Didier Scemama's questions to ASML HOLDING (ASML) leadership • Q3 2025
Question
Didier Scemama questioned ASML's perspective on recent HBM capacity announcements from SK Hynix and Samsung, which imply a significant increase in EUV tool demand for HBM, and whether ASML has sufficient EUV low NA capacity by 2030 to meet such potential demand. He also asked about the portion of ASML's current backlog that extends beyond 2026, potentially explaining hesitation for strong 2026 growth.
Answer
CEO Christophe Fouquet expressed caution regarding translating large announcements into concrete capacity needs but highlighted the importance of a broadening customer base to avoid supply limitations. He confirmed ASML has been preparing for growth and has no concerns about meeting demand. CFO Roger Dassen stated that a 'reasonable number' of the current backlog pertains to beyond 2026, including a 'pretty strong' High NA contingent, which makes precise 2026 projections difficult.