ASML expects 2023 peak despite export ban to China | Economy
ASML will earn more money again from the sale of chip machines in the second quarter of 2023. Although the technology company from Veldhoven is under pressure from the geopolitical battle between China and the West, this is not reflected in the sales figures. ASML expects a significant increase in sales for the full year of 2023.
The turnover in the second quarter amounted to 6.90 billion euros, compared to 6.74 billion euros in the first quarter. ASML’s net profit fell slightly from around €1.96 billion in the first three months of this year to around €1.94 billion in the last quarter.
“Geopolitical developments are challenging from time to time,” says ASML Chairman Peter Wenink in an explainer video on the ASML website. By this he refers to the tensions between Western economies and China.
These have direct consequences for ASML. Last year, the Netherlands and Japan agreed with the United States that companies from these two countries will no longer be allowed to export advanced chip machines to China.
This export moratorium will be extended from September. Weinink also says he is still waiting for new announcements from the US. “I don’t know what that will be. We’ll have to wait and see.”
In terms of all export restrictions, Weinink does not expect “any significant impact on the 2023 numbers.” ASML even announces that sales in 2023 will be better than previously expected. The company expects to achieve 30 percent higher sales over the full year compared to 2022. The company had previously expected to increase turnover by a quarter.
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