ASMPT Bookings Reach HK$8,845.1 Million Amid AI Boom
Key Facts
ASMPT recorded record bookings of HK$8,845.1 million in the third quarter of 2026, up 24.7% from the previous quarter and 137.9% from the same period last year. The book-to-bill ratio was 1.69, its highest level since the first quarter of 2021, pointing to strong demand for the group’s equipment. The increase came across its semiconductor (SEMI) and surface-mount technology (SMT) equipment segments, as demand linked to AI infrastructure extended across more than one business. Chief Executive Basil Haddad said the record bookings reflected "continued AI infrastructure investment driving demand across our broad portfolio." He added that demand was particularly strong in thermal compression, SMT and photonics.
SEMI bookings rose 31.3% quarter on quarter and 156.3% year on year, reaching their highest level since the first quarter of 2021. The company said AI-driven demand supported a broad range of the segment’s portfolio, particularly thermal compression, photonics and Flip Chip solutions. Demand also extended to traditional SEMI products, with orders tied to power management and AI server board applications in data centers. The company linked this demand to wire bonding and die bonding tools, alongside infrastructure expansion and higher utilization at outsourced assembly and test facilities. These drivers combine chip processing and connection needs with server equipment built to handle AI workloads.
In the SMT segment, bookings set a record for the third consecutive quarter, rising 18.9% from the previous quarter and 122.1% year on year. ASMPT attributed the performance mainly to strong demand for AI servers, as well as large orders and early call-offs of orders worth more than US$100 million. These orders lifted bookings in the quarter, but also mean comparison with the current record will be affected by the absence of some non-recurring transactions in the coming period. The company expects fourth-quarter bookings to remain well above their level a year earlier, but below the third-quarter level. It attributed the expected decline from the peak to large orders and early SMT call-offs.
On financial performance, group revenue was HK$5,247.0 million, up 6.3% quarter on quarter and 48.7% year on year. The company said revenue and adjusted earnings per share exceeded market expectations, while revenue also surpassed the midpoint of its previous guidance range. Adjusted gross margin rose to 42.9%, up 35 basis points from the previous quarter and 517 basis points from a year earlier. Adjusted net profit was HK$689.7 million, up 8.2% quarter on quarter and 486.3% year on year. The company attributed the increase in net profit to higher operating profit, and the margin improvement to stronger performance in both the SEMI and SMT segments.
On demand for packaging and interconnect solutions, C2S orders reached a record, driven by assembly and test partners’ demand for larger thermal compression tools for composite chips at a leading advanced logic customer. The company said thermal compression solutions serve AI-related advanced packaging applications. Photonics also recorded record bookings and revenue as production increased for 800G and 1.6T units and next-generation optical modules. ASMPT said the production increase supported the business’s results during the quarter. This reflects the widening impact of data center investment, from chip-processing equipment to optical data transmission solutions.
ASMPT expects fourth-quarter 2026 revenue of between US$670 million and US$730 million, with a midpoint of US$700 million, equivalent to growth of 4.6% quarter on quarter and 37.5% year on year. The company expects double-digit revenue growth in SMT, while SEMI revenue is expected to remain stable because of long lead times for advanced packaging products. This comes as bookings are expected to remain well above year-earlier levels despite falling from the third-quarter peak. Further out, the company expects AI demand to drive sustained revenue growth in 2027. ASMPT had said its third-quarter results would be released at around 7:00 a.m. Hong Kong time on October 28, 2026, with an investor call scheduled for 8:30 a.m. the same day.