ASM International (ASM NA) Q4 (EUR): Revenue 698mln (exp. 654.2mln, prev. guided 630-660mln), Orders 800mln (Q3 indicated 637mln); above consensus orders due to rebound from China

• "The stronger-than-expected bookings were driven by a rebound in orders from China toward the end of the quarter as well as solid bookings in the advanced logic/foundry segment".
• "The upside [in revenue] primarily reflects robust sales in the advanced logic/foundry segment, and strong spares & services sales".

• Supported by the improved bookings trend in Q4, ASM expects Q1 2026 revenue at constant currencies to show a healthy increase compared to Q4 2025.

ASM International's Q4 results beat consensus estimates significantly, driven by stronger-than-expected orders from China and robust performance in the advanced logic/foundry segment. This not only reflects solid demand recovery but also sets a positive tone for Q1 2026, suggesting sustained growth in revenues. Given the semiconductor sector's sensitivity to global supply chains, this performance could improve sentiment towards other companies in the space as well.