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ASML Holding NV (ASML), a global leader in semiconductor technology solutions, has announced its financial performance for the first quarter of 2024, along with insights into its future outlook. Here are the key highlights from ASML's latest report:
Key financial metrics
Total net sales for Q1 reached €5.3 billion, in line with the company's guidance.
The gross margin stood at an impressive 51.0%, exceeding expectations primarily due to favorable product mix and one-off factors.
Net income for the quarter amounted to €1.2 billion, reflecting ASML's strong profitability.
ASML reported quarterly net bookings of €3.6 billion, indicating robust demand for its products and services.
Notably, €656 million of the total bookings were attributed to Extreme Ultraviolet (EUV) technology, highlighting continued interest in ASML's advanced solutions.
Outlook for Q2 2024
ASML expects total net sales for the second quarter of 2024 to range between €5.7 billion and €6.2 billion.
The company anticipates a gross margin between 50% and 51% for the same period.
Projected Research and Development (R&D) costs are estimated to be around €1,070 million, with Selling, General, and Administrative (SG&A) costs expected to be approximately €295 million.
CEO Statement and Full-Year Outlook:
ASML President and CEO, Peter Wennink, commented on the Q1 results and provided insights into the company's outlook for the remainder of 2024. Wennink stated,
Details of the Dividend and Share Buyback Program
ASML intends to declare a total dividend of €6.10 per ordinary share for the year 2023, representing a 5.2% increase compared to 2022.
A final dividend proposal of €1.75 per ordinary share will be presented at the Annual General Meeting.
In the first quarter, ASML repurchased approximately €400 million worth of shares under its ongoing 2022-2025 share buyback program.
ASML's Q1 2024 results and forward-looking statements underscore the company's resilience and commitment to driving innovation in the semiconductor industry. With a strong financial performance and strategic initiatives in place, ASML is well-positioned to capitalize on emerging opportunities and deliver sustainable value to its stakeholders.
