Over the course of 50 years we have grown to become a global company that develops innovative solutions for our customers, and manages the best interests of our investors, our employees, society and other stakeholders. Read on to discover what we achieved in 2018.



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The demand for smaller, faster and cheaper semiconductor chips continues to rise, driven by advancements in cloud computing, artificial intelligence, smartphones and the Internet of Things.


Our technology is the first step towards making it all possible, as our R&D investment in new materials, new products and new processes means we can help our customers develop their technology roadmap, and further extend Moore’s Law.


In 2018, this led to the introduction of the Synergis ALD tool, which leverages the core technologies from our Pulsar and EmerALD ALD products for high productivity thermal ALD applications. The new Synergis tool allows us to address more ALD applications and therefore increases our served market. Together with our other products and services, this contributed to our strong financial results, which included:

  • net sales of €818 million;
  • bookings of €942 million;
  • operating result of €124 million; and
  • operating cash flow of €137 million.


Strategy & business

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We operate in a fast-paced industry that continues to reshape the world, and our innovative technology enables the semiconductor industry to achieve advancements in computing, communications, energy, transportation, medicine and beyond.
To ensure that we can continue to make a difference to our customers, employees, and company stakeholders, in 2018 we concentrated on the following three key elements of our strategy.


In addition to our fundamental R&D efforts, we continuously expand and deepen our strategic cooperation with key customers, suppliers, chemical manufacturers, and research institutes. This approach enables us to remain innovative and swiftly meet the changing demands of our customers.


We are a key player in the deposition equipment segments for ALD and epitaxy, and a focused niche player for PECVD and vertical furnaces. As a leader in the segment, ALD has turned into a key growth driver for our business, from which we support virtually all of the leading customers in the semiconductor industry. Our newest ALD tool, Synergis, is designed to address a wide range of existing and new ALD applications, effectively increasing the market we serve.


In addition to our internal optimization programs, we are working with our suppliers to improve fundamental quality through statistical methods and process controls. In addition to addressing the technology needs of our customers, we also focus on further increasing equipment throughput and equipment reliability, thereby lowering the cost per wafer of our wafer processing systems.


Performance review

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In 2018, we achieved revenue growth of 11% reaching a record high revenue of €818 million, with sales increasing mainly in the logic, DRAM and analog segments. By industry segment, our 2018 revenue stream was led by memory, closely followed by the logic and foundry segments.


While our ALD product lines continued to be our key sales driver in 2018, accounting for more than half of total equipment revenue, our other product lines also contributed strongly. In our epitaxy product line we increased sales, following the strong growth we achieved in 2017, and we saw additional sales increases in PECVD and vertical furnaces.


Our industry experienced continued growth in 2018, with worldwide semiconductor industry sales increasing by around 14%. This was driven by high memory prices and broad-based electronics demand for cloud services, mobile devices, automotive and industrial applications. These drivers helped the wafer fab equipment market grow by around 10% in 2018.



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Our 2018 sales grew to record levels, reaching €818 million. ALD continued to be the key driver, although the other product lines also made a strong contribution.
We benefited from a further increase in wafer fab equipment spending following the very strong market growth in 2017. Our operating profit increased to €124.3 million from €113.2 million in 2017, while the operating profit margin remained stable.


New bookings increased by 22% in 2018 to €942 million, with equipment bookings for ASMI as a whole led by logic, followed by foundry and then memory. Total research and development (R&D) expenses, excluding impairment charges, decreased by 1% in 2018 compared to 2017, mainly as a result of higher capitalization of development expenses.


Financial statements

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Our 2018 sales grew to record levels, reaching €818 million. ALD continued to be the key driver, although the other product lines also made a strong contribution.
We benefited from a further increase in wafer fab equipment spending following the very strong market growth in 2017. Our operating profit increased to €124.3 million from €113.2 million in 2017, while the operating profit margin remained stable.


