ASMPT(00522)2025-03-31 08:32Financial Performance - Total sales revenue for 2024 was HKD 13.23 billion (USD 1.69 billion), a decrease of 10.0% year-on-year[10]. - Operating profit for 2024 was HKD 558 million, down 49.4% year-on-year[10]. - Basic earnings per share for 2024 were HKD 0.83, a decrease of 52.0% year-on-year[10]. - Adjusted earnings for 2024 were HKD 4.26 billion, down 42.8% year-on-year[10]. - The group's consolidated profit after tax for the year was HKD 342 million (adjusted to HKD 426 million according to non-Hong Kong Financial Reporting Standards), a year-on-year decrease of 51.9%[37]. - The total annual revenue for the group decreased by 10.0% to HKD 13.23 billion (USD 1.69 billion), with adjusted profit down by 42.8% to HKD 426 million[30]. - The group's adjusted profit decreased by 42.8% year-on-year to HKD 4.26 billion (0.79 billion), with an order-to-delivery ratio of 0.96[55]. - Total new orders for the group reached HKD 12.75 billion (340 million to the group's total sales revenue in 2024, despite a weak market[52]. Segment Performance - The semiconductor solutions segment recorded a year-on-year revenue growth of 24.1% in Q4 2024, driven by strong demand for advanced packaging solutions[30]. - The surface mount technology solutions segment experienced a year-on-year revenue decline of 21.3%, consistent with the overall weak market performance[30]. - The semiconductor solutions segment accounted for approximately 51% of total sales revenue in 2024, with a year-on-year growth of 6.9%[54]. - The surface mount technology solutions division recorded total new orders of HKD 1.11 billion (USD 142 million) in Q4 2024, down 15.8% quarter-over-quarter and 25.9% year-over-year, reflecting a weak global automotive and industrial end market[67]. Research and Development - The company plans to allocate a significant portion of new R&D resources to high-potential areas, including next-generation products like TCB and hybrid bonding[27]. - The group invested approximately HKD 2.08 billion in R&D in 2024, compared to HKD 2.05 billion in 2023, maintaining a strong commitment to technological leadership[71]. - The company is committed to ongoing cost optimization and improving overall profitability in the long term[31]. Dividends and Shareholder Returns - A special dividend of HKD 0.25 per share is proposed, with a total annual dividend of HKD 0.67 per share for 2024[30]. - The total dividend for the fiscal year 2024 is HKD 0.67 per share, down from HKD 1.39 per share in 2023[38]. - The board proposed a final dividend of HKD 0.07 per share and a special dividend of HKD 0.25 per share, compared to HKD 0.26 and HKD 0.52 per share respectively in 2023[38]. Sustainability and Governance - The company continues to focus on sustainability, achieving significant progress in environmental initiatives and aiming for a 25% female board representation by 2025[28]. - ASMPT is committed to achieving net-zero emissions by 2035, with interim targets of a 30% reduction by 2026 and 50% by 2030[82]. - The board aims to achieve a 25% representation of female directors by the end of 2025[83]. - The company emphasizes a positive corporate culture to support employee development and corporate citizenship[146]. Leadership and Management - Leadership transitions are underway, with key promotions aimed at enhancing R&D capabilities and aligning strategies with market demands[25]. - Dr. Hichem M'Saad appointed as CEO and Chairman of ASM International N.V. on May 13, 2024, previously served as CTO since May 16, 2022[111]. - ASM's executive team includes Mr. Guenter Walter Lauber, who has over 20 years of experience in the SMT equipment industry and has been with ASM since its acquisition of SMT business in 2011[113]. - The company emphasizes its leadership in advanced packaging technology and end-to-end solutions to meet stringent industry demands[114]. Corporate Governance - The board consists of ten directors, with two being female, and 60% of the board members are independent non-executive directors[148][152]. - The company has a strong governance structure with a diverse board, including members with backgrounds in law, finance, engineering, and technology[104][105][106][109][110]. - The board has complied with the listing rules requiring at least three independent non-executive directors, with two possessing relevant financial expertise[150]. - The company has adopted a board independence policy to ensure independent opinions are obtained[153]. Employee and Shareholder Engagement - The employee share incentive plan allows for the issuance of up to 40,667,133 new shares, representing 10% of the issued shares as of the approval date in 2019[119]. - The maximum number of shares that can be purchased under the plan for the fiscal year ending December 31, 2025, is 8,329,172 shares, which would result in a 2% dilution for shareholders if fully allocated[120]. - Major shareholders include ASM International N.V. and ASM Pacific Holding B.V., each holding 103,003,000 shares, accounting for 24.73% of the company's equity[127].