The following is a summary of the ASML Holding N.V. (ASML) Q2 2024 Earnings Call Transcript:

Financial Performance:

ASML reported Q4 2023 net sales of €7.2 billion, fueled by business in installed base and EUV systems.
Net system sales of €5.7 billion were largely spearheaded by Logic (63%) and Memory (37%).
Gross margin for the quarter was 51.4%, majorly driven by installed base business.
The net income in Q4 was €2 billion (28.3% of net sales), resulting in an EPS of €5.21.
ASML’s total net sales for the year 2023 grew 30% to €27.6 billion, with a gross margin of 51.3%.
Net income for 2023 was €7.8 billion (28.4% of net sales) yielding an EPS of €19.91.
ASML concluded 2023 with free cash flow generation of €3.2 billion and returned €3.3 billion to shareholders via dividends and share buybacks.
Looking forward to Q1 2024, ASML anticipates net sales between €5 billion and €5.5 billion, with a gross margin around 48%-49%.
ASML announced a total dividend for 2023 of €6.10 per ordinary share.

Business Progress:

ASML saw a strong order intake in Q4 2023 supporting future demand and possible recovery.
Investments are being made ready for anticipated demand boost in 2025.
A growth in revenue for EUV is expected in 2024 amid similar number of EUV low-NA systems recognised as 2023.
ASML’s non-EUV business anticipates a decline in 2024, largely due to lower immersion sales.
Increased adoption of High-NA lithography seen as a more cost-effective solution by customers.
The company remains committed to investing in innovation, evidenced by €4 billion R&D spending in 2023.
The firm continues to see strong demand from China, notwithstanding the impacts of export regulations.
Preparations are under way to capitalize on future growth drivers such as energy transition electrification and AI.