ASML: “We won’t meet demand through 2028 ... further capacity expansion”

[Financial News] The Dutch company ASML, the world’s largest maker of semiconductor lithography equipment, raised its sales forecast for this year and said equipment supply would not keep up with demand in 2027–2028.
On the 14th, ASML reported its third-quarter results (July–September) and forecast revenue of €44 billion–€45 billion (approximately ₩65.5 trillion–₩67 trillion) for this year. It raised the lower end of its previous forecast of €43 billion–€45 billion. It forecast fourth-quarter revenue of €14.2 billion–€15.2 billion, an expected increase of 22–30% from the third quarter.
CEO Christophe Fouquet said, “We expect that, with currently planned supply, we will not be able to fully meet customer demand in either 2027 or 2028,” adding, “We are considering increasing production capacity in 2028 by at least the 30% expansion we previously announced.”
He said customers continued to raise their forecasts for equipment demand based on the scale and duration of their AI investments, adding, “Some customers have indicated that they want to place orders for 2029, or even 2030.”
Because it takes more than a year from ordering ASML equipment to its delivery, the company’s results are considered a leading indicator of semiconductor manufacturers’ investment plans.
ASML’s third-quarter revenue was €11.66 billion (approximately ₩17.4 trillion), a quarterly record. It matched the market forecast of €11.56 billion.
The gross margin was 57.5%, above the company’s guidance, and net income rose 70% from €2.92 billion in the second quarter to €4.96 billion (approximately ₩7.4 trillion).
ASML sold 17 extreme ultraviolet (EUV) lithography machines in the third quarter.
Service revenue also rose 19% from the previous quarter as semiconductor manufacturers began upgrading their existing equipment.
ASML CFO Roger Dassen said, “This year’s 36% increase in overall revenue from last year is mainly thanks to the EUV business,” adding, “The EUV business will grow by more than 45% this year.”
According to ASML investor materials, Taiwan (32%) and South Korea (31%) ranked first and second, respectively, in regional shares of third-quarter revenue from new equipment, followed by China (23%) and the U.S. (13%). Samsung Electronics Co., Ltd. plans to begin mass-producing semiconductors by 2028 using state-of-the-art “High NA EUV” machines costing up to $400 million each (approximately ₩530 billion), while Taiwan Semiconductor Manufacturing Company Limited (TSMC) plans to do so by 2030.

[email protected] Lee Seok-woo, International Affairs Specialist Reporter