ASM International N.V : Excellent visibility on H1 2019, unlike the rest of the sector
>Excellent top line and orders in Q4 2018 - Q4 2018 revenue came in at € 254m, +30% q-o-q and 40% y-o-y vs a consensus of € 234.1m and guidance of € 220-250m. The gross margin amounted to 41.6% vs a consensus of 42.1%. EBIT came to € 46.2m, in line with the consensus of € 46.1m, i.e. an operating margin of 18.2% (consensus of 18.9%). Adjusted net profit increased by € 4m compared to the previous quarter to € 46.1m vs a consensus of € 54.1m. The gap relates to the lowe...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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