New bookings increased by 22% in 2018 to €942 million, with equipment bookings for ASMI as a whole led by logic, followed by foundry and then memory. Total research and development (R&D) expenses, excluding impairment charges, decreased by 1% in 2018 compared to 2017, mainly as a result of higher capitalization of development expenses.


Other Information

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During 2018, we returned approximately €607 million to shareholders in the form of dividends, share buybacks and the capital return. This was up from €281 million in 2017 and €140 million in 2016.
Over the 2010-2018 period, we returned more than €1.6 billion to the financial markets through dividends, share buybacks, return of capital, and buyback of convertible bonds.


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In 2018, we paid a dividend of €0.80 per common share and we will propose to the forthcoming AGM to declare a dividend of €1.00 per share for 2019. The proposed 2019 dividend will mark the ninth consecutive year that we have paid a dividend.


Key to our mission is the ability to attract, develop and retain a highly skilled and diverse workforce. Recruiting and developing a diverse workforce gives us a wide range of perspectives, allows us to explore and adopt new technological ideas and innovations, and enables us to continuously strive to deliver excellent products and service to our clients.

We want to be recognized as an employer of choice in the semiconductor equipment industry. To achieve this, we focus on four specific areas: being able to attract the right talented people; enable our people to perform to the best of their abilities; engage our people by fostering a collaborative and appealing culture; and supporting our people to excel in their continued professional development.


Highly skilled professionals, particularly those with a technical background, are scarce in all 16 countries in which we operate. Despite this, in 2018 we managed to realize our highest recruitment results in history leading to significant growth in our workforce.

We are an equal opportunity employer and welcome and value diversity. We recognize and respect the differences between individuals, including gender, ethnicity, religious beliefs, sexual orientation, knowledge and experience, work background, age, skills, etc..

In 2018 we introduced a new Recruitment Process Outsourcing (RPO) partner for Asia and Europe to support the company in strengthening our global recruitment capabilities. For 2019, we aim to work together with both RPO partners to create an enhanced global talent acquisition model that supports our ability to attract the skilled people needed to develop the company’s future.



In positioning ASMI as an employer of choice and contributing to our mission to Drive Innovation and Deliver Excellence, we deploy a philosophy of differentiating rewards for performance. Following the adjustment of our global levelling system for determining job grades and titles, in 2018, we further improved our short-term incentive program that creates a stronger link between company results and personal performance.

By doing so, we aim to create greater involvement with and influence of company and unit results, while stimulating people to develop and use the best of their abilities within ASMI. In return, our people will receive greater rewards when the company is doing well, further accelerated if they are productive and performing well. In addition to our compensation programs, we also offer employees a range of competitive benefits.


ASMI is an equal opportunity employer. Our compensation policy, is based on market data, skills and education and is further differentiated for performance. Compensation is not based on such criteria as gender, nationality, and age.

ASMI is committed to complying with all applicable laws, regulations and collective labor agreements, including those relating to minimum wages, to wages and hourly pay. In 2018, in every situation our people were paid above the local minimum wage.

As part of our effort to be transparent about the impact of our compensation programs, we have assessed the difference in compensation between our female and male employees. We looked at the compensation ratio at management and non-management levels. The analysis was done by comparing the median compensation as a function of gender per job grade and per country, excluding the impact of job scope and country-specific compensation levels.

Based on our assessment in 2018, we found no significant disparity between female and male compensation at the different levels in our organization.


Both our annual succession and talent review process and our performance management and development process are crucial elements in our Talent Management philosophy.

We conduct structural succession and talent reviews for all critical organizational areas. For those positions identified as pivotal to developing our capabilities, we define the required talent-related actions to ensure timely succession and support. Our Succession and Talent Review (S&TR) process supports management and employees in discussing key objectives and competencies on a regular basis, and helps ensure there is open dialog between them.

The ASMI New College Graduate (NCG) program focuses on top graduates with advanced degrees in physics, chemistry, materials science, and engineering. Working with a select group of universities that focus on the education and training that fit our technology needs, we participate in career events, partnerships, and projects that give us the opportunity to showcase the company and attract new talent.

