ASM announces the results of the fourth quarter of 2024

Almere, Netherlands

February 25, 2025, 6 p.m. CET

Eight year in a row with a double -digit total annual growth and surpassed WFE in 2024

ASM International NV (Euronext Amsterdam: ASM) today gives its results in the fourth quarter of 2024 (unchecked).

Financial highlights

¹ Settled numbers are non-IFRS performance measures. In Appendix 3 you will find a reconciliation of non-IFRS performance measures.

• New orders of € 731 million in the fourth quarter of 2024 increased the year in constant currencies by 8% (also 8%, as reported), with the increase again mainly from the solid demand for gate-all-around (GAA) and a high bandwidth memory (HBM (HBM) is due (HBM)) dram.

• The turnover of € 809 million increased by 27% for constant currencies (by 28%, as stated) compared to the fourth quarter of the previous year and at the top of the guidelines (€ 770-810 million).

• An improvement in the adjusted gross profit span is due to a strong mix.

• The adapted operating area margin rose to 28.1%, compared to 22.3% in the fourth quarter of 2023 mainly due to a higher gross parade and a moderation of SG&A, some of which are compensated for by higher systems in F&E.

• The sales for the first quarter of 2025 are expected to be in the range of € 810 to € 850 million.

comment

“ASM continued to deliver a solid performance in 2024. Sales increased by 12% in constant currencies and exceeded the market for Wafer Fab Equipment (WFE), which rose in 2024 by a mid-single-room percentage. This marks this Eighth year of the double year as a result of our company of our company digit growth. The sales climber in the fourth quarter was due to higher sales in the logic/foundry of the leading edge. from the level. Dalented by a decline in the China demand.

The growth of the WFE market was uneven in 2024: AI-related segments continued to rose strongly, but other parts of the market showed a mixed performance. For ASM, this meant strong dynamics in our GAA-related applications. Since the Mix of Pilot Line shifted to highly volume production, both the quarterly GAA-related sales and orders in the course of 2024 rose strongly. We also recorded an increase in demand for HBM-related drama applications in connection with high services in 2024. This promoted a back rash in our total memory turnover of a relatively low level of 11% in 2023 to a very strong level of 25% in 2024. The turnover from the Chinese market remained strong in 2024, but as expected, it was noticeable from the first half the second half and also from Q3 to the fourth quarter. The turnover in the market for performance/analog/Wafer in 2024 fell by a significant double-digit percentage, which reflects the cyclical slowdown in the markets of the automotive and industrial end. Our SIC-EPI rose by a ZN in 2024.

The financial results were again strong in 2024. The adjusted gross margin rose to 50.5%in 2024, supported by mix, a persistent significant contribution from the Chinese market and improvements in our business activities to reduce costs. In 2024, adjusted operating profit increased by 17%. In view of our growing pipeline, we have further increased the adjusted F&E expenditure (+20%), while the increase in adjusted SG and A expenditure (+3%) was annoyed, which reflects the continued cost control. The Free Cashflow rose 23% in 2024 to a record level of € 548 million.

We stay on our way to our strategic goals and continue to invest in our employees, in innovation and expansion, including our planned new facilities in Hwaseong, Korea and Scottsdale, Arizona. We have also made further progress in the acceleration of sustainability. We released our climate transition plan last year and the first milestone as the first milestone reached our goal of 100% renewable electricity in 2024, which contributed to a decline in 1 and 2 greenhouse gas emissions by 52%. “

outlook

The market conditions will continue to be mixed to examine in 2025, whereby the WFE expenditure is expected to increase slightly. The logic/foundry in the leadership is expected to have the highest growth in 2025. However, some further shifts of the Capex forecasts were carried out at the customers in this segment. Overall, our forecast for a significant increase in GAA-related sales in 2025 is unchanged. In memory, we expect a healthy turnover in 2025, which is supported by the continued solid demand for HBM-related dram, although it is too early to determine whether the storage sale is on the same very strong level as in 2024. are still in a cyclical correction without signs of recovery at short notice. In Sic Epi, the prospects weakened. Taking into account the recently announced new US export controls and as in our press release of December 4, 2024, our income in China is expected in 2025, whereby sales with devices from this market in a number of low to high 20s are expected the ASM.

We confirm our goal for sales in a range of € 3.2 to € 3.6 billion in 2025, but it is too early to create a more specific forecast due to market uncertainty and visibility for the second half of the year.

In the event of constant currencies, we expect sales for the first quarter of 2025 in an area of ​​€ 810 to € 850 million, with another increase in the second quarter to be projected compared to the second quarter.

Share buyback program

ASM announces today that his board of directors approves a new buyback program of up to 150 million euros in the company's ordinary shares within the time framework 2025/2026. This buyback program is part of ASM's commitment to use excess cash for the benefit of its shareholders.

Dividend proposal

ASM will propose to the upcoming Annual General Meeting 2025 on May 12, 2025 to explain a regular dividend of € 3.00 per ordinary share over 2024, compared to € 2.75 per ordinary share over 2023.

Change of replacement and service revenue -reporting definition

In the effective 2025, ASM will include the income from the installation and qualification as part of Spares & Services Revenue in terms of our company organization structure at ASM. Further details of the quarterly and the annual effects on sales of 2024 can be found in Appendix 4.

About ASM

ASM International NV, its headquarters in Almere, the Netherlands and its subsidiaries design and provided equipment and process solutions for the production of semiconductor devices for wafer processing and have institutions in the USA, Europe and Asia. Chief shares of ASM International on Euronext Amsterdam Stock Exchange (symbol: ASM). For more information, see the ASM website at www.asm.com.

Administration to exams Expenditures: All matters discussed in this press release, with the exception of historical data, are future -oriented statements. Future -oriented statements contain risks and uncertainties that can lead to the fact that the actual results differ significantly from those in the future -oriented statements. These include the economic conditions and trends in the semiconductor industry in general and the time of industry cycles within the framework of the industry, currency fluctuations, corporate transactions, financing and liquidity issues, the success of restructuring, the time of considerable orders, market market, market, competitive factors, legal disputes with intellectual property, shareholders or other topics, commercial and economic disorders due to of natural disasters, terrorist activities, armed conflicts or political instability, changes in import/export regulations, epidemics, pandemics and other risks specified in the reports and degrees of the company. The company neither commits nor intends to update or revise future statements in order to reflect future developments or circumstances.

This press release contains insider information within the meaning of Article 7 paragraph 1 of the EU market abuse regulation.

Quarterly income conference details

ASM will organize the quarterly usage conference and webcast on Wednesday, February 26, 2025, at 3:00 p.m. CET.

The participants of the conference call should preliminate this link in order to receive the dial-in numbers, the pass code and a personal PIN required for access to the telephone conference.

A simultaneous audio webcast and a repetition is accessible under this link.