ASML Reported Q1 Earnings: Exceeds Growth Expectations, Expects Full Year Net Sales Growth of Over 25%
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Update time : 2023-04-22 10:18:24
Semiconductor manufacturing equipment manufacturer ASML yesterday announced its financial results for the first quarter of 2023. in the first quarter of 2023, ASML achieved net sales of 6.7 billion euros, a gross margin of 50.6% and a net profit of 2 billion euros. New orders in the first quarter of the year amounted to EUR 3.8 billion, of which EUR 1.6 billion were for EUV lithography.
ASML President and CEO Peter Wennink said: "The first quarter net sales of 6.7 billion euros, gross margin of 50.6%, both higher than expected. This was primarily due to more rapid load-out service and client acceptance during the quarter, which resulted in higher than expected growth in EUV and DUV lithography revenue."
ASML continues to receive diverse demand signals from different end markets as the industry as a whole works towards more reasonable inventory levels. Some major customers are making further adjustments to their demand rh ythms; however, at the same time other customers, particularly their demand for mature process DUV lithography, are absorbing the changes in demand resulting from these rh ythms.
ASML forecasts that overall, market demand will continue to exceed their capacity this year, with undelivered orders currently exceeding €38.9 billion. The next focus for ASML will continue to be on fully ramping up system capacity.
In addition, Peter Wennink added: "ASML expects net sales of 6.5 to 7 billion euros in the second quarter of 2023, with a gross margin of between 50 and 51 percent. Research and development costs are expected to be approximately €990 million, and selling and administrative expenses are expected to be approximately €275 million. ASML is expected to continue its strong growth in 2023, with net sales growth of more than 25 percent and a slightly improved gross margin compared to 2022."
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