Half Year 2026 ASMPT Ltd Earnings Call Transcript
Key Points
- ASMPT Ltd (ASMVF) achieved strong revenue and bookings in the first half of 2026, driven by AI advancements and recovery in traditional midstream business.
- The company's SMT segment achieved record bookings, largely due to strong demand from AI services and China's EV segment.
- Semi AP bookings doubled year-on-year, highlighting ASMPT's multiple AP solutions as key enablers for AI infrastructure.
- The group reported a significant increase in revenue and adjusted EPS, exceeding consensus in Q2 2026.
- ASMPT's photonics solutions saw customers ramping up production of high-speed optical transceivers, with revenue almost tripling year-on-year.
- The transition to CPO solutions in photonics is still in its early stages, with significant growth expected only by 2028.
- Longer lead times for certain materials are affecting both SMT and semi operations, extending the order-to-billing conversion time.
- The company's growth in China is primarily driven by traditional mainstream business, with advanced packaging still lagging behind the rest of the world.
- The timing of memory TCB shipments remains uncertain, with some orders delayed due to customer product rollout schedules.
- ASMPT faces competition in hybrid bonding, with the inflection point for this technology expected only around 2029-2030.
Good morning, ladies and gentlemen. I am Ben Poh, Head of Investor Relations, and today, I will be moderating the call. On behalf of ASMPT Limited, welcome to our second quarter and first half of 2026 Investor Conference Call. Thank you all for your interest and continued support. (Event Instructions)
Before we start, let me go through our disclaimer. Please note that there may be forward-looking statements about the company business and financials 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. For your reference, the Investor Relations presentation on our recent results is available on our website.
On today's call, we have the Group Chief Executive Officer, Mr. Robin Ng; and the Group Chief Financial Officer, Ms. Katie Xu. Robin will cover the group's key highlights for the second quarter and the first half of 2026 and provide outlook and guidance for
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