World leading Dutch microchip machine maker ASML said Wednesday it managed to chalk up strong growth last year despite the coronavirus pandemic as demand for equipment for online services at home kept electronics manufacturers busy.

The company makes the systems used by the semiconductor industry to manufacture the chips that go into products from mobile phones to cars, and it is seen as a key bellwether for the IT industry.

ASML said its 2020 net profit jumped some 37 percent to 3.5 billion euros, with sales up more than 18 percent at 14 billion euros on the back of "strong demand".

The sales figures included 4.5 billion euros from 31 Extreme Ultraviolet (EUV) machines which are used to produce ever smaller microchips in greater numbers.

"For ASML, 2020 was a year of strong growth, both in sales and in profitability," boss Peter Wennink said in a statement.

"The build out of the digital infrastructure and the continued technology innovation is relevant to the consumer, automotive and industrial markets and drives demand across our entire product portfolio," Wennink added.

ASML said it expected continued growth this year, with first quarter sales at 3.9-4.1 billion euros.

In early morning trade, ASML shares were up 1.9 percent at 448.35 euros on an Amsterdam market up 0.70 percent.

Based in Veldhoven, near the southern Dutch border with Belgium, ASML employs around 28,000 people across 16 countries.

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ASML HOLDING

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