SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For July 15, 2020

______________________

ASML Holding N.V.

De Run 6501
5504 DR Veldhoven
The Netherlands
(Address of principal executive offices)
______________________

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.


Yes ¨ No x

If ‘‘Yes’’ is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

EXHIBITS 99.1, 99.3 AND 99.4 TO THIS REPORT ON FORM 6-K ARE INCORPORATED BY REFERENCE IN THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-116337), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-126340), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-136362), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-141125), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-142254), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-144356), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-147128), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-153277), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-162439), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-170034), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-188938), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-190023), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-192951), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-203390), THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-219442) AND THE REGISTRATION STATEMENT ON FORM S-8 (FILE NO. 333-227464) OF ASML HOLDING N.V. AND IN THE OUTSTANDING PROSPECTUSES CONTAINED IN SUCH REGISTRATION STATEMENTS.





Exhibits                                 logo6k.jpg

99.1
“ASML reports €3.3 billion net sales at 48.2% gross margin in Q2 2020. 2020 sales growth expectations unchanged", press release dated July 15, 2020
99.2
“ASML reports €3.3 billion net sales at 48.2% gross margin in Q2 2020. 2020 sales growth expectations unchanged", presentation dated July 15, 2020
99.3
Summary US GAAP Consolidated Financial Statements
99.4
Statutory Interim Report for the six-month period ended June 28, 2020













SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

ASML HOLDING N.V. (Registrant)

Date: July 15, 2020    By:    /s/ Peter T.F.M. Wennink
Peter T.F.M. Wennink
Chief Executive Officer






Exhibit 99.1

ASML reports €3.3 billion net sales at 48.2% gross margin in Q2 2020
2020 sales growth expectations unchanged

VELDHOVEN, the Netherlands, July 15, 2020 - today ASML Holding NV (ASML) has published its Q2 2020 results.
Q2 net sales of €3.3 billion, net income of €0.8 billion, gross margin of 48.2%
Q2 net bookings of €1.1 billion



(Figures in millions of euros unless otherwise indicated)
Q1 2020
Q2 2020

Net sales
2,441
3,326

...of which Installed Base Management sales 1
857
887

 
 
 
New lithography systems sold (units)
49
57

Used lithography systems sold (units)
8
4

 
 
 
Net bookings 2

3,085
1,101

 
 
 
Gross profit
1,101
1,603

Gross margin (%)
45.1
48.2

 
 
 
Net income
391
751

EPS (basic; in euros)
0.93
1.79

 
 
 
End-quarter cash and cash equivalents and short-term investments
4,112
4,440

(1) Installed Base Management sales equals our net service and field option sales.
(2) Our systems net bookings include all system sales orders for which written authorizations have been accepted (for EUV excluding the High-NA systems).
Numbers have been rounded for readers' convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on www.asml.com

CEO statement and outlook
"Our second-quarter sales came in at €3.3 billion, a strong growth of over 35% compared to Q1. The gross margin came in at 48.2%, a significant improvement compared to Q1, primarily due to an improvement of the EUV installed base gross margin and the DUV mix. We shipped nine EUV systems and were able to recognize revenue for seven systems in the second quarter. The deferred revenue of four EUV systems that shipped in the first half of the year will be recognized after site acceptance, expected in the second half of the year. Our Q2 net bookings came in at €1.1 billion, including €461 million from EUV systems (three units).
"Thanks to the commitment and engagement of our people, we were able to continue our business and serve our customers during the second quarter. Our operational capabilities are largely back to normal now, but we will remain vigilant as COVID-19 is not yet behind us.
"We expect Q3 revenue between €3.6 billion and €3.8 billion with a gross margin between 47% and 48%, R&D costs of around €545 million and SG&A costs of around €140 million. Estimated annualized effective tax rate is expected to be around 14% for 2020. Our 2020 growth expectations are largely unchanged relative to our view at the start of the year," said ASML President and Chief Executive Officer Peter Wennink.



ASML to acquire Berliner Glas

1



ASML has agreed to acquire all shares of Berliner Glas, a privately held manufacturer of ceramic and optical modules, which are important to support the future roadmap for our EUV and DUV products. The acquisition will be completed once all the necessary regulatory approvals have been obtained, which is expected before the end of 2020. Financial details of the transaction will not be disclosed.

Products and business highlights
In our DUV lithography business, we shipped the first NXT:1470 to a customer. This is the first dry NXT system, building on the immersion platform, with improvements in matched machine overlay (< 4.0 nm), productivity (> 300 wafers per hour) and footprint.
Our Applications business shipped the first-generation multibeam inspection system ‘eScan 1000’, targeted for 5 nm nodes and beyond. The HMI eScan 1000 demonstrated successful multibeam operation, simultaneously scanning with nine beams. The eScan 1000 will increase throughput up to 600% compared to single e-beam inspection tools for targeted in-line defect inspection applications.
In our EUV business, multiple NXE:3400C systems were upgraded at customers with the modular vessel, within the planned install time. We achieved a successful introduction of in-line tin refill on those systems in support of our availability improvement roadmap.


