Source: Wall Street News Author: Li Xiaoyin
Asmack's net sales for the first quarter fell 22% year on year to 5.29 billion euros, and net profit fell 37% year on year, keeping the 2024 sales forecast unchanged.
Dutch lithography giant Asmack's revenue and profit both declined in the first quarter, while at the same time lowering its second-quarter results guidance.
On Wednesday local time,$ASML Holding (ASML.US)$The first quarter results report was announced. According to the report, Asmack's net sales for the first quarter fell 21.6% year on year to 5.29 billion euros, lower than the forecast of 5.47 billion euros. Net profit fell 37.4% year over year to 1.22 billion euros, exceeding expectations of 1.07 billion euros. New orders were 3.61 billion euros, falling short of the forecast of 4.63 billion euros.
Sales guidance for the second quarter also fell short of expectations. Asmack expects net sales of 57-6.2 billion euros for the second quarter, an expected value of 6.46 billion euros, and a gross margin of 50%-51% for the second quarter.
However, Asmat's sales growth forecast for 2024 remains unchanged, and sales in 2024 are expected to be basically the same as the previous year.
Asmack CEO Peter Wennink said in a statement:
“Our outlook for the full year of 2024 remains unchanged. The second half of the year is expected to be stronger than the first half, which is in line with the industry's continued recovery from the downturn.”
“We see 2024 as a transition year and will continue to invest in capacity improvements and technology to prepare for a shift in the cycle.”
The financial report also said that despite macroeconomic uncertainty, major trends indicate that the industry is recovering. Demand in the lithography machine market is expected to continue to grow along with the wave of AI, electrification, and energy transformation, and the addition of new fabs around the world.
According to the financial report interview released at the same time, Asmack Chief Financial Officer Roger Dassen said:
“The amount of orders received in the past six months is close to €13 billion, which shows significant volatility.”
“To reach the midpoint of the revenue target of €30 billion to €40 billion set in 2025 (that is, €35 billion), we need to reach more than €4 billion in new orders each quarter for the next three quarters.”
By the close of the US stock market on Tuesday, Asmack led the way for major technology stocks, closing up 2.3%. The cumulative increase since this year has exceeded 36%.
edit/lambor