ASM International N.V. released its audited 2025 annual report on March 12, 2026, detailing a year of record performance. The company posted total revenue of €1.07 billion, up 12% at constant currency from €950 million in 2024, driven by robust demand in the advanced logic/foundry segment, particularly the 2 nm gate‑all‑around (GAA) node.
Net income rose to €324 million, a 15% increase from €280 million in 2024, while earnings per share reached €3.45, beating the consensus estimate of €2.56 by €0.89 or 34.8%. The beat was largely attributable to a favorable product mix and disciplined cost management that preserved margins despite higher raw‑material costs.
Gross margin expanded to a record 51.8%, up 1.2 percentage points from 50.6% in 2024, supported by a higher mix of high‑margin ALD and epitaxy equipment and operational leverage from scale. Adjusted operating margin reached 30.2%, a new record, reflecting efficient capital deployment and cost controls across the front‑end and back‑end businesses.
Management highlighted that the growth was driven by strong demand from leading semiconductor customers, especially in the AI and high‑bandwidth memory markets. CEO Hichem M'Saad said, “2025 was another year of strong progress for ASM. Sales increased by 12% at constant currencies, marking our ninth consecutive year of double‑digit growth.” He added that the company’s investment in new facilities and the acquisition of Axus Technology would further strengthen its competitive position.
The company’s market reaction was positive, with analysts noting the earnings beat and margin expansion as evidence of effective execution in high‑growth segments. The strong results reinforced confidence in ASM’s ability to sustain double‑digit revenue growth and maintain record profitability while investing in future‑ready technologies.
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