Dividend and share buyback program update
In Q2, ASML paid a final dividend of €1.35 per ordinary share, or €565 million. Together with the interim dividend paid in 2019, this results in a total dividend for 2019 of €2.40 per ordinary share.
As part of its financial policy to return excess cash to its shareholders through growing annualized dividends and regularly timed share buybacks, ASML announced a new three-year share buyback program in January 2020, to be executed within the 2020–2022 time frame. As part of this program ASML intends to purchase shares up to €6 billion, which includes a total of up to 0.4 million shares to cover employee share plans. ASML intends to cancel the remainder of the shares repurchased. To date, €507 million worth of shares has been repurchased under the current program.



Media Relations contacts
Investor Relations contacts
Monique Mols +31 6 5284 4418
Skip Miller +1 480 235 0934
Sander Hofman +31 6 2381 0214
Marcel Kemp +31 40 268 6494
Brittney Wolff Zatezalo +1 408 483 3207
Peter Cheang +886 3 659 6771

Quarterly video interview, investor and media conference call
With this press release, ASML has published a video interview in which CEO Peter Wennink discusses the Q2 2020 results. This can be viewed on www.asml.com.
A conference call for investors and media will be hosted by CEO Peter Wennink and CFO Roger Dassen on July 15, 2020 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.


2



About ASML
ASML is one of the world’s leading manufacturers of chip-making equipment. Our vision is a world in which semiconductor technology is everywhere and helps to tackle society’s toughest challenges. We contribute to this goal by creating products and services that let chipmakers define the patterns that integrated circuits are made of. We continuously raise the capabilities of our products, enabling our customers to increase the value and reduce the cost of chips. By helping to make chips cheaper and more powerful, we help to make semiconductor technology more attractive for a larger range of products and services, which in turn enables progress in fields such as healthcare, energy, mobility and entertainment. ASML is a multinational company with offices in more than 60 cities in 16 countries, headquartered in Veldhoven, the Netherlands. We employ more than 25,800 people on payroll and flexible contracts (expressed in full time equivalents). ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. More information about ASML, our products and technology, and career opportunities is available on www.asml.com.

US GAAP and IFRS Financial Reporting
ASML's primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly summary US GAAP consolidated statements of operations, consolidated statements of cash flows and consolidated balance sheets are available on www.asml.com.
The consolidated balance sheets of ASML Holding N.V. as of June 28, 2020, the related consolidated statements of operations and consolidated statements of cash flows for the quarter and six-month period ended June 28, 2020 as presented in this press release are unaudited.
In addition to reporting financial figures in accordance with US GAAP, ASML also reports financial figures in accordance with International Financial Reporting Standards as adopted by the European Union ('IFRS') for statutory purposes. The most significant differences between US GAAP and IFRS that affect ASML concern the capitalization of certain product development costs and the accounting for income taxes.
Today, July 15, 2020, ASML also published its Statutory Interim Report for the six-month period ended June 28, 2020. This report is in accordance with the requirements of the EU Transparency Directive as implemented in the Netherlands, and includes Consolidated Condensed Interim Financial Statements prepared in accordance with IAS 34 as adopted by the European Union 'Interim Financial Reporting', an Interim Management Board Report and a Managing Directors' Statement and is available on www.asml.com.
Regulated information
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.


3



Forward Looking Statements
This document contains statements that are forward-looking, including statements with respect to expected trends, including trends in end markets and technology industry and business environment trends, outlook and expected financial results for Q3 2020, including expected revenues, gross margin and 2020 growth expectations, R&D costs, SG&A costs and estimated annualized effective tax rate for 2020, expected revenue recognition of certain systems later in 2020, expected benefits and performance of new systems and applications, the expectation that EUV will continue to enable Moore's law and drive long term value for ASML, statements with respect to plans regarding dividends, including the intention to continue to return excess cash to shareholders through a combination of share buybacks and growing dividends and statements with respect to the 2020-2022 share buyback program. You can generally identify these statements by the use of words like "may", "will", "could", "should", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "intend", "continue", "target", and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve risks and uncertainties. These risks and uncertainties include, without limitation, economic conditions; product demand and semiconductor equipment industry capacity; worldwide demand and manufacturing capacity utilization for semiconductors; the impact of general economic conditions on consumer confidence and demand for our customers’ products; performance of our systems, the duration and continued or increased severity of the COVID-19 outbreak and measures taken to contain it and other risks related to the impact of COVID-19 on the global economy and financial markets, as well as on ASML and its customers and suppliers, including their operations, and other risks relating to COVID-19 and other factors that may impact ASML’s sales and gross margin, including customer demand and ASML’s ability to obtain supplies for its products, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products; the number and timing of systems ordered, shipped and recognized in revenue, and the risk of order cancellation or push out, production capacity for our systems including delays in system production; our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation; availability of raw materials, critical manufacturing equipment and qualified employees; trade environment; import/export and national security regulations, changes in exchange and tax rates; available liquidity and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, results of the share repurchase programs and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

