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Press release

ASML reports €5.2 billion net sales and €1.7 billion net income in Q3 2021

Expected growth for 2021 to approach 35%

Veldhoven, the Netherlands, October 20, 2021

Today, ASML Holding NV (ASML) has published its 2021 third-quarter results.

  • Q3 net sales of €5.2 billion, gross margin of 51.7%, net income of €1.7 billion

  • Q3 net bookings of €6.2 billion

  • ASML expects Q4 2021 net sales between €4.9 billion and €5.2 billion and a gross margin between 51% and 52%

(Figures in millions of euros unless otherwise indicated) Q2 2021 Q3 2021
Net sales 4,020 5,241
...of which Installed Base Management sales 1 1,071 1,130
     
New lithography systems sold (units) 69 72
Used lithography systems sold (units) 3 7
     
Net bookings 2 8,271 6,179
     
Gross profit 2,045 2,711
Gross margin (%) 50.9 51.7
     
Net income 1,038 1,740
EPS (basic; in euros) 2.52 4.27
     
End-quarter cash and cash equivalents and short-term investments 5,374 4,456

(1) Installed Base Management sales equals our net service and field option sales.

(2) Our systems net bookings include all system sales orders for which written authorizations have been accepted (for EUV excluding the EUV 0.55 NA (High-NA) systems).

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 third-quarter net sales came in at €5.2 billion with a gross margin of 51.7%, both within our guidance. Our third-quarter net bookings came in at €6.2 billion, including €2.9 billion from EUV systems.


"The demand continues to be high. The ongoing digital transformation and current chip shortage fuel the need to increase our capacity to meet the current and expected future demand for Memory and for all Logic nodes.


"ASML expects fourth-quarter net sales between €4.9 billion and €5.2 billion with a gross margin between 51% and 52%. ASML expects R&D costs of around €670 million and SG&A costs of around €195 million. For the full year, we are on track to achieving growth approaching 35%," said ASML President and Chief Executive Officer Peter Wennink.


Products and business highlights

  • In our EUV business, we had a record quarter in terms of shipments and revenue, due to the volume as well as the share of TWINSCAN NXE:3600D systems.

    The TWINSCAN NXE:3600D achieved a record of 160 wafers per hour at customers' sites.

  • In our DUV business, we reached a milestone as we shipped the 1000th ArF immersion scanner. The first immersion system designed to support volume manufacturing, the XT:1700Fi, was shipped 15 years ago, in 2006.

  • On October 19, 2021, we reached an agreement with Jenoptik AG whereby they will acquire the Medical Applications and Swiss Optic business of Berliner Glas. The deal is targeted to close by the end of the year, subject to regulatory approvals. This concludes our divestment plans regarding the non-semiconductor businesses of Berliner Glas. ASML acquired Berliner Glas in 2020.

Interim dividend and share buyback program update

The interim dividend for 2021 will be €1.80 per ordinary share. The ex-dividend date as well as the fixing date for the EUR/USD conversion will be November 2, 2021, and the record date will be November 3, 2021. The dividend will be made payable on November 12, 2021.


As part of its financial policy to return excess cash to its shareholders through growing annualized dividends and regularly timed share buybacks, ASML announced a new share buyback program which started on July 22, 2021, and is to be executed by December 31, 2023. As part of this program, ASML intends to repurchase shares up to an amount of €9 billion, of which we expect a total of up to 0.45 million shares will be used to cover employee share plans. ASML intends to cancel the remainder of the shares repurchased. In the third quarter, we purchased around €2.4 billion of shares under the current and previous program.


The share buyback program will be executed within the limitations of the existing authority granted by the Annual General Meeting of Shareholders (AGM) on April 29, 2021, and of the authority to be granted by future AGMs. The share buyback program may be suspended, modified or discontinued at any time. All transactions under this program will be published on ASML's website (www.asml.com/investors) on a weekly basis.


