Following the close of the sale on
The pro-forma figures show ASMI numbers whereby ASMPT is deconsolidated.
|Q3 2013||Q4 2013||Pro-forma 2012||Pro-forma 2013|
|Gross profit margin %||37.1%||39.1%||39.3%||33.6%||39.0%|
|Result from investments (excl. amortization and fair value purchase price allocation)||(3.0)||10.8||1.5||35.5||20.9|
|Remeasurement gain, realized gain on sale of ASMPT shares, amortization and fair value adjustments||--||(17.2)||(369.8)||--||979.8|
|Normalized net earnings (excl. remeasurement gain realized gain on sale of ASMPT shares, amortization and fair value adjustments)||(21.7)||16.3||9.3||7.1||45.5|
• Result from operations for the fourth quarter 2013 includes restructuring costs of €0.5 million compared to €1.0 million included in the third quarter, while the result from investments included €4.0 million restructuring charges related to our 40% share in ASMPT.
Commenting on the results,
"Q4 was again a very strong quarter for ASMI. Order intake was 19% higher than in the previous quarter, while sales increased with 9%. Both came in on the high side of our guidance for the quarter. ALD and PEALD were again the main drivers for the order intake and for sales. In our market which declined from 2012 to 2013, ASMI showed a sales increase of 22%. 2013 also showed a strong gross margin improvement. For the last three quarters, our gross margins were back in the 39% range, leading to double digit EBIT margins. The 2013 free cash flow was over €40 million."
For Q1 2014 we expect a double digit sales increase compared to Q4 2013, on a currency comparable base. For Q2 2014 we also expect a double digit sales increase compared to Q4 2013, on a currency comparable basis. For the second half of 2014, the current visibility is limited. Q1 2014 order intake is expected to show a double digit increase as compared to Q4 2013, on a currency comparable base.
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: All matters discussed in this statement, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, corporate transactions, financing and liquidity matters, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholder and other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, epidemics and other risks indicated in the Company's filings from time to time with the
The teleconference dial-in numbers are as follows:
A simultaneous audio web cast will be accessible at www.asm.com.
T: +31 88 100 8500
T: +1 212 986 2900
T: +31 625 018 512
Press Release Fourth Quarter 2013 Results http://hugin.info/132090/R/1764958/598739.pdf