4



Exhibit 99.3


ASML - Summary US GAAP Consolidated Statements of Operations
 
 
Three months ended,
 
Six months ended,
 
 
 
June 30,

 
Jun 28,

 
June 30,

 
Jun 28,

 
 
 
2019

 
2020

 
2019

 
2020

 
(unaudited, in millions EUR, except per share data)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net system sales
 
1,850.8

 
2,438.6

 
3,539.8

 
4,022.6

 
Net service and field option sales
 
717.1

 
887.1

 
1,257.2

 
1,743.7

 
Total net sales
 
2,567.9

 
3,325.7

 
4,797.0

 
5,766.3

 
 
 
 
 
 
 
 
 
 
 
Total cost of sales
 
(1,462.7
)
 
(1,722.5
)
 
(2,763.7
)
 
(3,061.7
)
 
Gross profit
 
1,105.2

 
1,603.2

 
2,033.3

 
2,704.6

 
 
 
 
 
 
 
 
 
 
 
Research and development costs
 
(487.4
)
 
(566.9
)
 
(960.3
)
 
(1,110.9
)
 
Selling, general and administrative costs
 
(123.5
)
 
(131.2
)
 
(244.4
)
 
(261.9
)
 
Income from operations
 
494.3

 
905.1

 
828.6

 
1,331.8

 
 
 
 
 
 
 
 
 
 
 
Interest and other, net
 
(6.9
)
 
(7.1
)
 
(14.8
)
 
(18.5
)
 
Income before income taxes
 
487.4

 
898.0

 
813.8

 
1,313.3

 
 
 
 
 
 
 
 
 
 
 
Benefit from (provision for) income taxes
 
(19.1
)
 
(166.4
)
 
(2.1
)
 
(214.8
)
 
Income after income taxes
 
468.3

 
731.6

 
811.7

 
1,098.5

 

 
 
 
 
 
 
 
 
 
Profit (loss) related to equity method investments
 
7.7

 
19.4

 
19.7

 
43.1

 
Net income
 
476.0

 
751.0

 
831.4

 
1,141.6

 
 
 
 
 
 
 
 
 
 
 
Basic net income per ordinary share
 
1.13

 
1.79

 
1.97

 
2.73

 
Diluted net income per ordinary share
 
1.13

 
1.79

 
1.97

 
2.72

 
 
 
 
 
 
 
 
 
 
 
Weighted average number of ordinary shares used in computing per share amounts (in millions):
Basic
 
421.1

 
418.4

 
421.1

 
418.5

 
Diluted
 
421.8

 
419.0

 
421.8

 
419.2

 
ASML - Ratios and Other Data
 
 
Three months ended,
 
Six months ended,
 
 
 
June 30,

 
Jun 28,

 
June 30,

 
Jun 28,

 
 
 
2019

 
2020

 
2019

 
2020

 
(unaudited, in millions EUR, except otherwise indicated)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross profit as a percentage of net sales
 
43.0
%
 
48.2
%
 
42.4
%
 
46.9
%
 
Income from operations as a percentage of net sales
 
19.2
%
 
27.2
%
 
17.3
%
 
23.1
%
 
Net income as a percentage of net sales
 
18.5
%
 
22.6
%
 
17.3
%
 
19.8
%
 
Income taxes as a percentage of income before income taxes
 
3.9
%
 
18.5
%
 
0.3
%
 
16.3
%
 
Shareholders’ equity as a percentage of total assets
 
57.6
%
 
52.2
%
 
57.6
%
 
52.2
%
 
Sales of lithography systems (in units) 1
 
48

 
61

 
96

 
118

 
Value of booked systems (EUR millions) 2
 
2,828

 
1,101

 
4,227

 
4,186

 
Net bookings lithography systems (in units) 1, 2
 
61

 
34

 
95

 
107

 
Number of payroll employees in FTEs
 
22,125

 
24,330

 
22,125

 
24,330

 
Number of temporary employees in FTEs
 
2,157

 
1,482

 
2,157

 
1,482

 










1     Lithography systems do not include metrology and inspection systems.
2 Our systems net bookings include all system sales orders for which written authorizations have been accepted (for EUV excluding the High-NA systems).



ASML - Summary US GAAP Consolidated Balance Sheets

 
 
Dec 31,

 
Jun 28,

 
 
2019

 
2020

 (unaudited, in millions EUR)
 
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
Cash and cash equivalents
 
3,532.3

 
3,499.1

Short-term investments
 
1,185.8

 
941.2

Accounts receivable, net
 
1,786.8

 
1,770.0

Finance receivables, net
 
564.5

 
1,071.5

Current tax assets
 
178.7

 
360.8

Contract assets
 
231.0

 
260.9

Inventories, net
 
3,809.2

 
4,685.6

Other assets
 
842.8

 
903.5

Total current assets
 
12,131.1

 
13,492.6

 
 
 
 
