ASML Holding targets sales of EUR13B in 2020

ASML Holding NV (ASML.AE) said Thursday that it expects to grow annual sales to around 13 billion euros ($14.90 billion) by 2020, boosted by a healthy semiconductor end-market.

The Dutch maker of semiconductor equipment said its previous guidance for 2020 net sales was EUR11 billion, which was raised from EUR10 billion after its acquisition of HMI.

For 2025, the company expects to generate annual revenue of between EUR15 billion and EUR24 billion, ASML said.

ASML’s Chief Executive Peter Wennink is expected to unveil those growth goals at the company’s investor day to be held later on Thursday.

The company said major innovations such as 5G connectivity, artificial intelligence, autonomous driving, and big data will drive semiconductor demand and that it sees strong growth opportunities in semiconductor lithography lasting beyond the next decade.

ASML said it anticipates customers will increasingly adopt its extreme ultraviolet lithography, its more advanced technology, while deep ultraviolet lithography will remain important over the next five-to-seven years.

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