ASML turnover drops by more than twenty percent in one year

Chip machine manufacturer ASML had a turnover of 5.29 billion euros in the first quarter of this year, 21.6 percent less than a year earlier. The Dutch company had previously said that it saw 2024 as a ‘transition year’ and said that lower turnover was expected.

The company sold in recent quarter 66 new chip machines and sold 4 used machines. The company sold a total of 11 EUV machines. This is considerably less than a year earlier, when the company sold another 17 EUV machines and 96 other lithography machines.

Gross profit and net revenue were up last quarter also less than a year earlier. That gross profit was 2.7 billion euros, 21 percent less than a year earlier. Net income fell by more than 37 percent to 1.2 billion euros.

Cfo Roger Dassen says that sales are ‘right in the middle ‘ are of expectations and that the gross profit is even higher. This is partly because ASML sold more EUV machines than expected. The margin on these machines is relatively high. Dassen says that ASML expects to sell more chip machines in the second half of the year, bringing the annual figures should be comparable to those of last year.

Based on ‘industry trends’, ASML expects a achieve greater sales. ASML says it will continue to invest in growth and hire new people. In the quarterly figures, the company does not say anything about possible growth outside the Netherlands and the investments of the Dutch outgoing cabinet.