 
Finance receivables, net
 
421.1

 
444.0

Deferred tax assets
 
445.3

 
485.3

Other assets
 
830.4

 
929.7

Equity method investments
 
833.0

 
891.6

Goodwill
 
4,541.1

 
4,541.1

Other intangible assets, net
 
1,104.4

 
1,058.3

Property, plant and equipment, net
 
1,999.3

 
2,109.6

Right-of-use assets - Operating
 
205.4

 
193.0

Right-of-use assets - Finance
 
118.5

 
160.9

Total non-current assets
 
10,498.5

 
10,813.5

 
 
 
 
 
Total assets
 
22,629.6

 
24,306.1

 
 
 
 
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
Total current liabilities
 
4,694.1

 
4,631.3

 
 
 
 
 
Long-term debt
 
3,108.3

 
4,625.0

Deferred and other tax liabilities
 
234.4

 
191.3

Contract liabilities
 
1,759.6

 
1,918.1

Accrued and other liabilities
 
241.0

 
240.6

Total non-current liabilities
 
5,343.3

 
6,975.0

 
 
 
 
 
Total liabilities
 
10,037.4

 
11,606.3

 
 
 
 
 
Total shareholders’ equity
 
12,592.2

 
12,699.8

Total liabilities and shareholders’ equity
 
22,629.6

 
24,306.1





ASML - Summary US GAAP Consolidated Statements of Cash Flows

 
 
Three months ended,
 
Six months ended,
 
 
June 30,

 
Jun 28,

 
June 30,

 
Jun 28,

 
 
2019

 
2020

 
2019

 
2020

 (unaudited, in millions EUR)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM OPERATING ACTIVITIES
 
 
 
 
 
 
 
 
Net income
 
476.0

 
751.0

 
831.4

 
1,141.6

 
 
 
 
 
 
 
 
 
Adjustments to reconcile net income to net cash flows from operating activities:
 
 
 
 
 
 
 
 
Depreciation and amortization
 
108.4

 
125.1

 
213.2

 
243.4

Impairment
 

 

 
2.7

 
2.7

Loss on disposal of property, plant and equipment
 
1.4

 
0.2

 
2.0

 
1.2

Share-based compensation expense
 
12.5

 
10.3

 
27.4

 
25.2

Allowance for obsolete inventory
 
49.1

 
39.2

 
121.2

 
78.5

Deferred income taxes
 
(65.1
)
 
(15.4
)
 
(141.6
)
 
(40.0
)
Equity method investments
 
(15.3
)
 
(26.4
)
 
(32.3
)
 
(58.7
)
Changes in assets and liabilities
 
(467.5
)
 
(512.1
)
 
(1,405.3
)
 
(1,627.8
)
Net cash provided by (used in) operating activities
 
99.5

 
371.9

 
(381.3
)
 
(233.9
)
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
Purchase of property, plant and equipment
 
(128.3
)
 
(225.1
)
 
(275.3
)
 
(456.6
)
Purchase of intangible assets
 
(11.7
)
 
(6.7
)
 
(98.4
)
 
(17.5
)
Purchase of short-term investments
 
(0.7
)
 
(0.5
)
 
(288.8
)
 
(311.0
)
Maturity of short-term investments
 
349.3

 
447.4

 
528.7

 
555.6

Repayment on loans
 

 
(0.3
)
 

 

Net cash provided by (used in) investing activities
 
208.6

 
214.8

 
(133.8
)
 
(229.5
)
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
Dividend paid
 
(884.4
)
 
(564.8
)
 
(884.4
)
 
(564.8
)
Purchase of shares
 
(17.4
)
 

 
(70.0
)
 
(507.5
)
Net proceeds from issuance of shares
 
7.4

 
11.0

 
12.6

 
19.6

Net proceeds from issuance of notes, net of issuance costs
 

 
746.5

 

 
1,486.3

Repayment of debt and finance lease obligations
 
(1.2
)
 
(0.8
)
 
(1.9
)
 
(1.7
)
Net cash provided by (used in) financing activities
 
(895.6
)
 
191.9

 
(943.7
)
 
431.9

 
 
 
 
 
 
 
 
 
Net cash flows
 
(587.5
)
 
778.6

 
(1,458.8
)
 
(31.5
)
 
 
 
 
 
 
 
 
 
Effect of changes in exchange rates on cash
 
(4.4
)
 
(3.2
)
 
(1.2
)
 
(1.7
)
Net increase (decrease) in cash and cash equivalents
 
(591.9
)
 
775.4

 
(1,460.0
)
 
(33.2
)
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at beginning of the period
 
2,253.0

 
2,723.7

 
3,121.1

 
3,532.3

Cash and cash equivalents at end of the period
 
1,661.1

 
3,499.1

 
1,661.1

 
3,499.1





ASML - Quarterly Summary US GAAP Consolidated Statements of Operations


Three months ended,


June 30,


Sep 29,


Dec 31,


Mar 29,


Jun 28,



2019


2019


2019


2020


2020

 (unaudited, in millions EUR, except per share data)





















Net system sales

1,850.8


2,325.6


3,130.7


1,584.0


2,438.6

Net service and field option sales

717.1


660.9


905.7


856.6


887.1

Total net sales

2,567.9


2,986.5


4,036.4


2,440.6


3,325.7












Total cost of sales

(1,462.7
)

