Better-than-expected 4Q2021 EPS
ASMPT delivered revenue of HK$6.20bn (US$796mn) in 4Q2021, increased 43.9% YoY, but
dropped 1% QoQ. This exceeded the top end of revenue guidance US$720-770mn issued in
the previous quarter’s results announcement and higher than consensus estimates.
Bookings of HKD5.25bn (US$674 million), was an increase of 25.0% YoY, but a sequential
decline of 8.2%. This dip was largely due to a high base effect and general seasonality trends.
Of note, this quarter’s bookings remain elevated compared with prior years’ Q4 levels. The
GPM was 41.3%, represented an improvement of 588 bps YoY and 76 bps QoQ, with YoY
improvement due largely to relatively stronger gross margin performance across both SEMI
and SMT segments. Net Profit attributable to shareholders was HK$913 million, down 8.7%
YoY and 9.0% QoQ. ASMPT’s EPS reached HK$2.22, down 8.7% YoY and 8.8% QoQ, but still
above consensus estimates.