ASML (ASML) Q4 2024 Investor Call earnings summary

Executive summary

• Q4 2024 net sales reached €9.3 billion, exceeding guidance, driven by upgrades and High-NA EUV system recognitions.

• Full-year 2024 net sales were €28.3 billion, gross margin 51.3%, and net income €7.6 billion; EPS was €19.25.

• Returned €3 billion to shareholders via dividends and buybacks; total 2024 dividend proposed at €6.40 per share.

• Technology milestones included successful launches and customer acceptance of new EUV and DUV systems, including High-NA and NXT:2150i.

• Artificial intelligence growth is a key industry driver, creating both opportunities and risks for customer segments.

Financial highlights

• Q4 net system sales were €7.1 billion (EUV: €2.9–3.0 billion, non-EUV: €4.1–4.2 billion); Q4 net income was €2.7 billion, EPS €6.85.

• Q4 gross margin was 51.7%, above guidance, aided by upgrade business and lower costs on new product introductions.

• Full-year EUV system sales were €8.3 billion (44 systems), down 9% YoY; DUV system sales grew 4% to €12.8 billion (374 systems).

• Installed base management sales for 2024 were €6.5 billion, up 16% YoY.

• Cash and equivalents at year-end: €12.7 billion.

Outlook and guidance

• Q1 2025 net sales expected between €7.5–8 billion; gross margin 52–53%.

• Full-year 2025 revenue expected between €30–35 billion, gross margin 51–53%.

• Installed base management sales in Q1 2025 expected at €2.1 billion.

• Dividend for 2024 proposed at €6.40 per share, with a final dividend of €1.84 per share.

• 2030 revenue opportunity projected at €44–60 billion, gross margin 56–66%.