(1,680.1
)

(2,096.3
)

(1,339.2
)

(1,722.5
)
Gross profit

1,105.2


1,306.4


1,940.1


1,101.4


1,603.2












Research and development costs

(487.4
)

(492.3
)

(516.1
)

(544.0
)

(566.9
)
Selling, general and administrative costs

(123.5
)

(128.5
)

(147.6
)

(130.7
)

(131.2
)
Income from operations

494.3


685.6


1,276.5


426.7


905.1












Interest and other, net

(6.9
)

(5.4
)

(4.8
)

(11.4
)

(7.1
)
Income before income taxes

487.4


680.2


1,271.7


415.3


898.0












Benefit from (provision for) income taxes

(19.1
)

(65.0
)

(124.5
)

(48.5
)

(166.4
)
Income after income taxes

468.3


615.2


1,147.2


366.8


731.6

















Profit (loss) related to equity method investments

7.7


11.6


(13.1
)

23.8


19.4

Net income

476.0


626.8


1,134.1


390.6


751.0












Basic net income per ordinary share

1.13


1.49


2.70


0.93


1.79

Diluted net income per ordinary share

1.13


1.49


2.69


0.93


1.79












Weighted average number of ordinary shares used in computing per share amounts (in millions):




Basic

421.1


420.9


420.1


419.0


418.4

Diluted

421.8


421.7


421.1


419.7


419.0



ASML - Quarterly Summary Ratios and other data





June 30,


Sep 29,


Dec 31,


Mar 29,


Jun 28,



2019


2019


2019


2020


2020

(unaudited, in millions EUR, except otherwise indicated)





















Gross profit as a percentage of net sales

43.0
%

43.7
%

48.1
%

45.1
%

48.2
%
Income from operations as a percentage of net sales

19.2
%

23.0
%

31.6
%

17.5
%

27.2
%
Net income as a percentage of net sales

18.5
%

21.0
%

28.1
%

16.0
%

22.6
%
Income taxes as a percentage of income before income taxes

3.9
%

9.6
%

9.8
%

11.7
%

18.5
%
Shareholders’ equity as a percentage of total assets

57.6
%

58.3
%

55.6
%

53.8
%

52.2
%
Sales of lithography systems (in units) 1

48


57


76


57


61

Value of booked systems (EUR millions) 2

2,828


5,111


2,402


3,085


1,101

Net bookings lithography systems (in units) 1, 2, 3

61


81


60


73


34

Number of payroll employees in FTEs

22,125


22,805


23,219


23,860


24,330

Number of temporary employees in FTEs

2,157


1,913


1,681


1,467


1,482







1     Lithography systems do not include metrology and inspection systems.
2 Our systems net bookings include all system sales orders for which written authorizations have been accepted (for EUV excluding the High-NA systems).
3 Our Q3 2019 systems net bookings include 1 DUV system shipped to collaborative Research Center (Imec) in Q3 2019. This system is not recognized in revenue.



ASML - Quarterly Summary US GAAP Consolidated Balance Sheets



June 30,


Sep 29,


Dec 31,


Mar 29,


Jun 28,



2019


2019

 
2019


2020


2020

(unaudited, in millions EUR)





















