THE HAGUE (AFP) – Dutch tech giant ASML, which sells cutting-edge machines to make semiconductor chips, reported a drop in annual net profits Wednesday, as geopolitical headwinds and the emergence of Chinese AI start-up DeepSeek disrupt the sector.
ASML said its net profits for 2024 came in at EUR7.6 billion, compared to EUR7.8 billion for 2023.
Total net sales last year were EUR28.3 billion, slightly above the company’s forecast of EUR28 billion. In 2023, ASML booked sales of EUR27.6 billion.
CEO Christophe Fouquet hailed “another record year” in 2024 for the firm in terms of annual sales.
“Consistent with our view from the last quarter, the growth in artificial intelligence is the key driver for growth in our industry,” he said in a statement.
“It has created a shift in the market dynamics that is not benefiting all of our customers equally, which creates both opportunities and risks,” Fouquet said.
