ASML reports €6.7 billion net sales and €2.0 billion net income in Q1 2023
Sales growth expectations for 2023 unchanged
VELDHOVEN, the Netherlands, April 19, 2023 – today ASML Holding NV (ASML) has published its 2023 first-quarter results.
- Q1 net sales of €6.7 billion, gross margin of 50.6%, net income of €2.0 billion
- Quarterly net bookings in Q1 of €3.8 billion2 of which €1.6 billion is EUV
- ASML expects Q2 2023 net sales between €6.5 billion and €7.0 billion and a gross margin between 50% and 51%
- ASML expects 2023 net sales to grow over 25% compared to 2022
| (Figures in millions of euros unless otherwise indicated) | Q4 2022 | Q1 2023 |
| Net sales | 6,430 | 6,746 |
| ...of which Installed Base Management sales 1 | 1,682 | 1,404 |
| New lithography systems sold (units) | 95 | 96 |
| Used lithography systems sold (units) | 11 | 4 |
| Net bookings 2 | 6,316 | 3,752 |
| Gross profit | 3,311 | 3,413 |
| Gross margin (%) | 51.5 | 50.6 |
| Net income | 1,817 | 1,956 |
| EPS (basic; in euros) | 4.60 | 4.96 |
| End-quarter cash and cash equivalents and short-term investments | 7,376 | 6,653 |
(1) Installed Base Management sales equals our net service and field option sales
(2) Net bookings include all system sales orders and inflation related adjustments, for which written authorizations have been accepted.
Numbers have been rounded for readers' convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com
CEO statement and outlook
"Our first-quarter net sales came in at €6.7 billion with a gross margin of 50.6% – both above our guidance due to higher than expected EUV and DUV revenue from faster installation and earlier acceptance of systems in the quarter.
"We continue to see mixed signals on demand from the different end-market segments as the industry works to bring inventory to more healthy levels. Some major customers are making further adjustments to demand timing while we also see other customers absorbing this demand change, particularly in DUV at more mature nodes. The overall demand still exceeds our capacity for this year and we currently have a backlog of over €38.9 billion. Our focus continues to be on maximizing system output.
