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ASML was banned from exporting its extreme ultraviolet lithography machines to China.
Emmanuel Dunand/AFP via Getty Images
ASML Holding, a key supplier to the global chipmaking industry, raised its annual sales forecast on Wednesday despite warning of a delayed recovery in the semiconductor industry.
Dutch company ASML (symbol: ASML) supplies the “lithography” machines essential to semiconductor manufacturing, with customers including Taiwan Semiconductor Manufacturing (TSM), Samsung Electronics (005930.Korea) and Intel (INTC).
ASML posted a net profit of 1.94 billion euros in the second quarter ($2.18 billion), compared with 1.41 billion euros for the same period a year earlier. Quarterly net sales amounted to 6.90 billion euros, compared to 5.43 billion euros the previous year.
“Our clients in different market segments are currently more cautious due to the continued macroeconomic uncertainties and therefore expect further recovery in their markets. Additionally, the shape of the recovery slope is still unclear,” CEO Peter Wennink said in a statement.
ASML said it expects net revenue of between 6.5 billion and 7.0 billion euros in the third quarter and a gross margin of around 50%. For 2023 as a whole, he expects net sales growth of around 30% compared to 2022, compared to previous forecasts of more than 25%.
Write to Adam Clark at adam.clark@barrons.com