ASML books another record year with €7.6 billion in profit; More growth expected in 2025

ASML has booked another record year, closing 2024 with a turnover of 28.3 billion euros and a profit of 7.6 billion euros, the company announced. The chip machine maker expects more growth this year, driven by the demand for advanced chip machines for AI, despite more export restrictions from the Dutch and American governments.

After disappointing third-quarter results set ASML’s stock price plummeting, the fourth quarter of 2024 was a record one with both net sales and gross margin coming in well above expectations. Customers placed 7.1 billion euros worth of orders in Q4, of which 3 billion euros involved orders for extreme ultraviolet (EUV) lithography machines - the company’s most advanced chip-making machines.

The company is facing more export restrictions imposed by the Netherlands and the United States, also banning it from exporting its second-most advanced chip machines from China. Despite these increasing restrictions, ASML expects the company to continue to grow, primarily due to the AI boom.

For this year, ASML expects its turnover to grow to between 30 and 35 billion euros. The broad estimate is related to uncertainties about the demand for chip equipment from customers not at the forefront of developing chips for artificial intelligence, the company said.

"Consistent with our view from the last quarter, the growth in artificial intelligence is the key driver for growth in our industry. It has created a shift in the market dynamics that is not benefiting all of our customers equally, which creates both opportunities and risks as reflected in our 2025 revenue range," said ASML CEO Christophe Fouquet.