Almere, The Netherlands
April 21, 2020, 6 p.m. CET

ASM International N.V. (Euronext Amsterdam: ASM) today reports its first quarter 2020 operating results (unaudited) in accordance with IFRS.


EUR millionQ1 2019Q4 2019Q1 2020
New orders235.0 429.0 333.5 
Net sales248.8 400.6 325.1 
Gross profit margin %41.3% 51.5% 44.5% 
Operating result47.0 130.9 78.1 
Result from investments (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013)3.1 6.4 0.7 
Amortization intangible assets (resulting from the sale of ASMPT stake in 2013)(3.4) (3.5) (3.5) 
Net earnings49.4 104.5 74.1 
Normalized net earnings (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013 and result from sale of ASMPT shares)52.8 108.0 77.6 
  • New orders received of €334 million, driven in particular by foundry.
  • Net sales for the first quarter 2020 were €325 million, a decrease of 6% compared to the previous quarter (€345 million excluding patent arbitration settlement).
  • Gross profit margin was 44.5% in Q1 2020 compared to 51.5% in the previous quarter (43.6% excluding patent arbitration settlement).
  • Operating result of €78 million, up €3 million compared to the previous quarter (€75 million excluding patent arbitration settlement).
  • Normalized net earnings for the first quarter 2020 decreased by €30 million compared to Q4 2019. Excluding the patent arbitration settlement, normalized net earnings in Q1 showed an increase.


“Our top priority is the health and safety of our employees and their families, and our customers and partners. Since the global outbreak of the COVID-19 pandemic we took all appropriate actions to protect our staff and to maintain business operations for customers in a safe manner. I’m extremely proud of all the efforts and dedication shown by ASM’s employees in this regard. While measures taken across the world in the form of lockdowns and transport restrictions to contain the COVID-19 outbreak created a number of challenges in our supply chain and in our logistical operations, our company continued to deliver a solid performance,” said Chuck del Prado, President and Chief Executive Officer of ASM International. “In Q1 we realized sales of €325 million, 6% below the Q4 level excluding the proceeds of the arbitration settlement, however at the high end of the guidance of €310-330 million and 31% above the level in the same period of last year. The sales level was driven by continuous high demand in the logic/foundry segment. Our Q1 order intake, at €334 million, was slightly above our guidance of €310-330 million. Our cash position in the quarter further strengthened and stood at nearly €530 million at the end of the quarter.”


For Q2 on a currency comparable level we now expect sales of €300-350 million. We slightly widened the range by reducing the lower end compared to the earlier indicated range of €330-350 million. The widening of the range is fully attributable to risks related to possible disruptions in our supply chain and logistical operations as a result of additional COVID-19 related actions taken by governments so far. Q2 bookings, on a currency comparable level, are expected to be in the range of €280-310 million. Providing a forecast for the WFE market for the year as a whole is very difficult given the current market uncertainties, but we expect ASMI to start the second half of the year with a strong order book.


On April 6, 2020, ASMI published the agenda for the 2020 Annual General Meeting of Shareholders (AGM), to be held on May 18, 2020, which, as also earlier announced, includes amongst others the following matters:

  • proposal to appoint Mr. Benjamin Loh as member of the Management Board;
  • proposal to appoint Mrs. Monica de Virgiliis and Mr. Didier Lamouche as members of the Supervisory Board, to re-appoint Mr. Martin van Pernis as member of the Supervisory Board;
  • proposal to declare a regular dividend of €1.50 per common share and an extraordinary dividend of €1.50 per common share. As €1.00 per common share was already paid as an interim dividend on November 12, 2019, the remaining dividends amount to €2.00 per common share; and
  • proposal to cancel 1.5 million treasury shares.

Please refer to the AGM documents available on our website for more detailed information.

Given the COVID-19 outbreak and the related health risks, ASMI aims to act responsibly to protect the safety of its personnel, shareholders, customers and any other stakeholders. Today the Dutch House of Representatives and Senate have adopted emergency legislation that temporarily will facilitate Annual General Meetings of Shareholders without physical attendance of shareholders (or others). The new legislation will likely enter into force within the coming days. In anticipation hereof, ASMI will not allow its shareholders to attend the AGM in person. Any changes will be made available through our website (

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

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.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

ASM International will host an investor conference call and web cast on Wednesday April 22, 2020, at 15:00 Continental European Time (9:00 a.m. - US Eastern Time).

The teleconference dial-in numbers are as follows:

  • United States: +1 646 787 1226
  • International: +44 (0) 203 009 5709
  • The Netherlands: +31 (0)20 715 7566
  • Access Code: 2966178

A simultaneous audio web cast and replay will be accessible at


Investor contact:

Victor Bareño
T: +31 88 100 8500

Media contact:

Ian Bickerton
T: +31 625 018 512

Press Release Q1_ 2020 FINAL