Paul van Gerven
15 July 2020

ASML’s operational capabilities have returned “largely back to normal”, ASML CEO Peter Wennink revealed at the publication of Q2 financial results. In the first half of this year, the onset of the corona pandemic caused disruptions in ASML’s supply chain as well as operational difficulties, but with some improvisations, the company managed to keep supplying its customers. There were some delayed shipments, however.

ASML returned to business-as-usual about halfway through the second quarter, Wennink said in a video message. “The first half we had some supply issues because of lockdowns and absenteeism around the world. But actually, the second half of the quarter came back to normal. Actually, we’re in pretty good shape. So of course, depending on any unforeseen outbreak of COVID-19 around the globe, I think we are managing well.”

ASML building

ASML reported net sales of 3.3 billion euros in Q2, which according to Wennink could have been 3.6 billion euros if operations had returned back to normal before the start of Q2. That would have been in line with the 50 percent increase CFO Roger Dassen informally guided three months ago. Sequentially, net profit nearly doubled to 751 million euros.

Feeling like things are under control, ASML is comfortable providing financial guidance again – which it was not in Q2. It is forecasting 3.6 to 3.8 billion euros in sales for Q3. For the year as a whole, ASML hasn’t changed its views all that much and is counting on another year of growth. Last year’s revenue was 11.8 billion euros.

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