Asmpt Ltd

Good morning and good evening, ladies and gentlemen. I'm Romil, the Group's Head of Investor Relations, and I will be the moderator for today's call. On behalf of ASMPT Limited, let me welcome all of you to the Group's first quarter 2023 investor conference call, and I would like to thank you for your interest and your continued support in the company. Please note that all participants will be on listen-only mode when the management is presenting. We will start the Q&A only after the management has gone through the entire presentation. We endeavor to answer all questions during the Q&A session, but due to time constraint, priority will be given to the covering analysts. Let me quickly go through the disclaimer. Please do note that during this conference call, there may be forward-looking statements with respect to the company's business and financial conditions. Such forward-looking statements could involve known and unknown uncertainties and risks That would cause actual results, performance and events to differ materially from those expressed or implied during this conference call. For your reference, the investor relations presentation related to our recent results can be downloaded from our website. On today's call, we have Mr. Robin Ng, the group CEO, and Ms. Katie Su, the group CFO. Robin will begin with a brief discussion and group key highlights, and then Katie will provide details on the financial performance. This will be followed by an update on the guidance and outlook, and then we will open the floor for Q&A. Without further ado, let me hand the time over to Robin now. Thank you, Rohan.

Good morning and good evening, everyone. It's a pleasure to have you all on our earnings conference call for the first quarter of 2023. Let me comment on some recent developments in the industry and the overall macro environment before I update about our performance for the first quarter. At the start of 2023, there was some optimism for recovery in the global economy and improvement in consumer confidence. However, escalating trade tensions and a persistent inflationary environment impacted consumer sentiment and resulted in a more cautious tone in the semiconductor industry overall. Navigating through the ongoing industry down cycle, I'm pleased to highlight that our diversified business model enabled ASMPT to deliver revenue above the midpoint of our guidance for the first quarter of 2023. I must emphasize again that our unique broad-based portfolio provides much-needed resilience and competitive advantage. This was apparent during the quarter. While the semi-segment was still impacted by the semiconductor down cycle, the SMT segment delivered its strongest ever first quarterly revenue performance. This first quarter of 2023 was also the third consecutive quarter in which SMT accounted for a higher proportion of our group's revenue.

Looking at the end market applications that we serve, our communication, computers,