ASM INTERNATIONAL N.V. REPORTS FIRST QUARTER 2015 RESULTS
Almere, The Netherlands
April 23, 2015
ASM International N.V. (NASDAQ: ASMI and Euronext Amsterdam: ASM) today reports its first quarter 2015 operating results (unaudited) in accordance with US GAAP.
| || Quarter |
| EUR million || Q1 2014 || Q4 2014 || Q1 2015 |
| New orders || 172.1 || || 154.4 || || 158.3 || |
| Net sales || 150.7 || || 124.3 || || 162.0 || |
| Gross profit margin % || 43.7 || % || 43.0 || % || 43.3 || % |
| Operating result || 32.5 || || 13.4 || || 28.5 || |
| Result from investments (excl. Amortization intangible assets resulting from the sale of the 12% stake of ASMPT) || 5.7 || || 8.9 || || 13.4 || |
| Amortization intangible assets resulting from the sale of the 12% stake of ASMPT || (5.4 || ) || (6.0 || ) || (6.6 || ) |
| Net earnings || 27.1 || || 21.0 || || 60.0 || |
| Normalized net earnings (excl. Amortization intangible assets resulting from the sale of the 12% stake of ASMPT) || 32.5 || || 27.0 || || 66.6 || |
Net sales for the first quarter 2015 were €162 million, an increase with 30% compared to the previous quarter. Year-on-year net sales increased with 7%.
New orders at €158 million were 3% above the Q4 2014 level.
Normalized net earnings for the first quarter 2015 increased by €40 million compared to the fourth quarter 2014, mainly due to a more than doubling of the operating result and a €20 million higher currency effect on cash held in foreign currencies, especially US dollar. The result from investments increased with €4 million.
Commenting on the results, Chuck del Prado, President and Chief Executive Officer of ASM International said:
"2015 started strongly for ASMI. We realized revenues of €162 million, 30% above the Q4 level, with again a gross margin of above 43%. (PE)ALD demand remained strong across a broad customer base. Our order intake remained healthy and was with €158 million at the high end of our expected range."
On a currency comparable level we expect Q2 sales to be between €180 and €200 million, while the Q2 order intake is expected to be in the range of €160-180 million. For the second half of 2015 the current visibility remains limited.
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. On March 31, 2015 of the total program 60% has been repurchased of which 31% was repurchased in Q1 2015. Further details as well as a weekly update of the share repurchases under this program can be found on our website (www.asm.com/investors).
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 Friday, April 24, 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 3363
International: + 44 (0)20 3427 1917
The Netherlands: + 31 (0)20 721 9158
Access Code: 5913769
A simultaneous audio web cast will be accessible at www.asm.com.
T: +31 88 100 8500
Ian Bickerton Press Release First Quarter 2015 Results
T: +31 625 018 512