By Nathan Vifflin
(Reuters) – Chinese demand for ASML’s chip-making tools has remained stronger than expected in 2025, Chief Financial Officer Roger Dassen told journalists on Wednesday.
ASML had warned in October that China sales would drop to 20% of its net system sales. However, they are so far looking stronger than anticipated, Dassen said in a call with Reuters and two other medias.
“We originally set 20%, then we set low 20%. It’s turning now a little bit higher. So we’re probably looking a bit over 25% right now,” he said.
First-quarter net system sales to China remained stable compared to the last quarter at 27%, while they fell everywhere else except Taiwan.
Analysts have said that they expect Chinese chipmakers to keep orders for ASML’s older DUV machines high in fear of more export controls later this year.
Chinese chipmakers’ continued strategic investments are one of the reasons ASML remains in good position to navigate the difficult environment posed by tariffs, J.P.Morgan analysts wrote in their first take on the results.
(Reporting by Nathan Vifflin in Gdansk, editing by Milla Nissi)
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