ASML’s quarterly sales increased by 15% – Kommersant

Sales of the largest technology company in Europe, the manufacturer of equipment for the production of semiconductors of the Dutch ASML in the third quarter grew up by 15%, despite a general decline in demand in the chip market. At the end of the reporting period, net sales amounted to €6.67 billion. A year earlier, it was €5.78 billion. Net profit increased by 11%, to €1.89 billion. Meanwhile, both of these indicators were lower compared to the second quarter current year.

In general, experts evaluate ASML’s results are satisfactory given that the semiconductor market is in decline and demand for electronic products that use semiconductors is currently very weak. Chipmakers including TSMC and Samsung, which are customers of ASML, which supplies chipmaking equipment, are reducing capital spending this year.

According to ASML CEO Peter Wennick, “the semiconductor industry is now going through the bottom of the cycle, and our customers expect a turnaround to be visible by the end of this year.” ASML management believes that 2024 will be a transition year. The manufacturer makes “conservative” forecasts for next year and expects revenue to be close to 2023 levels, namely about €28.5 billion versus €27.2 billion that the company could receive in 2023. ASML’s order book reaches €35 billion, and this will help get through the period of uncertainty in 2024, and 2025, according to management, will already be strong for the industry and its participants.

ASML shares react to the earnings by 0.8%. Since the beginning of the year, the company’s shares have increased by 10.75%.

Alena Miklashevskaya