AMSTERDAM (Reuters) -ASML, the computer chip equipment maker that has been hit by successive waves of U.S.-led restrictions on exports to China, said in its annual report on Wednesday that uncertainty
ASML Reports Customer Spending Concerns Amid Export Restrictions
AMSTERDAM (Reuters) -ASML, the computer chip equipment maker that has been hit by successive waves of U.S.-led restrictions on exports to China, said in its annual report on Wednesday that uncertainty over export controls had weakened customer demand in 2024.
"Macroeconomic uncertainty - including [over] technological sovereignty and export controls - led certain customers to remain cautious and control capital expenditure." it said.
ASML's customers include TSMC of Taiwan, South Korea's Samsung and SK Hynix, SMIC of China and Intel of the U.S. among others.
ASML said that a growing number of entities in China, which accounted for 36% of its sales in 2024, are now subject to restrictions and the company faces ongoing risk from increasingly complex restrictions and possible countermeasures. The company has said it expects China sales to fall towards 20% in 2025.
The company repeated its 2025 sales forecasts of 30-35 billion euros, up from 28.3 billion euros ($30.24 billion) in 2024, with the AI boom boosting demand for its EUV lithography systems, which are needed to create the circuitry of computer chips.
It also said it will appoint former Dutch Social Affairs minister Karien van Gennip to the company's supervisory board. It has recently taken other politicians onboard, including hiring former French Finance Minister Bruno Le Maire as special advisor to the executive board and former deputy Economy Minister Frank Heemskerk as Global Affairs Chief.
($1 = 0.9360 euros)
(Reporting by Toby Sterling and Nathan Vifflin; Editing by Muralikumar Anantharaman and Elaine Hardcastle)
