ASML reports €14.0 billion net sales and €3.6 billion net income in 2020 Continued growth expected in 2021 due to strong Logic demand and recovery in Memory.

• Q4 net sales of €4.3 billion, gross margin of 52.0%, net income of €1.4 billion

• Q4 net bookings of €4.2 billion

• 2020 net sales of €14.0 billion, gross margin of 48.6%, net income of €3.6 billion

• ASML expects Q1 2021 net sales of between €3.9 billion and €4.1 billion and a gross margin between 50% and 51%

• ASML intends to declare a total dividend over 2020 of €2.75 per ordinary share (15% increase)

CEO statement and outlook

"Our fourth-quarter sales came in at €4.3 billion, which is above our guidance. This was mainly due to additional DUV shipments and upgrade opportunities. We shipped nine EUV systems and recognized revenue for eight systems in the fourth quarter. Our fourth-quarter net bookings came in at €4.2 billion, including €1.1 billion from EUV systems (net six units).

"The total net sales for the year was €14.0 billion, including €4.5 billion from 31 EUV systems. For ASML, 2020 was a year of strong growth, both in sales and in profitability.

"For 2021, we expect another year of growth driven by strong Logic demand and continued recovery in Memory. The build out of the digital infrastructure and the continued technology innovation is relevant to the consumer, automotive and industrial markets and drives demand across our entire product portfolio," said ASML President and Chief Executive Officer Peter Wennink.

ASML expects first-quarter revenue between €3.9 billion and €4.1 billion with a gross margin between 50% and 51%, R&D costs of €620 million and SG&A costs of €165 million. The estimated annualized effective tax rate is expected to be between 14% and 15% for 2021.