Q4 2024 ASML Holding NV Earnings Call Transcript
Key Points
- ASML Holding NV (ASML) reported fourth-quarter net sales of EUR9.3 billion, exceeding the high end of their guidance.
- Gross margin for the quarter was above guidance at 51.7%, driven by additional upgrade business and lower costs associated with new product introductions.
- The company achieved significant technology milestones, including the release of new products critical for customer technology roadmaps.
- ASML Holding NV (ASML) generated a free cash flow of EUR9.1 billion for the full year, returning EUR3 billion to shareholders through dividends and share buybacks.
- The company expects full-year 2025 revenue between EUR30 billion and EUR35 billion, with a gross margin between 51% and 53%.
- EUV system sales were EUR8.3 billion, 9% lower compared to 2023.
- SG&A expenses exceeded guidance due to year-end payroll adjustments and a pull-in of IT costs.
- The effective tax rate for Q4 was 21.5% due to a one-off tax expense related to a historic tax position.
- ASML Holding NV (ASML) plans to phase out quarterly bookings reporting after 2025, which may reduce transparency for investors.
- The company faces potential risks related to customer demand and geopolitical factors that could impact results.
Good day, and thank you for standing by. Welcome to the ASML 2024 fourth-quarter and full-year financial results conference call on January 29, 2025. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand 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 fourth quarter and full year results 2024. 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 on www.asml.com. A transcript of management's opening remarks and a replay of the call will be available on our website shortly following
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