ASML Holding, a critical supplier to the global chip-making industry, has increased its annual sales guidance despite warning of a delayed recovery in the semiconductor industry.
Dutch company ASML, known for its essential ‘lithography’ machines used in semiconductor manufacturing, boasts major customers such as Taiwan Semiconductor Manufacturing (TSM), Samsung Electronics (005930.Korea), and Intel (INTC).
In the second quarter, ASML reported a net profit of €1.94 billion ($2.18 billion), a significant increase from €1.41 billion the previous year. Quarterly net sales also rose to €6.90 billion, up from €5.43 billion in the same period last year.
CEO Peter Wennink acknowledged that their customers are being cautious across different market segments due to ongoing macroeconomic uncertainties, resulting in an expected delay in market recovery. The CEO stated, “The shape of the recovery slope is still unclear.”
For the third quarter, ASML anticipates net sales between €6.5 billion and €7.0 billion, with a gross margin of approximately 50%. In terms of overall growth, the company expects net sales to increase by around 30% in 2023 compared to 2022, surpassing their previous guidance of over 25%.