(\u20ac millions) | FY2024 Reported | Reclassification | FY2024 Adjusted |
Equipment revenue | 2,385.4 | (82.1) | 2,303.3 |
Spares & Services revenue | 547.3 | 82.1 | 629.4 |
Revenue | 2,932.7 | - | 2,932.7 |
Land | Infinite |
Building and leasehold improvements | 1-25 years |
Machinery equipment | 2-10 years |
Furniture and fixtures and other equipment | 2-10 years |
Development cost | 5 years |
Software | 3-10 years |
Purchased technology | 5-15 years |
Other intangibles | 1-17 years |
Products and services | Nature, timing of satisfaction of performance obligation and significant payment terms |
Equipment | Revenue from equipment is recognized at a point in time when the performance obligation is satisfied, when control transfers. This is usually upon shipment depending on incoterms. The amount of revenue recognized is based on the amount of the transaction price that is allocated to the performance obligation. The total consideration of the contract is allocated between all distinct performance obligations in the contract based on their stand-alone selling prices. The stand-alone selling prices are mostly determined based on other stand-alone sales that are directly observable or based on the expected cost plus a margin approach. Any customer discounts and credits, within volume purchase agreements or bundled agreements, are considered as a reduction of the transaction price, unless this is/can be considered as consideration for a distinct good or service. |
Installation | The customer simultaneously consumes and receives the benefits provided by the performance of the installation. As such, transfer of control takes place over the period of installation from delivery through customer acceptance, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. |
Spares | Revenue from spares is recognized at a point in time when the performance obligation is satisfied, when the control transfers. This is usually upon shipment depending on incoterms. The amount of revenue recognized is based on the amount of the transaction price that is allocated to the performance obligation. Any customer discounts and credits, within a volume purchase agreements, are considered as a reduction of the transaction price, unless this is/can be considered as consideration for a distinct good or service. |
Revenue on royalties and licenses for technology included in equipment and/or spares | The fixed price royalty is a right to use the licenses and revenue is recognized at a point in time that the license is transferred to the customer. For the sales-based royalty, the performance obligation is satisfied when the license is transferred to the customer. Given this is earlier than when the sales occur, revenue should be recognized when the sales occur. |
Outcome based (\"support\") services | The customer simultaneously consumes and receives the benefits provided by the performance of the support. For the majority of support services transfer of control takes place over the period of support. |
(\u20ac millions) | FY2024 Reported | Reclassification | FY2024 Adjusted |
Equipment revenue | 2,385.4 | (82.1) | 2,303.3 |
Spares & Services revenue | 547.3 | 82.1 | 629.4 |
Revenue | 2,932.7 | - | 2,932.7 |
Land | Infinite |
Building and leasehold improvements | 1-25 years |
Machinery equipment | 2-10 years |
Furniture and fixtures and other equipment | 2-10 years |
Land | Infinite |
Building and leasehold improvements | 1-25 years |
Machinery equipment | 2-10 years |
Furniture and fixtures and other equipment | 2-10 years |
Development cost | 5 years |
Software | 3-10 years |
Purchased technology | 5-15 years |
Other intangibles | 1-17 years |
Development cost | 5 years |
Software | 3-10 years |
Purchased technology | 5-15 years |
Other intangibles | 1-17 years |
Products and services | Nature, timing of satisfaction of performance obligation and significant payment terms |
Equipment | Revenue from equipment is recognized at a point in time when the performance obligation is satisfied, when control transfers. This is usually upon shipment depending on incoterms. The amount of revenue recognized is based on the amount of the transaction price that is allocated to the performance obligation. The total consideration of the contract is allocated between all distinct performance obligations in the contract based on their stand-alone selling prices. The stand-alone selling prices are mostly determined based on other stand-alone sales that are directly observable or based on the expected cost plus a margin approach. Any customer discounts and credits, within volume purchase agreements or bundled agreements, are considered as a reduction of the transaction price, unless this is/can be considered as consideration for a distinct good or service. |
Installation | The customer simultaneously consumes and receives the benefits provided by the performance of the installation. As such, transfer of control takes place over the period of installation from delivery through customer acceptance, measured on a straight-line basis, as our performance is satisfied evenly over this period of time. |
Spares | Revenue from spares is recognized at a point in time when the performance obligation is satisfied, when the control transfers. This is usually upon shipment depending on incoterms. The amount of revenue recognized is based on the amount of the transaction price that is allocated to the performance obligation. Any customer discounts and credits, within a volume purchase agreements, are considered as a reduction of the transaction price, unless this is/can be considered as consideration for a distinct good or service. |
Revenue on royalties and licenses for technology included in equipment and/or spares | The fixed price royalty is a right to use the licenses and revenue is recognized at a point in time that the license is transferred to the customer. For the sales-based royalty, the performance obligation is satisfied when the license is transferred to the customer. Given this is earlier than when the sales occur, revenue should be recognized when the sales occur. |
Outcome based (\"support\") services | The customer simultaneously consumes and receives the benefits provided by the performance of the support. For the majority of support services transfer of control takes place over the period of support. |
(\u20ac million) | December 8, 2025 |
Cash consideration | 83.1 |
Contingent consideration | 18.7 |
Total consideration transferred | 101.8 |
(\u20ac million) | December 8, 2025 |
Intangible assets, net | 65.8 |
Of which: | |
Purchased technology | 32.9 |
Other Intangibles | 32.9 |
Right of use assets | 2.0 |
Property, plant & equipment | 3.5 |
Accounts receivable, net | 4.5 |
Inventories, net | 7.6 |
Contract assets | 2.7 |
Prepayments | 0.2 |
Cash & cash equivalents | 1.7 |
Total Assets | 88.0 |
Non-current lease liabilities | (0.9) |
Trade payables | (2.4) |
Contract liabilities | (0.5) |
Accrued and other liabilities | (4.2) |
Total Liabilities assumed | (8.0) |
Total net identifiable assets | 80.0 |
Total consideration transferred | 101.8 |
Goodwill on acquisition | 21.8 |
Assets acquired | Valuation technique |
Technology | Relief-from-Royalty (\u201cRFR\u201d) method |
Customer relationships | Multi period excess earning method (\u201cMEEM\u201d) |
Brand name \u2013 Axus Technology | Relief-from-Royalty (\u201cRFR\u201d) method |
\u20ac million | 2026 Estimate | 2027 Estimate | 2028 Estimate | Years thereafter |
Net research and development expenses | (2.2) | (2.2) | (2.2) | (25.9) |
Selling, general and administrative expenses 1 | (9.7) | (5.6) | (3.5) | (13.5) |
Total impact on operating results | (11.9) | (7.8) | (5.7) | (39.4) |
Finance expense 2 | (3.9) | (2.5) | (0.5) | - |
Income taxes | 2.5 | 1.6 | 1.2 | 8.3 |
Total impact on net earnings | (13.3) | (8.7) | (5.0) | (31.1) |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Current | 505.9 | 681.9 |
Overdue <30 days | 9.3 | 47.6 |
Overdue 31-60 days | 16.7 | 18.2 |
Overdue 61-120 days | 12.8 | 19.3 |
Overdue >120 days | 17.4 | 21.9 |
Total | 562.1 | 789.0 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Balance at beginning of year | (1.0) | (1.5) |
Charged to selling, general and administrative expenses | 0.1 | (0.4) |
Utilization of the provision | - | 0.9 |
Balance at end of year | (0.9) | (1.0) |
Year ended December 31, 2025 | Financial assets / liabilities at fair value through profit or loss 1 | Financial assets as amortized costs | Other financial liabilities | Total |
