2024 expected to be a transition year with sales similar to 2023
VELDHOVEN, the Netherlands, January 24, 2024 — Today, ASML Holding NV (ASML) has published its 2023 fourth-quarter and full-year results.
-- Q4 net sales of EUR7.2 billion, gross margin of 51.4%, net income of EUR2.0 billion -- Quarterly net bookings in Q4 of EUR9.2 billion2 of which EUR5.6 billion is EUV -- 2023 net sales of EUR27.6 billion, gross margin of 51.3%, net income of EUR7.8 billion -- ASML expects 2024 net sales to be similar to 2023 -- ASML expects Q1 2024 net sales between EUR5.0 billion and EUR5.5 billion and a gross margin between 48% and 49% (Figures in millions of euros unless otherwise indicated) Q3 2023 Q4 2023 FY 2022 FY 2023 ---------------------- ------- --- ------- --- ------- --- ------- --- Net sales 6,673 7,237 21,173 27,559 ...of which Installed Base Management sales(1) 1,365 1,555 5,743 5,620 New lithography systems sold (units) 105 113 317 421 Used lithography systems sold (units) 7 11 28 28 Net bookings 2,602 (2) 9,186 (2) 30,674 (3) 20,040 (3) Gross profit 3,462 3,717 10,700 14,136 Gross margin (%) 51.9 51.4 50.5 51.3 Net income 1,893 2,048 5,624 7,839 EPS (basic; in euros) 4.81 5.21 14.14 19.91 End-quarter cash and cash equivalents and short-term investments 4,981 7,010 7,376 7,010 ------- ------- ------- ------- ---
(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.
(3) The sum of quarterly net bookings over the full year.
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 fourth-quarter net sales came in at EUR7.2 billion with a gross margin of 51.4%, both slightly above our guidance.
“ASML achieved another strong year in 2023 with 30% growth, ending with total net sales for the year of EUR27.6 billion, a gross margin of 51.3% and a backlog of EUR39 billion. We shipped the first modules of the first High NA EUV system, EXE:5000, to a customer before the end of the year.
“The semiconductor industry continues to work through the bottom of the cycle. Although our customers are still not certain about the shape of the semiconductor market recovery this year, there are some positive signs. Industry end-market inventory levels continue to improve and litho tool utilization levels are beginning to show improvement. Our strong order intake in the fourth quarter clearly supports future demand.
“We expect first-quarter net sales between EUR5.0 billion and EUR5.5 billion with a gross margin between 48% and 49%. ASML expects R&D costs of around EUR1,070 million and SG&A costs of around EUR300 million. In spite of the positive signs as described above, we maintain our conservative view for the total year and expect 2024 revenue to be similar to 2023. We also expect 2024 to be an important year to prepare for significant growth that we expect for 2025,” 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. An interim dividend of EUR1.45 per ordinary share will be made payable on February 14, 2024. Recognizing this interim dividend and the two interim dividends of EUR1.45 per ordinary share paid in 2023, this leads to a final dividend proposal to the General Meeting of EUR1.75 per ordinary share.
In the fourth quarter we did not purchase any 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, investor call and annual press conference
With this press release, ASML has published a video interview in which CFO Roger Dassen discusses the 2023 fourth-quarter and full-year results and outlook for 2024. This video and the transcript can be viewed on .
CEO Peter Wennink and CFO Roger Dassen will host a press conference in Veldhoven on January 24, 2024, at 11:00
Central European Time, which will also be accessible via a live webcast on .
An investor call for both investors and the media will be hosted by CEO Peter Wennink and CFO Roger Dassen on January 24, 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 42,400 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 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 .
The Consolidated Balance Sheets of ASML Holding N.V. as of December 31, 2023, the related Consolidated Statements of Operations and Consolidated Statements of Cash Flows for the quarter and twelve months ended December 31, 2023 as presented in this press release are unaudited.
In addition to reporting financial figures in accordance with US GAAP, ASML also reports financial figures in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS’) for statutory purposes. The most significant recurring differences between US GAAP and IFRS that affect ASML concerns the capitalization of certain product development costs and accounting for income taxes.
2023 Annual Reports
ASML will publish its 2023 Annual Report based on US GAAP and its 2023 Annual Report based on IFRS on February 14, 2024. The reports and introductory video with CFO Roger Dassen will be published on our website, .