ASML CEO: Would not change 2030 growth targets if China excluded

AMSTERDAM (Reuters) - ASML Holding NV, a key supplier to semiconductor manufacturers, would not change its 2030 forecasts much if Chinese chipmakers are unable to expand their capacity beyond current levels, CEO Peter Wennink told investors on Friday.

ASML had about 16% of sales in China in 2021 but it has not received permission to sell its most advanced tools there as they are considered "dual use" technology with military applications.

Speaking at a meeting with investors, Wennink said "if the geopolitical situation is such, which I would not expect, but that, for instance China would absolutely be excluded from any growth, the demand is there. The fabs (fabrication plants) would be built somewhere else. There could be a temporary hiccup. But ultimately those chips need to be made."

"So it doesn't change the 2030 picture that much."

ASML on Thursday upgraded its long term forecasts for 2025 and 2030, saying it expects demand for its products to be strong in the coming decade.

It expects sales to grow to 44-60 billion euros in 2030, from 18.6 billion euros in 2021.

(Reporting by Toby Sterling, Editing by Louise Heavens)