On the Amsterdam Stock Exchange, analysts today are mainly looking at ASMI and Besi, which are under pressure due to the latest quarterly data. KPN manages to stay profitable and director Joost Farweck is happy about it: “We want to keep competing to keep prices down.”
Production machine manufacturer ASMI has an order value of 647 million euros this year. Last year it was 706 million. Turnover increased by 200 million euros. CEO Paul Verhagen thinks these are good numbers. “The memory chip market is under pressure,” he says. “Three months ago expectations were still low. Perhaps the beginning of the recovery will follow in the second part of this year.’
Verhagen says its customers making the powerful computing chips continue to invest and are still relatively strong. “Although a little less than we thought a few quarters ago.”
Richard Blickman, CEO of Besi, reported 34% fewer sales in the recent quarter than a year ago. The year before, the company still experienced considerable growth – due to the corona pandemic. Despite these lower figures, the CEO isn’t concerned. ‘The semiconductor industry is cyclical. In 2019 we had the last drop, in 2021 there was a huge increase which was saturated in 2022.’ There is now overcapacity in many areas and this must first be eliminated, says the CEO of Desi.
KPN extension
KPN was able to turn a profit this quarter, mainly by winning new mobile customers. The telecommunications company also increased its net profit by ten percent from 179 million euros to 196 million euros. Joost Farweck, director of KPN, says the company is simplifying, automating and digitizing. ‘We are making great strides and will continue to do so. This is good for the company, but also for our customers,’ says Farweck. He thinks it strikes a good balance between cost reduction and rate observation.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
