ASML earnings up despite pandemic

ASML Holding’s logo is seen at company’s headquarters in Eindhoven January 23, 2019. — Reuters pic
ASML Holding’s logo is seen at company’s headquarters in Eindhoven January 23, 2019. — Reuters pic

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THE HAGUE, Jan 20 — World leading Dutch microchip machine maker ASML said today it managed to chalk up strong growth last year despite the coronavirus pandemic as demand for equipment for online services at home kept electronics manufacturers busy.

The company makes the systems used by the semiconductor industry to manufacture the chips that go into products from mobile phones to cars, and it is seen as a key bellwether for the IT industry.

ASML said its 2020 net profit jumped some 37 per cent to €3.5 billion (RM17 billion), with sales up more than 18 per cent at €14 billion on the back of “strong demand”.

The sales figures included €4.5 billion from 31 Extreme Ultraviolet (EUV) machines which are used to produce ever smaller microchips in greater numbers.

“For ASML, 2020 was a year of strong growth, both in sales and in profitability,” boss Peter Wennink said in a statement.

“The build out of the digital infrastructure and the continued technology innovation is relevant to the consumer, automotive and industrial markets and drives demand across our entire product portfolio,” Wennink added.

ASML said it expected continued growth this year, with first quarter sales at €3.9-4.1 billion.

In early morning trade, ASML shares were up 1.9 per cent at €448.35 on an Amsterdam market up 0.70 per cent.

Based in Veldhoven, near the southern Dutch border with Belgium, ASML employs around 28,000 people across 16 countries. — AFP

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