ASM International (ASMI.AS), a leading global maker of semiconductor equipment, has reported preliminary bookings for the fourth quarter of 2025 that surpassed market expectations. This positive performance was driven by a rebound in orders from China, as well as strong demand in the advanced logic/foundry segment.
The Dutch company announced a quarterly order intake of approximately 800 million euros ($930 million), exceeding analysts’ expectations of 669 million euros, according to a poll conducted by Visible Alpha. Additionally, ASM raised its guidance for the first quarter of 2026, now anticipating a “healthy” revenue increase on a constant currency basis compared to the previous quarter, which had been expected to show a slower start to the year.
Analyst Response
Marc Hesselink, an analyst at ING, commented that ASM’s updated outlook is “highly supportive for sustained growth throughout full-year 2026,” adding to positive sentiment surrounding the company’s prospects.
ASM also revealed preliminary revenue of 698 million euros for the quarter, beating the consensus forecast of 656 million euros from an LSEG poll.
Impact of China’s Rebound
The strong performance was notably fueled by a recovery in orders from China, which had been a source of concern in previous quarters. In ASM’s third-quarter results from October, the company had been impacted by a larger-than-expected decline in Chinese demand, the world’s largest buyer of chipmaking equipment. The recent rebound suggests that “China’s capacity digestion may be less severe than previously feared,” according to Hesselink.
Outlook and Expectations
ASM International will report its full-year and fourth-quarter results on March 3, 2026. With stronger-than-expected bookings and a positive outlook for the first quarter of 2026, the company remains optimistic about its continued growth in the global semiconductor market.
FAQ
1. What drove ASM International’s strong performance in Q4 2025?
ASM’s fourth-quarter performance exceeded expectations, mainly due to a rebound in orders from China and solid bookings in the advanced logic/foundry segment.
2. What is the company’s outlook for the first quarter of 2026?
ASM has raised its guidance for the first quarter of 2026, expecting a “healthy” revenue increase on a constant currency basis, a significant improvement compared to the slow start initially anticipated.
3. How did the orders from China affect ASM’s results?
Orders from China, which had previously been weak, showed a strong recovery towards the end of Q4 2025. This rebound contributed significantly to the better-than-expected quarterly bookings.
4. How does this performance compare to previous results?
ASM’s third-quarter results in 2025 had been negatively impacted by a larger-than-expected decline in orders from China. The strong recovery in Q4 indicates that the situation in China may not be as severe as initially feared.
5. When will ASM report its full-year and Q4 results?
ASM will report its full-year and fourth-quarter results on March 3, 2026.
