ASMPT Announces 2025 First Quarter Results

Group Performance at a Glance

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Q1 2025 Highlights

• Met Mid-point of Q1 Revenue Guidance
• Bookings Better than Expected
• Gross Margin Rebounded to 40.9%
• HBM TCB in High Volume Manufacturing
• Expanded TCB Customer Base

Results Summary

• Revenue of HK$3.12 billion (US$401.5 million), -0.5% YoY and -8.2% QoQ
• Bookings of HK$3.35 billion (US$431.2 million), +4.8% YoY and +2.9% QoQ
• Gross margin of 40.9%, -97 bps YoY and +371 bps QoQ
• Operating profit of HK$159.9 million, -33.3% YoY and +3,044.6% QoQ
• Net profit of HK$82.6 million, -53.5% YoY and +1,853.5% QoQ
• Adjusted Net profit of HK$83.2 million, -53.1% YoY and +1.6% QoQ
• Basic earnings per share of HK$0.20, -53.5% YoY and +1,900.0% QoQ
• Adjusted Basic earnings per share of HK$0.20, -53.5% YoY and flat QoQ

Revenue Guidance Q2 2025
US$410 million to US$470 million, +3.0% YoY and +9.6% QoQ at mid-point

Results Announcement and Investor Presentation available from
https://www.asmpt.com/en/investor-relations/financial-information/

For more information about the Adjusted Net profit and Adjusted Basic earnings per share presented above,
please refer to the section under “Reconciliation of HKFRS Measures to the non-HKFRS Measures” of the Group’s Q1 2025 results announcement.

(Hong Kong, 30 April 2025) — ASMPT Limited (ASMPT / the Group / the Company) (Stock code: 0522), a leading global provider of hardware and software solutions for the manufacture of semiconductors and electronics, announced its first quarter results for the three months ended 31 March 2025.

“We grew our Advanced Packaging solutions, driven by the rapid adoption of AI,” said Mr. Robin Ng, Group CEO. “The Group delivered a solid performance and improved gross margin above 40% in Q1 2025. We expanded our Thermo-Compression Bonding customer base, won new orders and our tools are being used in production for both logic and memory applications. This further solidifies our leadership in the TCB market. Looking ahead, we remain confident in the demand for Advanced Packaging and our TCB solutions for AI and High-Performance Computing applications.”

Group Q1 2025 Highlights
Advanced Packaging (AP) solutions continued to be a major beneficiary of AI adoption and delivered a strong performance, led by Thermo-Compression Bonding (TCB) tools. The Group has completed delivery of the bulk TCB order to the leading memory customer, and these solutions are mainly for HBM3E 12H high volume manufacturing. The Group also secured further TCB orders from multiple customers. For SMT, its System-in-Package (SiP) solutions saw seasonally strong orders this quarter. However, the Group’s mainstream businesses continued to be affected by soft demand from Automotive and Industrial end markets.

Group gross margin rebounded to above 40%, driven mainly by better product mix in both segments.

• Revenue of HK$3.12 billion (US$401.5 million) met the mid-point of revenue guidance, down 8.2% QoQ and flat YoY.
• Bookings of HK$3.35 billion (US$431.2 million) were better than expected, up 2.9% QoQ and 4.8% YoY.
  QoQ increase was mainly due to higher SMT bookings, partially offset by lower SEMI bookings from a high base effect in Q4 2024.
  YoY increase was driven by SEMI, which has shown YoY quarterly bookings growth over the past six quarters.
• Gross margin of 40.9% was up 371 bps QoQ and down 97 bps YoY. QoQ improvement was due to both SEMI and SMT.
• The Group’s operating expenses (Opex) declined 11.3% QoQ due to disciplined cost control measures and seasonality. Opex was up 4.1% YoY due to strategic infrastructure and R&D investments.
• Adjusted net profit was HK$83.2 million, up 1.6% QoQ but down 53.1% YoY. YoY decline was due to slight reduction in gross margin, Opex for strategic investments and foreign exchange effects.

OUTLOOK
The Group expects Q2 2025 revenue to be between US$410 million to US$470 million, +3.0% YoY and +9.6% QoQ at mid-point as it remains confident of sustaining AP revenue and expects its mainstream businesses to improve due to both seasonality and better-than-expected Q1 bookings.

Looking ahead, the mainstream growth trajectory is difficult to forecast given uncertainties from the indirect impact of tariffs. However, the Group remains confident in the demand for AP and its TCB solutions for AI and High-Performance Computing applications. In addition, its global manufacturing footprint provides flexibility to navigate the potential impact of the tariffs. The Group will continue to monitor the situation closely and adapt as needed.

About ASMPT Limited (“ASMPT”)
ASMPT Limited is a leading global supplier of hardware and software solutions for the manufacture of semiconductors and electronics. Headquartered in Singapore, ASMPT’s offerings encompass the semiconductor assembly & packaging, and SMT (surface mount technology) industries, ranging from wafer deposition to the various solutions that organise, assemble and package delicate electronic components into a vast range of end-user devices, which include electronics, mobile communications, computing, automotive, industrial and LED (displays). ASMPT partners with customers very closely, with continuous investment in R&D helping to provide cost-effective, industry-shaping solutions that achieve higher productivity, greater reliability, and enhanced quality. ASMPT is also a founding member of the Semiconductor Climate Consortium.

ASMPT is listed on the Stock Exchange of Hong Kong (HKEX stock code: 0522), and is one of the constituent stocks of the Hang Seng TECH Index, Hang Seng Composite MidCap Index under the Hang Seng Composite Size Indexes, the Hang Seng Composite Information Technology Industry Index under the Hang Seng Composite Industry Indexes, the Hang Seng Corporate Sustainability Benchmark Index, and the Hang Seng HK 35 Index. To learn more about ASMPT, please visit us at www.asmpt.com.

Forward-Looking Statements
All statements included herein, other than statements of historical facts, are or may be forward-looking statements. These forward-looking statements reflect ASMPT’s current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information. Such forward-looking statements are not guarantees of future performance or events and involve known or unknown risks and uncertainties. Accordingly, actual results may differ materially from information contained in the forward-looking statements as a result of a number of factors. Readers should not place undue reliance on such forward-looking statements, and ASMPT does not undertake any obligation to update publicly or revise any forward-looking statements. Save as otherwise referred to below, no statement herein is intended to be or may be construed as a profit forecast.

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For media enquiries:
Lim Ee Guan Director, Corporate Communications
Tel: +65 6450 1445
Email: eg.lim@asmpt.com

On behalf of ASMPT:
Strategic Financial Relations Limited
Mandy Go / Vivienne Leung
Tel: +852 2864 4812 / 2864 4862
Fax: +852 2527 1196
Email: mandy.go@sprg.com.hk/ vivienne.leung@sprg.com.hk