Order bookings fell 42 per cent to €2.6 billion (US$2.8 billion) in July through September from the previous quarter, Europe’s most valuable technology company said in a statement on Wednesday. That compares with an average estimate of €4.5 billion among analysts polled by Bloomberg.
“The macroeconomic situation has not improved,” chief executive officer Peter Wennink said in a video interview on the results. “We still see relatively high inflation rates, high interest rates, some fear of recession in Europe, in the US,” he said. “The geopolitical environment is also difficult from time to time.”
Chinese chip makers can still access critical ASML equipment for four months
Chinese chip makers can still access critical ASML equipment for four months
ASML, which is the only producer of the lithography equipment needed to make the most advanced semiconductors, has experienced a jump in business from China this year as chip makers there boosted orders ahead of looming export controls.
China accounted for 46 per cent of ASML’s sales in the third quarter, compared to 24 per cent in the previous quarter and 8 per cent in January to March.
“Our Chinese customers say: We are happy to take the machines that others don’t want,” Wennink said. “Because their fabs are ready. They can take the tools.”
The US announced additional export curbs on Tuesday that are designed to block China’s access to advanced semiconductor technology. ASML said the new measures will hit its sales there in the medium to long term.
ASML is already barred from selling its most advanced equipment, known as extreme ultraviolet machines, to China. The firm says it doesn’t expect the Dutch and US measures to have a material impact on its financial outlook for the year or in the longer term.
