Wednesday, April 19th 2023
ASML Announces 2023 First Quarter Financial Results
Today, ASML Holding NV (ASML) has published its 2023 first quarter results.
The company reported Q1 net sales of €6.7 billion, with gross margin of 50.6%, and net income of €2.0 billion. Quarterly net bookings in Q1 2023 were at €3.8 billion of which €1.6 billion is EUV. ASML expects Q2 2023 net sales between €6.5 billion and €7.0 billion and a gross margin between 50% and 51%. ASML expects 2023 net sales to grow over 25% compared to 2022.
CEO statement and outlook
"Our first-quarter net sales came in at €6.7 billion with a gross margin of 50.6% - both above our guidance due to higher than expected EUV and DUV revenue from faster installation and earlier acceptance of systems in the quarter.
"We continue to see mixed signals on demand from the different end-market segments as the industry works to bring inventory to more healthy levels. Some major customers are making further adjustments to demand timing while we also see other customers absorbing this demand change, particularly in DUV at more mature nodes. The overall demand still exceeds our capacity for this year and we currently have a backlog of over €38.9 billion. Our focus continues to be on maximizing system output.
"We expect second-quarter net sales between €6.5 billion and €7.0 billion with a gross margin between 50% and 51%. ASML expects R&D costs of around €990 million and SG&A costs of around €275 million For 2023, ASML expects continued strong growth with a net sales increase of over 25% and a slight improvement in gross margin, relative to 2022," said ASML President and Chief Executive Officer Peter Wennink.
Update share buyback program and dividend proposal
In the first quarter we purchased around €400 million worth of shares under the current 2022-2025 program.
ASML intends to declare a total dividend for the year 2022 of €5.80 per ordinary share, which is a 5.5% increase compared to 2021. Recognizing the three interim dividends of €1.37 per ordinary share each paid in 2022 and 2023, this leads to a final dividend proposal to the Annual General Meeting of €1.69 per ordinary share.
Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend proposal are published on ASML's website.
Source:
ASML
The company reported Q1 net sales of €6.7 billion, with gross margin of 50.6%, and net income of €2.0 billion. Quarterly net bookings in Q1 2023 were at €3.8 billion of which €1.6 billion is EUV. ASML expects Q2 2023 net sales between €6.5 billion and €7.0 billion and a gross margin between 50% and 51%. ASML expects 2023 net sales to grow over 25% compared to 2022.
"Our first-quarter net sales came in at €6.7 billion with a gross margin of 50.6% - both above our guidance due to higher than expected EUV and DUV revenue from faster installation and earlier acceptance of systems in the quarter.
"We continue to see mixed signals on demand from the different end-market segments as the industry works to bring inventory to more healthy levels. Some major customers are making further adjustments to demand timing while we also see other customers absorbing this demand change, particularly in DUV at more mature nodes. The overall demand still exceeds our capacity for this year and we currently have a backlog of over €38.9 billion. Our focus continues to be on maximizing system output.
"We expect second-quarter net sales between €6.5 billion and €7.0 billion with a gross margin between 50% and 51%. ASML expects R&D costs of around €990 million and SG&A costs of around €275 million For 2023, ASML expects continued strong growth with a net sales increase of over 25% and a slight improvement in gross margin, relative to 2022," said ASML President and Chief Executive Officer Peter Wennink.
Update share buyback program and dividend proposal
In the first quarter we purchased around €400 million worth of shares under the current 2022-2025 program.
ASML intends to declare a total dividend for the year 2022 of €5.80 per ordinary share, which is a 5.5% increase compared to 2021. Recognizing the three interim dividends of €1.37 per ordinary share each paid in 2022 and 2023, this leads to a final dividend proposal to the Annual General Meeting of €1.69 per ordinary share.
Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend proposal are published on ASML's website.
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