Dutch ASML reported a 30% increase in annual revenue – Kommersant
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The world’s largest manufacturer of lithographic equipment for chips, the Dutch company ASML reported that annual revenue grew by 30% to €27.6 billion. In the fourth quarter of 2023, net sales increased by 12.5% year-on-year to €7.2 billion, net profit increased by 9% to €2 billion. Gross margin for the quarter and year was 51.4% and 51.3%, respectively.
Most of the indicators turned out to be higher than the forecasts of analysts and ASML management itself, which back in October last year predicted that annual revenue would remain at the level of 2022. However, product orders surged in the fourth quarter, totaling €9.2 billion, three times the order volume in the third quarter and ASML’s best quarterly performance ever.
However, the Dutch manufacturer warned that big growth should not be expected in 2024. “The semiconductor manufacturing industry is still going through the low point of the cycle,” ASML CEO Peter Wennink said in a statement. The company’s customers “are still uncertain about what the semiconductor market recovery might look like this year,” he said. However, he says there are some “positive signs.” Among these, he names an increase in the volume of orders, as well as an improvement in the situation with product inventories in sales markets and an increase in the utilization rate of lithographic equipment. For the first quarter, ASML expects net sales of €5-5.5 billion with gross margins of 48-49%.
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