Dutch computer chip maker and global hi-tech bellwether ASML Wednesday reported "a fantastic" 12 months with year-on-year profits almost doubling in 2017, sales on the increase and thousands of new jobs being created. "ASML generated record sales and net income in 2017," said chief executive officer Peter Wennink. Net profit soared by 44 percent to 2.12 billion euros ($2.6 billion) in 2017. Sales also hit record highs, rising by a third to 9.05 billion euros.
"Overall a fantastic year," said Wennink from the company's headquarters in the southern Dutch town of Veldhoven. ASML is one of the world's leading makers of lithography systems used by the semiconductor industry to make integrated circuits and microchips.
The lithography systems are used to manufacture processor chips, as well as memory chips such as DRAM and SRAM, essential for mobile phones and tablets. Part of ASML's success comes from its sales of so-called extreme ultraviolet (EUV) machines which enable companies to produce smaller, more powerful and more rapid microprocessors. This helped the company to end the year on a strong fourth quarter, with net profits up 23 percent at 643 million euros.
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