ASML reports accidental profit disclosure to Dutch market regulator

AMSTERDAM (Reuters) – Computer chip equipment maker ASML has informed the Dutch markets regulator about its accidental early release of third-quarter earnings in what it described as a “technical error”, the company said on Wednesday.

ASML said in a statement that it contacted the relevant financial authorities immediately after the incident.

A spokesperson for the Dutch Financial Markets Authority (AFM) said it could not comment on whether it would investigate the matter, as it is obliged by law not to disclose its conversations with companies.

“An important point is that the information must be distributed to shareholders at the same time,” said the spokesperson.

ASML published the press release containing third-quarter earnings on its website during trading hours, half a day earlier than planned. They included a downgrade in sales and reserves forecasts for 2025, leading to the biggest sell-off in its shares in 20 years.

CEO Christophe Fouquet apologized in a call with analysts on Wednesday, calling it “regrettable” given the severity of the forecast downgrade.

The Dutch shareholder organization VEB reacted with dismay to the disclosure, but noted that it was not the early disclosure, but rather the bad news, that led to the share sale.

“For a company that is the largest listed company in the Netherlands and also the leading technology company in Europe… it is not what we would expect from ASML,” VEB chief Gerben Everts said in an interview.

“They should be embarrassed that this happened and that it got so much attention in the news.”

ASML had a similar incident during its 2022 investor day, when an SEC document on the company’s prospects was published ahead of the Dutch schedule.

Everts, himself a former AFM board member, said he does not believe shareholders have grounds to sue for damages over the incident, or that the AFM will ultimately issue any penalty worse than the public embarrassment of ASML.

But he disagreed with ASML’s labeling of the incident as a technical error. “This is human error,” he said. “Everyone makes mistakes.”