Press Releases - April 20, 2022


Almere, The Netherlands
April 20, 2022, 6 p.m. CET

ASM International N.V. (Euronext Amsterdam: ASM) today reports its first quarter 2022 operating results (unaudited).

Record high revenue and orders in Q1, continued revenue growth expected for the rest of the year


EUR million Q1 2021 Q4 2021 Q1 2022
New orders 410.6 644.9 705.7
YoY change % as reported / at constant currencies 23 % / 31 % 70 % / 70 % 72 % / 65 %
Revenue 394.0 491.3 516.9
YoY change % as reported / at constant currencies 21 % / 29 % 42 % / 40 % 31 % /25 %
Gross profit margin % 49.5 % 47.0 % 47.8 %
Operating result 124.5 131.3 143.0
Operating result margin % 31.6 % 26.7 % 27.7 %
Share in income of investments in associates (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013) 13.9 25.8 23.7
Amortization intangible assets (resulting from the sale of ASMPT stake in 2013) (3.0) (3.2) (3.2)
Net earnings 122.5 134.9 142.5
Normalized net earnings (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013 and result from sale of ASMPT shares) 125.5 138.1 145.7
  • New orders of €706 million for the first quarter 2022 increased by 65% at constant currencies compared to the same period last year (72% as reported).
  • Year-on-year revenue growth for the first quarter 2022 was €25% at constant currencies (31% as reported).
  • Gross profit margin of 47.8% in the first quarter 2022 was lower compared to 49.5% in the same quarter last year which reflected an exceptionally strong mix.
  • Operating result for the first quarter 2022 improved from €125 million last year to €143 million this year driven again by strong revenue growth.
  • Normalized net earnings for the first quarter 2022 were €146 million.

“ASM started the year with a strong performance, with again record quarterly levels of orders, revenue and results,” said Benjamin Loh, President and Chief Executive Officer of ASM International. “In the first quarter, our company delivered revenue of €517 million, an increase of 25% at constant currencies and in line with our guidance of €500-530 million, successfully navigating ongoing challenging supply chain conditions. The demand environment continued to be very robust. Our Q1 order intake increased year-on-year by 65% at constant currencies to €706 million. While orders were again led by record high logic/foundry demand, momentum was also strong in memory, and in the power/analog and wafer maker segments. We further stepped up investments to drive the growth of our company and at the same time delivered a solid 15% increase in operating profits in the first quarter, and a strong free cash flow of €99 million (excluding the acquisition of Reno)."

Supply chain conditions are expected to remain tight in the second quarter. For Q2 at constant currencies, we expect revenue of €540-570 million, in line with our previous forecast for a further sequential increase in Q2. Based on the current visibility, we expect revenue in the second half of 2022 to be clearly higher than the level in the first half, to a certain extent depending on the pace of improvement in supply chain conditions. Expectations are unchanged for the wafer fab equipment to increase by a mid to high teens percentage in 2022, a level which we are confident to outperform this year.

On April 1, 2022, ASMI published the agenda for the 2022 Annual General Meeting of Shareholders (AGM), to be held on May 16, 2022, which, as also earlier announced, includes amongst others, the proposals to:

  • appoint Mr. Hichem M’Saad as additional member of the Management Board;
  • change the remuneration policy for the Management Board and Supervisory Board;
  • re-appoint Mr. Marc de Jong as member of the Supervisory Board;
  • declare a regular dividend of €2.50 per common share over 2021; and
  • approve the annual accounts of 2021.

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

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 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, 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.

ASM International N.V will host an investor conference call and webcast on Thursday, April 21, 2022, at 3:00 p.m. Continental European Time (9:00 a.m. – US Eastern Time).

Conference call participants should pre-register using the link below to receive the Dial-In Numbers, Direct Event Passcode and unique Registrant ID, which will be needed to access the conference call.

Online registration for the conference call:

A simultaneous audio webcast and replay will be accessible at


Investor and media contact:
Victor Bareño
T: +31 88 100 8500
E: [email protected]

20220420 - Financial results Q1 2022

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