ASML made a profit of 1.9 billion euros in the third quarter of 2023. On Wednesday morning, the company announced a turnover of 6.7 billion euros.
These are excellent figures for the chip machine maker, given that the chip sector is in a slump. ASML CEO Peter Wennink says: “The semiconductor industry is currently working through the bottom of the cycle, and our customers expect the inflection point to be visible by the end of this year. Customers continue to be uncertain about the shape of the demand recovery in the industry. We, therefore, expect 2024 to be a transition year. Based on our current perspective, we take a more conservative view and expect a revenue number similar to 2023. But we also look at 2024 as an important year to prepare for the significant growth that we expect for 2025”
Good news from China
Financial director Roger Dassen says that the number of sales to China increased in the third quarter. “It is good to recognise that most of our shipments to China come from orders we received in 2022 and 2021,” says Dassen, who notes that these do not concern ASML’s latest machines.
“In addition, we have received relatively few orders from China in recent years, while we now see that Chinese companies are placing more orders. While orders from other countries are actually decreasing,” says Dassen.
Sales growth
For the last quarter of 2023, CEO Wennink expects a turnover of between 6.7 and 7.1 billion euros, and he expects turnover growth of thirty percent in 2023 compared to 2022.
Finally, ASML announced that it had repurchased approximately 100 million euros in its shares in the third quarter. This is a measure that benefits the financial position of the company’s shareholders.
