Today, ASML Holding NV (ASML) has published its 2023 fourth quarter and full-year results.
CEO statement and outlook
"Our fourth-quarter net sales came in at €7.2 billion with a gross margin of 51.4%, both slightly above our guidance. ASML achieved another strong year in 2023 with 30% growth, ending with total net sales for the year of €27.6 billion, a gross margin of 51.3% and a backlog of €39 billion. We shipped the first modules of the first High NA EUV system, EXE:5000, to a customer before the end of the year."
"The semiconductor industry continues to work through the bottom of the cycle. Although our customers are still not certain about the shape of the semiconductor market recovery this year, there are some positive signs. Industry end-market inventory levels continue to improve and litho tool utilization levels are beginning to show improvement. Our strong order intake in the fourth quarter clearly supports future demand.
"We expect first-quarter net sales between €5.0 billion and €5.5 billion with a gross margin between 48% and 49%. ASML expects R&D costs of around €1,070 million and SG&A costs of around €300 million. In spite of the positive signs as described above, we maintain our conservative view for the total year and expect 2024 revenue to be similar to 2023. We also expect 2024 to be an important year to prepare for significant growth that we expect for 2025," said ASML President and Chief Executive Officer Peter Wennink.
Update dividend and share buyback program
ASML intends to declare a total dividend for the year 2023 of €6.10 per ordinary share, which is a 5.2% increase compared to 2022. An interim dividend of €1.45 per ordinary share will be made payable on February 14, 2024. Recognizing this interim dividend and the two interim dividends of €1.45 per ordinary share paid in 2023, this leads to a final dividend proposal to the General Meeting of €1.75 per ordinary share.
In the fourth quarter we did not purchase any shares under the current 2022-2025 share buyback program.
Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend are published on ASML's website.
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- Q4 net sales of €7.2 billion, gross margin of 51.4%, net income of €2.0 billion
- Quarterly net bookings in Q4 of €9.2 billion of which €5.6 billion is EUV
- 2023 net sales of €27.6 billion, gross margin of 51.3%, net income of €7.8 billion
- ASML expects 2024 net sales to be similar to 2023
- ASML expects Q1 2024 net sales between €5.0 billion and €5.5 billion and a gross margin between 48% and 49%
CEO statement and outlook
"Our fourth-quarter net sales came in at €7.2 billion with a gross margin of 51.4%, both slightly above our guidance. ASML achieved another strong year in 2023 with 30% growth, ending with total net sales for the year of €27.6 billion, a gross margin of 51.3% and a backlog of €39 billion. We shipped the first modules of the first High NA EUV system, EXE:5000, to a customer before the end of the year."
"The semiconductor industry continues to work through the bottom of the cycle. Although our customers are still not certain about the shape of the semiconductor market recovery this year, there are some positive signs. Industry end-market inventory levels continue to improve and litho tool utilization levels are beginning to show improvement. Our strong order intake in the fourth quarter clearly supports future demand.
"We expect first-quarter net sales between €5.0 billion and €5.5 billion with a gross margin between 48% and 49%. ASML expects R&D costs of around €1,070 million and SG&A costs of around €300 million. In spite of the positive signs as described above, we maintain our conservative view for the total year and expect 2024 revenue to be similar to 2023. We also expect 2024 to be an important year to prepare for significant growth that we expect for 2025," said ASML President and Chief Executive Officer Peter Wennink.
Update dividend and share buyback program
ASML intends to declare a total dividend for the year 2023 of €6.10 per ordinary share, which is a 5.2% increase compared to 2022. An interim dividend of €1.45 per ordinary share will be made payable on February 14, 2024. Recognizing this interim dividend and the two interim dividends of €1.45 per ordinary share paid in 2023, this leads to a final dividend proposal to the General Meeting of €1.75 per ordinary share.
In the fourth quarter we did not purchase any shares under the current 2022-2025 share buyback program.
Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend are published on ASML's website.
View at TechPowerUp Main Site | Source
