En de begeleidende Q&A highlights
Q & A Highlights
Q: In the booking for EUV in the EUR2.5 billion, were there any two-nanometer orders from foundry customers? Any High-NA in the mix? And based on the bookings momentum and backlog, how do you think about calendar '25 revenues?
A: On the bookings, 73% was related to Logic, indicating foundry business at two nanometers is in the books. High-NA is not included. For 2025, we confirm our expectation of EUR30 billion to EUR40 billion, not at the low point of that range. More specifics will be provided at our Capital Markets Day in November 2024. (Roger Dassen, CFO)
Q: What do you think about the potential implications for ASML from the US administration's potential severe trade restrictions on China shipments?
A: We don't comment on rumors. The opportunity in the mature semiconductor market remains significant. While China has been a large part of this market in recent years, we believe the capacity will be needed globally. (Christophe Fouquet, CEO)
Q: You confirmed today that a Logic customer ordered on 2-nanometer this quarter. Should we expect more EUV orders from them in the coming quarters? And how is AI driving most of the industry's recovery and growth?
A: It's a healthy start for the N2 foundry business, and additional orders will come as the customer ramps up. AI is driving the biggest part of the recovery, impacting both logic and memory. High bandwidth memory products drive more wafer demand, and we expect this to continue into 2026. (Roger Dassen, CFO; Christophe Fouquet, CEO)
Q: Are leading-edge 2-nanometer ramp-up phases on track, or are there any changes? And how do you see the DRAM adoption of more EUV layers and High NA EUV?
A: The foundry customer is consistent with their public statements about starting N2 in the second half of 2025. For DRAM, we see a gradual increase in EUV use on every node and expect High NA insertion around '25-'26. (Roger Dassen, CFO; Christophe Fouquet, CEO)
Q: Could you make deep EUV tools without US IP at all? Are all your deep EUV tools using US IP?
A: There is significant US technology in our tools, and speculating about producing without it is not productive. Preserving the ecosystem is beneficial for the industry. (Roger Dassen, CFO; Christophe Fouquet, CEO)
Q: Can you clarify your capacity expansion plans and the ASP for High NA tools?
A: We are increasing capacity across the board, including High NA, aiming for 600 deep EUV tools and 90 EUV tools. The ASP for High NA tools is north of EUR350 million. (Roger Dassen, CFO)
Q: Are you still servicing high-end immersion tools in China that you shipped last year but can no longer ship?
A: We follow all applicable laws and regulations. We can still operate in the fabs of our customers, though there are more stringent limitations for some fabs. (Roger Dassen, CFO; Christophe Fouquet, CEO)
Q: How much of an impact will new fabs supported by CHIPS Act money have in 2025 and beyond?
A: Most of the volume from these fabs will come after 2025, starting in 2026. We are preparing capacity to meet market demand beyond 2025. (Christophe Fouquet, CEO; Roger Dassen, CFO)
Q: What gives you confidence in the revenue acceleration for the fourth quarter?
A: We are building up momentum, and there is deferred revenue from systems shipped but not yet recognized. This includes fast shipments, 3,800 tools, and High NA tools. (Roger Dassen, CFO)
Q: Can you provide more details on the 3,800 tools' impact on gross margins and ASPs for the second half of 2024 and 2025?
A: The majority of EUV tools in the second half will be 3,800, but not all will command the higher ASP initially. The full effect will be seen in 2025. Gross margin will be slightly lower in the second half due to a higher dry component and the first revenue recognition of High NA tools. (Roger Dassen, CFO)