ASML reports EUR5.3 billion total net sales and EUR1.2 billion net income in Q1 2024
2024 outlook unchanged
VELDHOVEN, the Netherlands, April 17, 2024 — Today, ASML Holding NV (ASML) has published its 2024 first-quarter results.
-- Q1 total net sales of EUR5.3 billion, gross margin of 51.0%, net income
of EUR1.2 billion
-- Quarterly net bookings in Q1 of EUR3.6 billion2 of which EUR656 million
is EUV
-- ASML expects Q2 2024 total net sales between EUR5.7 billion and EUR6.2
billion, and a gross margin between 50% and 51%
-- ASML expects 2024 total net sales to be similar to 2023
(Figures in millions of euros
unless otherwise indicated) Q4 2023 Q1 2024
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Total net sales 7,237 5,290
...of which Installed Base Management
sales(1) 1,555 1,324
New lithography systems sold
(units) 113 66
Used lithography systems sold
(units) 11 4
Net bookings(2) 9,186 3,611
Gross profit 3,717 2,697
Gross margin (%) 51.4 51.0
Net income 2,048 1,224
EPS (basic; in euros) 5.21 3.11
End-quarter cash and cash equivalents
and short-term investments 7,010 5,406
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(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
CEO statement and outlook
“Our first-quarter total net sales came in at EUR5.3 billion, at the midpoint of our guidance, with a gross margin of 51.0% which is above guidance, primarily driven by product mix and one-offs.
“We expect second-quarter total net sales between EUR5.7 billion and EUR6.2 billion with a gross margin between 50% and 51%. ASML expects R&D costs of around EUR1,070 million and SG&A costs of around EUR295 million. Our outlook for the full year 2024 is unchanged, with the second half of the year expected to be stronger than the first half, in line with the industry’s continued recovery from the downturn. We see 2024 as a transition year with continued investments in both capacity ramp and technology, to be ready for the turn in the cycle,” said ASML President and Chief Executive Officer Peter Wennink.
Update dividend and share buyback program
ASML intends to declare a total dividend for the year 2023 of EUR6.10 per ordinary share, which is a 5.2% increase compared to 2022. Recognizing the three interim dividends of EUR1.45 per ordinary share paid in 2023 and 2024, this leads to a final dividend proposal to the Annual General Meeting of EUR1.75 per ordinary share.
In the first quarter, we purchased around EUR400 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 ().
Media Relations contacts Investor Relations contacts Monique Mols +31 6 5284 4418 Skip Miller +1 480 235 0934 Sarah de Crescenzo +1 925 899 Marcel Kemp +31 40 268 6494 8985 Karen Lo +886 939788635 Peter Cheang +886 3 659 6771
Quarterly video interview and investor call
With this press release, ASML has published a video interview in which CFO Roger Dassen discusses the 2024 first-quarter results and outlook for 2024. This video and the transcript can be viewed on .
An investor call for both investors and the media will be hosted by CEO Peter Wennink, CFO Roger Dassen and incoming CEO Christophe Fouquet on April 17, 2024 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.
About ASML
ASML 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 42,700 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 .
US GAAP 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 .
The Consolidated Balance Sheets of ASML Holding N.V. as of March 31, 2024, the related Consolidated Statements of Operations and Consolidated Statements of Cash Flows for the quarter and three months ended March 31, 2024 as presented in this press release are unaudited.