ASM International: Record Revenue of €3.2 Billion in 2025
Dutch semiconductor processing equipment manufacturer ASM International recorded a 12% growth in constant currency sales in 2025, marking its ninth consecutive year of double-digit growth. The annual revenue reached a record €3.2 billion, driven by strong demand for advanced processing capabilities for artificial intelligence.
Record Sales Achieved
ASM generated sales of €3.2 billion in 2025, an unprecedented level for the group. The 12% growth in constant currency reflects an acceleration of client investments in 2nm node capacities, particularly in the advanced logic and foundry segments. The memory segment saw an expected decline, accounting for 16% of equipment sales, while sales in China remained substantial with over 30% of total revenue despite an annual decrease. The fourth quarter posted revenue of €698 million, down 7% year-on-year in constant currency but above the provided guidance of €630 to €660 million.
Strong Profit Margins
The gross margin stood at 51.8%, supported by a favorable product mix and the progressive effects of efficiency improvement programs. The adjusted operating margin reached a record 30.2%, combining revenue performance and strict cost discipline. The Spare Parts and Services business showed an 18% growth in constant currency, supported by the expansion of outcome-based service offerings. The group also authorized a €150 million share buyback program for the 2026-2027 period and proposed a dividend of €3.25 per share for 2025, up from €3.00 per share in 2024.
Future Revenue Projections
ASM projects revenue of €830 million for the first quarter of 2026 with a range of plus or minus 4%, and anticipates an increase in the second quarter compared to the first. The group expects higher revenue in the second half of the year than in the first half. Advanced logic and foundries will remain the main drivers, while sales in China are expected to increase in 2026 after a previous decline. In December 2025, ASM acquired Axus Technology, a provider of chemical-mechanical polishing equipment for compound semiconductors and More-than-Moore technologies. The group also announced plans to invest in a new facility in Almere, Netherlands, which will serve as the global headquarters and include a research and development center, a training center, and product development operations, with an investment of several hundred million euros over the coming years.
