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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