AMSTERDAM (Reuters) -ASML Holding NV, a key supplier of equipment to computer chip manufacturers, on Thursday said it would launch a 12 billion euro ($12.2 billion) share buyback programme to run through 2025.
In an announcement ahead of an investors' day on Friday, the company said it expects revenue of 30 billion to 40 billion euros by 2025, up from a previous estimate of 24 billion to 30 billion euros.
The company's 2021 sales totalled 18.6 billion euros.
ASML, which has more orders for its equipment than it can currently supply and foresees a decade of growth, said it is moving ahead with plans to expand capacity.
"While the current macro environment creates near-term uncertainties, we expect longer-term demand and capacity showing healthy growth," the company said in a statement.
Shares jumped on the announcement and closed 9.7% higher at 544.20 euros in Amsterdam.
The company said it expects sales to continue growing, with a sales target of 44 to 60 billion by 2030.
ASML dominates the market for lithography systems, large machines used to map out the circuitry of semiconductors.
It said it expects to expand production of its flagship EUV machines, which cost about 200 million euros each, to 90 annually from around 60 at present, by 2026.
Major ASML customers include Taiwan's TSMC, South Korea's Samsung (LON:0593xq) and SK Hynix Inc, and Intel Corp (NASDAQ:INTC) and Micron Technology Inc (NASDAQ:MU) of the United States.
($1 = 0.9839 euro)