Financial assets: | ||||
Cash and cash equivalents | 735.1 | 291.8 | - | 1,026.9 |
Accounts receivable | - | 562.1 | - | 562.1 |
Financial liabilities: | ||||
Accrued expenses and other liabilities | - | - | 239.0 | 239.0 |
Contingent consideration payable | 18.4 | - | - | 18.4 |
Accounts payable | - | - | 214.9 | 214.9 |
Year ended December 31, 2024 | Financial assets/ liabilities at fair value through profit or loss 1 | Financial assets as amortized costs | Other financial liabilities | Total |
Financial assets: | ||||
Cash and cash equivalents | 471.8 | 454.7 | - | 926.5 |
Accounts receivable | - | 789.0 | - | 789.0 |
Financial liabilities: | ||||
Accrued expenses and other liabilities | - | - | 258.9 | 258.9 |
Contingent consideration payable | 97.0 | - | - | 97.0 |
Accounts payable | - | - | 282.6 | 282.6 |
(\u20ac million) | 2025 | 2024 |
Interest income | 53.1 | 21.7 |
Interest expense | (0.9) | (1.9) |
Change in fair value of contingent consideration | (3.0) | (8.7) |
Result from foreign currency exchange | (83.7) | 45.0 |
Addition to allowance for doubtful accounts receivable | 0.1 | (0.4) |
\u00a0 | December 31, | |||||||
\u00a0 | 2025 | 2024 | ||||||
(million) | USD | JPY | KRW | SGD | USD | JPY | KRW | SGD |
Accounts receivable | 559.9 | 2,685.1 | 11,040.7 | 0.8 | 715.1 | 2,032.6 | 9,863.8 | 0.5 |
Cash and cash equivalents | 682.0 | 3,681.3 | 36,620.5 | 24.3 | 538.1 | 146.7 | 12,805.9 | 28.9 |
Accounts payable | (121.5) | (3,646.8) | (29,910.3) | (79.9) | (182.8) | (3,148.8) | (40,305.1) | (47.1) |
Total in respective currencies | 1,120.4 | 2,719.6 | 17,750.9 | (54.9) | 1,070.3 | (969.5) | (17,635.4) | (17.7) |
Total in EUR using 31 December exchange rates | 953.6 | 14.7 | 10.7 | (36.3) | 1,030.3 | (5.9) | (12.3) | (12.5) |
Impact on financial instruments | ||
(million) | 2025 | 2024 |
10% increase of US dollar versus euro | 95.4 | 103.0 |
10% decrease of US dollar versus euro | (95.4) | (103.0) |
10% increase of Singapore dollar versus euro | (3.6) | (1.3) |
10% decrease of Singapore dollar versus euro | 3.6 | 1.3 |
10% increase of Korean won versus euro | 1.0 | (1.1) |
10% decrease of Korean won versus euro | (1.0) | 1.1 |
10% increase of Japanese yen versus euro | 1.5 | (0.6) |
10% decrease of Japanese yen versus euro | (1.5) | 0.6 |
Year ended December 31, 2025 | Total | Less\u00a0than 1 year | 1-5 years | More\u00a0than 5 years |
Accounts payable | 214.9 | 214.9 | - | - |
Accrued expenses and other payables | 197.0 | 197.0 | - | - |
Non-current lease liabilities | 19.6 | - | 16.7 | 2.9 |
Contingent consideration payable | 25.2 | 25.2 | ||
Purchase obligations: | ||||
Purchase commitments to suppliers | 560.9 | 532.5 | 16.4 | 12.0 |
Capital expenditure and other commitments | 173.2 | 172.5 | 0.5 | 0.1 |
Total contractual obligations | 1,190.7 | 1,116.9 | 58.9 | 14.9 |
Year ended December 31, 2024 | Total | Less\u00a0than 1 year | 1-5 years | More\u00a0than 5 years |
Accounts payable | 282.6 | 282.6 | - | - |
Accrued expenses and other payables | 235.3 | 235.3 | - | - |
Non-current lease liabilities | 25.0 | - | 21.4 | 3.7 |
Contingent consideration payable | 100.0 | 100.0 | - | - |
Purchase obligations: | ||||
Purchase commitments to suppliers | 616.7 | 523.6 | 93.1 | - |
Capital expenditure and other commitments | 109.1 | 107.6 | 1.5 | - |
Total contractual obligations | 1,368.7 | 1,249.1 | 116.0 | 3.7 |
Year ended December 31, 2025 | Financial assets / liabilities at fair value through profit or loss 1 | Financial assets as amortized costs | Other financial liabilities | Total |
Financial assets: | ||||
Cash and cash equivalents | 735.1 | 291.8 | - | 1,026.9 |
Accounts receivable | - | 562.1 | - | 562.1 |
Financial liabilities: | ||||
Accrued expenses and other liabilities | - | - | 239.0 | 239.0 |
Contingent consideration payable | 18.4 | - | - | 18.4 |
Accounts payable | - | - | 214.9 | 214.9 |
Year ended December 31, 2024 | Financial assets/ liabilities at fair value through profit or loss 1 | Financial assets as amortized costs | Other financial liabilities | Total |
Financial assets: | ||||
Cash and cash equivalents | 471.8 | 454.7 | - | 926.5 |
Accounts receivable | - | 789.0 | - | 789.0 |
Financial liabilities: | ||||
Accrued expenses and other liabilities | - | - | 258.9 | 258.9 |
Contingent consideration payable | 97.0 | - | - | 97.0 |
Accounts payable | - | - | 282.6 | 282.6 |
(\u20ac million) | 2025 | 2024 |
Interest income | 53.1 | 21.7 |
Interest expense | (0.9) | (1.9) |
Change in fair value of contingent consideration | (3.0) | (8.7) |
Result from foreign currency exchange | (83.7) | 45.0 |
Addition to allowance for doubtful accounts receivable | 0.1 | (0.4) |
(\u20ac million) | Land and buildings | Motor vehicles | Other machinery and equipment | Total |
Balance January 1, 2024 | 32.1 | 1.3 | 1.9 | 35.4 |
Additions | 7.9 | 1.1 | 0.1 | 9.1 |
Modifications and reassessments | 4.6 | 0.2 | 0.2 | 5.0 |
Depreciation for the year | (11.9) | (1.3) | (0.6) | (13.9) |
Impairment charges | - | - | - | - |
Foreign currency translation effect | 0.9 | - | 0.1 | 0.9 |
Balance December 31, 2024 | 33.5 | 1.3 | 1.7 | 36.5 |
Acquisitions through business combinations | 2.0 | - | - | 2.0 |
Additions | 5.5 | 1.1 | 0.1 | 6.7 |
Modifications and reassessments | 5.2 | - | 0.1 | 5.3 |
Depreciation for the year | (11.4) | (1.1) | (0.6) | (13.0) |
Impairment charges | - | - | - | - |
Foreign currency translation effect | (2.4) | - | (0.1) | (2.5) |
Balance December 31, 2025 | 32.5 | 1.2 | 1.2 | 35.0 |
(\u20ac million) | 2025 | 2024 |
Leases under IFRS 16 | ||
Interest on lease liabilities | 0.8 | 0.8 |
Depreciation expenses | 13.0 | 13.9 |
Impairment charges | - | - |
Expenses relating to short-term and low value\u00a0 leases | 0.5 | 0.6 |
Total | 14.2 | 15.3 |
2025 | 2024 | |
Total cash outflow for leases | 14.1 | 14.2 |
(\u20ac million) | Land, buildings and leasehold improvements | Machinery and equipment | Furniture and fixtures and other equipment | Assets under construction | Total |
At cost | |||||
Balance January 1, 2024 | 190.3 | 413.7 | 61.2 | 50.0 | 715.1 |
Additions | 2.5 | 0.6 | 2.8 | 162.0 | 167.9 |
Disposals | (0.3) | (7.6) | (2.6) | - | (10.5) |
Transfer from assets under construction | 5.5 | 49.4 | 12.3 | (67.2) | - |
Foreign currency translation effect | 2.0 | 7.7 | 0.2 | 1.9 | 11.8 |
Balance December 31, 2024 | 200.0 | 463.8 | 73.9 | 146.6 | 884.3 |
Acquisitions through business combinations | - | 3.5 | - | - | 3.5 |
Additions | 0.4 | 2.7 | 0.2 | 215.2 | 218.5 |
Disposals | (9.1) | (2.1) | (2.1) | (1.2) | (14.5) |
Transfer from assets under construction | 58.4 | 55.4 | 12.3 | (126.0) | - |
Foreign currency translation effect | (20.6) | (47.4) | (5.9) | (14.0) | (87.9) |
Balance December 31, 2025 | 229.0 | 476.0 | 78.4 | 220.5 | 1,004.0 |
Accumulated depreciation and impairment | |||||
Balance January 1, 2024 | 42.4 | 256.4 | 30.1 | 1.2 | 330.2 |
Depreciation for the year | 10.6 | 52.5 | 9.7 | - | 72.7 |
Impairment charges | - | - | - | - | - |
Disposals | (0.2) | (6.8) | (2.1) | - | (9.1) |
Foreign currency translation effect | 0.6 | 6.8 | 0.3 | - | 7.7 |
Balance December 31, 2024 | 53.4 | 308.9 | 37.9 | 1.2 | 401.4 |
Depreciation for the year | 14.1 | 57.4 | 11.2 | - | 82.7 |
Impairment charges | 0.2 | 1.5 | - | - | 1.6 |
Disposals | (8.9) | (2.0) | (1.7) | (1.2) | (13.9) |
Foreign currency translation effect | (4.4) | (33.5) | (3.3) | - | (41.2) |
Balance December 31, 2025 | 54.4 | 332.2 | 44.1 | - | 430.7 |
Carrying amounts | |||||
December 31, 2024 | 146.6 | 155.0 | 36.0 | 145.4 | 482.9 |
December 31, 2025 | 174.6 | 143.8 | 34.3 | 220.5 | 573.2 |
Useful\u00a0lives\u00a0in\u00a0years | 1-25 | 2-10 | 2-10 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
At cost | ||
Balance at beginning of year | 141.5 | 107.4 |
Evaluation tools shipped | 54.0 | 63.3 |
Evaluation tools sold and returns | (30.0) | (33.0) |
Foreign currency translation effect | (16.9) | 3.8 |
Balance at end of year | 148.6 | 141.5 |
Accumulated depreciation | ||
Balance at beginning of year | 32.0 | 27.8 |
Depreciation for the year | 26.2 | 20.4 |
Evaluation tools sold and returns | (11.6) | (16.8) |
Foreign currency translation effect | (4.1) | 0.6 |
Balance at end of year | 42.5 | 32.0 |
Carrying amount at beginning of year | 109.5 | 79.6 |
Carrying amount at end of year | 106.1 | 109.5 |
Useful\u00a0lives\u00a0in\u00a0years: | 5 |
(\u20ac million) | ALD | PEALD | SiC Epi | CMP | Total |
