ASML reports €6.9 billion net sales and €1.9 billion net income in Q2 2023
Incremental DUV revenue drives expected 2023 sales growth towards 30%
VELDHOVEN, the Netherlands, July 19, 2023 – Today ASML Holding NV (ASML) has published its 2023 second-quarter results.
- Q2 net sales of €6.9 billion, gross margin of 51.3%, net income of €1.9 billion
- Quarterly net bookings in Q2 of €4.5 billion2 of which €1.6 billion is EUV
- ASML expects Q3 2023 net sales between €6.5 billion and €7.0 billion and a gross margin of around 50%
- ASML expects 2023 net sales growth towards 30% compared to 2022
| (Figures in millions of euros unless otherwise indicated) | Q1 2023 | Q2 2023 |
| Net sales | 6,746 | 6,902 |
| ...of which Installed Base Management sales1 | 1,404 | 1,296 |
| New lithography systems sold (units) | 96 | 107 |
| Used lithography systems sold (units) | 4 | 6 |
| Net bookings2 | 3,752 | 4,500 |
| Gross profit | 3,413 | 3,544 |
| Gross margin (%) | 50.6 | 51.3 |
| Net income | 1,956 | 1,942 |
| EPS (basic; in euros) | 4.96 | 4.93 |
| End-quarter cash and cash equivalents and short-term investments | 6,653 | 6,346 |
(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 net sales came in at €6.9 billion, at the high end of our guidance, with a gross margin of 51.3%, higher than guided, primarily driven by additional DUV immersion revenue in the quarter.
"Our customers across different market segments are currently more cautious due to continued macro-economic uncertainties, and therefore expect a later recovery of their markets. Also, the shape of the recovery slope is still unclear. However, our strong backlog of around €38 billion provides us with a good basis to navigate these short-term uncertainties.
"We expect third-quarter net sales between €6.5 billion and €7.0 billion with a gross margin of around 50%. ASML expects R&D costs of around €1.0 billion and SG&A costs of around €285 million. Due to strong DUV revenue and despite the increased uncertainties, ASML expects strong growth for 2023 with a net sales increase towards 30% and a slight improvement in gross margin, relative to 2022," said ASML President and Chief Executive Officer Peter Wennink.
Update dividend and share buyback program
An interim dividend of €1.45 per ordinary share will be made payable on August 10, 2023.
In the second quarter we purchased around €500 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).
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| Sarah de Crescenzo +1 925 899 8985 | Marcel Kemp +31 40 268 6494 |
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