Finance
ASML's annual report says export curb worries hit customer spending in 2024
Published by Global Banking & Finance Review®
Posted on March 5, 2025
2 min readLast updated: January 25, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 5, 2025
2 min readLast updated: January 25, 2026
ASML's 2024 report reveals export restrictions impact customer spending, with China sales expected to drop. AI demand boosts EUV system sales.
AMSTERDAM (Reuters) -ASML, the computer chip equipment maker that has been hit by successive waves of U.S.-led restrictions on exports to China, said in its annual report on Wednesday that uncertainty over export controls had weakened customer demand in 2024.
"Macroeconomic uncertainty - including [over] technological sovereignty and export controls - led certain customers to remain cautious and control capital expenditure." it said.
ASML's customers include TSMC of Taiwan, South Korea's Samsung and SK Hynix, SMIC of China and Intel of the U.S. among others.
ASML said that a growing number of entities in China, which accounted for 36% of its sales in 2024, are now subject to restrictions and the company faces ongoing risk from increasingly complex restrictions and possible countermeasures. The company has said it expects China sales to fall towards 20% in 2025.
The company repeated its 2025 sales forecasts of 30-35 billion euros, up from 28.3 billion euros ($30.24 billion) in 2024, with the AI boom boosting demand for its EUV lithography systems, which are needed to create the circuitry of computer chips.
It also said it will appoint former Dutch Social Affairs minister Karien van Gennip to the company's supervisory board. It has recently taken other politicians onboard, including hiring former French Finance Minister Bruno Le Maire as special advisor to the executive board and former deputy Economy Minister Frank Heemskerk as Global Affairs Chief.
($1 = 0.9360 euros)
(Reporting by Toby Sterling and Nathan Vifflin; Editing by Muralikumar Anantharaman and Elaine Hardcastle)
Macroeconomic uncertainty, including concerns over technological sovereignty and export controls, has led certain customers to remain cautious and control capital expenditure.
China accounted for 36% of ASML's sales in 2024, but a growing number of entities there are now subject to restrictions.
ASML has repeated its sales forecasts for 2025, projecting sales of 30-35 billion euros, up from 28.3 billion euros in 2024.
ASML will appoint former Dutch Social Affairs minister Karien van Gennip to its supervisory board, continuing its trend of hiring former politicians.
The AI boom is boosting demand for ASML's EUV lithography systems, which are crucial for advanced chip manufacturing.
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