The Dutch chip machine maker ASML cannot confirm growth in 2026 due to macroeconomic and geopolitical changes.
In a presentation on the second quarter figures of 2025, Christophe Fouquet, President and Chief Executive Officer of ASML, stated that potential growth in 2026 cannot be confirmed. According to the company, macroeconomic and geopolitical changes play a role in this. However, the quarterly report shows that the second quarter was better than expected, and they are cautiously optimistic about the third quarter.
Better than Expected
ASML achieved a net revenue of 7.7 billion euros in the second quarter of 2025. The net profit amounted to 2.3 billion euros. The company maintains its expectation that annual revenue will grow by 15 percent compared to 2024.
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The gross margin in the second quarter was 53.7 percent. According to ASML, this is due to higher revenues from upgrade activities and some one-time cost benefits. The company sold 67 new lithography systems and nine used systems. Total net bookings for the quarter amounted to 5.5 billion euros, of which 2.3 billion euros came from EUV systems (extreme ultraviolet).
For the third quarter, ASML forecasts revenue between 7.4 and 7.9 billion euros and a gross margin between 50 and 52 percent. The expected research and development expenses are 1.2 billion euros. The costs for sales, general, and administrative tasks are estimated at 310 million euros.
Outlook 2026
Demand from customers in AI markets remains strong, although ASML acknowledges that macroeconomic and geopolitical uncertainties could impact the outlook for 2026.
“Looking at 2026, we see that the fundamentals of our AI customers remain strong. At the same time, we still see increasing uncertainty due to macroeconomic and geopolitical developments. While we are still preparing for growth in 2026, we cannot confirm it at this stage,” said Fouquet.