ASM International N.V : Q1 2023 results better than expected, but general market weakening at end of quarter hurts outlook for 2023
>Q1 2023 results much better than expected both for sales and the gross margin, which benefited from an exceptionally positive mix - Q1 2023 sales came in € 710m, 3.3% ahead of the consensus at € 687m and the guidance of € 660-700m. The gross margin came to 51%, well ahead of the consensus of 47.3%, reflecting an exceptional mix in ALD and a bigger contribution from China. Operating profit amounted to € 221m, or an operating margin of 31.2%, 26% better than the cons...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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