Balance January 1, 2024 | 2.6 | 26.7 | 290.8 | - | 320.2 |
Foreign currency translation effect | - | 1.2 | - | - | 1.2 |
Balance December 31, 2024 | 2.6 | 27.9 | 290.8 | - | 321.3 |
Acquisitions through business combinations | - | - | - | 21.8 | 21.8 |
Foreign currency translation effect | - | (2.2) | - | (0.3) | (2.6) |
Balance December 31, 2025 | 2.6 | 25.7 | 290.8 | 21.4 | 340.5 |
(\u20ac million) | Development costs | Software | Purchased technology | Other intangibles | Total |
At cost | |||||
Balance January 1, 2024 | 664.0 | 55.7 | 219.6 | 90.8 | 1,030.0 |
Additions | 166.3 | 30.1 | - | 0.4 | 196.8 |
Disposals | - | (0.9) | - | - | (0.9) |
Derecognition | (103.3) | - | - | - | (103.3) |
Foreign currency translation effect | (0.9) | 1.5 | 1.4 | (0.1) | 1.9 |
Balance December 31, 2024 | 726.2 | 86.5 | 220.9 | 91.1 | 1,124.7 |
Acquisitions through business combinations | - | - | 32.9 | 32.9 | 65.8 |
Additions | 205.1 | 44.5 | - | 0.3 | 249.8 |
Disposals | - | (1.4) | (1.9) | (0.1) | (3.4) |
Derecognition | (117.2) | - | - | - | (117.2) |
Foreign currency translation effect | - | (5.2) | (3.5) | (0.4) | (9.1) |
Balance December 31, 2025 | 814.1 | 124.4 | 248.4 | 123.8 | 1,310.6 |
Accumulated amortization and impairment losses | |||||
Balance January 1, 2024 | 239.7 | 33.3 | 27.2 | 24.2 | 324.4 |
Amortization for the year | 65.9 | 3.5 | 14.1 | 4.9 | 88.3 |
Impairments | 0.4 | - | - | - | 0.4 |
Derecognition | (103.3) | - | - | - | (103.3) |
Disposals | - | (0.9) | - | - | (0.9) |
Foreign currency translation effect | (0.2) | 0.2 | 0.2 | (0.1) | - |
Balance December 31, 2024 | 202.6 | 36.1 | 41.5 | 29.0 | 309.1 |
Amortization for the year | 92.4 | 6.0 | 14.0 | 5.2 | 117.6 |
Impairments | 9.7 | - | - | - | 9.7 |
Derecognition | (117.2) | - | - | - | (117.2) |
Disposals | - | (1.0) | (1.9) | (0.1) | (3.0) |
Foreign currency translation effect | - | (0.8) | (0.9) | 0.1 | (1.6) |
Balance December 31, 2025 | 187.5 | 40.3 | 52.7 | 34.1 | 314.7 |
Carrying amounts | |||||
December 31, 2024 | 523.6 | 50.4 | 179.5 | 62.1 | 815.6 |
December 31, 2025 | 626.6 | 84.1 | 195.7 | 89.6 | 995.9 |
(\u20ac million) | Development costs | Software | Purchased technology | Other intangibles | Total | ||
2025 (actual) | 92.4 | - | 92.4 | 6.0 | 14.0 | 5.2 | 117.6 |
Estimated | Amortization started (\"in use\") | Future amortization start date (\"in development\") | Total expected amortization | ||||
2026 | 84.2 | 18.0 | 102.2 | 10.4 | 16.1 | 7.5 | 136.3 |
2027 | 75.8 | 46.5 | 122.3 | 9.3 | 16.1 | 6.8 | 154.5 |
2028 | 63.5 | 69.5 | 133.0 | 8.6 | 16.1 | 6.8 | 164.4 |
2029 | 35.8 | 72.8 | 108.6 | 8.4 | 16.1 | 6.6 | 139.7 |
2030 | 1.9 | 73.0 | 75.0 | 8.4 | 16.1 | 6.0 | 105.4 |
Years thereafter | - | 85.5 | 85.5 | 39.0 | 115.1 | 56.0 | 295.6 |
261.2 | 365.3 | 626.6 | 84.1 | 195.7 | 89.6 | 995.9 |
(\u20ac million) | ALD | PEALD | SiC Epi | CMP | Total |
Balance January 1, 2024 | 2.6 | 26.7 | 290.8 | - | 320.2 |
Foreign currency translation effect | - | 1.2 | - | - | 1.2 |
Balance December 31, 2024 | 2.6 | 27.9 | 290.8 | - | 321.3 |
Acquisitions through business combinations | - | - | - | 21.8 | 21.8 |
Foreign currency translation effect | - | (2.2) | - | (0.3) | (2.6) |
Balance December 31, 2025 | 2.6 | 25.7 | 290.8 | 21.4 | 340.5 |
(\u20ac million) | Development costs | Software | Purchased technology | Other intangibles | Total |
At cost | |||||
Balance January 1, 2024 | 664.0 | 55.7 | 219.6 | 90.8 | 1,030.0 |
Additions | 166.3 | 30.1 | - | 0.4 | 196.8 |
Disposals | - | (0.9) | - | - | (0.9) |
Derecognition | (103.3) | - | - | - | (103.3) |
Foreign currency translation effect | (0.9) | 1.5 | 1.4 | (0.1) | 1.9 |
Balance December 31, 2024 | 726.2 | 86.5 | 220.9 | 91.1 | 1,124.7 |
Acquisitions through business combinations | - | - | 32.9 | 32.9 | 65.8 |
Additions | 205.1 | 44.5 | - | 0.3 | 249.8 |
Disposals | - | (1.4) | (1.9) | (0.1) | (3.4) |
Derecognition | (117.2) | - | - | - | (117.2) |
Foreign currency translation effect | - | (5.2) | (3.5) | (0.4) | (9.1) |
Balance December 31, 2025 | 814.1 | 124.4 | 248.4 | 123.8 | 1,310.6 |
Accumulated amortization and impairment losses | |||||
Balance January 1, 2024 | 239.7 | 33.3 | 27.2 | 24.2 | 324.4 |
Amortization for the year | 65.9 | 3.5 | 14.1 | 4.9 | 88.3 |
Impairments | 0.4 | - | - | - | 0.4 |
Derecognition | (103.3) | - | - | - | (103.3) |
Disposals | - | (0.9) | - | - | (0.9) |
Foreign currency translation effect | (0.2) | 0.2 | 0.2 | (0.1) | - |
Balance December 31, 2024 | 202.6 | 36.1 | 41.5 | 29.0 | 309.1 |
Amortization for the year | 92.4 | 6.0 | 14.0 | 5.2 | 117.6 |
Impairments | 9.7 | - | - | - | 9.7 |
Derecognition | (117.2) | - | - | - | (117.2) |
Disposals | - | (1.0) | (1.9) | (0.1) | (3.0) |
Foreign currency translation effect | - | (0.8) | (0.9) | 0.1 | (1.6) |
Balance December 31, 2025 | 187.5 | 40.3 | 52.7 | 34.1 | 314.7 |
Carrying amounts | |||||
December 31, 2024 | 523.6 | 50.4 | 179.5 | 62.1 | 815.6 |
December 31, 2025 | 626.6 | 84.1 | 195.7 | 89.6 | 995.9 |
(\u20ac million) | Development costs | Software | Purchased technology | Other intangibles | Total | ||
2025 (actual) | 92.4 | - | 92.4 | 6.0 | 14.0 | 5.2 | 117.6 |
Estimated | Amortization started (\"in use\") | Future amortization start date (\"in development\") | Total expected amortization | ||||
2026 | 84.2 | 18.0 | 102.2 | 10.4 | 16.1 | 7.5 | 136.3 |
2027 | 75.8 | 46.5 | 122.3 | 9.3 | 16.1 | 6.8 | 154.5 |
2028 | 63.5 | 69.5 | 133.0 | 8.6 | 16.1 | 6.8 | 164.4 |
2029 | 35.8 | 72.8 | 108.6 | 8.4 | 16.1 | 6.6 | 139.7 |
2030 | 1.9 | 73.0 | 75.0 | 8.4 | 16.1 | 6.0 | 105.4 |
Years thereafter | - | 85.5 | 85.5 | 39.0 | 115.1 | 56.0 | 295.6 |
261.2 | 365.3 | 626.6 | 84.1 | 195.7 | 89.6 | 995.9 |
% Ownership December\u00a031, | |||
2025 | 2024 | ||
Name | Location | ||
Associates | |||
Levitech BV | Almere,\u00a0the\u00a0Netherlands | 26.64% | 26.64% |
SiC systems AB | Lunds Kommun, Sweden | 50.00% | 50.00% |
ASMPT Ltd | Singapore | 24.65% | 24.73% |
ASMPT | Other | Total | ||||
(\u20ac million) | Net equity share | Other (in)tangible assets | Goodwill | Total ASMPT | Net equity share | |
Balance January 1, 2024 | 455.0 | 3.4 | 403.0 | 861.4 | 0.5 | 861.9 |
Reversal of impairments of investments in associates, net | - | - | - | - | - | - |
Share in net earnings of investments in associates | 10.0 | - | 10.0 | - | 10.0 | |
Other comprehensive income of investments in associates | (1.3) | - | (1.3) | - | (1.3) | |
Amortization recognized intangible assets | - | (0.4) | (0.4) | - | (0.4) | |
Dividends | (13.7) | - | (13.7) | - | (13.7) | |
Dilution ASMPT share to 24.73% | 3.5 | - | 3.5 | - | 3.5 | |
Foreign currency translation effect | 15.2 | 0.2 | 28.1 | 43.5 | - | 43.5 |
Balance December 31, 2024 | 468.7 | 3.3 | 431.1 | 903.1 | 0.5 | 903.6 |
Reversal of impairments of investments in associates, net | - | - | - | - | - | - |
Share in net earnings of investments in associates | 25.1 | - | - | 25.1 | - | 25.1 |
Other comprehensive income of investments in associates | 1.0 | - | - | 1.0 | - | 1.0 |
Amortization recognized intangible assets | - | (0.4) | - | (0.4) | - | (0.4) |
Dividends | (6.7) | - | - | (6.7) | - | (6.7) |
Dilution ASMPT share to 24.65% | 0.6 | - | - | 0.6 | - | 0.6 |
Foreign currency translation effect | (27.1) | (0.4) | (50.8) | (78.3) | - | (78.3) |
Balance December 31, 2025 | 461.7 | 2.5 | 380.3 | 844.6 | 0.5 | 845.1 |
(\u20ac million) | 2025 | 2024 |
Revenues | 1,551.5 | 1,558.6 |
Income before income tax | 137.3 | 59.1 |
Net earnings from continuing operations | 122.6 | 40.3 |
Net earnings from discontinued operations | (20.7) | - |
Other comprehensive income | 122.9 | (67.7) |
Total comprehensive income | 225.0 | (28.0) |
Groups share in net earnings 24.65% (2024: 24.73%) | 25.1 | 9.9 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Current assets | 1,893.2 | 1,876.5 |
Non-current assets | 945.9 | 1,066.5 |
Current liabilities | 513.5 | 506.2 |
Non-current liabilities | 452.8 | 535.8 |
Total equity | 1,872.7 | 1,900.9 |
Groups share in equity 24.65% (2024: 24.73%) | 461.7 | 468.6 |
% Ownership December\u00a031, | |||
2025 | 2024 | ||
Name | Location | ||
Associates | |||
Levitech BV | Almere,\u00a0the\u00a0Netherlands | 26.64% | 26.64% |
SiC systems AB | Lunds Kommun, Sweden | 50.00% | 50.00% |
ASMPT Ltd | Singapore | 24.65% | 24.73% |
ASMPT | Other | Total | ||||
(\u20ac million) | Net equity share | Other (in)tangible assets | Goodwill | Total ASMPT | Net equity share | |
Balance January 1, 2024 | 455.0 | 3.4 | 403.0 | 861.4 | 0.5 | 861.9 |
