ASM International new orders fall 4% in Q2 amid mixed market conditions
Investing.com -- ASM International reported a 4% year-on-year decline in new orders in the second quarter of 2025, as mixed market conditions weighed on demand across segments.
New orders fell to €702.5 million at constant currencies, down 10% from the first quarter, largely due to lower advanced logic/foundry bookings.
The company added that the “y-o-y decrease was mainly due to the lumpy nature of quarterly order intake and compared to a relatively high memory contribution in Q2 2024.”
“The market environment continued to show a mixed picture in the second quarter,” said ASM CEO Hichem M’Saad.
While AI-related demand supported growth in leading-edge logic/foundry and HBM-related DRAM, other segments remained sluggish.
Despite the drop in bookings, revenue rose 23% year-on-year at constant currencies to €835.6 million, outperforming ASM’s prior guidance.
Foundry led sales, followed by memory and logic, with China also contributing more than expected.
Gross margin came in at 51.8%, down from Q1’s 53.4%, but above the 49.8% margin recorded a year earlier.
Operating profit rose to €258.5 million, with adjusted net earnings reaching €173 million. The company also booked a €34 million reversal of a prior impairment on its stake in ASMPT, as market valuations improved.
Looking ahead, ASM expects third-quarter revenue to be flat or slightly lower than Q2, with a book-to-bill ratio projected below one.
Full-year revenue growth is forecast to land around the midpoint of the 10% to 20% guidance range, with strong sales in the 2nm GAA logic/foundry node expected to remain a key driver.
China’s equipment sales are now projected to hit the upper end of the previously forecast range, though bookings there are expected to decline in the second half.
