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© ASML Electronics Production | October 20, 2022

ASML reports ”record bookings” in third quarter

Semiconductor equipment manufacturer ASML says Q3 ”record quarterly bookings” came in at 8,9 billion euro, compared to 8,4 billion euro for the corresponding quarter last year.

ASML reports Q3 net sales of €5.8 billion, a gross margin of 51.8%, and net income of €1.7 billion, according to the company’s latest interim report.

"Our third-quarter net sales came in at €5.8 billion with a gross margin of 51.8% — above our guidance. There is uncertainty in the market due to a number of global macro-economic concerns including inflation, consumer confidence and the risk of a recession. While we are starting to see diverging demand dynamics per market segment, the overall demand for our systems continues to be strong. This resulted in record bookings in the third quarter of around €8.9 billion of which €3.8 billion is EUV, including High-NA systems, says ASML President and Chief Executive Officer, Peter Wennink, in the report.

ASML expects Q4 2022 net sales between €6.1 billion and €6.6 billion and a gross margin around 49%. Expected sales for the full year €21.1 billion at the midpoint of the Q4 guidance

The value of fast shipments in 2022 leading to delayed revenue recognition into 2023 is expected to be around €2.2 billion. A fast shipment process skips some of the testing in ASML’s factory. Final testing and formal acceptance then takes place at the customer site. This leads, according to ASML, to a ”deferral of revenue recognition for those shipments until formal customer acceptance".

Wennink says that the company is continuing to assess and follow the new US export control regulations.

”Based on our initial assessment, the new restrictions do not amend the rules governing lithography equipment shipped by ASML out of the Netherlands and we expect the direct impact on ASML's overall 2023 shipment plan to be limited,” Wennink continued.

The semiconductors equipment maker has reportedly ordered its employees in the US to stop serving customers in China as a response to the newly updated US regulations.

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November 15 2022 12:19 am V20.10.16-1
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