Q3 2025 ASMPT Ltd Earnings Call Transcript
Key Points
- ASMPT Ltd (ASMVF) experienced strong momentum driven by AI, with significant contributions from Advanced Packaging and mainstream businesses.
- The company solidified its leadership in Thermo-Compression Bonding (TCB) for High-Bandwidth Memory (HBM), achieving better yields and securing orders from multiple HBM players.
- ASMPT Ltd (ASMVF) reported a 7.6% quarter-on-quarter and 9.5% year-on-year increase in revenue, driven by growth in SMT and AI momentum.
- The company maintained a book-to-bill ratio above 1 for the sixth consecutive quarter, indicating strong demand and order fulfillment.
- ASMPT Ltd (ASMVF) delivered a profitable quarter, excluding strategic restructuring costs, and expects Q4 2025 revenue to exceed market consensus.
- The group's adjusted gross margin for the third quarter was lower than typical at 37.7%, impacted by a larger contribution from SMT and lower SEMI gross margin.
- Operating expenses increased by 6.2% quarter-on-quarter and 5.3% year-on-year due to strategic R&D investments and foreign exchange impacts.
- SEMI's revenue declined 6.5% quarter-on-quarter due to timing issues with key customers' AI technology roadmaps and shipment disruptions caused by a typhoon.
- The group faced an isolated bookings cancellation for panel deposition tools, affecting overall bookings for the quarter.
- ASMPT Ltd (ASMVF) anticipates challenges in automotive and industrial end markets, with low visibility for recovery in these sectors.
Good morning. Ladies and gentlemen, this is Ben Poh, the Head of Investor Relations at ASMPT. And today, I'll be moderating the call for the first time. On behalf of ASMPT Limited, welcome to our third quarter 2025 investor conference call. Thank you all for your interest and continued support.
(Operator Instructions) During the Q&A session priority will be given to the covering analyst.
Before we start, let me go through our disclaimer. Please note that there may be forward-looking statements about the company's business and finances during this call. Such forward-looking statements could involve known and unknown uncertainties and risks that could cause actual results, performance and events to differ materially from those expressed or implied during this conference call.
On the call, unless stated otherwise, all references to gross profit or margin, operating profit, segment profit, and net profit are on adjusted basis as described in our MD&A. For your reference, the Investor Relations presentation on our recent
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