Reversal of impairments of investments in associates, net | - | - | - | - | - | - |
Share in net earnings of investments in associates | 10.0 | - | 10.0 | - | 10.0 | |
Other comprehensive income of investments in associates | (1.3) | - | (1.3) | - | (1.3) | |
Amortization recognized intangible assets | - | (0.4) | (0.4) | - | (0.4) | |
Dividends | (13.7) | - | (13.7) | - | (13.7) | |
Dilution ASMPT share to 24.73% | 3.5 | - | 3.5 | - | 3.5 | |
Foreign currency translation effect | 15.2 | 0.2 | 28.1 | 43.5 | - | 43.5 |
Balance December 31, 2024 | 468.7 | 3.3 | 431.1 | 903.1 | 0.5 | 903.6 |
Reversal of impairments of investments in associates, net | - | - | - | - | - | - |
Share in net earnings of investments in associates | 25.1 | - | - | 25.1 | - | 25.1 |
Other comprehensive income of investments in associates | 1.0 | - | - | 1.0 | - | 1.0 |
Amortization recognized intangible assets | - | (0.4) | - | (0.4) | - | (0.4) |
Dividends | (6.7) | - | - | (6.7) | - | (6.7) |
Dilution ASMPT share to 24.65% | 0.6 | - | - | 0.6 | - | 0.6 |
Foreign currency translation effect | (27.1) | (0.4) | (50.8) | (78.3) | - | (78.3) |
Balance December 31, 2025 | 461.7 | 2.5 | 380.3 | 844.6 | 0.5 | 845.1 |
(\u20ac million) | 2025 | 2024 |
Revenues | 1,551.5 | 1,558.6 |
Income before income tax | 137.3 | 59.1 |
Net earnings from continuing operations | 122.6 | 40.3 |
Net earnings from discontinued operations | (20.7) | - |
Other comprehensive income | 122.9 | (67.7) |
Total comprehensive income | 225.0 | (28.0) |
Groups share in net earnings 24.65% (2024: 24.73%) | 25.1 | 9.9 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Current assets | 1,893.2 | 1,876.5 |
Non-current assets | 945.9 | 1,066.5 |
Current liabilities | 513.5 | 506.2 |
Non-current liabilities | 452.8 | 535.8 |
Total equity | 1,872.7 | 1,900.9 |
Groups share in equity 24.65% (2024: 24.73%) | 461.7 | 468.6 |
% Ownership December\u00a031, | |||
2025 | 2024 | ||
Name | Location | ||
Associates | |||
Levitech BV | Almere,\u00a0the\u00a0Netherlands | 26.64% | 26.64% |
SiC systems AB | Lunds Kommun, Sweden | 50.00% | 50.00% |
ASMPT Ltd | Singapore | 24.65% | 24.73% |
ASMPT | Other | Total | ||||
(\u20ac million) | Net equity share | Other (in)tangible assets | Goodwill | Total ASMPT | Net equity share | |
Balance January 1, 2024 | 455.0 | 3.4 | 403.0 | 861.4 | 0.5 | 861.9 |
Reversal of impairments of investments in associates, net | - | - | - | - | - | - |
Share in net earnings of investments in associates | 10.0 | - | 10.0 | - | 10.0 | |
Other comprehensive income of investments in associates | (1.3) | - | (1.3) | - | (1.3) | |
Amortization recognized intangible assets | - | (0.4) | (0.4) | - | (0.4) | |
Dividends | (13.7) | - | (13.7) | - | (13.7) | |
Dilution ASMPT share to 24.73% | 3.5 | - | 3.5 | - | 3.5 | |
Foreign currency translation effect | 15.2 | 0.2 | 28.1 | 43.5 | - | 43.5 |
Balance December 31, 2024 | 468.7 | 3.3 | 431.1 | 903.1 | 0.5 | 903.6 |
Reversal of impairments of investments in associates, net | - | - | - | - | - | - |
Share in net earnings of investments in associates | 25.1 | - | - | 25.1 | - | 25.1 |
Other comprehensive income of investments in associates | 1.0 | - | - | 1.0 | - | 1.0 |
Amortization recognized intangible assets | - | (0.4) | - | (0.4) | - | (0.4) |
Dividends | (6.7) | - | - | (6.7) | - | (6.7) |
Dilution ASMPT share to 24.65% | 0.6 | - | - | 0.6 | - | 0.6 |
Foreign currency translation effect | (27.1) | (0.4) | (50.8) | (78.3) | - | (78.3) |
Balance December 31, 2025 | 461.7 | 2.5 | 380.3 | 844.6 | 0.5 | 845.1 |
(\u20ac million) | 2025 | 2024 |
Revenues | 1,551.5 | 1,558.6 |
Income before income tax | 137.3 | 59.1 |
Net earnings from continuing operations | 122.6 | 40.3 |
Net earnings from discontinued operations | (20.7) | - |
Other comprehensive income | 122.9 | (67.7) |
Total comprehensive income | 225.0 | (28.0) |
Groups share in net earnings 24.65% (2024: 24.73%) | 25.1 | 9.9 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Current assets | 1,893.2 | 1,876.5 |
Non-current assets | 945.9 | 1,066.5 |
Current liabilities | 513.5 | 506.2 |
Non-current liabilities | 452.8 | 535.8 |
Total equity | 1,872.7 | 1,900.9 |
Groups share in equity 24.65% (2024: 24.73%) | 461.7 | 468.6 |
Subsidiaries (consolidated) | % Ownership December\u00a031, | ||
2025 | 2024 | ||
Name | Location | ||
ASM Europe B.V. 1 | Almere,\u00a0the\u00a0Netherlands | 100% | 100% |
ASM IP Holding B.V. 1 | Almere,\u00a0the\u00a0Netherlands | 100% | 100% |
ASM Pacific Holding B.V. 1,2 | Almere, the Netherlands | 100% | 100% |
ASM Netherlands Holding B.V. 1 | Almere,\u00a0the\u00a0Netherlands | 100% | 100% |
ASM United Kingdom Sales B.V. 1 | Almere, the Netherlands | 100% | 100% |
ASM Germany Sales B.V. 1 | Almere, the Netherlands | 100% | 100% |
ASM Czech s.r.o. | Nov\u00e9 M\u011bsto, Czech Republic | 100% | 100% |
LPE S.p.A. 3 | Baranzate, Italy | 100% | 100% |
Pilegrowth Tech S.r.l. | Cernobbio, Italy | 100% | 100% |
LPE Shanghai Int. Trading Co. | Shanghai, China | 100% | 100% |
ASM France S.A.R.L. | Crolles, France | 100% | 100% |
ASM Italia S.r.l. | Milano, Italy | 100% | 100% |
ASM Belgium N.V. | Leuven, Belgium | 100% | 100% |
ASM Services and Support Ireland Ltd. | Dublin, Ireland | 100% | 100% |
ASM Services and Support Israel Ltd. | Kiryat Gat, Israel | 100% | 100% |
ASM Microchemistry Oy | Helsinki, Finland | 100% | 100% |
ASM America Inc. | Phoenix, Arizona, United States of America | 100% | 100% |
ASM NuTool Inc. | Phoenix, Arizona, United States of America | 100% | 100% |
ASM Japan KK | Tokyo, Japan | 100% | 100% |
ASM Wafer Process Equipment Singapore Pte\u00a0Ltd | Singapore | 100% | 100% |
ASM Front-End Manufacturing Singapore Pte\u00a0Ltd | Singapore | 100% | 100% |
ASM Services & Support Malaysia SDN. BHD. | Kulim, Malaysia | 100% | 100% |
ASM Korea Ltd. | Dongtan, South Korea | 100% | 100% |
ASM Front-End Sales\u00a0& Services Taiwan Co\u00a0Ltd. | Hsin-Chu, Taiwan | 100% | 100% |
ASM Semiconductor Equipment India Private Limited | Bangalore, India | 100% | 100% |
ASM China Ltd | Shanghai, People\u2019s Republic of China | 100% | 100% |
\u00a0 | December 31, | |
(\u20ac million) | 2025 | 2024 |
Components and raw materials | 492.4 | 426.0 |
Work in progress | 80.0 | 131.3 |
Finished goods | 87.4 | 96.8 |
Total inventories, gross | 659.8 | 654.1 |
Allowance for obsolescence | (107.7) | (87.1) |
Total inventories, net | 552.1 | 567.0 |
December 31, | |||
(\u20ac million) | 2025 | 2024 | |
Balance at beginning of year | (87.1) | (40.8) | |
Acquisitions through business combinations | - | - | |
Additions | (39.9) | (62.3) | |
Reversals | 11.7 | 14.6 | |
Utilization of the provision | 3.3 | 2.5 | |
Foreign currency translation effect | 4.3 | (1.2) | |
Balance at end of year | (107.7) | (87.1) |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Current | 505.9 | 681.9 |
Overdue <30 days | 9.3 | 47.6 |
Overdue 31-60 days | 16.7 | 18.2 |
Overdue 61-120 days | 12.8 | 19.3 |
Overdue >120 days | 17.4 | 21.9 |
Total | 562.1 | 789.0 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Balance at beginning of year | (1.0) | (1.5) |
Charged to selling, general and administrative expenses | 0.1 | (0.4) |
Utilization of the provision | - | 0.9 |
Balance at end of year | (0.9) | (1.0) |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Current | 505.9 | 681.9 |
Overdue <30 days | 9.3 | 47.6 |
Overdue 31-60 days | 16.7 | 18.2 |
Overdue 61-120 days | 12.8 | 19.3 |
Overdue >120 days | 17.4 | 21.9 |
Total | 562.1 | 789.0 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Balance at beginning of year | (1.0) | (1.5) |
Charged to selling, general and administrative expenses | 0.1 | (0.4) |
Utilization of the provision | - | 0.9 |
Balance at end of year | (0.9) | (1.0) |
\u00a0 | December 31, | |||||||
\u00a0 | 2025 | 2024 | ||||||
(million) | USD | JPY | KRW | SGD | USD | JPY | KRW | SGD |
Accounts receivable | 559.9 | 2,685.1 | 11,040.7 | 0.8 | 715.1 | 2,032.6 | 9,863.8 | 0.5 |
Cash and cash equivalents | 682.0 | 3,681.3 | 36,620.5 | 24.3 | 538.1 | 146.7 | 12,805.9 | 28.9 |
Accounts payable | (121.5) | (3,646.8) | (29,910.3) | (79.9) | (182.8) | (3,148.8) | (40,305.1) | (47.1) |
Total in respective currencies | 1,120.4 | 2,719.6 | 17,750.9 | (54.9) | 1,070.3 | (969.5) | (17,635.4) | (17.7) |
Total in EUR using 31 December exchange rates | 953.6 | 14.7 | 10.7 | (36.3) | 1,030.3 | (5.9) | (12.3) | (12.5) |
Impact on financial instruments | ||
(million) | 2025 | 2024 |
