Chipmaker ASM's orders slump as market weakens (updated)

Locality Planning Energy Holdings

25/04/2023 18:01

(Adds details on Q1, CEO comments, outlook)
    By Dina Kartit
       April 25 (Reuters) - Dutch semiconductor equipment maker
ASM International  ASMI.AS  on Tuesday reported a drop in
first-quarter orders, citing softening market conditions,
despite revenue beating estimate.
    The Amsterdam-listed company registered orders totalling
647.4 million euros ($710.20 million), down 20% at constant
currencies from the previous quarter and well below the 705.7
million euros in the same period last year.
    "Demand in the memory market further weakened in Q1 and is
expected to remain at low levels in the remainder of the year,"
said Chief Executive Officer Benjamin Loh in a statement.
    Logic and foundry demand for advanced nodes has also seen a
number of "push-outs reflecting softer end-market conditions and
some delays in new customer fab readiness," added Loh. 
    The group expects these "push-outs" to impact order
estimates in the second and third quarters of the year.
    It sees second quarter revenue ranging from 650 million to
690 million euros and a decrease in sales for the second half of
the year of 10% or more compared to the first half.
    But, for 2023 overall, ASMI forecast a single-digit increase
in revenues, at constant currencies and including the
acquisition of Italy-based LPE in July.
    ASMI's first-quarter revenue came in at 710 million euros,
above guidance of 660-700 million euros announced in February,
beating analysts' consensus estimate of 688.54 million euros,
according to Refinitiv.
    ($1 = 0.9116 euros)

 (Reporting by Dina Kartit
Editing by David Goodman and Mark Potter)
 ((dina.kartit@thomsonreuters.com))