In This Article:
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Revenue Growth: 27% increase in Q4 2024, reaching EUR809 million.
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Full Year Sales Increase: 12% growth in 2024, totaling EUR2.9 billion.
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Gross Margin: 50.3% in Q4 2024, up from 49.4% in Q3 and 47.9% in Q4 2023.
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Net R&D Expense: Increased by 34% year-on-year in Q4 2024.
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SG&A Expenses: Decreased 10% from Q4 2023 at constant currencies.
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New Orders: EUR731 million in Q4 2024, up 8% year-on-year.
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Operating Profit: Increased 17% in 2024, with an operating margin of 28.0%.
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Free Cash Flow: Increased 23% to EUR584 million in 2024.
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CapEx: EUR168 million in 2024, up from EUR154 million in 2023.
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Shareholder Remuneration: EUR287 million spent on dividends and share buybacks in 2024.
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Proposed Dividend: EUR3 per share, up from EUR2.75 in the prior year.
Release Date: February 26, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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ASM International NV (ASMIY) reported a strong revenue growth of 27% in Q4 2024, reaching EUR809 million, which was at the upper end of their guidance.
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The company achieved its eighth consecutive year of double-digit growth, with full-year sales increasing by 12%, outpacing the wafer fabrication equipment (WFE) market growth.
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Gross margin improved to 50.3% in Q4 2024, up from 47.9% in Q4 2023, reflecting a favorable sales mix.
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ASM International NV (ASMIY) maintained a strong market position in atomic layer deposition (ALD) and expanded its addressable market with the transition to gate-all-around technology.
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The company achieved 100% renewable electricity in its worldwide operations, contributing to a 52% decrease in combined Scope 1 and 2 greenhouse gas emissions in 2024.
Negative Points
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Memory sales, although increased year-on-year, were lower compared to the elevated level in Q3 2024.
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Power, analog, and wafer sales remained soft and were sharply lower compared to Q4 2023, reflecting ongoing cyclical downturns in these markets.
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The company expects a normalization in China sales in 2025, with a projected decrease in sales contribution from China.
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ASM International NV (ASMIY) anticipates a further weakening in the silicon carbide market in 2025.
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The company faces increased competition from Chinese players in the semiconductor equipment market, which could impact its market share.
Q & A Highlights
Q: Have you seen any changes in the situation in China over the past months, particularly regarding revenue expectations? A: Our revenue projections for China remain unchanged. We haven't observed any significant changes in the projections made in recent months. (Hichem M'Saad, CEO)