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ASML profit beats despite Berlin fire; sees 20% sales growth in 2022

Mark White by Mark White
January 19, 2022
in Suppliers
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ASML Q4 earnings seen up 12%, eyes on Berlin fire impact


Company representatives and government officials cut a ribbon during the opening ceremony of the EUV training center at ASML Holding in Tainan, Taiwan, August 20, 2020. REUTERS/Ann Wang

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  • Sees 2022 sales up 20%
  • Berlin fire will not impact shipments – CEO
  • Doubles 2021 dividend to 5.50 euros

AMSTERDAM, Jan 19 (Reuters) – ASML Holding NV (ASML.AS), a key supplier to computer chip makers, on Wednesday reported better-than-expected fourth-quarter earnings of 1.77 billion euros ($2.01 billion) and said it expected sales growth of 20% in 2022.

“The expected impact of the fire in part of a building at our Berlin site is included”, in the 2022 growth forecast, the Chief Executive Officert Peter Wennink said in a statement.

“Based on our current insights, we believe we can manage the consequences of this fire without significant impact on our system output for 2022.”

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Analysts had expected net profit of 1.51 billion euros ($1.72 billion), up from 1.35 billion euros a year earlier, according to Refinitiv data. The earnings beat came from better than expected margins of 54.2%, as sales of 5 billion euros was slightly below analyst estimates of 5.1 billion euros.

ASML is trying to expand production as its customers, which include TSMC , Samsung (005930.KS) Intel , invest heavily in new capacity to try to ease a global semiconductor shortage.

The company said it would continue to struggle to meet demand this year, and forecast first-quarter sales of 3.3-3.5 billion euros.

The lower number comes amid some of its systems being shipped to customers before they have gone through final testing, which means 2 billion euros in extra revenue will be recognised in future quarters, it added.

In September, it said it was benefiting from long-term trends in the electronics industry and expected double-digit annual sales growth throughout the 2020s. read more

The company also said on Wednesday it would double its 2021 dividend to 5.50 euros.

However, investors received a shock at the start of 2022, when the company suffered a fire at a factory in Berlin.

The Veldhoven, Netherlands-based company’s shares, which quadrupled over 2018-2021, closed at 641.4 euros on Tuesday and are down 9.2% this year.

($1 = 0.8828 euros)

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Reporting by Toby Sterling; Editing by Christopher Cushing and Rashmi Aich

Our Standards: The Thomson Reuters Trust Principles.



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