Quarterly video interview, investor call

With this press release, ASML has published a video interview in which CFO Roger Dassen discusses the 2021 third-quarter results and full year 2021 outlook. This video and the transcript can be viewed on Q3 2021 results page.


An investor call for both investors and the media will be hosted by CEO Peter Wennink and CFO Roger Dassen on October 20, 2021 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on Q3 2021 results page.

About ASML


ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity's toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across Europe, the US and Asia. Every day, ASML’s more than 30,000 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at www.asml.com.

US GAAP and IFRS Financial Reporting


ASML's primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly Summary US GAAP consolidated statements of operations, consolidated statements of cash flows and consolidated balance sheets are available on www.asml.com.

 

The consolidated balance sheets of ASML Holding N.V. as of October 3, 2021, the related consolidated statements of operations and consolidated statements of cash flows for the quarter and nine months ended October 3, 2021 as presented in this press release are unaudited.

Regulated information


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

Forward-looking statements


CEO statement and outlook

"Our third-quarter net sales came in at €5.2 billion with a gross margin of 51.7%, both within our guidance. Our third-quarter net bookings came in at €6.2 billion, including €2.9 billion from EUV systems.


"The demand continues to be high. The ongoing digital transformation and current chip shortage fuel the need to increase our capacity to meet the current and expected future demand for Memory and for all Logic nodes.


"ASML expects fourth-quarter net sales between €4.9 billion and €5.2 billion with a gross margin between 51% and 52%. ASML expects R&D costs of around €670 million and SG&A costs of around €195 million. For the full year, we are on track to achieving growth approaching 35%," said ASML President and Chief Executive Officer Peter Wennink.


Products and business highlights

  • In our EUV business, we had a record quarter in terms of shipments and revenue, due to the volume as well as the share of TWINSCAN NXE:3600D systems.

    The TWINSCAN NXE:3600D achieved a record of 160 wafers per hour at customers' sites.

  • In our DUV business, we reached a milestone as we shipped the 1000th ArF immersion scanner. The first immersion system designed to support volume manufacturing, the XT:1700Fi, was shipped 15 years ago, in 2006.

  • On October 19, 2021, we reached an agreement with Jenoptik AG whereby they will acquire the Medical Applications and Swiss Optic business of Berliner Glas. The deal is targeted to close by the end of the year, subject to regulatory approvals. This concludes our divestment plans regarding the non-semiconductor businesses of Berliner Glas. ASML acquired Berliner Glas in 2020.

Interim dividend and share buyback program update

The interim dividend for 2021 will be €1.80 per ordinary share. The ex-dividend date as well as the fixing date for the EUR/USD conversion will be November 2, 2021, and the record date will be November 3, 2021. The dividend will be made payable on November 12, 2021.


As part of its financial policy to return excess cash to its shareholders through growing annualized dividends and regularly timed share buybacks, ASML announced a new share buyback program which started on July 22, 2021, and is to be executed by December 31, 2023. As part of this program, ASML intends to repurchase shares up to an amount of €9 billion, of which we expect a total of up to 0.45 million shares will be used to cover employee share plans. ASML intends to cancel the remainder of the shares repurchased. In the third quarter, we purchased around €2.4 billion of shares under the current and previous program.


The share buyback program will be executed within the limitations of the existing authority granted by the Annual General Meeting of Shareholders (AGM) on April 29, 2021, and of the authority to be granted by future AGMs. The share buyback program may be suspended, modified or discontinued at any time. All transactions under this program will be published on ASML's website (www.asml.com/investors) on a weekly basis.


Quarterly video interview, investor call

With this press release, ASML has published a video interview in which CFO Roger Dassen discusses the 2021 third-quarter results and full year 2021 outlook. This video and the transcript can be viewed on Q3 2021 results page.


An investor call for both investors and the media will be hosted by CEO Peter Wennink and CFO Roger Dassen on October 20, 2021 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on Q3 2021 results page.

Contact information

  • Brittney Wolff Zatezalo
  • Corporate communications manager US
  • +14084833207