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ASML Holding: Better-than-expected fourth-quarter earnings

ASML Holding, a major supplier to PC processors, announced better-than-expected quarterly profits of 1.77 billion euros, and expects sales to grow 20% in 2022.

“The expected impact of the fire on part of a building at our plant in Berlin is included in the estimate for the 2022 increase,” said CEO Peter Wennink.

“Based on what we know so far, we believe we can manage the consequences of this fire without significant impact on our production system for 2022.”

Analysts had expected net profits of 1.51 billion euros, up from 1.35 billion euros a year ago.

Profits came after the better-than-expected margin of 54.2%, as sales of € 5 billion were slightly lower than analysts’ estimates of € 5.1 billion.

ASML is trying to expand its production as its customers, including TSMC, Samsung, Intel, invest heavily in new capacity, in an effort to reduce the shortage of semiconductors worldwide.

The company stressed that it will continue to struggle to meet demand this year, and forecast sales of 3.3-3.5 billion euros in the first quarter.

The lowest number comes as some of its systems are delivered to customers before passing the final test, which means that 2 billion euros in additional revenue will be recognized in the coming quarters.

The company also stressed that it will double the dividend for 2021 to 5.50 euros.

Source From: Capital

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