ASML is having some issues in ramping up its manufacturing capacity, CFO Roger Dassen said in a video interview discussing the Q3 results. A new logistics center had some startup problems, delaying the assembly of a few systems. Additionally, there’s a materials shortage in the supply chain. The issues are having an impact on ASML’s next quarter, Dassen pointed out, but the previously forecasted revenue growth approaching 35 percent this year isn’t in danger.
The increase in manufacturing capacity is a response to a surge in demand for both leading-edge and mature-node semiconductors, which ASML believes will be long lived. The equipment maker wants to grow annual unit manufacturing capacity of DUV systems by 50 percent and double it for EUV scanners. That’s based on units. In terms of wafer output, ASML is looking to double DUV capacity and more than triple EUV capacity.
ASML’s Q3 sales came in at 5.2 billion euros, a 30 percent increase compared to Q3 2020. The Q4 guidance of 4.9-5.2 billion euros is, apart from the aforementioned issues, also impacted by the fact that customers push for early shipments. That means recognition of revenue is delayed to next year, after shipping, installing and testing the tools.
With a year-to-date revenue of 13.6 billion euros, ASML is looking at a full-year revenue of 18.5-18.8 billion euros. That would be a year-on-year increase of 32-34 percent.