On April 17th, ASML released its financial report for the first quarter of 2024. The quarter saw a net sales revenue of 5.29 billion euros (approximately 40.65 billion RMB), down 26.9% compared to the previous quarter. The gross profit margin was 51.0%, a decrease of 0.4 percentage points compared to the previous quarter. The net profit was 1.224 billion euros (approximately 9.41 billion RMB), down 40.2% compared to the previous quarter.
The net sales revenue fell within the expected revenue range, while the gross profit margin exceeded expectations, mainly due to higher revenue from immersion lithography machines and EUV business.
In the quarter, a total of 70 lithography machines were sold, including 66 new machines and 4 second-hand machines. Additionally, new orders amounted to 3.6 billion euros, with 656 million euros coming from the EUV business.
Over the past six months, ASML has accumulated new orders totaling nearly 13 billion euros.
ASML expects net sales revenue in the second quarter to be between 5.7 and 6.2 billion euros, with a gross profit margin of 50-51%. The company forecasts that its full-year revenue for 2024 will be roughly equivalent to that of 2023, as this year is considered an adjustment period.
ASML anticipates strong growth in 2025, with net sales revenue reaching 30-40 billion euros. The majority of sales will come from the low numerical aperture EUV lithography machine model NXE:3800, with the high numerical aperture model EXE:5200 also being introduced. This move is expected to significantly increase the average selling price and gross profit margin, which could reach 54-56%.
In terms of production capacity, ASML plans to expand its capacity to produce 90 low numerical aperture EUV machines and 600 DUV machines annually, with the medium-term goal of producing 20 high numerical aperture EUV machines per year.
