chipsector
The Dutch manufacturer of chip machines ASML received fewer new orders in the first quarter than experts expected. The company expects the sector to recover next year.
In the first three months of 2024, customers ordered 3.6 billion euros worth of new machines for semiconductor production. This is considerably less than in the fourth quarter of 2023, when ASML received almost 9.2 billion euros in orders.
ASML’s turnover fell to 5.3 billion euros, compared to 7.2 billion euros in the fourth quarter of last year. The net profit amounted to 1.2 billion euros. That was more than 2 billion euros a quarter earlier. The gross profit margin was 51 percent higher than ASML itself expected, says financial director Roger Dassen.
ASML sees 2024 as a “transition year” in which turnover will not increase, but significant investments are required for the expected growth of the chip sector after 2025. That is why the company previously announced cost savings.
