ASML has reported record net orders for its semiconductor manufacturing machinery as technology groups worldwide strive to get their hands on computer chips amid a global shortage.
The Dutch lithography equipment manufacturer generated profits of €1.41bn in the second quarter, compared with €1.1bn during the same period a year earlier. Revenues were €5.4bn, up from €4bn in 2021.
Analysts polled by Reuters had predicted profits of €1.44bn, while revenues beat forecasts of just under €5.3bn.
ASML dominates the global market for lithography machines used to make advanced semiconductors. The group has benefited from soaring demand for computer chips since the start of the Covid-19 pandemic and has been considering how to boost supply to meet the needs of chipmakers’ multibillion-dollar expansion plans.
Flagging demand for electronics has dented the profits in recent weeks at some chipmakers, including Samsung Electronics. ASML however said demand for its machinery has not been affected. Net bookings came in at €8.5bn for the quarter, a record for the company.
“We still see strong demand for our systems, driven by global megatrends in automotive, high-performance computing and green energy transition,” said chief executive Peter Wennink.
He added that “increasing supply chain constraints” had caused delay to some orders while the group said soaring global inflation had affected earnings.
The company lowered its revenue growth forecast for the full year to 10 per cent, which it blamed on delayed recognition of some sales. It earned €3.54 a share.
ASML shares were down 1.7 per cent in morning trading.
