- Continued EUV progress enables ASML roadmap acceleration
VELDHOVEN, the Netherlands, July 18, 2018 - ASML Holding N.V. (ASML) today publishes its 2018 second-quarter results.

Q2 net sales of EUR 2.74 billion, net income EUR 584 million, gross margin 43.3 percent
ASML expects Q3 2018 net sales between EUR 2.7 billion and EUR 2.8 billion and a gross margin between 47 percent and 48 percent

(Figures in millions of euros unless otherwise indicated)
Q1 2018 Q2 2018

Net sales 2,285 2,740

...of which Installed Base Management sales 1) 617 654
New lithography systems sold (units) 48 50
Used lithography systems sold (units) 1 8

Net bookings 2) 2,442 1,952
Gross profit 1,113 1,187
Gross margin (%) 48.7 43.3
Net income 540 584
EPS (basic; in euros) 1.26 1.37

End-quarter cash and cash equivalents and short-term investments 3,194 2,980
(1) Installed Base Management sales equals our net service and field option sales.

(2) Net bookings do not include High-NA EUV orders

A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com

CEO Statement
"Our second quarter sales were above expectations including higher than forecasted EUV sales. Gross margin was slightly above our guidance, reflecting the strength of our DUV and Applications business and progress in EUV profitability.

In Q2 we shipped four EUV systems, one more than we forecasted, as Logic customers prepare for the ramp of next node devices starting later this year. We recognized revenue for seven EUV systems. We are on track to supply 20 EUV systems this year. Focused execution is enabling an acceleration of the availability and productivity roadmap. This will provide an even stronger foundation for our EUV business and will support a 2019 shipment plan of at least 30 systems.

Our DUV business is driven by a memory market that continues to require a significant number of lithography systems at least throughout this year and into 2019.

After an excellent first half of 2018, we expect the second half to be stronger, with improved profitability and continued growth from Q3 to Q4," said ASML President and Chief Executive Officer Peter Wennink.

Q2 Product Highlights
In our EUV program we have demonstrated four-week availability of well above 85% on a number of new NXE:3400B systems. We are executing several programs to improve consistent availability to over 90% in 2019 with further improvements planned in the years beyond.
In our DUV lithography business, we started shipment of the TWINSCAN NXT:2000i, which includes several hardware innovations that will enable on-product overlay of 2.5 nanometers in mix-and-match use with EUV for the 7 and 5 nanometer Logic nodes.

Outlook
For the third-quarter of 2018, ASML expects net sales between EUR 2.7 billion and EUR 2.8 billion, a gross margin between 47 percent and 48 percent. R&D costs of about EUR 395 million, SG&A costs of about EUR 120 million. Our target effective annualized tax rate is around 14 percent.

Update Share Buyback Program
As part of ASML's financial policy to return excess cash to shareholders through dividends and regularly timed share buybacks, in January 2018 ASML announced its intention to purchase up to EUR 2.5 billion of shares to be executed within the 2018-2019 time frame. ASML intends to cancel these shares after repurchase, with the exception of up to 2.4 million shares which will be used to cover employee share plans.

Through July 1, 2018, ASML has acquired 2.6 million shares under this program for a total consideration of EUR 439 million.

The current program may be suspended, modified or discontinued at any time. All transactions under this program are published on ASML's website (www.asml.com/investors) on a weekly basis.


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