ASMPT (0522) Q1 2026 earnings summary

Executive summary

• Q1 2026 achieved the highest quarterly bookings and billings in several years, driven by AI-related demand across TCB, photonics, CPO, flip chip, and mainstream wire and die bonding solutions.

• AI proliferation is structurally increasing demand for advanced packaging and SMT solutions, with strong engagement from global customers in logic, memory, and data center markets.

• Bookings reached the highest level in four years, significantly exceeding expectations, with SMT bookings at a record level.

• Recognized with Intel EPIC Supplier Award for 2026, reflecting strong technical capability and customer collaboration.

• Revenue and adjusted EPS were above market consensus, supported by robust performance in both SEMI and SMT segments.

Financial highlights

• Q1 2026 revenue reached US$507.9 million (HK$3,966.8 million), flat sequentially but up 32.0% year-on-year, marking the highest quarterly revenue in three years.

• Group bookings hit US$727.0 million (HK$5,673.4 million), up 46.0% QoQ and 71.6% YoY, the highest in four years, with SMT bookings at a record level.

• Adjusted gross margin was 39.5%, up 357 bps QoQ but down 151 bps YoY; adjusted net profit was HK$335.2 million, up 123.8% QoQ and 193.5% YoY.

• Adjusted basic EPS was HK$0.81, up 118.9% QoQ and 189.3% YoY, exceeding market consensus.

• Book-to-bill ratio reached 1.43, indicating strong order momentum.

Outlook and guidance

• Q2 2026 revenue guidance is US$540–$600 million, midpoint $570 million, up 12.2% QoQ and 37.0% YoY, exceeding market consensus.

• Bookings expected to remain elevated in Q2 for both segments, with SMT moderating QoQ due to a high base but still up YoY.

• AI-driven demand expected to support structural growth across semi and SMT throughout 2026.