Almere, The Netherlands
July 28, 2020, 6 p.m. CET

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


EUR million Q2 2019 Q1 2020 Q2 2020
New orders 373.1 333.5 298.0
Net sales 363.3 325.1 341.8
Gross profit margin % 59.0 44.5 48.3
Operating result 150.2 78.1 87.6
Result from investments (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013) 2.0 0.7 10.7
Amortization intangible assets (resulting from the sale of ASMPT stake in 2013) (3.4) (3.5) (3.3)
Net earnings 121.6 74.1 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) 125.0 77.6 77.4
  • New orders were €298 million.
  • Net sales for the second quarter 2020 were €342 million and increased 5% compared to the previous quarter.
  • Gross profit margin was 48.3% in Q2 2020 compared to 44.5% in the previous quarter, due to an exceptionally strong mix. As a consequence operating result was €88 million compared to €78 million in the previous quarter.
  • Normalized net earnings for the second quarter 2020 decreased slightly to €77 million compared to Q1 2020. Results from investments increased to €11 million. Net earnings were impacted by currency translation results which changed from €12 million positive in Q1 to €6 million negative in Q2.
  • Note that the Q2 2019 results included the patent litigation settlement of €103 million with Kokusai which positively impacted the results and new orders.


“Having joined as new CEO following the AGM on May 18, I’m pleased to report that ASM continued to deliver strong results in Q2,” said Benjamin Loh, President and Chief Executive Officer of ASM International. “I’m impressed by the way all our employees responded to the pandemic. While prioritizing health and safety, our team showed strong commitment and creativity to make sure we continue to serve our customers in the best possible way. Supply chain and logistical conditions resulted in operating challenges during Q2, but started to improve towards the end of the quarter as lockdown measures and transport restrictions have gradually been lifted in especially Asia Pacific and Europe. In Q2 we realized sales of €342 million, at the high end of the guidance of €300-350 million, up 5% from the level in Q1 and 32% above the level in Q2 of last year (excluding the proceeds of the patent litigation settlement in that period). The sales level was driven by continuous high demand in the logic/foundry segment. Our Q2 order intake, at €298 million, was slightly higher than the midpoint of our guidance of €280-310 million. Supported by an exceptionally strong mix in the quarter, our gross margin increased, for the first time in history, to a level of 48%.”


For Q3, on a currency comparable level, we expect sales of €300-320 million. Q3 bookings, on a currency comparable level, are expected to be in the range of €280-300 million. Based upon the current market developments we expect the wafer fab equipment (WFE) market to grow with a mid- to high single digit percentage in 2020. Our Q4 sales are expected to be at least at the same level as in Q3, hence we expect to outgrow the WFE market in 2020.


The execution on the €100 million share buyback program, announced on February 25, 2020, has started on June 2, 2020, and will end as soon as the aggregate purchase price of the common shares acquired by ASMI has reached €100 million, but ultimately on November 17, 2021. On June 30, 2020, 6.9% of the program was completed at an average share price of €119.16.

ASMI further announces that the withdrawal of 1.5 million treasury shares, as earlier approved by the AGM 2020, has become effective as of July 21, 2020. As of that date, the number of issued shares is 49,797,394.

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 N.V will host an investor conference call and webcast on Wednesday, July 29, 2020, at 15:00p.m. Continental European Time (9:00 a.m. - US Eastern Time).

The teleconference dial-in numbers are as follows:

  • United States:          +1 646 7413 167
  • International:            +44 (0) 2071 928 338 
  • The Netherlands:     +31 (0) 20 79 566 14
  • Access Code:          4275144

A simultaneous audio webcast and replay will be accessible at


Investor and media contact:

Victor Bareño
T: +31 88 100 8500

20200728 - Financial results Q2 2020