ASML says its revenue to grow to between $46 billion and $63 billion by 2030

By Toby Sterling and Nathan Vifflin

AMSTERDAM (Reuters) -Computer chip equipment maker ASML said on Thursday it expects sales to grow to between 44 billion euros and 60 billion ($46.4 billion to $63.3 billion) by 2030, suggesting an average annual increase of 8% to 14%, driven by strong demand for its most advanced tools.

The guidance came in a statement ahead of the biannual investor day at company headquarters in Veldhoven in the Netherlands, when it will face questions on prospects for sales to China after Donald Trump was elected as U.S. president.

"We expect that our ability to scale EUV technology into the next decade ... positions ASML well to contribute to, and leverage the artificial intelligence opportunity," Chief Executive Christophe Fouquet said in a statement.

This would allow ASML to deliver significant revenue and profitability growth, he added.

The revenue forecast and guidance for gross margins of between 56% and 60% are unchanged from the company's previous long-term guidance issued in 2022.

Analysts said the guidance was reassuring, after third quarter earnings in October missed analysts' expectations by the most in years, as customers such as Intel and Samsung delayed orders for equipment amid weakness in chip markets other than AI.

"The first glance looks positive," said Kevin Wang of Mizuho Securities, adding that some investors had expected a cut in guidance. "Management remains bullish on ASML’s sales and profitability growth."

Chipmakers such as Taiwan's TSMC use ASML's EUV tools to build the circuitry of the most advanced chips.

The company is banned from selling most of its advanced EUV and DUV lithography equipment in China following waves of curbs by the U.S. and Dutch governments that began in Trump's first term.

In October, ASML said it expected China sales to fall to 20% of total sales after a contribution of more than 40% over the past six quarters.

ASML is still able to sell relatively older "dry" DUV product lines in China without restrictions.

($1=0.9478 euros)

(Reporting by Toby Sterling; Editing by Muralikumar Anantharaman and Clarence Fernandez)