ASM INTERNATIONAL N.V. REPORTS THIRD QUARTER 2020 RESULTS
Almere, The Netherlands
October 28, 2020, 6 p.m. CET
ASM International N.V. (Euronext Amsterdam: ASM) today reports its third quarter 2020 operating results (unaudited) in accordance with IFRS.
Strong quarterly results driven by continued logic/foundry demand and an exceptionally high gross margin
|EUR million||Q3 2019||Q2 2020||Q3 2020|
|Gross profit margin %||42.4||48.3||49.9|
|Result from investments (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013)||6.5||10.7||6.3|
|Amortization intangible assets (resulting from the sale of ASMPT stake in 2013)||(3.5)||(3.3)||(3.0)|
|Normalized net earnings (excluding amortization intangible assets resulting from the sale of ASMPT stake in 2013 and result from sale of ASMPT shares)||56.9||77.4||61.2|
- New orders at €303 million were 2% above the level of last quarter and 4% above the level of last year.
- Revenue for the third quarter 2020 was €315 million and decreased 8% compared to the previous quarter, half of that decrease is caused by exchange rate translation differences.
- Gross profit margin was 49.9% in Q3 2020 compared to 48.3% in the previous quarter, driven by an exceptionally strong mix. Operating result was €84 million compared to €88 million in the previous quarter, mainly due to lower sales, partly compensated by a higher margin percentage and lower costs.
- Normalized net earnings for the third quarter 2020 were lower at €61 million compared to €77 million in Q2 2020. Main reasons for the decline are the depreciation of the US dollar causing a translation result of €14 million negative as compared to the €6 million negative in Q2 and the €4 million lower result from investments.