Q1 2025 ASML Holding NV Earnings Call Transcript
Key Points
- ASML Holding NV (ASML) reported total net sales of EUR7.7 billion for Q1 2025, in line with guidance.
- The company achieved a gross margin of 54%, exceeding expectations due to favorable EUV product mix and customer productivity milestones.
- Net income for Q1 2025 was EUR2.4 billion, representing 30.4% of total net sales, with an earnings per share of EUR6.
- ASML Holding NV (ASML) continues to see strong demand in the AI sector, which is expected to drive growth in 2025 and 2026.
- The company is making significant progress in EUV technology, with milestones achieved in both low NA and high NA platforms, supporting customer roadmaps and cost optimization.
- ASML Holding NV (ASML) experienced a negative free cash flow of EUR475 million in Q1 2025 due to customer payment dynamics and investments in fixed assets.
- There is increased uncertainty in the business environment due to ongoing discussions about tariffs, which could impact ASML Holding NV (ASML) and its customers.
- The gross margin for the second half of 2025 is expected to be lower than the first half due to potential tariff impacts and lower upgrade revenue.
- ASML Holding NV (ASML) faces challenges with the geopolitical situation, particularly regarding tariffs that could affect the semiconductor supply chain.
- The company anticipates a wider range of gross margins for Q2 2025 due to uncertainties around tariffs and their absorption in the value chain.
Good day and thank you for standing by. Welcome to the ASML 2025 first quarter financial results conference call on April 16, 2025. (Operator instructions) Please be advised that today's conference is being recorded.
I would now like to turn 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 first 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.
Before we begin, I
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