10% increase of US dollar versus euro | 95.4 | 103.0 |
10% decrease of US dollar versus euro | (95.4) | (103.0) |
10% increase of Singapore dollar versus euro | (3.6) | (1.3) |
10% decrease of Singapore dollar versus euro | 3.6 | 1.3 |
10% increase of Korean won versus euro | 1.0 | (1.1) |
10% decrease of Korean won versus euro | (1.0) | 1.1 |
10% increase of Japanese yen versus euro | 1.5 | (0.6) |
10% decrease of Japanese yen versus euro | (1.5) | 0.6 |
Year ended December 31, 2025 | Total | Less\u00a0than 1 year | 1-5 years | More\u00a0than 5 years |
Accounts payable | 214.9 | 214.9 | - | - |
Accrued expenses and other payables | 197.0 | 197.0 | - | - |
Non-current lease liabilities | 19.6 | - | 16.7 | 2.9 |
Contingent consideration payable | 25.2 | 25.2 | ||
Purchase obligations: | ||||
Purchase commitments to suppliers | 560.9 | 532.5 | 16.4 | 12.0 |
Capital expenditure and other commitments | 173.2 | 172.5 | 0.5 | 0.1 |
Total contractual obligations | 1,190.7 | 1,116.9 | 58.9 | 14.9 |
Year ended December 31, 2024 | Total | Less\u00a0than 1 year | 1-5 years | More\u00a0than 5 years |
Accounts payable | 282.6 | 282.6 | - | - |
Accrued expenses and other payables | 235.3 | 235.3 | - | - |
Non-current lease liabilities | 25.0 | - | 21.4 | 3.7 |
Contingent consideration payable | 100.0 | 100.0 | - | - |
Purchase obligations: | ||||
Purchase commitments to suppliers | 616.7 | 523.6 | 93.1 | - |
Capital expenditure and other commitments | 109.1 | 107.6 | 1.5 | - |
Total contractual obligations | 1,368.7 | 1,249.1 | 116.0 | 3.7 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Current | 505.9 | 681.9 |
Overdue <30 days | 9.3 | 47.6 |
Overdue 31-60 days | 16.7 | 18.2 |
Overdue 61-120 days | 12.8 | 19.3 |
Overdue >120 days | 17.4 | 21.9 |
Total | 562.1 | 789.0 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Balance at beginning of year | (1.0) | (1.5) |
Charged to selling, general and administrative expenses | 0.1 | (0.4) |
Utilization of the provision | - | 0.9 |
Balance at end of year | (0.9) | (1.0) |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Current | 505.9 | 681.9 |
Overdue <30 days | 9.3 | 47.6 |
Overdue 31-60 days | 16.7 | 18.2 |
Overdue 61-120 days | 12.8 | 19.3 |
Overdue >120 days | 17.4 | 21.9 |
Total | 562.1 | 789.0 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Balance at beginning of year | (1.0) | (1.5) |
Charged to selling, general and administrative expenses | 0.1 | (0.4) |
Utilization of the provision | - | 0.9 |
Balance at end of year | (0.9) | (1.0) |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Prepayments | 36.7 | 25.9 |
VAT receivable | 34.2 | 29.6 |
Others | 13.8 | 14.7 |
Total | 84.8 | 70.3 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Prepayments | 36.7 | 25.9 |
VAT receivable | 34.2 | 29.6 |
Others | 13.8 | 14.7 |
Total | 84.8 | 70.3 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Prepayments | 36.7 | 25.9 |
VAT receivable | 34.2 | 29.6 |
Others | 13.8 | 14.7 |
Total | 84.8 | 70.3 |
Period | Total number of shares purchased | Average price paid per share (\u20ac) | Cumulative number of shares purchased |
April, 2025 | 4,177 | \u20ac423.50 | 4,177 |
May, 2025 | 63,632 | \u20ac467.15 | 67,809 |
June, 2025 | 55,528 | \u20ac513.38 | 123,337 |
July, 2025 | 199,196 | \u20ac451.81 | 322,533 |
Total | 322,533 | \u20ac465.07 |
Period | Total number of shares purchased | Average price paid per share (\u20ac) | Cumulative number of shares purchased |
May, 2024 | 72,961 | \u20ac653.45 | 72,961 |
June, 2024 | 17,360 | \u20ac654.77 | 90,321 |
July, 2024 | 138,068 | \u20ac658.78 | 228,389 |
Total | 228,389 | \u20ac656.77 |
Number of shares | Treasury shares | Outstanding shares |
Balance at beginning of year | 230,731 | 49,097,817 |
Purchase common shares | 322,533 | (322,533) |
Vesting restricted shares out of treasury shares | (106,265) | 106,265 |
Cancellation treasury shares | - | - |
Balance at end of year | 446,999 | 48,881,549 |
Period | Total number of shares purchased | Average price paid per share (\u20ac) | Cumulative number of shares purchased |
April, 2025 | 4,177 | \u20ac423.50 | 4,177 |
May, 2025 | 63,632 | \u20ac467.15 | 67,809 |
June, 2025 | 55,528 | \u20ac513.38 | 123,337 |
July, 2025 | 199,196 | \u20ac451.81 | 322,533 |
Total | 322,533 | \u20ac465.07 |
Period | Total number of shares purchased | Average price paid per share (\u20ac) | Cumulative number of shares purchased |
May, 2024 | 72,961 | \u20ac653.45 | 72,961 |
June, 2024 | 17,360 | \u20ac654.77 | 90,321 |
July, 2024 | 138,068 | \u20ac658.78 | 228,389 |
Total | 228,389 | \u20ac656.77 |
Number of shares | Treasury shares | Outstanding shares |
Balance at beginning of year | 230,731 | 49,097,817 |
Purchase common shares | 322,533 | (322,533) |
Vesting restricted shares out of treasury shares | (106,265) | 106,265 |
Cancellation treasury shares | - | - |
Balance at end of year | 446,999 | 48,881,549 |
2025 | 2024 | |
As per January 1: | ||
Issued shares | 49,328,548 | 49,428,548 |
Treasury shares | 230,731 | 226,802 |
Outstanding shares | 49,097,817 | 49,201,746 |
Changes during the year: | ||
Share buybacks | 322,533 | 228,389 |
Treasury shares used for share-based performance programs | 106,265 | 124,460 |
Treasury shares used for exercise stock options | - | - |
Issue of common shares used for share-based performance programs | - | - |
Cancellation of treasury shares | - | (100,000) |
As per December 31: | ||
Issued shares | 49,328,548 | 49,328,548 |
Treasury shares | 446,999 | 230,731 |
Outstanding shares | 48,881,549 | 49,097,817 |
(\u20ac million) | Proportionate share in other comprehensive income of investments in associates | Remeasurem ent on net defined benefit | Foreign currency translation reserve | Total other reserves |
Balance January 1, 2024 | 2.3 | 1.1 | 100.6 | 104.0 |
Proportionate share in other comprehensive income of investments in associates | (1.3) | - | - | (1.3) |
Remeasurement on net defined benefit | - | 0.7 | - | 0.7 |
Foreign currency translation effect on foreign operations | - | - | 70.0 | 70.0 |
Balance December 31, 2024 | 1.0 | 1.8 | 170.6 | 173.4 |
Proportionate share in other comprehensive income of investments in associates | 1.0 | - | - | 1.0 |
Remeasurement on net defined benefit | - | 0.6 | - | 0.6 |
Foreign currency translation effect on foreign operations | - | - | (214.7) | (214.7) |
Balance December 31, 2025 | 2.0 | 2.3 | (44.1) | (39.7) |
Period | Total number of shares purchased | Average price paid per share (\u20ac) | Cumulative number of shares purchased |
April, 2025 | 4,177 | \u20ac423.50 | 4,177 |
May, 2025 | 63,632 | \u20ac467.15 | 67,809 |
June, 2025 | 55,528 | \u20ac513.38 | 123,337 |
July, 2025 | 199,196 | \u20ac451.81 | 322,533 |
Total | 322,533 | \u20ac465.07 |
Period | Total number of shares purchased | Average price paid per share (\u20ac) | Cumulative number of shares purchased |
May, 2024 | 72,961 | \u20ac653.45 | 72,961 |
June, 2024 | 17,360 | \u20ac654.77 | 90,321 |
July, 2024 | 138,068 | \u20ac658.78 | 228,389 |
Total | 228,389 | \u20ac656.77 |
Number of shares | Treasury shares | Outstanding shares |
Balance at beginning of year | 230,731 | 49,097,817 |
Purchase common shares | 322,533 | (322,533) |
Vesting restricted shares out of treasury shares | (106,265) | 106,265 |
Cancellation treasury shares | - | - |
Balance at end of year | 446,999 | 48,881,549 |
2025 | 2024 | |
As per January 1: | ||
Issued shares | 49,328,548 | 49,428,548 |
Treasury shares | 230,731 | 226,802 |
Outstanding shares | 49,097,817 | 49,201,746 |
Changes during the year: | ||
Share buybacks | 322,533 | 228,389 |
Treasury shares used for share-based performance programs | 106,265 | 124,460 |
Treasury shares used for exercise stock options | - | - |
Issue of common shares used for share-based performance programs | - | - |
Cancellation of treasury shares | - | (100,000) |
As per December 31: | ||
Issued shares | 49,328,548 | 49,328,548 |
Treasury shares | 446,999 | 230,731 |
Outstanding shares | 48,881,549 | 49,097,817 |
(\u20ac million) | Proportionate share in other comprehensive income of investments in associates | Remeasurem ent on net defined benefit | Foreign currency translation reserve | Total other reserves |
Balance January 1, 2024 | 2.3 | 1.1 | 100.6 | 104.0 |
Proportionate share in other comprehensive income of investments in associates | (1.3) | - | - | (1.3) |
Remeasurement on net defined benefit | - | 0.7 | - | 0.7 |
Foreign currency translation effect on foreign operations | - | - | 70.0 | 70.0 |
