ASM International Guides 2027 Revenue Above €5.7 Billion, Reaching 2030 Target Three Years Early

ASM International reported record third-quarter 2026 revenue of €1,159 million, up 44% year over year at constant currencies, and guided fourth-quarter revenue to €1,230 million, plus or minus 5%, at constant currencies. Reuters reported that the fourth-quarter forecast was above expectations and that the Dutch chip-equipment maker expects to reach its 2030 sales target three years early. Adjusted net earnings (non-IFRS) rose €109 million to €315 million, on a 52.0% gross margin.

The bigger change is the 2027 outlook. ASM now projects 2027 revenue of more than €5.7 billion at constant currencies, which is the revenue target it set at its 2025 Investor Day for 2030. Management attributed the strength to AI infrastructure build-out: advanced logic and foundry was the main driver in Q3, helped by 2nm investment and a first solid contribution from 1.4nm, while memory sales rose strongly, particularly HBM-related DRAM. Mature logic and foundry sales, largely in China, remained robust. For full-year 2026, ASM expects revenue growth of about 35% at constant currencies.

Supply is the constraint to watch. The company said supply chain conditions are "increasingly tight" and that capacity remains tight across its customer base, and the CEO told Reuters the 2027 figure depends largely on supply chains, which are partly "a little bit stressed out". He also called the roughly 52% gross margin "a floor for the future" despite rising supplier prices.

One point of confusion: ASMPT is a separate Hong Kong-listed company, not an ASM International unit. ASM holds a 24.56% stake in it and books its share as equity-method income, €15.1 million in Q3. ASMPT's own Q3 revenue rose 49% on AI chip packaging while its core semiconductor equipment business missed analyst estimates. Those results are not part of ASM International's reported sales.

What to watch: whether suppliers can support the planned ramp in shipments and whether mature logic demand in China stays relatively stable, as management expects for 2027. The outlook is company guidance and could change with customer spending or regulation.