COMMENT
“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)."
OUTLOOK
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.
ANNUAL GENERAL MEETING OF SHAREHOLDERS
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.