ASML reports €6.2 billion total net sales and
€1.6 billion net income in Q2 2024ASML
continues to expect 2024 total net sales to be similar to 2023,
supported by a strong second half year
VELDHOVEN, the Netherlands, July 17, 2024 – Today, ASML Holding
NV (ASML) has published its 2024 second-quarter results.
- Q2 total net sales of €6.2 billion, gross margin of 51.5%, net
income of €1.6 billion
- Quarterly net bookings in Q2 of €5.6 billion2 of which
€2.5 billion is EUV
- ASML expects Q3 2024 total net sales between €6.7 billion and
€7.3 billion and a gross margin between 50% and 51%
(Figures in millions of euros unless otherwise
indicated) |
Q1 2024 |
|
Q2 2024 |
|
Total net sales |
5,290 |
|
6,243 |
|
...of which Installed Base Management sales1 |
1,324 |
|
1,482 |
|
|
|
|
|
|
New lithography systems sold (units) |
66 |
|
89 |
|
Used lithography systems sold (units) |
4 |
|
11 |
|
|
|
|
|
|
Net bookings2 |
3,611 |
|
5,567 |
|
|
|
|
|
|
Gross profit |
2,697 |
|
3,212 |
|
Gross margin (%) |
51.0 |
|
51.5 |
|
|
|
|
|
|
Net income |
1,224 |
|
1,578 |
|
EPS (basic; in euros) |
3.11 |
|
4.01 |
|
|
|
|
|
|
End-quarter cash and cash equivalents and short-term
investments |
5,406 |
|
5,019 |
|
(1) Installed Base Management sales equals our net service and
field option sales(2) Net bookings include all system sales orders
and inflation-related adjustments, for which written authorizations
have been accepted.
Numbers have been rounded for readers' convenience. A complete
summary of US GAAP Consolidated Statements of Operations is
published on www.asml.com
CEO statement and outlook"Our second-quarter
total net sales came in at €6.2 billion, at the high-end of our
guidance, with a gross margin of 51.5% which is above guidance,
both primarily driven by more immersion systems sales.
"In line with previous quarters, overall semiconductor inventory
levels continue to improve, and we also see further improvement in
litho tool utilization levels at both Logic and Memory customers.
While there are still uncertainties in the market, primarily driven
by the macro environment, we expect industry recovery to continue
in the second half of the year.
"We expect third-quarter total net sales between €6.7 billion
and €7.3 billion with a gross margin between 50% and 51%. ASML
expects R&D costs of around €1,100 million and SG&A costs
of around €295 million. Our outlook for the full year 2024 remains
unchanged. We see 2024 as a transition year with continued
investments in both capacity ramp and technology. We currently see
strong developments in AI, driving most of the industry recovery
and growth, ahead of other market segments," said ASML President
and Chief Executive Officer Christophe Fouquet.
Update dividend and share buyback programAn
interim dividend of €1.52 per ordinary share will be made payable
on August 7, 2024.
In the second quarter, we purchased €96 million worth of shares
under the current 2022-2025 share buyback program.
Details of the share buyback program as well as transactions
pursuant thereto, and details of the dividend are published on
ASML's website (www.asml.com/investors).
Media
Relations contacts |
Investor
Relations contacts |
Monique Mols +31 6
5284 4418 |
Skip Miller +1 480
235 0934 |
Sarah de Crescenzo
+1 925 899 8985 |
Marcel Kemp +31 40
268 6494 |
Karen Lo +886
939788635 |
Peter Cheang +886 3
659 6771 |
Quarterly video interview and investor callWith
this press release, ASML has published a video interview in which
CEO Christophe Fouquet discusses the 2024 second-quarter results
and outlook for 2024. This video and the transcript can be viewed
on www.asml.com.
An investor call for both investors and the media will be hosted
by CEO Christophe Fouquet and CFO Roger Dassen on July 17, 2024 at
15:00 Central European Time / 09:00 US Eastern Time. Details can be
found on our website.
About ASMLASML is a leading supplier to the
semiconductor industry. The company provides chipmakers with
hardware, software and services to mass produce the patterns of
integrated circuits (microchips). Together with its partners, ASML
drives the advancement of more affordable, more powerful, more
energy-efficient microchips. ASML enables groundbreaking technology
to solve some of humanity's toughest challenges, such as in
healthcare, energy use and conservation, mobility and agriculture.
ASML is a multinational company headquartered in Veldhoven, the
Netherlands, with offices across EMEA, the US and Asia. Every day,
ASML’s more than 43,000 employees (FTE) challenge the status quo
and push technology to new limits. ASML is traded on Euronext
Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our
products, technology and career opportunities – at
www.asml.com.
US GAAP and IFRS Financial Reporting ASML's
primary accounting standard for quarterly earnings releases and
annual reports is US GAAP, the accounting principles generally
accepted in the United States of America. Quarterly US GAAP
Consolidated Statements of Operations, Consolidated Statements of
Cash Flows and Consolidated Balance Sheets are available on
www.asml.com.
