ASM International N.V. (NASDAQ: ASMI and Euronext Amsterdam: ASM) reports today its second quarter 2013 operating results (unaudited) in accordance with US GAAP.
Following the close of the sale on March 15, 2013 of a 12% share in ASMPT, the entity in which the Back-end segment is organized, our shareholding is reduced to 40.08%. As a consequence, as from March 15, 2013 the results of ASMPT are deconsolidated. From that date onwards the net result of ASMPT is reported on the line "result from investments". In the second quarter of 2013 a purchase price allocation took place resulting in the recognition of certain intangible assets. The amortization of these intangible assets is reported as from this quarter.

FINANCIAL HIGHLIGHTS

The pro-forma figures show ASMI numbers whereby ASMPT is deconsolidated.

EUR million
Pro-forma Q2 2012 Pro-forma Q1 2013 Q2 2013
New orders 85.5 105.9 128.4
Net sales 86.5 80.0 128.6
Gross profit margin % 33.0% 37.7% 39.3%
Operating results (1.9) 1.1 16.2
Result from investments (excl. amortization and fair value purchase price allocation) 16.5 (0.5) 9.2
Remeasurement gain, realized gain on sale of ASMPT shares, amortization and fair value adjustments - 1,407.6 (40.8)
Net earnings 17.7 1,410.1 (23.4)
Normalized net earnings (excl. remeasurement gain, realized gain on sale of ASMPT shares, amortization and fair value adjustments) 17.7 2.5 17.4

Net sales for the second quarter 2013 increased with 61% compared to the first quarter and increased with 49% year-on-year, mainly driven by higher (PE)ALD sales.

Result from operations for the second quarter 2013 includes restructuring costs of €0.7 million compared to €0.3 million included in the first quarter.
COMMENT

Commenting on the results, Chuck del Prado, President and Chief Executive Officer of ASM International said:

"Q2 was a very strong quarter for ASMI's Front-end activities. While Q2 showed a very strong double digit sales increase, the book to bill ratio remained at 1.0. This sales increase was driven by further strengthening in demand for our (PE)ALD solutions for the most advanced technology nodes across all industry segments. The Front-end gross margin showed a further improvement, driven by a strong mix and better utilization levels. Our normalized net income improved strongly caused by a much stronger operating result in our Front-end operations and a stronger performance of ASMPT."

OUTLOOK
Although Front-end sales in Q3 are expected to remain on a high level, we foresee a low double digit decrease as compared to Q2. Q3 order intake is expected to show a double digit decrease as compared to Q2.

INTERIM FINANCIAL REPORT
On August 30, 2013 ASM International will publish its Interim Financial report for the six months ended June 30, 2013. This report comprises regulated information within the meaning of articles 1:1 and 5:25d of the Dutch Financial Markets Supervision Act (Wet op het Financieel Toezicht) and includes consolidated condensed interim financial statements prepared in accordance with IAS 34, "Interim Financial Reporting", an interim management board report and a management board responsibility statement. The interim financial report for the six months ended June 30, 2013 will be available online at www.asm.com as from August 30, 2013.