Balance December 31, 2024 | 1.0 | 1.8 | 170.6 | 173.4 |
Proportionate share in other comprehensive income of investments in associates | 1.0 | - | - | 1.0 |
Remeasurement on net defined benefit | - | 0.6 | - | 0.6 |
Foreign currency translation effect on foreign operations | - | - | (214.7) | (214.7) |
Balance December 31, 2025 | 2.0 | 2.3 | (44.1) | (39.7) |
\u00a0 | December 31, | |
(\u20ac million) | 2025 | 2024 |
Defined benefit obligations | 5.6 | 8.3 |
Fair value of plan assets | 10.9 | 12.1 |
Net liability (asset) for defined benefit plans | (5.2) | (3.8) |
\u00a0 | December 31, | |
(million) | 2025 | 2024 |
Wages and salaries | 486.0 | 496.1 |
Social security | 40.7 | 39.3 |
Pension expenses | 17.9 | 18.8 |
Share-based payment expenses | 47.2 | 41.0 |
Total | 591.9 | 595.3 |
\u00a0 | December 31, | |
(\u20ac million) | 2025 | 2024 |
Defined benefit obligations | 5.6 | 8.3 |
Fair value of plan assets | 10.9 | 12.1 |
Net liability (asset) for defined benefit plans | (5.2) | (3.8) |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Balance January 1 | 33.4 | 22.7 |
Additions | 55.8 | 41.5 |
Utilization | (26.5) | (25.3) |
Releases of expired warranty | (12.8) | (6.3) |
Foreign currency translation effect | (4.9) | 0.8 |
Balance December 31 | 45.0 | 33.4 |
Status | Number of performance shares | Number of restricted shares | Fair value at grant date (weighted average) | |
Balance January 1, 2024 | 32,999 | 236,437 | ||
Shares granted, employees | Unconditional | - | 80,896 | \u20ac579.25 |
Shares granted, employees | Conditional | 4,461 | - | \u20ac584.53 |
Shares granted, Management Board and ExCo | Conditional | 9,001 | - | \u20ac581.81 |
Shares granted, Management Board | Unconditional | 2,358 | - | \u20ac260.33 |
Shares vested | (16,384) | (108,076) | ||
Shares forfeited | (644) | (20,038) | ||
Balance December 31, 2024 | 31,791 | 189,219 | ||
Shares granted, employees | Unconditional | - | 118,611 | \u20ac426.21 |
Shares granted, employees | Conditional | - | - | |
Shares granted, Management Board and ExCo | Conditional | 12,976 | - | \u20ac416.35 |
Shares granted, Management Board and ExCo | Unconditional | 2,183 | - | \u20ac313.72 |
Shares vested | (8,034) | (98,226) | ||
Shares forfeited | (4,405) | (19,559) | ||
Balance December 31, 2025 | 34,511 | 190,045 |
December 31, | ||
(\u20ac million) | 2025 | 2024 |
Balance January 1 | 33.4 | 22.7 |
Additions | 55.8 | 41.5 |
Utilization | (26.5) | (25.3) |
Releases of expired warranty | (12.8) | (6.3) |
Foreign currency translation effect | (4.9) | 0.8 |
Balance December 31 | 45.0 | 33.4 |
\u00a0 | December\u00a031, | |
(\u20ac million) | 2025 | 2024 |
Personnel-related items | 122.2 | 164.7 |
Current lease liabilities | 13.9 | 11.7 |
Supplier-related items | 32.4 | 32.5 |
Other | 28.4 | 26.4 |
Total accrued expenses and other payables | 197.0 | 235.3 |
\u00a0 | December\u00a031, | |
(\u20ac million) | 2025 | 2024 |
Personnel-related items | 122.2 | 164.7 |
Current lease liabilities | 13.9 | 11.7 |
Supplier-related items | 32.4 | 32.5 |
Other | 28.4 | 26.4 |
Total accrued expenses and other payables | 197.0 | 235.3 |
Year ended December 31, 2025 | Financial assets / liabilities at fair value through profit or loss 1 | Financial assets as amortized costs | Other financial liabilities | Total |
Financial assets: | ||||
Cash and cash equivalents | 735.1 | 291.8 | - | 1,026.9 |
Accounts receivable | - | 562.1 | - | 562.1 |
Financial liabilities: | ||||
Accrued expenses and other liabilities | - | - | 239.0 | 239.0 |
Contingent consideration payable | 18.4 | - | - | 18.4 |
Accounts payable | - | - | 214.9 | 214.9 |
Year ended December 31, 2024 | Financial assets/ liabilities at fair value through profit or loss 1 | Financial assets as amortized costs | Other financial liabilities | Total |
Financial assets: | ||||
Cash and cash equivalents | 471.8 | 454.7 | - | 926.5 |
Accounts receivable | - | 789.0 | - | 789.0 |
Financial liabilities: | ||||
Accrued expenses and other liabilities | - | - | 258.9 | 258.9 |
Contingent consideration payable | 97.0 | - | - | 97.0 |
Accounts payable | - | - | 282.6 | 282.6 |
Year ended December 31, 2025 | Financial assets / liabilities at fair value through profit or loss 1 | Financial assets as amortized costs | Other financial liabilities | Total |
Financial assets: | ||||
Cash and cash equivalents | 735.1 | 291.8 | - | 1,026.9 |
Accounts receivable | - | 562.1 | - | 562.1 |
Financial liabilities: | ||||
Accrued expenses and other liabilities | - | - | 239.0 | 239.0 |
Contingent consideration payable | 18.4 | - | - | 18.4 |
Accounts payable | - | - | 214.9 | 214.9 |
Year ended December 31, 2024 | Financial assets/ liabilities at fair value through profit or loss 1 | Financial assets as amortized costs | Other financial liabilities | Total |
Financial assets: | ||||
Cash and cash equivalents | 471.8 | 454.7 | - | 926.5 |
Accounts receivable | - | 789.0 | - | 789.0 |
Financial liabilities: | ||||
Accrued expenses and other liabilities | - | - | 258.9 | 258.9 |
Contingent consideration payable | 97.0 | - | - | 97.0 |
Accounts payable | - | - | 282.6 | 282.6 |
(\u20ac million) | 2025 | 2024 |
Interest income | 53.1 | 21.7 |
Interest expense | (0.9) | (1.9) |
Change in fair value of contingent consideration | (3.0) | (8.7) |
Result from foreign currency exchange | (83.7) | 45.0 |
Addition to allowance for doubtful accounts receivable | 0.1 | (0.4) |
(\u20ac million) | 2025 | 2024 |
Interest income | 53.1 | 21.7 |
Interest expense | (0.9) | (1.9) |
Change in fair value of contingent consideration | (3.0) | (8.7) |
Result from foreign currency exchange | (83.7) | 45.0 |
Addition to allowance for doubtful accounts receivable | 0.1 | (0.4) |
(\u20ac million) | 2025 | 2024 |
Interest income | 53.1 | 21.7 |
Interest expense | (0.9) | (1.9) |
Change in fair value of contingent consideration | (3.0) | (8.7) |
Result from foreign currency exchange | (83.7) | 45.0 |
Addition to allowance for doubtful accounts receivable | 0.1 | (0.4) |
(\u20ac million) | 2025 | 2024 |
Interest income | 53.1 | 21.7 |
Interest expense | (0.9) | (1.9) |
Change in fair value of contingent consideration | (3.0) | (8.7) |
Result from foreign currency exchange | (83.7) | 45.0 |
Addition to allowance for doubtful accounts receivable | 0.1 | (0.4) |
(\u20ac million) | 2025 | 2024 |
Interest income | 53.1 | 21.7 |
Interest expense | (0.9) | (1.9) |
Change in fair value of contingent consideration | (3.0) | (8.7) |
Result from foreign currency exchange | (83.7) | 45.0 |
Addition to allowance for doubtful accounts receivable | 0.1 | (0.4) |
(\u20ac million) | 2025 | 2024 |
Interest income | 53.1 | 21.7 |
Interest expense | (0.9) | (1.9) |
Change in fair value of contingent consideration | (3.0) | (8.7) |
Result from foreign currency exchange | (83.7) | 45.0 |
Addition to allowance for doubtful accounts receivable | 0.1 | (0.4) |
\u00a0 | December 31, | |||||||
\u00a0 | 2025 | 2024 | ||||||
(million) | USD | JPY | KRW | SGD | USD | JPY | KRW | SGD |
Accounts receivable | 559.9 | 2,685.1 | 11,040.7 | 0.8 | 715.1 | 2,032.6 | 9,863.8 | 0.5 |
Cash and cash equivalents | 682.0 | 3,681.3 | 36,620.5 | 24.3 | 538.1 | 146.7 | 12,805.9 | 28.9 |
Accounts payable | (121.5) | (3,646.8) | (29,910.3) | (79.9) | (182.8) | (3,148.8) | (40,305.1) | (47.1) |
Total in respective currencies | 1,120.4 | 2,719.6 | 17,750.9 | (54.9) | 1,070.3 | (969.5) | (17,635.4) | (17.7) |
Total in EUR using 31 December exchange rates | 953.6 | 14.7 | 10.7 | (36.3) | 1,030.3 | (5.9) | (12.3) | (12.5) |
Impact on financial instruments | ||
(million) | 2025 | 2024 |
10% increase of US dollar versus euro | 95.4 | 103.0 |
10% decrease of US dollar versus euro | (95.4) | (103.0) |
10% increase of Singapore dollar versus euro | (3.6) | (1.3) |
10% decrease of Singapore dollar versus euro | 3.6 | 1.3 |
10% increase of Korean won versus euro | 1.0 | (1.1) |
10% decrease of Korean won versus euro | (1.0) | 1.1 |
10% increase of Japanese yen versus euro | 1.5 | (0.6) |
10% decrease of Japanese yen versus euro | (1.5) | 0.6 |
\u00a0 | Year ended December 31, | |||
2025 | 2024 | |||
(million) | Revenue | Non-current assets 1 | Revenue | Non-current assets 1 |
United States | 486.9 | 544.9 | 628.5 | 346.6 |
Europe | 142.2 | 1,200.3 | 169.2 | 1,119.8 |
Asia | 2,544.1 | 333.0 | 2,135.0 | 318.0 |
Total | 3,173.2 | 2,078.3 | 2,932.7 | 1,784.4 |
1 Other than financial instruments, deferred tax assets and post-employment benefit assets |