ASSETS










Cash and cash equivalents

1,661.1


1,586.1


3,532.3


2,723.7


3,499.1

Short-term investments

673.5


483.8


1,185.8


1,388.1


941.2

Accounts receivable, net

1,637.7


2,100.7


1,786.8


1,767.4


1,770.0

Finance receivables, net

620.1


584.9


564.5


748.7


1,071.5

Current tax assets

320.9


339.6


178.7


529.0


360.8

Contract assets

190.4


287.8


231.0


292.1


260.9

Inventories, net

3,914.1


3,895.0


3,809.2


4,345.3


4,685.6

Other assets

877.5


816.2


842.8


905.8


903.5

Total current assets

9,895.3


10,094.1


12,131.1


12,700.1


13,492.6












Finance receivables, net

406.3


588.2


421.1


340.8


444.0

Deferred tax assets

326.6


309.2


445.3


482.3


485.3

Other assets

893.3


951.2


830.4


902.3


929.7

Equity method investments

949.9


969.0


833.0


865.1


891.6

Goodwill

4,541.1


4,541.1


4,541.1


4,541.1


4,541.1

Other intangible assets, net

1,140.8


1,122.8


1,104.4


1,082.5


1,058.3

Property, plant and equipment, net

1,669.8


1,817.9


1,999.3


2,046.9


2,109.6

Right-of-use assets - Operating

154.8


227.2


205.4


197.1


193.0

Right-of-use assets - Finance
 
56.0

 
78.5

 
118.5

 
119.4

 
160.9

Total non-current assets

10,138.6


10,605.1


10,498.5


10,577.5


10,813.5












Total assets

20,033.9


20,699.2


22,629.6


23,277.6


24,306.1












LIABILITIES AND SHAREHOLDERS’ EQUITY










Total current liabilities

3,692.5


3,712.5


4,694.1


4,677.4


4,631.3












Long-term debt

3,132.4


3,170.0


3,108.3


3,868.2


4,625.0

Deferred and other tax liabilities

199.6


203.6


234.4


262.7


191.3

Contract liabilities

1,280.2


1,276.5


1,759.6


1,702.6


1,918.1

Accrued and other liabilities

183.9


265.5


241.0


241.5


240.6

Total non-current liabilities

4,796.1


4,915.6


5,343.3


6,075.0


6,975.0












Total liabilities

8,488.6


8,628.1


10,037.4


10,752.4


11,606.3












Total shareholders’ equity

11,545.3


12,071.1


12,592.2


12,525.2


12,699.8

Total liabilities and shareholders’ equity

20,033.9


20,699.2


22,629.6


23,277.6


24,306.1





ASML - Quarterly Summary US GAAP Consolidated Statements of Cash Flows


Three months ended,


June 30,


Sep 29,


Dec 31,


Mar 29,


Jun 28,



2019

 
2019

 
2019

 
2020


2020

 (unaudited, in millions EUR)





















CASH FLOWS FROM OPERATING ACTIVITIES










Net income

476.0


626.8


1,134.1


390.6


751.0












Adjustments to reconcile net income to net cash flows from operating activities:










Depreciation and amortization

108.4


112.4


122.9


118.3


125.1

Impairment



2.0




2.7



Loss on disposal of property, plant and equipment

1.4


0.3


0.8


1.0


0.2

Share-based compensation expense

12.5


18.0


29.2


14.9


10.3

Allowance for obsolete inventory

49.1


46.1


54.2


39.3


39.2

Deferred income taxes

(65.1
)

22.5


(80.9
)

(24.6
)

(15.4
)
Equity method investments

(15.3
)

(18.6
)

107.8


(32.3
)

(26.4
)
Changes in assets and liabilities

(467.5
)

(740.1
)

2,220.2


(1,115.7
)

(512.1
)
Net cash provided by (used in) operating activities

99.5


69.4


3,588.3


(605.8
)

371.9












CASH FLOWS FROM INVESTING ACTIVITIES










Purchase of property, plant and equipment

(128.3
)

(185.8
)

(305.5
)

(231.5
)

(225.1
)
Purchase of intangible assets

(11.7
)

(11.2
)

(9.7
)

(10.8
)

(6.7
)
Purchase of short-term investments

(0.7
)

(100.3
)

(902.4
)

(310.5
)

(0.5
)
Maturity of short-term investments

349.3


290.0


200.3


108.2


447.4

Repayment on loans





0.9


0.3


(0.3
)
Net cash provided by (used in) investing activities

208.6


(7.3
)

(1,016.4
)

(444.3
)

214.8












CASH FLOWS FROM FINANCING ACTIVITIES










Dividend paid

(884.4
)



(441.3
)



(564.8
)
Purchase of shares

(17.4
)

(148.4
)

(191.6
)

(507.5
)


Net proceeds from issuance of shares

7.4


7.4


7.2


8.6


11.0

Net proceeds from issuance of notes, net of issuance costs







739.8


746.5

Repayment of debt and finance lease obligations

(1.2
)
 
(1.0
)
 
(0.9
)
 
(0.9
)
 
(0.8
)
Net cash provided by (used in) financing activities

(895.6
)

(142.0
)

(626.6
)

240.0


191.9












Net cash flows

(587.5
)

(79.9
)

1,945.3


(810.1
)

778.6












       Effect of changes in exchange rates on cash

(4.4
)

4.9


0.9


1.5


(3.2
)
Net increase (decrease) in cash and cash equivalents

(591.9
)

(75.0
)

1,946.2


(808.6
)

775.4

 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at beginning of the period
 
2,253.0

 
1,661.1

 
1,586.1

 
3,532.3

 
2,723.7

Cash and cash equivalents at end of the period
 
1,661.1

 
1,586.1

 
3,532.3

 
2,723.7

 
3,499.1





Notes to the Summary US GAAP Consolidated Financial Statements

Basis of preparation
The accompanying unaudited Summary Consolidated Financial Statements have been prepared in conformity with the accounting principles generally accepted in the United States of America ("US GAAP").
For further details on our annual disclosure requirements under US GAAP, including our significant accounting policies, these interim unaudited Summary Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes included within our 2019 Integrated Report based on US GAAP, which is available on www.asml.com.





