Q2 2025 ASML Holding NV Earnings Call Transcript
Key Points
- ASML Holding NV (ASML) reported total net sales of EUR7.7 billion for Q2 2025, reaching the upper end of their guidance.
- The company's gross margin for the quarter was above guidance at 53.7%, driven by increased upgrade business and lower-than-expected tariff impacts.
- Net income for Q2 was EUR2.3 billion, representing 29.8% of total net sales, with earnings per share of EUR5.90.
- ASML Holding NV (ASML) expects a 30% increase in EUV capacity in 2025 compared to 2024, driven by higher productivity of the NXE:3800E systems.
- The company anticipates a 15% revenue increase for the full year 2025, with a gross margin of around 52%.
- ASML Holding NV (ASML) faces increasing uncertainties due to macroeconomic and geopolitical developments, impacting customer capital expenditure timing.
- The gross margin in the second half of 2025 is expected to be lower than the first half, primarily due to the margin dilutive effect of High NA systems.
- There is a EUR1.4 billion adjustment in the backlog related to customer responses to export restrictions, affecting Deep UV and application business.
- The company has not confirmed growth for 2026 due to ongoing uncertainties, despite preparing for potential growth.
- ASML Holding NV (ASML) is experiencing a shift in demand dynamics, with China accounting for over 25% of total revenue, raising concerns about potential pull-forwards.
Thank you for standing by. Welcome to the ASML 2025 second-quarter financial results conference call on July 16, 2025. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to have the conference call over to Mr. Jim Kavanagh. Please go ahead.
Thank you, operator. Welcome, everyone. This is Jim Kavanagh, Vice President of Investor Relations at ASML. Joining me today on the call are ASML's CEO, Christophe Fouquet; and our CFO, Roger Dassen.
The subject of today's call is ASML's 2025 second-quarter results. The length of this call will be 60 minutes, and questions will be taken in the order that they are received. This call is also being broadcast live over the Internet at www.asml.com. A transcript of management's opening remarks and a replay of the call will be available on our website shortly following the conclusion of this call.
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