Year ended December 31, 2025 | Total | Less\u00a0than 1 year | 1-5 years | More\u00a0than 5 years |
Accounts payable | 214.9 | 214.9 | - | - |
Accrued expenses and other payables | 197.0 | 197.0 | - | - |
Non-current lease liabilities | 19.6 | - | 16.7 | 2.9 |
Contingent consideration payable | 25.2 | 25.2 | ||
Purchase obligations: | ||||
Purchase commitments to suppliers | 560.9 | 532.5 | 16.4 | 12.0 |
Capital expenditure and other commitments | 173.2 | 172.5 | 0.5 | 0.1 |
Total contractual obligations | 1,190.7 | 1,116.9 | 58.9 | 14.9 |
Year ended December 31, 2024 | Total | Less\u00a0than 1 year | 1-5 years | More\u00a0than 5 years |
Accounts payable | 282.6 | 282.6 | - | - |
Accrued expenses and other payables | 235.3 | 235.3 | - | - |
Non-current lease liabilities | 25.0 | - | 21.4 | 3.7 |
Contingent consideration payable | 100.0 | 100.0 | - | - |
Purchase obligations: | ||||
Purchase commitments to suppliers | 616.7 | 523.6 | 93.1 | - |
Capital expenditure and other commitments | 109.1 | 107.6 | 1.5 | - |
Total contractual obligations | 1,368.7 | 1,249.1 | 116.0 | 3.7 |
\u00a0 | Year ended December 31, | |
2025 | 2024 | |
(million) | Revenue | Revenue |
United States | 486.9 | 628.5 |
Europe | 142.2 | 169.2 |
Asia | 2,544.1 | 2,135.0 |
Total | 3,173.2 | 2,932.7 |
\u00a0 | Year ended December 31, | |
(million) | 2025 | 2024 1 |
Equipment revenue | 2,457.5 | 2,303.3 |
Spares & Services revenue | 715.7 | 629.4 |
Total | 3,173.2 | 2,932.7 |
(million) | 2025 | 2024 |
Contract assets (current) | 110.2 | 57.7 |
Contract Liabilities | 505.8 | 485.7 |
\u00a0 | Year ended December 31, | |
2025 | 2024 | |
(million) | Revenue | Revenue |
United States | 486.9 | 628.5 |
Europe | 142.2 | 169.2 |
Asia | 2,544.1 | 2,135.0 |
Total | 3,173.2 | 2,932.7 |
\u00a0 | Year ended December 31, | |
(million) | 2025 | 2024 1 |
Equipment revenue | 2,457.5 | 2,303.3 |
Spares & Services revenue | 715.7 | 629.4 |
Total | 3,173.2 | 2,932.7 |
(million) | 2025 | 2024 |
Contract assets (current) | 110.2 | 57.7 |
Contract Liabilities | 505.8 | 485.7 |
\u00a0 | Year ended December 31, | |
(million) | 2025 | 2024 |
Current: | ||
Current tax expense | (160.6) | (156.7) |
Pillar Two Global minimum tax | (22.6) | (18.8) |
Prior year benefit (expense) | (13.2) | 3.3 |
(196.4) | (172.2) | |
Deferred: | ||
Origination and reversal of tax losses, tax credits and temporary differences | (7.3) | (7.7) |
Prior year benefit (expense) | 2.4 | (2.2) |
(4.8) | (10.0) |
\u00a0 | Year ended December 31, | |||
(million) | 2025 | 2024 | ||
Result before income taxes from continuing operations | 924.9 | 100.0% | 867.9 | 100.0% |
Income tax provision based on Dutch statutory income tax rate | (238.6) | 25.8% | (223.9) | 25.8% |
Non-deductible expenses | (6.1) | 0.7% | (6.3) | 0.7% |
Foreign taxes at a rate other than the Dutch statutory rate | 25.6 | (2.8)% | 25.0 | (2.9)% |
Tax incentives and non-taxable income 1 | 41.3 | (4.5)% | 35.9 | (4.1)% |
Prior year tax adjustments | (10.8) | 1.2% | 1.1 | (0.1)% |
Non-taxable income from investments in associates 2 | 6.4 | (0.7)% | 2.6 | (0.3)% |
Pillar Two Global Minimum Tax | (22.6) | 2.4% | (18.8) | 2.2% |
Other | 3.6 | (0.4)% | 2.4 | (0.3)% |
Tax income (expense) | (201.2) | 21.8% | (182.2) | 21.0% |
(million) | Net balance at January 1, 2025 | Consolidated statement of profit and loss | Other | Net balance at December 31, 2025 | Deferred tax assets at December 31, 2025 | Deferred tax liabilities at December 31, 2025 |
Right-of-use assets & lease liabilities | 0.8 | (0.3) | (0.1) | 0.5 | 0.5 | - |
Property plant and equipment | (20.3) | (4.7) | 2.4 | (22.7) | 0.8 | (23.5) |
Other intangible assets | (201.0) | (20.8) | 0.3 | (221.5) | - | (221.5) |
Evaluation tools | 5.6 | 4.0 | (0.9) | 8.7 | 8.7 | - |
Employee benefits | 25.1 | 1.1 | (4.3) | 21.9 | 21.9 | - |
Inventories | 16.7 | 5.0 | (0.8) | 20.9 | 20.9 | - |
Provision for warranty | 6.9 | 4.8 | (1.1) | 10.5 | 10.5 | - |
Accrued expenses | 6.8 | 7.0 | (1.3) | 12.5 | 16.1 | (3.6) |
Tax losses carried forward | 3.2 | (0.8) | (0.2) | 2.1 | 2.1 | - |
R&D tax credits | - | - | - | - | - | - |
Set-off deferred taxes | - | - | - | - | (41.1) | 41.1 |
Total deferred tax | (156.3) | (4.8) | (5.9) | (167.0) | 40.4 | (207.5) |
(million) | Net balance at January 1, 2024 | Consolidated statement of profit and loss | Other | Net balance at December 31, 2024 | Deferred tax assets at December 31, 2024 | Deferred tax liabilities at December 31, 2024 |
Right-of-use assets & lease liabilities | 0.3 | 0.5 | - | 0.8 | 0.8 | - |
Property plant and equipment | (3.2) | (16.7) | (0.4) | (20.3) | 0.3 | (20.6) |
Other intangible assets | (179.7) | (21.2) | (0.1) | (201.0) | - | (201.0) |
Evaluation tools | 1.9 | 3.6 | 0.1 | 5.6 | 5.7 | - |
Employee benefits | 4.4 | 17.4 | 3.3 | 25.1 | 25.1 | - |
Inventories | 6.0 | 10.4 | 0.4 | 16.7 | 16.7 | - |
Provision for warranty | 4.4 | 2.3 | 0.1 | 6.9 | 6.9 | - |
Accrued expenses | 10.0 | (3.4) | 0.1 | 6.8 | 9.7 | (2.9) |
Tax losses carried forward | 3.7 | (0.6) | 0.1 | 3.2 | 3.2 | - |
R&D tax credits | 2.2 | (2.3) | - | - | - | - |
Set-off deferred taxes | - | - | - | - | (33.6) | 33.6 |
Total deferred tax | (150.0) | (10.0) | 3.6 | (156.3) | 34.7 | (190.9) |
\u00a0 | 2025 | |
(million) | Gross amount | Tax effect |
Credits | 33.4 | 33.4 |
Unrecognized deferred tax assets | 33.4 | 33.4 |
\u00a0 | Year ended December 31, | |
(million) | 2025 | 2024 |
Current: | ||
Current tax expense | (160.6) | (156.7) |
Pillar Two Global minimum tax | (22.6) | (18.8) |
Prior year benefit (expense) | (13.2) | 3.3 |
(196.4) | (172.2) | |
Deferred: | ||
Origination and reversal of tax losses, tax credits and temporary differences | (7.3) | (7.7) |
Prior year benefit (expense) | 2.4 | (2.2) |
(4.8) | (10.0) |
(million) | Net balance at January 1, 2025 | Consolidated statement of profit and loss | Other | Net balance at December 31, 2025 | Deferred tax assets at December 31, 2025 | Deferred tax liabilities at December 31, 2025 |
Right-of-use assets & lease liabilities | 0.8 | (0.3) | (0.1) | 0.5 | 0.5 | - |
Property plant and equipment | (20.3) | (4.7) | 2.4 | (22.7) | 0.8 | (23.5) |
Other intangible assets | (201.0) | (20.8) | 0.3 | (221.5) | - | (221.5) |
Evaluation tools | 5.6 | 4.0 | (0.9) | 8.7 | 8.7 | - |
Employee benefits | 25.1 | 1.1 | (4.3) | 21.9 | 21.9 | - |
Inventories | 16.7 | 5.0 | (0.8) | 20.9 | 20.9 | - |
Provision for warranty | 6.9 | 4.8 | (1.1) | 10.5 | 10.5 | - |
Accrued expenses | 6.8 | 7.0 | (1.3) | 12.5 | 16.1 | (3.6) |
Tax losses carried forward | 3.2 | (0.8) | (0.2) | 2.1 | 2.1 | - |
R&D tax credits | - | - | - | - | - | - |
Set-off deferred taxes | - | - | - | - | (41.1) | 41.1 |
Total deferred tax | (156.3) | (4.8) | (5.9) | (167.0) | 40.4 | (207.5) |
(million) | Net balance at January 1, 2024 | Consolidated statement of profit and loss | Other | Net balance at December 31, 2024 | Deferred tax assets at December 31, 2024 | Deferred tax liabilities at December 31, 2024 |
Right-of-use assets & lease liabilities | 0.3 | 0.5 | - | 0.8 | 0.8 | - |
Property plant and equipment | (3.2) | (16.7) | (0.4) | (20.3) | 0.3 | (20.6) |
Other intangible assets | (179.7) | (21.2) | (0.1) | (201.0) | - | (201.0) |
Evaluation tools | 1.9 | 3.6 | 0.1 | 5.6 | 5.7 | - |
Employee benefits | 4.4 | 17.4 | 3.3 | 25.1 | 25.1 | - |
Inventories | 6.0 | 10.4 | 0.4 | 16.7 | 16.7 | - |
Provision for warranty | 4.4 | 2.3 | 0.1 | 6.9 | 6.9 | - |
Accrued expenses | 10.0 | (3.4) | 0.1 | 6.8 | 9.7 | (2.9) |
Tax losses carried forward | 3.7 | (0.6) | 0.1 | 3.2 | 3.2 | - |
R&D tax credits | 2.2 | (2.3) | - | - | - | - |
Set-off deferred taxes | - | - | - | - | (33.6) | 33.6 |
Total deferred tax | (150.0) | (10.0) | 3.6 | (156.3) | 34.7 | (190.9) |
\u00a0 | 2025 | |
(million) | Gross amount | Tax effect |
Credits | 33.4 | 33.4 |
Unrecognized deferred tax assets | 33.4 | 33.4 |
\u00a0 | Year ended December 31, | |
(million) | 2025 | 2024 |
Materials and supplies | 1,184.2 | 1,141.4 |
Personnel expenses | 591.9 | 595.3 |
Depreciation and amortization | 239.6 | 195.4 |
Impairments | 11.4 | 0.4 |
Other personnel-related expenses | 105.3 | 114.9 |
Professional fees | 50.8 | 49.4 |
Other 1 | 52.0 | 41.3 |
Total cost of sales, selling, general and administrative and research and development expenses | 2,235.2 | 2,138.0 |
\u00a0 | Year ended December 31, | |
(million) | 2025 | 2024 |
Gross research and development expenses | 512.0 | 469.8 |
Capitalization of development expenses | (205.1) | (166.3) |
