Our strategy aims to create sustainable value for all our stakeholders. As part of this strategy, we are committed to creating long-term shareholder value. This chapter provides information that is particularly relevant for shareholders and investors, including information related to the share listing and share price performance, dividends and share buybacks.
On December 31, 2018, the total number of issued common shares of ASMI amounted to 56,297,394 compared to 62,297,394 at year-end 2017. The decrease was the result of the cancellation of 6,000,000 treasury shares that was approved by the Annual Meeting of Shareholders (AGM) on May 28, 2018, and became effective on August 1, 2018.
On December 31, 2018, we had 49,318,898 outstanding common shares excluding 6,978,496 treasury shares. This compared to 56,140,153 outstanding common shares and 6,157,241 treasury shares at year-end 2017. Besides the cancellation of 6 million treasury shares in August 2018, the change in the number of treasury shares in 2018 was the result of approximately 7.2 million repurchased shares and approximately 421,000 treasury shares that were used as part of share based payments.
|As per January 1:|
|Changes during the year:|
|Cancellation of treasury shares||1,500,000||6,000,000|
|Treasury shares used for share based performance programs||745,256||421,479|
|As per December 31:|
On December 31, 2018, 49,022,494 of the outstanding common shares were registered with our transfer agent in the Netherlands, ABN AMRO Bank NV, and 296,404 were registered with our transfer agent in the United States, Citibank, NA, New York.
On February 21, 2019, ASMI announced that it would propose to the AGM 2019 the cancellation of 5 million treasury shares. This follows the intention that ASMI earlier expressed to reduce its issued share capital by withdrawing the shares repurchased as part of the 2018 share buyback program, save for such number of treasury shares as maybe necessary to fund ongoing share and option programs for employees and board members.
The market capitalization of ASMI at year-end 2018 was €1,785 million, based on the closing share price of €36.20 at Euronext Amsterdam on December 31, 2018 and 49.3 million total outstanding shares per year-end. The market capitalization at year-end 2017 was €3,165 million.
On December 31, 2018, the closing price of ASMI’s shares on Euronext Amsterdam was €36.20. The highest closing price during the year was €62.62, on March 12, 2018, and the lowest was €33.90, on December 24, 2018. The average daily trading volume of ASMI shares on Euronext Amsterdam in 2018 was 266,960. This compares to an average daily volume of 251,997 in 2017.
Euronext Amsterdam accounted for 59% of total trading in ASMI shares in 2018, with a further 21% of total traded on CHI-X, 9% on Turquoise and 11% on other trading venues.
The graph below shows the performance of ASMI’s shares on Euronext. The total share return in this graph is the performance of the share including dividends paid and capital returned over the period.
Following the voluntary delisting from Nasdaq in 2015, our NY Registry Shares have been eligible for trading on the over-the-counter (OTC) market in the United States under the symbol ASMIY. Information on the trading and share price of our shares on the OTC Market in the United States can be found on www.otcmarkets.com.
Over the past 50 years we have grown to become a leading global supplier
of semiconductor wafer processing equipment. A company that develops
innovative process solutions for our customers, and manages itself in the best
interests of our investors, our employees, society, and other stakeholders.
Yet now is the time to enter a new era of innovation, to embark on the next
phase of growth. We understand that this requires commitment and strength
across many areas. From innovation in R&D, to advancing new technologies
and addressing new applications. From developing our people, to creating
even stronger relationships with key customers.
This is how we will take the next leap forward.
ROADMAP TO THE FUTURE
Our roadmap to the future will enable us to not only
achieve our next phase of growth, it will ensure we
can continue to help our customers achieve their
technology roadmaps for next-generation devices.
Our technology helps drive innovation, increasing the number of scientific breakthroughs, many of which are achieved from our advanced process equipment that deposits new materials with precision and productivity, positively benefiting society in sectors from healthcare and education, to transport and energy.
For semiconductor manufacturers, scaling chips
to smaller dimensions is an ongoing challenge.
Our innovations and equipment are vital in helping make many of these transitions happen.
Striving for efﬁciency ensures that our
customers get the products, services,
and results they expect. Intensifying
our focus on efﬁciency will make us a
stronger company, ready to take the
next leap forward.
We are a multinational company that
embraces diversity in every sense
of the word. With 29 different
nationalities working across the
company, we combine our talents
to drive innovation.
Achieving our ambitions takes intelligence, knowledge, skill,
determination, and dedication. And it is this combination of
qualities that we nurture in our people.
Our goal is to impact tomorrow’s generation
as positively as we’ve impacted today’s.
Making this happen takes the xtraordinary
talent of our people, who work together
to drive innovation and deliver excellence.
Collaboration is fundamental to our
continued success; from working
with our customers to optimize our
equipment and processes to enable
their technology roadmaps, to
creating partnerships on cutting-edge
research and development.
Operational excellence is one of the essential
pillars of our strategy, which enables us to provide
our customers with the high-quality, leading-edge
products and services they demand.
R&D is central to our development,
leading to new device architectures,
new materials, and new processes
that strengthen our competitive
positioning and enable our customers
to deliver the next-generation chips.
By extending our technological scope with a
more diverse product portfolio, we can help our
customers continue to advance their business
while growing our own in new market segments.
We create long-term value for our
stakeholders in a variety of ways.
From working with our customers
to develop innovative solutions, to
ensuring value creation growth
and positive investor returns.
We are committed to positively
contributing to society and
reducing our impact on the
environment. Only then can
we truly say we are helping
create more with less.
We believe sustainability takes many forms.
From developing sustainable technology
roadmaps for our customers, to creating
a sustainable living environment for all.
Safety is a front-line requirement,
which is why our ZERO HARM!
policy outlines our vision on product
safety, and our CR policy lays out
our commitment and expectations
towards health and safety.