The following is a summary of the ASMPT Limited (ASMVF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• In Q3 2024, ASMPT reported revenue of $428.5 million, flat quarter-on-quarter and down by 3.7% year-on-year.

• Group bookings increased by 7.1% year-on-year, mainly driven by SEMI, while SMT showed softness.

• The group's gross margin improved to 41.0%, an improvement of 683 basis points year-on-year.

• Operating margin improved to 5.3%, showing growth both quarter-on-quarter and year-on-year.

Business Progress:

• Strong booking growth observed in TCB solutions for both high bandwidth memory (HBM) and other applications, indicating robust demand.

• Significant orders and high volume shipments were reported for TCB tool to a leading OSAT customer.

• Newly introduced photonic and silicon photonic solutions continue to see robust demand, particularly from data center applications.

Opportunities:

• The ongoing demand for AI and high-performance computing continues to drive bookings, particularly in the Advanced Packaging (AP) segment.

• Opportunities in expanding market share for TCB tools in memory applications, especially with the increasing number of layers such as 12H and prospective 16H applications.

Risks:

• The uneven recovery of non-AI related semiconductor demand impacts the group's semi-mainstream and SMT businesses.

• Slower recovery than anticipated in SEMI's mainstream business along with ongoing market softness in SMT.

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