Amortization of capitalized development expenses | 92.4 | 65.9 |
Total research and development expenses | 399.3 | 369.4 |
Impairment of capitalized development expenses | 9.7 | 0.4 |
Net research and development expenses | 409.0 | 369.8 |
\u00a0 | December 31, | |
(million) | 2025 | 2024 |
Wages and salaries | 486.0 | 496.1 |
Social security | 40.7 | 39.3 |
Pension expenses | 17.9 | 18.8 |
Share-based payment expenses | 47.2 | 41.0 |
Total | 591.9 | 595.3 |
\u00a0 | Year ended December 31, | |
(million) | 2025 | 2024 |
Materials and supplies | 1,184.2 | 1,141.4 |
Personnel expenses | 591.9 | 595.3 |
Depreciation and amortization | 239.6 | 195.4 |
Impairments | 11.4 | 0.4 |
Other personnel-related expenses | 105.3 | 114.9 |
Professional fees | 50.8 | 49.4 |
Other 1 | 52.0 | 41.3 |
Total cost of sales, selling, general and administrative and research and development expenses | 2,235.2 | 2,138.0 |
\u00a0 | Year ended December 31, | |
(million) | 2025 | 2024 |
Gross research and development expenses | 512.0 | 469.8 |
Capitalization of development expenses | (205.1) | (166.3) |
Amortization of capitalized development expenses | 92.4 | 65.9 |
Total research and development expenses | 399.3 | 369.4 |
Impairment of capitalized development expenses | 9.7 | 0.4 |
Net research and development expenses | 409.0 | 369.8 |
\u00a0 | December 31, | |
(million) | 2025 | 2024 |
Wages and salaries | 486.0 | 496.1 |
Social security | 40.7 | 39.3 |
Pension expenses | 17.9 | 18.8 |
Share-based payment expenses | 47.2 | 41.0 |
Total | 591.9 | 595.3 |
\u00a0 | Year ended December 31, | |
(million) | 2025 | 2024 |
Gross research and development expenses | 512.0 | 469.8 |
Capitalization of development expenses | (205.1) | (166.3) |
Amortization of capitalized development expenses | 92.4 | 65.9 |
Total research and development expenses | 399.3 | 369.4 |
Impairment of capitalized development expenses | 9.7 | 0.4 |
Net research and development expenses | 409.0 | 369.8 |
\u00a0 | December\u00a031, | |
Geographical location | 2025 | 2024 |
Europe: | ||
- the Netherlands | 176 | 190 |
- EMEA | 389 | 456 |
United States | 1,426 | 1,337 |
Japan | 325 | 330 |
South Korea | 537 | 493 |
Singapore | 875 | 1,064 |
Asia, other | 791 | 688 |
Total | 4,519 | 4,558 |
December\u00a031, | ||
Per function | 2025 | 2024 |
Research and development | 1,215 | 1,135 |
Manufacturing | 824 | 1,158 |
Marketing and sales | 423 | 405 |
Customer service | 1,615 | 1,392 |
Corporate and support functions | 442 | 468 |
Total | 4,519 | 4,558 |
\u00a0 | December 31, | |
(million, except per share data) | 2025 | 2024 |
Net earnings used for purposes of calculating net income per common share | ||
Net earnings from operations | 723.7 | 685.7 |
Basic weighted average number of shares outstanding during the year | 49.0 | 49.2 |
Effect of dilutive potential common shares from stock options and restricted shares | 0.2 | 0.2 |
Dilutive weighted average number of shares outstanding | 49.2 | 49.4 |
Basic net earnings per share: | ||
from operations | 14.77 | 13.95 |
Diluted net earnings per share: | ||
from operations | 14.70 | 13.89 |
Management Board (excl. Executive Committee) | December 31, | |
(million) | 2025 | 2024 |
Short-term employee benefits | 2.8 | 3.5 |
Post-employment benefits | 0.2 | 0.2 |
Other long-term benefits | - | - |
Termination benefits | - | 10.0 |
Share-based payment | 5.3 | 3.3 |
Total remuneration | 8.4 | 17.0 |
Management Board and the Executive Committee | December 31, | |
(million) | 2025 | 2024 |
Short-term employee benefits | 7.3 | 7.8 |
Post-employment benefits | 0.3 | 0.3 |
Other long-term benefits | - | - |
Termination benefits | \u2014 | 10.0 |
Share-based payment | 8.0 | 6.3 |
Total remuneration | 15.6 | 24.4 |
Management Board (excl. Executive Committee) | December 31, | |
(million) | 2025 | 2024 |
Short-term employee benefits | 2.8 | 3.5 |
Post-employment benefits | 0.2 | 0.2 |
Other long-term benefits | - | - |
Termination benefits | - | 10.0 |
Share-based payment | 5.3 | 3.3 |
Total remuneration | 8.4 | 17.0 |
Management Board and the Executive Committee | December 31, | |
(million) | 2025 | 2024 |
Short-term employee benefits | 7.3 | 7.8 |
Post-employment benefits | 0.3 | 0.3 |
Other long-term benefits | - | - |
Termination benefits | \u2014 | 10.0 |
Share-based payment | 8.0 | 6.3 |
Total remuneration | 15.6 | 24.4 |
Subsidiaries (consolidated) | % Ownership December\u00a031, | ||
2025 | 2024 | ||
Name | Location | ||
ASM Europe B.V. 1 | Almere,\u00a0the\u00a0Netherlands | 100% | 100% |
ASM IP Holding B.V. 1 | Almere,\u00a0the\u00a0Netherlands | 100% | 100% |
ASM Pacific Holding B.V. 1,2 | Almere, the Netherlands | 100% | 100% |
ASM Netherlands Holding B.V. 1 | Almere,\u00a0the\u00a0Netherlands | 100% | 100% |
ASM United Kingdom Sales B.V. 1 | Almere, the Netherlands | 100% | 100% |
ASM Germany Sales B.V. 1 | Almere, the Netherlands | 100% | 100% |
ASM Czech s.r.o. | Nov\u00e9 M\u011bsto, Czech Republic | 100% | 100% |
LPE S.p.A. 3 | Baranzate, Italy | 100% | 100% |
Pilegrowth Tech S.r.l. | Cernobbio, Italy | 100% | 100% |
LPE Shanghai Int. Trading Co. | Shanghai, China | 100% | 100% |
ASM France S.A.R.L. | Crolles, France | 100% | 100% |
ASM Italia S.r.l. | Milano, Italy | 100% | 100% |
ASM Belgium N.V. | Leuven, Belgium | 100% | 100% |
ASM Services and Support Ireland Ltd. | Dublin, Ireland | 100% | 100% |
ASM Services and Support Israel Ltd. | Kiryat Gat, Israel | 100% | 100% |
ASM Microchemistry Oy | Helsinki, Finland | 100% | 100% |
ASM America Inc. | Phoenix, Arizona, United States of America | 100% | 100% |
ASM NuTool Inc. | Phoenix, Arizona, United States of America | 100% | 100% |
ASM Japan KK | Tokyo, Japan | 100% | 100% |
ASM Wafer Process Equipment Singapore Pte\u00a0Ltd | Singapore | 100% | 100% |
ASM Front-End Manufacturing Singapore Pte\u00a0Ltd | Singapore | 100% | 100% |
ASM Services & Support Malaysia SDN. BHD. | Kulim, Malaysia | 100% | 100% |
ASM Korea Ltd. | Dongtan, South Korea | 100% | 100% |
ASM Front-End Sales\u00a0& Services Taiwan Co\u00a0Ltd. | Hsin-Chu, Taiwan | 100% | 100% |
ASM Semiconductor Equipment India Private Limited | Bangalore, India | 100% | 100% |
ASM China Ltd | Shanghai, People\u2019s Republic of China | 100% | 100% |
\u00a0 | 2025 | 2024 | ||||
(thousand) | EY Accountants B.V. | EY network | EY Total | KPMG Accountants N.V. | KPMG network | KPMG Total |
Audit fees | 1,106 | 303 | 1,409 | 1,062 | 326 | 1,388 |
Assurance related fees | 435 | - | 435 | 500 | - | 500 |
Tax fees | - | - | - | - | - | - |
Other fees | 200 | - | 200 | - | - | - |
Total | 1,741 | 303 | 2,044 | 1,562 | 326 | 1,888 |
Subsidiaries (consolidated) | % Ownership December\u00a031, | ||
2025 | 2024 | ||
Name | Location | ||
ASM Europe B.V. 1 | Almere,\u00a0the\u00a0Netherlands | 100% | 100% |
ASM IP Holding B.V. 1 | Almere,\u00a0the\u00a0Netherlands | 100% | 100% |
ASM Pacific Holding B.V. 1,2 | Almere, the Netherlands | 100% | 100% |
ASM Netherlands Holding B.V. 1 | Almere,\u00a0the\u00a0Netherlands | 100% | 100% |
ASM United Kingdom Sales B.V. 1 | Almere, the Netherlands | 100% | 100% |
ASM Germany Sales B.V. 1 | Almere, the Netherlands | 100% | 100% |
ASM Czech s.r.o. | Nov\u00e9 M\u011bsto, Czech Republic | 100% | 100% |
LPE S.p.A. 3 | Baranzate, Italy | 100% | 100% |
Pilegrowth Tech S.r.l. | Cernobbio, Italy | 100% | 100% |
LPE Shanghai Int. Trading Co. | Shanghai, China | 100% | 100% |
ASM France S.A.R.L. | Crolles, France | 100% | 100% |
ASM Italia S.r.l. | Milano, Italy | 100% | 100% |
ASM Belgium N.V. | Leuven, Belgium | 100% | 100% |
ASM Services and Support Ireland Ltd. | Dublin, Ireland | 100% | 100% |
ASM Services and Support Israel Ltd. | Kiryat Gat, Israel | 100% | 100% |
ASM Microchemistry Oy | Helsinki, Finland | 100% | 100% |
ASM America Inc. | Phoenix, Arizona, United States of America | 100% | 100% |
ASM NuTool Inc. | Phoenix, Arizona, United States of America | 100% | 100% |
ASM Japan KK | Tokyo, Japan | 100% | 100% |
ASM Wafer Process Equipment Singapore Pte\u00a0Ltd | Singapore | 100% | 100% |
ASM Front-End Manufacturing Singapore Pte\u00a0Ltd | Singapore | 100% | 100% |
ASM Services & Support Malaysia SDN. BHD. | Kulim, Malaysia | 100% | 100% |
ASM Korea Ltd. | Dongtan, South Korea | 100% | 100% |
ASM Front-End Sales\u00a0& Services Taiwan Co\u00a0Ltd. | Hsin-Chu, Taiwan | 100% | 100% |
ASM Semiconductor Equipment India Private Limited | Bangalore, India | 100% | 100% |
ASM China Ltd | Shanghai, People\u2019s Republic of China | 100% | 100% |