Chip machine maker ASML expects to grow even further this year. For example, turnover will be about a quarter above last year, says the company. But Jean Paul Van Oudheusden, market analyst at eToro, does reflect on the new orders. ‘They are 40 percent lower than in the previous quarter. Exactly what people were already afraid of.’
ASML’s turnover in the first quarter amounted to 6.7 billion euros. From this, the company made a net profit of just under 2 billion euros. That was beyond the chip machine maker’s own expectations. ‘If you look at the turnover, the company had expected between 6.1 and 6.7 billion,’ says Van Oudheusden. So that became 6.7. And that profit also turned out to be slightly higher.’
ASML has been in the news recently about export restrictions for its chip machines to China. The company was not allowed to supply the latest generation of chip machines, so-called EUV machines. ASML says it is still waiting for the final rules.
‘A lot will depend on that,’ says Van Oudheusden. ‘Minister of Economic Affairs Micky Adriaansens gave an interview in Germany yesterday and said that he will probably publish that export license in July. So we have to wait another three months to see exactly what the impact will be.’
Despite these generally good results, the market analyst speaks of a ‘mixed picture’. “The main number everyone was looking at is the new orders. They are still 40 percent lower than in the previous quarter. Exactly what people were already afraid of.’
If those are delayed orders, that’s not so bad, says Van Oudheusden. ‘With all those factories under construction, those new orders might come a little later. Yet at ASML that is something we are not used to seeing.’