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Press Release

Earnings growth continues, driven by strong sales across full product portfolio

Continued EUV progress enables ASML roadmap acceleration

Veldhoven, the Netherlands, July 18, 2018

ASML Holding N.V. (ASML) today publishes its 2018 second-quarter results.

  • Q2 net sales of EUR 2.74 billion, net income EUR 584 million, gross margin 43.3%
  • ASML expects Q3 2018 net sales between EUR 2.7 billion and EUR 2.8 billion and a gross margin between 47% and 48%
(Figures in millions of euros unless otherwise indicated) Q1 2018 Q2 2018
Net sales 2,285 2,740
...of which Installed Base Management sales1 617 654
New lithography systems sold (units) 48 50
Used lithography systems sold (units) 1 8
Net bookings 2 2,442 1,952
Gross profit 1,113 1,187
Gross margin (%) 48.7 43.3
Net income 540 584
EPS (basic; in euros) 1.26 1.37
End-quarter cash and cash equivalents and short-term investments 3,194 2,980
1Installed Base Management sales equals our net service and field option sales.
2Net bookings do not include High-NA EUV orders.
A complete summary of US GAAP Consolidated Statements of Operations is published on


CEO statement

"Our second quarter sales were above expectations including higher than forecasted EUV sales. Gross margin was slightly above our guidance, reflecting the strength of our DUV and Applications business and progress in EUV profitability. In Q2 we shipped four EUV systems, one more than we forecasted, as Logic customers prepare for the ramp of next node devices starting later this year. We recognized revenue for seven EUV systems. We are on track to supply 20 EUV systems this year. Focused execution is enabling an acceleration of the availability and productivity roadmap. This will provide an even stronger foundation for our EUV business and will support a 2019 shipment plan of at least 30 systems. Our DUV business is driven by a memory market that continues to require a significant number of lithography systems at least throughout this year and into 2019. After an excellent first half of 2018, we expect the second half to be stronger, with improved profitability and continued growth from Q3 to Q4," said ASML President and Chief Executive Officer Peter Wennink.

Q2 product highlights
  • In our EUV program we have demonstrated four-week availability of well above 85% on a number of new NXE:3400B systems. We are executing several programs to improve consistent availability to over 90% in 2019 with further improvements planned in the years beyond.
  • In our DUV lithography business, we started shipment of the TWINSCAN NXT:2000i, which includes several hardware innovations that will enable on-product overlay of 2.5 nanometers in mix-and-match use with EUV for the 7 and 5 nanometer Logic nodes.


For the third-quarter of 2018, ASML expects net sales between EUR 2.7 billion and EUR 2.8 billion, a gross margin between 47% and 48%. R&D costs of about EUR 395 million, SG&A costs of about EUR 120 million. Our target effective annualized tax rate is around 14%.

Update share buyback program

As part of ASML’s financial policy to return excess cash to shareholders through dividends and regularly timed share buybacks, in January 2018 ASML announced its intention to purchase up to EUR 2.5 billion of shares to be executed within the 2018–2019 time frame. ASML intends to cancel these shares after repurchase, with the exception of up to 2.4 million shares which will be used to cover employee share plans.

Through July 1, 2018, ASML has acquired 2.6 million shares under this program for a total consideration of EUR 439 million.

The current program may be suspended, modified or discontinued at any time. All transactions under this program are published on ASML’s website on a weekly basis.

Investor and media conference call

A conference call for investors and media will be hosted by CEO Peter Wennink and CFO Roger Dassen at 15:00 Central European Time / 09:00 AM U.S. Eastern time. To register for the call and receive dial-in information, follow the link below. Listen-only access is also available via

About ASML

ASML is one of the world’s leading manufacturers of chip-making equipment. Our vision is a world in which semiconductor technology is everywhere and helps to tackle society’s toughest challenges. We contribute to this goal by creating products and services that let chipmakers define the patterns that integrated circuits are made of. We continuously raise the capabilities of our products, enabling our customers to increase the value and reduce the cost of chips. By helping to make chips cheaper and more powerful, we help to make semiconductor technology more attractive for a larger range of products and services, which in turn enables progress in fields such as healthcare, energy, mobility and entertainment. ASML is a multinational company with offices in more than 60 cities in 16 countries, headquartered in Veldhoven, the Netherlands. We employ more than 23,000 people on payroll and flexible contracts (expressed in full-time equivalents). ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. More information about ASML, our products and technology, and career opportunities is available on

Regulated information

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

US GAAP financial reporting

ASML's quarterly financial reporting is prepared in accordance with US GAAP, the accounting principles generally accepted in the United States of America. The consolidated balance sheets of ASML Holding N.V. as of March 31, 2019, the related consolidated statements of operations and consolidated statements of cash flows for the three months ended March 31, 2019 as presented in this press release are unaudited and available on

Forward-looking statements

This press release contains forward looking statements, which you can generally identify by the use of words like "may," "will," "expect," "contemplate," and variations of these words or comparable words. The forward looking statements contained herein include statements relating to the Memorandum of Understanding, the expectation of executing a definitive settlement and cross-license agreement and dismissal of all legal proceedings in February 2019 and the terms of such agreements and related matters. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections and you should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve risks and uncertainties. These risks and uncertainties include, without limitation, the risk that definitive agreements are not entered into within the expected time-frame indicated above or at all and risks relating to the terms of such agreements and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F and other filings with the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

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