During the first few years of their careers, new talent are based at one of our innovation centers in Helsinki, Finland, or Leuven, Belgium, before being given the opportunity to apply their knowledge in different product areas at one of our global product development facilities.

As part of our leadership development programs, we ran three programs for managers in 2018. The Leadership Academy programs helps managers and leaders from all levels of the organization to foster a collaborative and engaging culture and build upon the diversity of their teams. In 2018, after three global editions, we reviewed the Mobilize Organization program for directors and up. In 2019, based on the evaluation outcomes, we aim to implement a renewed program.


As part of our commitment to corporate responsibility, ASMI is exploring ways to increase opportunities for people with a distance to the labor market, and who have limited job prospects due to their health, mental or physical condition.


The company has adopted a Code of Ethics that sets out clear standards in different areas of business life. Its purpose is to promote a clear, strong, and consistent culture of ethics that applies to our Supervisory Board and Management Board, and to all our employees, consultants, contractors, temporary employees, and critical/strategic suppliers. The full Code of Ethics can be found on our website.

We continuously promote ethical behavior and ensure all employees are actively exposed to our Code of Ethics in multiple ways. New hires are trained in the Code and associated policies within their first weeks of employment; refresher training on ethics topics is conducted annually; articles from Executives and members of the Ethics Committee are published through our global employee newsletter; we post visual awareness reminders at ASMI sites; and a dedicated ethics website is directly accessible via ASMI’s Intranet home page.


Potential violations of our Code of Ethics can be reported through the SpeakUp! process, or directly to management, HR, or the Compliance Officer. When we receive complaints, these are investigated under the supervision of the Ethics Committee.

The SpeakUp! program enables employees, suppliers, customers, and any other stakeholder to report ethics issues, concerns or complaints anonymously and in their own language. Independent of the way of reporting, our Code of Ethics includes a non-retaliation policy that applies to any person making use of this process. We encourage our employees to speak up when they feel ASMI’s actions or behavior are (potentially) in conflict with the Code of Ethics.


Our Global Employment Standards (GES) also summarize our approach to respecting human rights throughout our global operations and supply chain. They are written with everyone in our value chain in mind. The GES reflect the principles laid out by the United Nations in the Guiding Principles on Business and Human Rights, and support the RBA Code of Conduct framework, including the following:

  • Prohibit the use of forced or involuntary labor, including fees of any type to secure employment;
  • Prohibit the employment of child labor; ASMI policy specifically does not allow anyone under the age of 18 to be employed at ASMI; and
  • Prohibit corporal punishment, threats of violence or other forms of physical or verbal coercion or harassment. We believe that everyone deserves to work in an environment free of any threats to their human rights.


When everyone acts as a safety leader, we can achieve ZERO HARM! We believe that focusing on the key elements of safety leadership within the company helps everyone become a safety leader. Together, we work to eliminate the risks and hazards that can lead to safety and health incidents. We model this through our BeSafe - The 6Es of Safety Leadership framework, which empowers everyone to lead by example through taking action.

The framework emphasizes eliminating hazards and evaluates performance through surveys and incident rates. In 2018, we recognized four employees for their achievements in demonstrating the attributes of safety leadership via a quarterly global safety leadership award. We also recognize to be successful in reducing incidents at customer sites in our service organization; we have to also model this with our customers.

We expanded our Safety Leadership Collaboration meetings to include more customers in 2018. These are innovative collaborations to identify risks in the shared work environment, and using our safety observations to inform and address areas of shared improvement. These sessions are driving improved safety for our people, our customers, as well as our industry overall.


The data (person identifiable information) about our employees is data we protect with care. We do so in all countries in which we operate with the absolute aim to comply with the local legal requirements. In this respect we have adopted and rolled out policies and privacy codes, and entered into agreements (also with third party processors) in our effort to protect the integrity and confidentiality of the data of our employees. The same is applicable with respect to the privacy of our customers and suppliers.



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.


Of new materials






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.

Expanding the






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.

Moore with






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.