ASML Q2 Revenue €6.243B, €2.5B in New EUV Orders

On July 17, ASML announced its Q2 2024 financial results, highlighting substantial growth and robust performance. The company achieved net sales of €6.243 billion (approximately $6.807 billion), with a gross margin of 51.5% and a net profit of €1.6 billion. New orders for the second quarter totaled €5.567 billion, including €2.5 billion in EUV lithography machine orders.

Sales in China accounted for 49% of ASML's global net system sales, maintaining the same level as the previous quarter. ASML's President and CEO, Christophe Fouquet, stated, "Our Q2 net sales of €6.243 billion were at the high end of our forecast range, with a gross margin of 51.5%, surpassing our expectations. This success was driven by increased sales of immersion systems and a favorable product mix."

As of the end of Q2 2024, ASML's total backlog reached €39 billion. In advanced lithography, ASML shipped new NXE:3800E systems for 0.33 numerical aperture EUV lithography and continued to ramp up capacity, with most H2 shipments expected to be NXE:3800E systems. For the 0.55 High NA EUV lithography systems, ASML delivered its second system in Q2. The first system is undergoing wafer qualification tests at the customer's facility, while the second is being smoothly assembled.

Looking ahead, Fouquet expects Q3 net sales to be between €6.7 billion and €7.3 billion, with €1.4 billion from installed base management, and a gross margin between 50% and 51%. The full-year outlook remains unchanged, with overall revenue expected to be similar to 2023.

Regarding ASML's future, Fouquet anticipates the semiconductor industry will enter an upward cycle in 2025, driven by strong AI development, leading to many new fabs becoming operational worldwide. Fouquet remarked, "We are focusing on future growth and capacity readiness. As noted during our November 2022 Investor Day, we project our net sales to reach €30 billion to €40 billion by 2025 and €44 billion to €60 billion by 2030."