ASM International N.V : Between a glass half empty and a glass half full, we choose the positive option
>Q2 2023 results better than expected, thanks to the gross margin, despite slightly lower sales - Q2 2023 sales came to € 669m (+21% y-o-y, -5% q-o-q), 1% below the consensus at € 677m, but well within the guidance range of € 650-690m. The gross margin came to 49%, once again above the consensus at 47.8%, due to the mix which included higher sales in China. SG&A and R&D outlays were relatively contained sequentially (up +5% and +3%, respectively). As a result, operat...ASM International is an equipment supplier mainly to the semiconductor manufacturing industry. Co. designs, manufactures and sells equipment and services to its customers for the production of semiconductor devices, or integrated circuits. Co.'s front-end segment manufactures and sells equipment used in wafer processing, encompassing the fabrication steps in which silicon wafers are layered with semiconductor devices. Co.'s back-end segment manufactures and sells equipment and materials used in assembly and packaging, encompassing the processes in which silicon wafers are separated into individual circuits and subsequently assembled, packaged and tested.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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