On October 19, lithography machine major ASML released its third quarter financial report for 2022, with sales and profits exceeding market expectations, and the new net booking amount also set a record.
financial report shows that ASML's net revenue in the third quarter increased by 410% year-on-year to 5.8 billion euros, exceeding the previous expectation of 5.39 billion euros; although net profit fell by 2.24% year-on-year to 1.701 billion euros, it also greatly exceeded the expected 1.42 billion euros; the gross profit margin was 51.8%, which was also higher than expected. In addition, ASML's quarterly net bookings also reached a record 8.9 billion euros in the third quarter.
ASML CEO Peter Wennink said that due to a series of global macroeconomic problems including inflation and consumer confidence, the market has the risk of uncertainty and recession. While we are starting to see different demand dynamics in each segment, the overall demand for our system remains strong. This resulted in a record-breaking booking volume of about 8.9 billion euros in the third quarter, with 3.8 billion euros being EUVs, including the High NA system.
At the same time, Wennink also revealed that the company's preliminary assessment shows that the new regulations on the company's overall shipment plan for 2023 are limited. "We can continue to ship non-EUV lithography tools from Europe to China."
That is to say, the export of ASML DUV lithography machines to China will not be affected by the new US export control regulations.
ASML expects sales for the full year of 2022 to be approximately 21 billion euros. In addition, revenue in 2022 is expected to be approximately 2.2 billion euros in 2023 due to rapid shipments.
In terms of performance outlook, ASML expects net sales to be 6.1-6.6 billion euros in the fourth quarter of 2022 (market expects 6.13 billion euros), with an expected net revenue of 21.1 billion euros for the whole year, and a gross profit margin of nearly 50%.
As the third-quarter performance and fourth-quarter guidance exceeded market expectations, coupled with ASML's confirmation that "the new regulations on the company's shipments in 2023 have limited impact", ASML's stock price rose 6.42% before the market opened to $424.59.
Editor: Xinzhixun-Longkejian
