ASM reports third quarter 2025 results

Financial Performance - ASM International reported Q3 2025 revenue of €800 million, an increase of 8% year-on-year at constant currencies, and approximately flat compared to Q2 2025 [2][3] - New orders totaled €637 million in Q3 2025, reflecting a 17% decrease year-on-year at constant currencies and a 7% sequential decline compared to Q2 2025 [2][5] - Gross profit margin improved to 51.9% in Q3 2025 from 49.4% in Q3 2024, supported by a favorable sales mix, particularly from China [2][4] Market Dynamics - The decline in new orders was primarily driven by a significant drop in bookings from the Chinese market, influenced by recent export restrictions [5][7] - Advanced logic/foundry orders showed strong sequential growth, although below prior expectations, while demand in power/analog/wafer markets remained weak [6][7] - The company anticipates a recovery in order trends in 2026, driven by investments in advanced logic/foundry and DRAM segments [7][9] Strategic Outlook - ASM aims for revenue growth of close to 10% at constant currencies for the full year 2025, with Q4 2025 revenue projected between €630 million and €660 million [9] - The company has set a long-term revenue target of more than €5.7 billion by 2030, indicating a compound annual growth rate (CAGR) of at least 12% [8][11] - Continued investment in R&D is planned, with a 10% increase in R&D spending, while SG&A expenses are expected to decrease [4][15] Shareholder Returns - ASM completed a €150 million share buyback program in Q3 2025, repurchasing 322,533 shares at an average price of €465.07 [10]