Highlights Annual Report 2023
CEO message
2023 was another successful year for ASM. Sales increased by 13% at constant currencies, despite softening market conditions. This marked our seventh consecutive year of double-digit growth. We remain on track towards our strategic targets and continue to invest in innovation and expansion.
Benjamin Loh,
President and CEO
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Key events
ASM key events in 2023
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Second assembly floor at Singapore facility completed
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Groundbreaking of new innovation center in Korea
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ASM's 2035 net zero targets verified by SBTi
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Investor Day 2023: 2025 revenue target increased and new guidance issued for 2027
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ASM announces expansion of US operations and new facility in Scottsdale, Arizona
Financial highlights
2.6b Euro revenue in 2023 (+13% at constant currencies)
48.3% Gross margin in 2023
654m Euro operating results in 2023
447m Euro free cash flow in 2023
People highlights
We empower our people by helping them to develop, thrive and grow to the best version of themselves. ‘Best people’ is an integral enabler for our Growth through Innovation strategy.
CFO message
Against the backdrop of softening market conditions, ASM delivered a robust financial performance in 2023. Revenue increased to a new record high. Our operating margin was steady with increased investments in R&D to address future growth opportunities. Free cash flow was at an all-time high.
Paul Verhagen,
Member of the Management Board and Chief Financial Officer
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Planet highlights
We are working to accelerate sustainability as one of our key strategic pillars, moving from ambition to action, and collaborating with key industry stakeholders to move our value chain forward.
SBTi targets
Our Net Zero by 2035 target (1.5°C, all scopes) was verified by SBTi in August 2023
88% electricity from renewable sources
We increased our percentage of electricity from renewable sources from 73% in 2022 to 88% in 2023, and we remain on track to achieve 100% by 2024
Semiconductor Climate Consortium
After playing a principal role in forming and founding the Semiconductor Climate Consortium (SCC), in January 2023, ASM was elected as the first Chair of the SCC.
Interview with the CTO
Hichem M'Saad, Management Board member and Chief Technology Officer, discusses some of the technology inflections that will drive significant opportunities for ASM, such as the transition to gate-all-around, metal ALD, and selective ALD. He also shares his view on ASM’s strength in innovation, the expansions in Korea and Arizona, as well as an update on the silicon carbide Epi business.
Hichem M'Saad,
Member of the Management Board and Chief Technology Officer
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