Forward Looking Statements
This document contains statements that are forward-looking, including statements with respect to expected trends, including trends in end markets and technology industry and business environment trends, outlook and expected financial results for Q3 2020, including expected revenues, gross margin and 2020 growth expectations, R&D costs, SG&A costs and estimated annualized effective tax rate for 2020, expected revenue recognition of certain systems later in 2020, expected benefits and performance of new systems and applications, the expectation that EUV will continue to enable Moore's law and drive long term value for ASML, statements with respect to plans regarding dividends, including the intention to continue to return excess cash to shareholders through a combination of share buybacks and growing dividends and statements with respect to the 2020-2022 share buyback program. You can generally identify these statements by the use of words like "may", "will", "could", "should", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "intend", "continue", "target", and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve risks and uncertainties. These risks and uncertainties include, without limitation, economic conditions; product demand and semiconductor equipment industry capacity; worldwide demand and manufacturing capacity utilization for semiconductors; the impact of general economic conditions on consumer confidence and demand for our customers’ products; performance of our systems, the duration and continued or increased severity of the COVID-19 outbreak and measures taken to contain it and other risks related to the impact of COVID-19 on the global economy and financial markets, as well as on ASML and its customers and suppliers, including their operations, and other risks relating to COVID-19 and other factors that may impact ASML’s sales and gross margin, including customer demand and ASML’s ability to obtain supplies for its products, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products; the number and timing of systems ordered, shipped and recognized in revenue, and the risk of order cancellation or push out, production capacity for our systems including delays in system production; our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation; availability of raw materials, critical manufacturing equipment and qualified employees; trade environment; import/export and national security regulations, changes in exchange and tax rates; available liquidity and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, results of the share repurchase programs and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.



Exhibit 99.4


asmllogoreports.jpg






ASML Holding N.V.
Statutory Interim Report
for the six-month period ended June 28, 2020










































Special note regarding forward-looking statements
This document contains statements that are forward-looking, including statements with respect to expected trends, including trends in end markets and technology industry and business environment trends, outlook and expected financial results, including expected revenues, gross margin and 2020 growth expectations, customer demand, operations and investments, our vision and mission, liquidity resources and requirements including expectation that our liquidity will be sufficient to meet our expected requirements, including the expected impact of the COVID-19 pandemic on ASML, expected revenue recognition of certain systems later in 2020, demand outlook, statements with respect to OPEX, CAPEX and workforce growth, R&D and technology roadmaps and investments, including expected investments in High-NA and expected benefits, and statements with respect to plans regarding dividends, including the aim to distribute a growing dividend payable semi-annually, and share buybacks, including the 2020-2022 share buyback program and the intention to continue to return excess cash to shareholders through share buybacks or capital repayments. You can generally identify these statements by the use of words like "may", "will", "could", "should", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "intend", "continue", "target", and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve risks and uncertainties. These risks and uncertainties include, without limitation, economic conditions; product demand and semiconductor equipment industry capacity; worldwide demand and manufacturing capacity utilization for semiconductors; the impact of general economic conditions on consumer confidence and demand for our customers’ products; performance of our systems, the duration and continued or increased severity of the COVID-19 outbreak and measures taken to contain it and other risks related to the impact of COVID-19 on the global economy and financial markets, as well as on ASML and its customers and suppliers, including their operations, and other risks relating to COVID-19 and other factors that may impact ASML’s sales and gross margin, including customer demand and ASML’s ability to obtain supplies for its products, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products; the number and timing of systems ordered, shipped and recognized in revenue, and the risk of order cancellation or push out, production capacity for our systems including delays in system production; our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation; availability of raw materials, critical manufacturing equipment and qualified employees; trade environment; import/export and national security regulations, changes in exchange and tax rates; available liquidity and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, results of the share repurchase programs and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.





ASML Holding N.V.
Statutory Interim Report
for the six-month period ended June 28, 2020

Table of contents
 
 
 
 
 
 
 
 
 
 
 
 
Condensed consolidated statement of profit or loss
 
Condensed consolidated statement of comprehensive income
 
Condensed consolidated statement of financial position
 
Condensed consolidated statement of changes in equity
 
Condensed consolidated statement of cash flows
 
Notes to the Condensed consolidated interim financial statements
 
 
 
 
 
 
 
 
 



















A definition or explanation of all abbreviations, technical terms and other terms used throughout this Statutory Interim Report can be found in the chapter Definitions.
This report comprises regulated information within the meaning of articles 1:1 and 5:25d of the Dutch Financial Markets Supervision Act (Wet op het Financieel Toezicht).
In this report the name ‘ASML’ is sometimes used for convenience in contexts where reference is made to ASML Holding N.V. and/or any of its subsidiaries, as the context may require.
© 2020, ASML Holding N.V. All Rights Reserved

