ASM UPDATES Q4 GUIDANCE
Almere, The Netherlands
November 28, 2022, 5:45 p.m. CET
ASM International N.V. (Euronext Amsterdam: ASM) today provides an update on the expected impact of the recently announced US export restriction as well as an update on the guidance for Q4 2022.
On October 25, 2022, we reported that the export regulations that were issued by the US government on October 7, 2022, had an expected negative impact on 40% or more of our sales to China, based on a conservative scenario (and with equipment sales in China accounting for 16% of our total revenue in the first nine months of 2022). Following extensive clarifications and subsequent internal reviews, we now expect that the recently announced US export restrictions will negatively impact our China sales between 15-25%.
As a result of somewhat higher sales to China, combined with a slightly higher than expected conversion of backlog into shipments in other regions, we now project Q4 2022 sales of €630-660 million, up from €600-630 million previously expected.
On October 25, we also announced that we had reduced our Q3 2022 backlog as a result of the export restrictions which were announced on October 7, 2022. We now expect to rebook part of these tool orders in Q4 2022 and in early 2023, depending on the outcome of discussions with customers. In part driven by these rebookings, and also supported by continued healthy demand in the logic/foundry, and power/analog segments, and including LPE, we expect the book-to-bill in Q4 2022 to be a bit above 1.
About ASM International
ASM International N.V., headquartered in Almere, the Netherlands, and its subsidiaries design and manufacture equipment and process solutions to produce semiconductor devices for wafer processing, and have facilities in the United States, Europe, and Asia. ASM International's common stock trades on the Euronext Amsterdam Stock Exchange (symbol ASM). For more information, visit ASM'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, changes in import/export regulations, 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.
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