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ASMPT (0522) investor relations material
ASMPT Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Q3 2025 revenue reached $468.0 million, up 7.6% quarter-on-quarter and 9.5% year-on-year, driven by strong SMT performance and AI-related demand in both Advanced Packaging (AP) and mainstream businesses.
Technology leadership in Thermo-Compression Bonding (TCB) for HBM4 and advanced logic, with recurring orders from major memory and logic customers.
SMT segment recovery exceeded expectations, contributing to a profitable quarter on an adjusted basis, excluding restructuring and inventory write-off costs from AEC liquidation.
Reported net loss of HK$268.6 million due to restructuring and inventory write-offs, but adjusted net profit was HK$101.9 million, up 245.2% year-on-year.
AI adoption, EVs in China, and data center demand were key growth drivers, while Automotive and Industrial recovery remained subdued.
Financial highlights
Q3 2025 revenue was $468.0 million, up 7.6% quarter-on-quarter and 9.5% year-on-year; bookings were $462.5 million, down 3.5% quarter-on-quarter but up 14.2% year-on-year; backlog stood at $867.7 million.
Adjusted gross margin was 37.7%, down 203bps quarter-on-quarter and 330bps year-on-year; year-to-date margin remained around 40%.
Adjusted operating profit was HK$124.4 million, down 26.6% quarter-on-quarter and 30.3% year-on-year; adjusted net profit was HK$101.9 million, down 24.4% quarter-on-quarter but up 245.2% year-on-year; adjusted EPS was HK$0.24.
Book-to-bill ratio was 1.04 for the group.
Adjusted net profit margin was 2.8%, down 118bps quarter-on-quarter but up 190bps year-on-year.
Outlook and guidance
Q4 2025 revenue guidance is $470–530 million, up 6.8% quarter-on-quarter and 14.3% year-on-year at midpoint, above market consensus.
Growth expected from both SEMI and SMT segments, with TCB total addressable market projected to exceed $1 billion by 2027, driven by AI ecosystem investments.
Bookings in Q4 expected to be flattish quarter-on-quarter but mark the seventh consecutive quarter of year-on-year growth.
SEMI bookings expected to increase quarter-on-quarter, mainly due to TCB; SMT bookings to decline due to high base effect.
Visibility for Automotive and Industrial end-market recovery remains low.
HBM4 TCB market share and fluxless adoption?
Operating leverage and margin trajectory?
Hybrid bonding competitive strategy?
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Frequently asked questions
ASMPT Limited, previously known as ASM Pacific Technology, is a global provider of hardware and software solutions for the semiconductor and electronics manufacturing industries. Established in 1975, ASMPT operates through two primary business segments: Semiconductor Solutions and Surface Mount Technology (SMT) Solutions. The Semiconductor Solutions segment offers a broad portfolio of equipment for semiconductor assembly and packaging, covering processes from film deposition to bonding, molding, and integration of machines into complete inline systems for various markets including microelectronics, photonics, and optoelectronics. The SMT Solutions segment includes top-tier hardware and software such as SIPLACE placement machines, DEK printing solutions, and advanced manufacturing execution systems (MES), contributing to the development of integrated smart factories. ASMPT is headquartered in Singapore, and its shares are listed on the Hong Kong Stock Exchange.
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