ASML announces 2023Q2 financial report, Orders for DUV lithography equipment surge

ASML has announced its financial results for the second quarter of 2023, reporting net sales of 6.9 billion euros, a gross margin of 51.3%, and a net profit of 1.9 billion euros.

During the second quarter of 2023, the net bookings amounted to 4.5 billion euros, of which 1.6 billion euros were derived from EUV systems. Throughout this quarter, ASML purchased shares worth about 500 million euros in line with its 2022-2025 share buyback program. Additionally, an interim dividend of 1.45 euros per ordinary share is set to be paid on August 10, 2023.

ASML’s Chief Executive Officer, Peter Wennick, remarked that the net sales for the second quarter of 2023 are relatively high within the expected range, and the gross margin also exceeded expectations, largely due to the additional DUV system revenue within the quarter. Amidst the macroeconomic environment replete with ongoing uncertainties, customers in various market segments are becoming more cautious, with the widespread expectation that the market will rebound later this year. Currently, ASML still has a significant backlog of orders, with a total value of about 38 billion euros.

ASML anticipates net sales between 6.5 billion and 7 billion euros in the third quarter of 2023, with a gross margin of approximately 50%, R&D expenses of about 1 billion euros, and SG&A costs of about 285 million euros. Peter Wennick stated that despite the prevalent uncertainties, strong revenues from the DUV systems suggest that ASML is still set for robust growth in 2023, with a 30% increase in net sales and a slight improvement in gross margin compared to 2022.