Q2 2024 ASM International NV Earnings Call Transcript

Jul 24, 2024 / 01:00PM GMT

Transcript

Key Points

Positve

Revenue for Q2 2024 came in at EUR706 million, up 6% year-on-year and slightly above the top end of guidance.
Equipment revenue increased 4% year-on-year, driven by robust ALD shipments.
Spares and service revenue grew by 20% year-over-year.
Gross margin improved to 49.8%, up from 49% in the same quarter last year.
Order intake for Q2 was strong at EUR755 million, a 56% increase year-on-year.

Negative

Operating margin decreased to 25.8%, down from 26.9% in the same quarter last year.
SG&A expenses increased by 19% year-on-year and 20% quarter-on-quarter.
Net R&D expenses rose by 11% year-on-year, with expectations for further increases in the second half.
Cash reserves decreased to EUR637 million from EUR712 million at the end of Q1.
Sales in the power/analog/wafer segment remain meaningfully lower than the average trend last year.

Operator

Good afternoon. This is the Chorus Call conference operator. Welcome and thank you for joining the ASM Second Quarter 2024 earnings call. (Operator Instructions) I would like to turn the conference over to Mr. Victor Bareno, Head of Investor Relations. Please go ahead, sir.

Victor Bareno

ASM International NV - Investor Relations

Thank you, operator. Good afternoon and welcome, everyone to our Q2 earnings call. I'm joined here today by our CEO Hichem MâSaad and CFO Paul Verhagen. ASM issued its second quarter 2024 results yesterday at 6:00PM Central European time.

For those of you who have not yet seen the press release, it is accessible on our website, along with our latest investor presentation. As always, we remind you that this conference call may contain information relating to ASM's future business and results in addition to historical information.

For more information on risk factors related to such forward-looking statements, please refer to our company's press releases and financial reports, which are available on our website.

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