Q1 2026 ASM International NV Earnings Call Transcript
Key Points
- ASM International NV (ASMIY) reported Q1 2026 revenue of EUR863 million, at the high end of their guidance range, with a 16% year-on-year increase on a constant currency basis.
- The company achieved a strong gross margin of 53.3%, supported by a favorable product and customer mix, and cost reduction programs.
- Operating profit increased by 21% year-on-year, with the operating margin reaching a record 33.1%.
- ASM International NV (ASMIY) expects continued strong performance in advanced logic/foundry sales, driven by AI demand and the transition to 2-nanometer and 1.4-nanometer nodes.
- The company maintains a solid financial position with a cash position close to EUR1 billion, despite a negative free cash flow due to working capital outflow.
- Free cash flow was negative EUR48 million, primarily due to a working capital outflow marked by a sharp ramp in activity levels.
- Days of working capital increased significantly to 69 at the end of March, up from 45 at the end of December, driven by higher accounts receivable.
- CapEx is expected to be somewhat above the higher end of the guided range of EUR150 million to EUR250 million, indicating increased investment requirements.
- Visibility in China remains limited, with expectations of lower sales in the second half of 2026 compared to the first half, although year-on-year growth is anticipated.
- Supply chain constraints are causing increased lead times, putting pressure on the company's ability to meet rising demand.
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the ASM First Quarter 2026 Earnings Call. (Operator Instructions).
At this time, I would like to turn the conference over to Mr. Victor Bareño. Head of Investor Relations. Please go ahead, sir.
Thank you, operator. Good afternoon and thank you for joining our Q1 earnings call. With me today are our CEO, Hichem M'Saad; and our CFO, Paul Verhagen.
ASM issued its first quarter 2026 results yesterday at 6:00 p.m. Central European Time. For those of you who have not yet seen the press release, it is available on our website together with our latest investor presentation.
As always, we remind you that today's conference call may contain forward-looking statements in addition to historical information.
For more details on the risk factors relating to such forward-looking statements, please refer to our press releases and financial reports, all of which are available on
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