Core Insights - ASML has shipped its first TWINSCAN EXE:5200B High NA lithography system, indicating progress in the development and application of EUV lithography technology [1] Industry Trends - The investment in lithography machines continues to maintain a strong share of overall investments in wafer fabs, particularly in the DRAM sector [1] - The launch of the TWINSCAN NXE:3800E further solidifies the trend of increasing investment in lithography technology [1]

Group 1 - ASML's second-quarter orders reached €5.5 billion (approximately $6.4 billion), exceeding analysts' expectations of €4.8 billion [1] - CEO Christophe Fouquet remains cautious about the market outlook for 2026, highlighting the need to monitor macroeconomic fluctuations and geopolitical risks [1] - ASML's exclusive EUV lithography technology is crucial for the production of high-end AI chips, which are essential components of global AI infrastructure [1] Group 2 - ASML expects third-quarter net sales to be between €7.4 billion and €7.9 billion, with an anticipated annual revenue growth of 15% year-over-year [2] - Supply chain challenges persist, with Intel delaying European factory construction and Samsung experiencing its first profit decline in 2023 due to a drop in AI chip market share [2] - ASML's stock is trading at $800, down approximately 25% from its 2023 peak, as the company seeks to balance short-term market fluctuations with long-term technological advantages amid the AI revolution and geopolitical changes [2]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was EUR 7.7 billion, which was at the high end of guidance and included revenue recognition for one High NA tool [1][2] - Gross margin for the quarter was 53.7%, above guidance, driven by installed base revenue and one-off cost benefits [1][3] - Order intake for the quarter was EUR 5.5 billion, including EUR 2.3 billion for EUV [4] - Net income for the quarter was EUR 2.3 billion [4] - Guidance for Q3 2025 expects revenue between CHF 7.4 billion and CHF 7.9 billion, with a gross margin between 50% and 52% [5] Business Line Data and Key Metrics Changes - Installed base business is expected to see approximately a 20% increase, driven by strong upgrade revenue and service business improvements [11][12] - EUV business is projected to grow by approximately 30% due to increased capacity demands from customers [10] - Deep UV and application business is expected to remain stable compared to last year [12] Market Data and Key Metrics Changes - AI is identified as the main growth driver for both logic and memory sectors [6] - Revenue from China is expected to exceed 25%, aligning with the company's backlog [6] - The overall semiconductor market remains strong, with long-term revenue forecasts for ASML between EUR 44 billion and EUR 60 billion by 2030 [30][31] Company Strategy and Development Direction - The company is focusing on advancing EUV technology and optimizing costs to meet customer needs [22][30] - There is a strategic emphasis on converting multi-patterning layers to single exposure to enhance productivity [23][30] - The company is navigating uncertainties related to macroeconomic factors and tariffs while preparing for growth in advanced logic and memory [7][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledges increasing uncertainty due to macroeconomic and geopolitical factors, including tariffs [7][21] - The fundamentals for AI customers remain strong, indicating potential for growth despite short-term uncertainties [6][29] - The company expects a revenue increase of approximately 15% for 2025 compared to the previous year, with a gross margin of around 52% for the full year [12][14] Other Important Information - The company has conducted share buybacks worth EUR 1.4 billion and paid a total dividend of EUR 6.4 for the fiscal year 2024 [28] - The first interim dividend for Q3 is expected to be EUR 1.6, payable by August 6 [28] Q&A Session Summary Question: Can you provide a summary of Q2 2025 results? - Revenue was EUR 7.7 billion, gross margin was 53.7%, and order intake was EUR 5.5 billion [1][4] Question: What is the guidance for Q3? - Expected revenue is between CHF 7.4 billion and CHF 7.9 billion, with a gross margin of 50% to 52% [5] Question: How are market dynamics currently? - AI is driving growth in logic and memory, with strong customer investments [6] Question: What are the long-term market expectations? - The semiconductor market remains strong, with significant opportunities driven by AI [29][30]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was EUR 7.7 billion, which was at the high end of guidance and included revenue recognition for one High NA tool [1][2] - Gross margin came in at 53.7%, above guidance, driven by installed base revenue and one-off cost benefits [1][3] - Order intake for the quarter was EUR 5.5 billion, including EUR 2.3 billion for EUV [4] - Net income for the quarter was EUR 2.3 billion [4] - Guidance for Q3 2025 expects revenue between CHF 7.4 billion and CHF 7.9 billion, with a gross margin between 50% and 52% [5] Business Line Data and Key Metrics Changes - Installed base business is expected to see a 20% increase, driven by strong upgrade revenue in the first half and sustained service revenue in the second half [11][12] - EUV business is projected to grow approximately 30% due to increased capacity demands from customers [10][12] - Deep UV and application business is expected to remain stable compared to last year [12] Market Data and Key Metrics Changes - Artificial intelligence is identified as the main growth driver for both logic and memory sectors [6] - Revenue from China is expected to exceed 25%, aligning with the company's backlog [6] - The semiconductor market remains strong, with long-term opportunities driven by advanced logic and memory needs [30][31] Company Strategy and Development Direction - The company is focusing on enhancing its EUV technology and expanding its capacity to meet customer demands [9][22] - There is an emphasis on mitigating tariff impacts and navigating macroeconomic uncertainties [20][21] - Long-term revenue forecast for 2030 is projected between EUR 44 billion and EUR 60 billion, with a gross margin between 56% and 60% [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledges increasing uncertainty due to macroeconomic and geopolitical factors, including tariffs [7][30] - The fundamentals for AI customers remain strong, indicating potential growth despite short-term uncertainties [7][30] - The company is preparing for growth in 2026, with a focus on advanced nodes and EUV technology [9][30] Other Important Information - The company executed a share buyback worth EUR 1.4 billion and paid a final dividend of EUR 1.84 for the last fiscal year [29] - An interim dividend of EUR 1.6 is expected to be paid in Q3 2025 [29] Q&A Session Summary Question: Can you provide guidance on Q3? - Guidance for Q3 expects revenue between CHF 7.4 billion and CHF 7.9 billion, with a gross margin between 50% and 52% [5] Question: What are the short-term market dynamics? - AI is the main growth driver for logic and memory, with strong customer investments in advanced nodes [6] Question: How does the company view the impact of tariffs? - The company is assessing both direct and indirect effects of tariffs and is working to mitigate their impact [20][21] Question: What is the long-term outlook for the semiconductor market? - The semiconductor market remains strong, with significant opportunities driven by AI and advanced technology needs [30][31]

