ASML reports Q4 net profit of €2.69B on €9.26B net sales, net bookings up 169% QoQ to €7.09B, and expects 2025 net sales of €30B to €35B, up from €28.3B in 2024
Dutch semiconductor giant ASML on Wednesday reported a big jump in fourth-quarter net bookings …
CNBCRyan Browne
Context & Ripple Effects
ASML entered 2024 expecting sales roughly in line with the prior year, even after a Q4 order surge above €9B signaled that chipmakers were preserving demand for its equipment. This report turns that cautious setup into a materially higher 2025 sales outlook.
The sharp sequential rise in bookings matters because it expands ASML's order visibility while its reported 2024 sales establish the base from which the company expects growth.
First-order effects
ASML gains a stronger near-term revenue pipeline from €7.09B in Q4 bookings and guides for 2025 sales above its €28.3B 2024 result.
The results give customers with orders in the backlog clearer evidence that ASML is planning for higher equipment deliveries; ASML shares nevertheless fell more than 7% after the report.
Second-order effects
Chipmakers and other fab-equipment suppliers will read ASML's bookings as a signal that leading-edge capacity plans are progressing, increasing pressure to align component supply and installation schedules.
A larger order book can reduce the flexibility of ASML's customers to time purchases around a weaker quarter, reinforcing the value of contracted equipment capacity.
Third-order effects
If elevated bookings persist, semiconductor manufacturing investment becomes more governed by multi-quarter equipment backlogs than by spot chip-demand swings.
The pattern supports a more concentrated supply chain around scarce lithography capacity, although the durability of that shift depends on customers converting orders into deliveries.
The trend: ASML's results are one data point in a contracted semiconductor-capex cycle in which equipment backlogs shape future capacity well before chips are produced.
BREAKING: $ASML reports €28.3 billion total net sales and €7.6 billion net income in 2024; 2025 total net sales expected to be between €30 billion and €35 billion: https://www.asml.com/...
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Fouquet: “This was primarily driven by additional upgrades. We also recognized revenue on two High NA EUV systems. We shipped a third High NA EUV system to a customer in the fourth quarter.”
The ASML CEO is a very candid one: “We constantly make mistakes here; that's the only way to progress and learn. You wouldn't believe how many f**k-ups are needed to make the most complex machine in the world.”
ASML is one of the most important tech companies right now. I spoke to its CEO today in a wide-ranging interview talking about: - DeepSeek and impact on AI infrastructure spending - China and geopolitics - China's chip progress Full interview: https://www.cnbc.com/...
$ASML CEO: “For AI to succeed, cost has to go down and energy efficiency has to go down...And I can promise you that in our industry, any innovation that has ever reduced cost always created more volume and more opportunity”
Fouquet: “Our fourth-quarter was a record in terms of revenue, with total net sales coming in at €9.3 billion, and a gross margin of 51.7%, both above our guidance.”
ASML expects new low-cost models like the one rolled out by China's DeepSeek to lead to more rather than less demand for AI chips, CEO Christophe Fouquet told CNBC Wednesday.