The Consolidated Balance Sheets of ASML Holding N.V. as of
June 30, 2024, the related Consolidated Statements of
Operations and Consolidated Statements of Cash Flows for the
quarter and six-month period ended June 30, 2024 as presented
in this press release are unaudited.
Today, July 17, 2024, ASML also published its Statutory
Interim Report for the six-month period ended June 30, 2024. This
report is in accordance with the requirements of the EU
Transparency Directive as implemented in the Netherlands, and
includes Condensed Consolidated Interim Financial Statements
prepared in accordance with IAS 34 as adopted by the European Union
'Interim Financial Reporting', an Interim Management Report and a
Managing Directors' Statement and is available on www.asml.com.
Regulated informationThis press release
contains inside information within the meaning of Article 7(1) of
the EU Market Abuse Regulation.
Forward Looking StatementsThis document and
related discussions contain statements that are forward-looking
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995, including statements with respect to plans,
strategies, expected trends, including trends in the semiconductor
industry and end markets and business environment trends, expected
demand, lithography tool utilization and intensity, semiconductor
inventory levels, bookings, backlog, expected recovery and growth
in the semiconductor industry and expected drivers and timing
thereof including expected continued industry recovery in the
second half of 2024, plans to add and improve capacity, continued
investments in both capacity ramp and technology, outlook and
expected financial results, including expected results for Q3 2024,
including net sales, IBM sales, gross margin, R&D costs,
SG&A costs, outlook for the second half and full year 2024,
including expected strong second half of 2024 and expectations with
respect to full year 2024 total net sales, gross margin and
estimated annualized effective tax rate, expectations with respect
to sales by market segment and IBM sales and expected drivers
thereof, and other full year 2024 expectations, expectations with
respect to expected financial performance and growth in 2025 and
expected drivers thereof, statements made at our 2022 Investor Day,
including revenue and gross margin opportunity for 2025 and 2030,
statements with respect to export control policy and regulations
and expected impact on us, statements with respect to continued
execution of ESG sustainability strategy, our expectation to
continue to return significant amounts of cash to shareholders
through growing dividends and share buybacks, statements with
respect to our share buyback program, including the amount of
shares intended to be repurchased thereunder and statements with
respect to dividends, statements with respect to expected
performance and capabilities of our systems and customer plans and
other non-historical statements. You can generally identify these
statements by the use of words like “may”, “will”, “could”,
“should”, “project”, “believe”, “anticipate”, “expect”, “plan”,
“estimate”, “forecast”, “potential”, “intend”, “continue”,
“target”, “future”, “progress”, “goal”, “model”, “opportunity” and
variations of these words or comparable words. These statements are
not historical facts, but rather are based on current expectations,
estimates, assumptions, plans and projections about our business
and our future financial results and readers should not place undue
reliance on them. Forward-looking statements do not guarantee
future performance and involve a number of substantial known and
unknown risks and uncertainties. These risks and uncertainties
include, without limitation, customer demand, semiconductor
equipment industry capacity, worldwide demand for semiconductors
and semiconductor manufacturing capacity, lithography tool
utilization and semiconductor inventory levels, general trends and
consumer confidence in the semiconductor industry, the impact of
general economic conditions, including the impact of the current
macroeconomic environment on the semiconductor industry,
uncertainty around a market recovery, the impact of inflation,
interest rates, geopolitical developments, the impact of pandemics,
the performance of our systems, the success of technology advances
and the pace of new product development and customer acceptance of
and demand for new products, our production capacity and ability to
adjust capacity to meet demand, supply chain capacity, constraints
and logistics, timely availability of parts and components, raw
materials, critical manufacturing equipment and qualified
employees, constraints on our ability to produce systems to meet
demand, the number and timing of systems ordered, shipped and
recognized in revenue, risks relating to fluctuations in net
bookings, the risk of order cancellation or push outs and
restrictions on shipments of ordered systems under export controls,
risks relating to the trade environment, import/export and national
security regulations and orders and their impact on us, including
the impact of changes in export regulations and the impact of such
regulations on our ability to obtain necessary licenses and to sell
our systems and provide services to certain customers, exchange
rate fluctuations, changes in tax rates, available liquidity and
free cash flow and liquidity requirements, our ability to refinance
our indebtedness, available cash and distributable reserves for,
and other factors impacting, dividend payments and share
repurchases, the number of shares that we repurchase under our
share repurchase programs, our ability to enforce patents and
protect intellectual property rights and the outcome of
intellectual property disputes and litigation, our ability to meet
ESG goals and execute our ESG strategy, other factors that may
impact ASML’s business or financial results, and other risks
indicated in the risk factors included in ASML’s Annual Report on
Form 20-F for the year ended December 31, 2023 and other filings
with and submissions to the US Securities and Exchange Commission.
These forward-looking statements are made only as of the date of
this document. We undertake no obligation to update any
forward-looking statements after the date of this report or to
conform such statements to actual results or revised expectations,
except as required by law.
- Link to press release
- Link to consolidated financial statements
ASML Holding NV (NASDAQ:ASML)
Historical Stock Chart
Von Dez 2024 bis Jan 2025
ASML Holding NV (NASDAQ:ASML)
Historical Stock Chart
Von Jan 2024 bis Jan 2025