ASML Holding NV (AMSL.NL), the Dutch leader in semiconductor equipment, reported its Q4 2024 and full-year results on January 29, 2025. The company delivered better-than-expected performance, despite recent market turbulence sparked by concerns over AI-related demand shifts.
Key Highlights
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile appQ4 2024 Performance
- Net Sales: €9.26 billion (above €9.07 billion consensus).
- Net Income: €2.69 billion (beat €2.64 billion forecast).
- Gross Margin: 51.7%, exceeding guidance and reflecting operational efficiency.
- Net Bookings: €7.1 billion, up 169% from Q3, with €3.0 billion from EUV systems.
Full-Year 2024 Results
- Total Net Sales: €28.3 billion, up from €27.6 billion in 2023.
- Net Income: €7.6 billion, reflecting strong profitability.
- Gross Margin: 51.3%.
- Lithography Systems Sold: 380 units (119 in Q4).
2025 Guidance
- Q1 2025 Net Sales: €7.5–8.0 billion, with gross margins at 52–53%.
- Full-Year 2025 Net Sales: €30–35 billion, supported by AI growth and robust order momentum.
Dividend Update
- ASML proposes a total dividend for 2024 of €6.40 per share, a 4.9% increase year-over-year.
- Interim dividend of €1.52 per share payable on February 19, 2025.
CEO Commentary
Christophe Fouquet, President and CEO of ASML, highlighted the company`s strong Q4 results, driven by robust demand for EUV and upgrades to High-NA EUV systems. He acknowledged challenges in customer dynamics caused by the rise of cost-efficient AI models, such as DeepSeek, but reaffirmed ASML`s commitment to innovation and adaptability.
“The growth in artificial intelligence remains a key driver for our industry, but it is creating both opportunities and risks for our customers, as reflected in our 2025 revenue range.”
Market Impact and Analyst Insights
- ASML`s net bookings surged to €7.1 billion in Q4, far surpassing analyst expectations of €3.99 billion.
- The company`s EUV bookings (€3.0 billion) highlight continued reliance on advanced chip-making technologies, despite concerns about evolving AI demand.
- Analysts praised ASML for its resilient performance amid shifting market dynamics.
Challenges:
- Concerns remain about long-term demand for EUV systems due to the potential disruption caused by Chinese AI models like DeepSeek.
- Geopolitical tensions and export restrictions could limit growth in the Chinese market.
Opportunities:
- ASML`s monopoly on EUV technology and its strong recurring revenue streams from Installed Base Management provide a stable foundation for growth.
Earnings Call Details:
- Date: January 29, 2025
- Time: 3:00 PM CET (9:00 AM ET)
For ASML the cash session has not yet started. However, the stock is gaining up to 8% in pre-market trading on some exchanges, suggesting an opening of spot trading even in the region of €700 per share.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
