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  • Dutch microchip machine maker ASML on Wednesday reported a 10 percent jump in profit for the first quarter of 2020, saying demand remained unchanged despite the coronavirus pandemic. Net profit rose to 391 million euros ($428 million) year-on-year while sales climbed 9.5 percent to 2.4 billion euros, said the Dutch-based ASML. "The demand outlook is currently unchanged and we have not encountered any push-outs or cancellations this year," ASML chief executive Peter Wennink said. "Despite the challenging circumstances, to date we have been able to continue ASML's operations. Our order intake is strong" he added. The firm's results are closely watched as an indicator for the wider tech industry. The world's leading provider of systems used by the semiconductor industry to make chips said its results fell within the range predicted at the end of March, when ASML updated its forecast for the first quarter because of the coronavirus pandemic. The group completed orders for a net total of 3.1 billion euros in the first quarter, including shipping four Extreme Ultraviolet (EUV) machines, its top-end product used to print chips for mobile phones and computers. Worth around 120 million euros each, these machines which are the size of a bus, make it possible to produce smaller, faster and higher capacity microprocessors. ASML declined to give guidance to investors for the second quarter and the rest of 2020. "There is significant uncertainty about how the current COVID-19 crisis will impact the global GDP development, end markets, our manufacturing capability and supply chain," Wennink said. Based in Veldhoven, near the southern Dutch city of Eindhoven, ASML employs around 25,000 people and has offices in 60 cities and 16 countries. smt/jhe/bmm
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  • ASML says remains strong despite virus-hit tech markets
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