ASM SMT Solutions Press

 
ASMPT Announces 2018 Third Quarter Results
New Records for the First Nine Months
 
The world’s No.1 semiconductor assembly and packaging equipment supplier ASM Pacific Technology Limited ("ASMPT" / the "Group") today announced its results for the third quarter and the nine months ended 30 September 2018. The Group continued to deliver solid performance, driven largely by the SMT Solutions and the Back-end Equipment Segments. All three segments achieved new records in the period and the Group is on track to set new booking and billing records for the full year of 2018.
ASMPT reported a revenue of HK$5.17 billion in the three months ended 30 September 2018, representing an increase of 1.1% as compared with HK$5.11 billion for the same period last year. The Group’s consolidated profit after taxation for the three months was HK$602.1 million, which was 30.2% lower than the corresponding period in 2017.
Group booking in the third quarter was better than anticipated, led by the SMT Solutions Segment which achieved yet another new record, topping the record set in the previous quarter. The Back-end Equipment Segment also saw higher than expected booking and achieved a year-on-year growth of 5.8%. The continued success of the Group in winning market share is well reflected in the strong bookings of these two segments. The book to bill ratio for the third quarter was 0.94.  The backlog as of the end of the third quarter amounted to US$769.8 million, an increase of 33.1% from the same period last year.
 
Mr. Lee Wai Kwong, Chief Executive Officer of ASMPT, said, "We are very pleased to announce our third quarter results in 2018, led by the SMT Solutions and the Back-end Equipment Segments. With the strong performance in the past three quarters, all three segments are anticipated to set new records this year. The trade friction between the USA and China had insignificant direct impact on the Group’s third quarter results. A simulation result based on shipments made in the first half of this year shows less than 0.5% of the Group’s billing would have been impacted directly. Nevertheless, we feel that customers have become more cautious and the trade dispute is casting uncertainties in the market. The Group is closely monitoring the situation and continuously assessing any potential impact. For the mid to longer term, the Group remains confident and optimistic of the prospects of the semiconductor industry."
 
The Back-end Equipment Segment continued to do well in the third quarter with a billing of US$302.6 million, representing a growth of 5.4% compared with the same period last year. Billing of the Segment in this quarter is a new record for the third quarter of any year. Billing of the Segment for the first nine months of the year attained a new record of US$947.9 million, representing a growth of 11.4% as compared with the same period last year. For the Back-end Equipment Segment, strong growth has been experienced in the IC/Discrete market. Booking in the third quarter showed a strong year-on-year growth of 24%. Booking of IC/Discrete market for the nine months period already exceeded the booking for the full year of 2017.
 
In the third quarter, billing of the Materials Segment achieved a new record of US$76.9 million, representing growths of 4.1% over the same period last year and 1.0% against the second quarter this year. Billing of the nine months period was also a new record at US$227.9 million, representing a growth of 9.2% against the same period a year ago.
 
The SMT Solutions Segment continued its excellent performance in the third quarter, achieving yet another new quarterly booking record, exceeded US$300 million. Billing of the Segment in the third quarter amounted to US$278.8 million, representing a growth of 19.8% compared with the second quarter. For the first nine months period, billing of the SMT Solutions Segment achieved a new record of US$709.8 million, representing a growth of 11.6% over the same period last year.
 
New booking for the Segment grew 17.1% year-on-year and 1.6% quarter-on-quarter during the third quarter respectively to US$300.8 million, setting a new quarterly record. New order booking for the nine months period was a new record at US$ 870.8 million, representing a growth of 22.3% as compared with the same period last year.
 
Mr. Lee in summarizing the third quarter report noted, "All three segments have achieved outstanding results so far this year and are expected to set new billing records for the full year, while the Group is on track to set new booking and billing records. The SMT Solutions Segment has led the Group’s performance with its third quarter record and is expected to achieve both quarter-on-quarter and year-on-year growth in its fourth quarter billing."
 
"With the investments that the Group has been making over the past few years, and its breadth and depth in enabling technologies and financial strength, the Group is confident that it will continue to set even more new records going forward. Its investments and strategies over the past few years have been successfully executed and ASMPT has now entered into a new high growth period."
 
 
 
Highlights
 
First Nine Months of 2018
  • Record Group revenue of US$1.89 billion, representing an increase of 11.2% over the same period last year
  • Net profit of HK$2.00 billion, representing a decrease of 14.7% over the same period last year. Excluded the non-cash gain of HK$202.1 million in 2017, the Group’s net profit represents a decrease of 6.6%
  • Earnings per share of HK$4.95 for the first nine months of 2018
  • Record Back-end equipment revenue of US$947.9 million, representing an increase of 11.4% over the same period last year
  • Record SMT Solutions revenue of US$709.8 million, representing an increase of 11.6% over the same period last year
  • Record Materials revenue of US$227.9 million, representing an increase of 9.2% over the same period last year
  • Record new order bookings of US$2.10 billion, representing an increase of 13.9% over the same period last year
  • Backlog amounted to US$769.8 million as of the end of the third quarter, an increase of 33.1% from the same period last year
Third Quarter of 2018
  • Group revenue of US$658.3 million, representing an increase of 1.1% over the same period last year but a contraction of 2.0% against the previous quarter
  • Net profit of HK$602.1 million, representing decreases of 30.2% and 23.0% over the same period last year and the preceding quarter, respectively
  • Earnings per share of HK$1.49 for the third quarter 2018
  • Back-end equipment revenue of US$302.6 million, representing an increase of 5.4% over the same period last year but a contraction of 16.6% against the preceding quarter
  • SMT Solutions revenue of US$278.8 million, representing a slight contraction of 3.9% over the same period last year but an increase of 19.8% from the preceding quarter
 
 
 
Mr. Lee Wai Kwong, Chief Executive Officer of ASMPT, said, "We are very pleased to announce our third quarter results in 2018, led by the SMT Solutions and the Back-end Equipment Segments.
 
 

 
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