Chip giant ASML sees 2023 sales surge; says China revenue to be steady despite U.S. restrictions
ASML CEO Wennink said China accounted for around 15% of sales in 2022 and will be at a "similar" amount this year, despite U.S. chip export restrictions.For the full year, net sales came in at 21.1 billion euros, a more than 13% year-on-year rise.Dutch firm ASML makes one of the most important pieces of machinery required to manufacture the most advanced chips in the world. U.S. chip curbs have left companies, including ASML, scrambling to figure out what the rules mean in practice.
For the fourth quarter of 2022, ASML's net sales rose more than 29% to 6.4 billion euros , it said Wednesday. For the full year, net sales came in at 21.1 billion euros, a more than 13% year-on-year rise. However, full-year net income actually declined more than 4% to 5.6 billion euros."When we look at the state of the industry today, we are not insulated from ... recessionary fears or high inflation or high interest rates, that's also clear.
"Most of our customers tell us that they expect a recovery in the second half of this year," Wennink said.
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