ASML announces 2023Q3 financial report

ASML, the distinguished Dutch semiconductor company, disclosed its financial results for the third quarter of 2023, revealing a net sales revenue of 6.7 billion euros. The gross margin stood at a commendable 51.9%, with the net profit amounting to 1.9 billion euros.

For Q3 2023, the net order intake reached 2.6 billion euros, of which 500 million euros was attributed to the EUV systems. Within this quarter, in alignment with the ongoing stock repurchase program for the period 2022-2025, ASML acquired shares valued at approximately 100 million euros. Moreover, an interim dividend of 1.45 euros per ordinary share is set to be disbursed on November 10, 2023.

Image: ASML

ASML’s Chief Executive Officer, Peter Wennick, noted that the net sales for Q3 2023 comfortably nestled within the projected spectrum, with the gross margin of 51.9% surpassing expectations. This boon was primarily attributed to the influence of the DUV product mix and certain non-recurring costs during the quarter. Currently, the semiconductor industry is navigating the troughs of its cyclical pattern. A potential inflection point is anticipated towards the end of this year; however, the trajectory of the revival remains nebulous. Consequently, 2024 is forecasted to be a transitional phase, with revenues mirroring those of 2023, thus laying the groundwork for a notable ascent in 2025.

For the fourth quarter of 2023, ASML anticipates net sales to oscillate between 6.7 billion euros and 7.1 billion euros, maintaining a gross margin bracketed between 50% and 51%. Expenditures on research and development are projected to touch 1.03 billion euros, while SG&A costs are approximated at 285 million euros. Peter Wennick avowed ASML’s affirmation of robust growth expectations for 2023, with net sales witnessing an elevation nearing 30%, and a slight enhancement in the gross margin compared to 2022.