阿斯麦ASML第二季度净预订额为55亿欧元（64 亿美元），高于分析师预期的44亿欧元。阿斯麦CEO富凯表示，“展望2026 年，我们发现人工智能客户的基本面依然强劲。与此同时，我们持续看到宏观经济和地缘政治发展带来的不确定性日益增加。” ...

Bookings and Revenue - Q2 bookings are approximately €55 billion, exceeding expectations [1] - Q1 bookings were €39 billion [1] - Q2 bookings are expected to be similar to revenue, resulting in a book-to-bill ratio around 10% [1] - Q3 revenue consensus aims for around €8 billion, while the company guides for approximately €765 billion, slightly below consensus [2] - The company anticipates achieving growth in 2025 [2] Growth Outlook - The most important point is the growth outlook for 2026 or 2027 [3] - The company shipped the most advanced high-end EUV equipment fast in Q2 [3] - Maintaining growth momentum for high-end EUV tools is crucial for ASML's growth scenario [4] China Market - China revenue estimates and export restrictions are key factors to watch [4] - Monitoring Q2 numbers for China revenue is important [4] - Assessing the continued solid demand from China is a vital aspect [4]

阿斯麦首席执行官：虽然我们仍在为2026年的增长做准备，但目前我们还不能确定。 ...

ASML’s orders in the second quarter beat estimates after the AI boom drove demand for its sophisticated chip-making machines https://t.co/96Ss4Aaz7D ...

预计2025财年净销售总额将较2024年增长约15%。 阿斯麦第二季度订单额55.4亿欧元，环比增长41%，市场预期为48亿欧元。 第二季度净销售额76.9亿欧元，市场预期为75.1亿欧元。 第二季度净利润22.9亿欧元，市场预期为20.5亿欧元。 预计第三季度净销售额为74亿至79亿欧元，市场预期为82.1亿欧元。 ...

Group 1 - The CEO of ASML indicates increasing uncertainty driven by macroeconomic and geopolitical developments [1] - The company is preparing for growth in 2026, but current conditions do not allow for certainty [1]