements prepared in accordance with IAS 34, "Interim Financial Reporting", an interim management board report and a management board responsibility statement. The interim financial report for the six months ended June 30, 2016 will be available online at www.asm.com as from August 31, 2016.

 

 

October 28, 2015 ASMI announced that its Management Board authorized the repurchase of up to EUR100 million of the Company's common shares within the 2015-2016 time frame. This buyback program will be executed by intermediaries and will end as soon as the aggregate purchase price of the common shares acquired by ASMI has reached EUR100 million, but ultimately on November 20, 2016.

On May 25, 2016 the General Meeting of Shareholders authorized ASMI to acquire shares for a period of 18 months. The repurchase program is part of ASMI's commitment to use excess cash for the benefit of its shareholders.

The program started on November 26, 2015. On June 30, 2016, just over 65% of the program was completed at an average share price of EUR36.37.

 

 

 

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 .

 

 

 

 

ASM International will host an investor conference call and webcast on Friday, July 29, 2016 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 3427 1919

·      The Netherlands:     +31 (0)20 716 8296

·      Access Code:          485540

A simultaneous audio webcast will be accessible at www.asm.com .

 

 

 

 

 

Victor Bareño

T: +31 88 100 8500

E: victor.bareno@asm.com

 

 

Ian Bickerton

T: +31 625 018 512

 

Copyright GlobeNewswire

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