Half Year 2024 ASMPT Ltd Earnings Call Transcript
Key Points
- Strong demand for advanced packaging (AP) solutions, with AP bookings showing significant year-on-year and half-on-half growth.
- Increased contribution of AP solutions to group revenue, rising from 22% last year to 35% in the first half of 2024.
- SEMI segment showed growth in bookings both half-on-half and year-on-year, with a book-to-bill ratio above one.
- Group gross margin improved year-on-year and half-on-half, driven by favorable product mix in SEMI.
- Healthy balance sheet with cash and bank deposits at HKD5.44 billion and bank borrowings at HKD2.53 billion.
- Revenue for the first half of 2024 declined 17.1% year-on-year and 5.8% half-on-half due to declines in both SEMI and SMT segments.
- Operating margin decreased by 512 basis points year-on-year, mainly due to lower sales.
- Adjusted net profit fell by 49.5% year-on-year.
- SMT bookings declined 15.6% quarter-on-quarter, reflecting market softness, particularly in automotive and industrial end markets.
- Revenue guidance for the third quarter indicates a decline of 9.9% year-on-year and 6.4% quarter-on-quarter, mainly due to lower revenue from SMT.
Good morning and good evening to all attendees. My name is Romil, and from the Investor Relations side, I will be the moderator for today's call. On behalf of ASMPT Limited, let me welcome all of you to the group's investor conference call for the second quarter and first half of 2024. We would like to sincerely thank you all for your continued support and interest in the company.
(Operator Instructions) Please do note that during this conference call there may be forward-looking statements with respect to the company's business and financial conditions. Such forward-looking statements could involve known and unknown uncertainties and risks that could cause actual results, performance, and events to differ materially from those expressed or implied during this conference call.
For your reference, the investor relations presentation for our recent results is available on our website. On today's call, we have our Group Chief Executive Officer, Robin; and the Group Chief Financial Officer, Katie. Robin will cover the group's key highlights, outlook, and
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