ASM projects 10-20 percent growth this year

Amid trade tensions, ASM expects 2025 sales to grow 10-20 percent at constant currencies. “While we have reasonable visibility that we’ll achieve the lower end of the range, achieving the higher end will require some upside opportunities to materialize, which at this point is still uncertain,” says ASM CEO Hichem M’Saad.

ASM previously projected sales of 3.2-3.6 billion euros, up to 24 percent higher than 2024’s 2.9 billion euros. Depreciation of the dollar, in which over 80 percent of sales are handled, is impacting the bottom line of the Almere-headquartered firm, prompting it to change to provide relative growth rates at constant currencies.

Q1 sales came in at 839 million euros, up 26 percent YoY at constant currencies, and Q1 bookings at 834 million euros, up 14 percent YoY. Sales and bookings are primarily driven by AI-related purchases, ie the transition to gate-all around (GAA) technology in leading-edge logic and continued demand for high-bandwidth memory (HBM). Most other market segments remained sluggish, ASM says.

Echoing comments from other semiconductor firms, ASM warns that it’s too soon to quantify the impact of trade tensions and tariffs on global GDP and the semiconductor market. So far, customers haven’t signaled material changes.