However,
Asm international: air hole orders:
The Dutch manufacturer of advanced equipment for semiconductors has published rather solid results in the second quarter with a turnover. Consequently, a margin superior to expectations. Moreover, But the markets are turned to the future and in this regard, the orders have disappointed. Moreover, The title wins more than 10 % this Wednesday in Amsterdam. Furthermore,
In the past quarter, ASM International recorded a turnover of 836 million euros, up 23 % over one year at constant rate. Therefore, The gross margin reaches 51.8 %, above consensus expectations. The activity remains well oriented in China, and the sales of advanced equipment continue to get growth. This good bulletin masks unwelcome weakness.
Orders have dropped to 702 million euros, 17 % less than analysts’ expectations. In question. a temporary weakness of commands in the segments of the Advanced Logic, that is asm international: air hole orders to say the latest generation logic chips used in particular in cutting-edge processors. The slowdown is linked to the irregular timing of investments in these areas. where customers shift or spread their orders according to the progress of their industrial projects. Consequently. the Book-to-Bill ratio, which measures the ratio between the commands recorded and the sales made over the same period, falls to 0.8x.
ASM’s management maintains its discourse on growth potential. The technological transition to the architecture “Gate All Around” (GAA). a new transistor design where the grid fully surrounds the channel to better control the current and reduce energy losses, and the development of HBM memories (High Bandwidth Memory), modules of ultra-rapid memory stacued in 3D and designed to meet the huge bandwidth. of AI, are always considered major medium -term relays.
After a year 2024 carried by the AI, the asm international: air hole orders title had reached summits of valuation. He was still dealing over 30x Ebitda in the middle of last year. But with a title now down 20 % since January, valuation falls to 20x the EBITDA 2026 estimated, in the historical average. The prudence of customers like Intel. Samsung, trade tensions between the United States and the rest of the world, and the weakness of the HBM memory segment, weigh on visibility. ASM provides for the third quarter stable income slightly, before a possible rebound at the end of the year.
Asm international: air hole orders
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