VELDHOVEN, the Netherlands, July 17, 2019 - today ASML Holding N.V. (ASML) publishes its 2019 second-quarter results.
•Q2 net sales of EUR 2.6 billion, net income of EUR 476 million, gross margin 43.0 percent
•ASML expects Q3 2019 net sales of around EUR 3.0 billion and a gross margin between 43 percent and 44 percent

(Figures in millions of euros unless otherwise indicated)
Q1 2019 Q2 2019
Net sales 2,229 2,568
...of which Installed Base Management sales1 540 717
New lithography systems sold (units) 43 41
Used lithography systems sold (units) 5 7
Net bookings 1,399 2,828
Gross profit 928 1,105
Gross margin (%) 41.6 43.0
Net income 355 476
EPS (basic; in euros) 0.84 1.13
End-quarter cash and cash equivalents and short-term investments 3,275 2,335

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

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
"Our second-quarter sales came in within guidance and the gross margin came in above guidance, helped by improved EUV manufacturing results and higher field upgrade sales, which more than compensates the negative mix effect in comparison with Q1.
"For the remainder of the year we see further weakness in Memory, while Logic looks stronger. We expect that the increased demand in Logic will compensate for the decreased demand in Memory. The additional growth in Logic is driven by accelerated investments in 7 nm nodes and beyond.

"We received ten orders for EUV systems during the second quarter, some of which are slated for use in the production of DRAM devices.

"Our 2019 total sales view remains unchanged and we continue to see 2019 as a growth year," said ASML President and Chief Executive Officer Peter Wennink.

Q2 2019 product and business highlights

•For EUV, on the NXE:3400C, we recently demonstrated >170 wafers per hour at ASML as well as >2,000 wafers per day under customer memory production conditions.

•ASML and Mitsui Chemicals have agreed that ASML will license the EUV pellicle assembly technology to Mitsui Chemicals. Mitsui Chemicals is able to assemble and sell pellicles in high volume to our lithography customers. In parallel, ASML will continue to develop next generations of pellicle membranes with its partners, which is expected to enable improved performance of EUV pellicles.

Outlook
For the third quarter of 2019, ASML expects net sales around EUR 3.0 billion, and a gross margin of between 43 percent and 44 percent. ASML also expects R&D costs of around EUR 495 million, and SG&A costs of around EUR 125 million. Our estimated annualized effective tax rate is around 9 percent for 2019.

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https://www.asml.com/en/news/press-releases/asml-reports-eur-2dot6-billion-sales-at-43dot0-percent-gross-margin-in-q2