ASMPT (0522) Q2 2026 earnings summary

Executive summary

• Achieved strong revenue and bookings growth in H1 2026, driven by AI, photonics, and recovery in mainstream business, with record SMT bookings and doubled SEMI AP bookings year-over-year.

• Revenue and adjusted EPS exceeded consensus, with significant contributions from advanced packaging and photonics applications.

• CEO Robin Ng announced retirement, with Bassel Haddad to succeed him.

Financial highlights

• H1 2026 revenue: US$1.14 billion (HK$8.90 billion), up 18.9% half-on-half and 42.5% year-on-year; Q2 2026 revenue: US$630 million (HK$4.94 billion), up 24.4% QoQ and 52.1% YoY, exceeding guidance.

• H1 2026 bookings: US$1.63 billion (HK$12.75 billion), up 68.1% HoH and 85.1% YoY; Q2 bookings: HK$7.08 billion, up 24.8% QoQ and 97.6% YoY.

• Adjusted gross margin for H1 2026: 41.2%, up 441bps HoH and 86bps YoY; Q2 2026 adjusted gross margin: 42.5%.

• Adjusted net profit for H1 2026: HK$972.7 million, up 263.8% HoH and 230.5% YoY; adjusted basic EPS: HK$2.34, up 260.0% HoH and 234.3% YoY.

• Interim dividend of HK$0.97 per share declared, with a 50% payout ratio.

Outlook and guidance

• Q3 2026 revenue guidance: US$630–690 million, midpoint up 4.8% QoQ and 46.3% YoY.

• Bookings expected to grow by high single-digit percentage sequentially, mainly driven by TCB and photonics.

• Gross margin expected to remain stable above 40% for the group.

• AI proliferation expected to sustain structural demand for advanced packaging and computing solutions.

• CapEx and R&D spending momentum expected to continue through 2026.