ASML Statutory Interim Report 2020
4


chapter2019interimmanagement.jpg

ASML Statutory Interim Report 2020
5


Introduction
Dear Stakeholder,
On July 15, 2020, we publish our Statutory Interim Report for the six-month period ended June 28, 2020. This includes an Interim management report, a Managing directors statement and Condensed consolidated interim financial statements prepared in accordance with IAS 34 as adopted by the European Union.
We also publish our 2020 second-quarter results in accordance with US GAAP on July 15, 2020.
This Statutory Interim Report for the six-month period ended June 28, 2020, including the Condensed consolidated interim financial statements, have not been audited or reviewed by an external auditor.
Our company
We are a global innovation leader in the chip industry. We provide chipmakers with hardware, software and services to mass produce patterns on silicon through lithography. What we do increases the value and lowers the cost of a chip, which advances us all towards a smarter, more connected world.
Headquartered in Europe’s top tech hub, the Brainport Eindhoven region in the Netherlands, we’re a global team of 25,812 people from 119 different nationalities, based in over 60 locations across 16 countries worldwide.
Our purpose
For all the ways we have moved forward as a society, the world still faces crucial challenges for the future. We must change how we think and act on themes that impact everyone, like energy use, climate change, mobility and access to healthcare and nutrition.
At ASML, we believe that the chip industry is in a unique position to help tackle these challenges. From artificial intelligence (AI) to a vast internet of things (IoT), microchips are at the heart of modern technology. So whether it’s transitioning to sustainable energy, improving global health, increasing the safety and efficiency of transport, tackling pollution, bridging the digital divide, or feeding eight billion people without exhausting the earth’s resources, our vision is that we will enable the groundbreaking technology that will help solve some of humanity’s toughest challenges.
As the innovation leader that makes vital systems for chip manufacturing, we are proud to not only be a part of these solutions, but also the ones who are making them possible. We can only play this role if we continue to challenge the status quo, tap into the collective knowledge of our global ecosystem and create an environment where people can contribute, learn and grow. At ASML, we believe our purpose is to unlock the potential of people and society by pushing technology to new limits.
The long-term growth of the semiconductor industry is based on the principle that the energy, cost and time required for electronic computations can be reduced by shrinking transistors on microchips. One of the main drivers of shrink is the resolution that systems can achieve, which is mainly determined by the wavelength of the light used and the numerical aperture of the optics. A shorter wavelength – like a finer brush used for painting – can print smaller features. A larger numerical aperture can focus the light more tightly, which also leads to better resolution. To enable shrink, what we do – lithography – is key.
As such, we are a focused supplier of holistic lithography solutions to all of the world’s major chipmakers. Our mission is together with our partners, to provide leading patterning solutions that drive the advancement of microchips. Through our sustained investment in, and our dedication to, research and development, we innovate at least at the same pace as our customers. We put our innovations in the hands of chipmakers as quickly as possible by engineering in parallel, not sequentially, while ensuring their quality, reliability, manufacturability, and serviceability.
ASML operations update
The current unprecedented challenges as a result of the COVID-19 outbreak have impacted how we operate. We are taking the necessary steps for the safety of our employees, the community and our customers, as well as the necessary risk mitigation and financial steps.
We have experienced limited impact on our manufacturing capability, although there have been additional challenges with absenteeism, transportation and support logistics that we have had to manage. Some of the quarantine requirements have had an impact on our efficiency, while travel restrictions have posed a challenge for installs and major upgrades. We are working with our customers to find creative solutions such as the use of remote monitoring, augmented reality solutions and diagnostic technologies to support the install, upgrade and service and repair of systems.

ASML Statutory Interim Report 2020
6


With regards to our supply chain, some of our suppliers have experienced temporary closures resulting from governmental lock down and shelter in place orders. We were able to find solutions for these temporary disruptions. We are managing risks via alternative sourcing and a lot of creativity.
Regarding customer demand, we have not seen a reduction in demand other than normal rescheduling of shipments due to customer planning requirements and we have seen a strong order intake. Many investments of our customers are strategic and support their technology roadmaps. In general most customers appear to be continuing normal production operations. Due to concerns around the continued ability to ship systems in the current circumstances, some customers have asked us to expedite the delivery of EUV systems by shipping the systems before the normal Factory Acceptance Tests (FAT). The implication of this is a delay in our revenue recognition as final acceptance will now take place after successful installation at the customer site.
We expect the revenue that we were not able to recognize in the first half of the year as a result of the challenges listed above, to shift into the second half of the year.
Although we have a very healthy balance sheet, as well as flexibility in our cost structure, we implemented a cash preservation plan in case the COVID-19 situation continues for an extended period of time. These measures include the pause of our share buyback program in Q1 2020 and the decision not to buy back shares in Q2 2020, though the three-year share buyback program remains in place. We will continue to invest in the development of future technology roadmaps, including High-NA, at an unadjusted pace, in order to allow our customers the continuation of their roadmaps once the situation has normalized. Lastly, we issued €750 million of senior notes in May 2020 due in 2029 as part of our cash preservation measures. This offering was in addition to our previous issuance of €750 million of senior notes in February 2020 due in 2030.
In summary, we have been able to successfully navigate through the current environment and our operations capabilities are largely back to normal. As COVID-19 is not yet behind us, we will remain vigilant to ensure the safety of our employees while providing the best possible customer support. Thanks to our people and everyone in our supply chain, who did an outstanding job servicing our customers during this challenging time.

Six-month operating results of 2020 compared to 2019

Set forth below are the Condensed consolidated statement of profit or loss data on a semi-annual basis for the first half of 2019 and 2020 (in accordance with EU-IFRS):
 
Unaudited

 
Unaudited

 
Unaudited

For the six-month period ended June 30, 2019 and June 28, 2020
2019

 
2020

 
2019 vs 2020

(in millions)


%1



%1

% Change

Net system sales
3,539.8

73.8

4,022.6

69.8

13.6

Net service and field option sales
1,257.2

26.2

1,743.7

30.2

38.7

Total net sales
4,797.0

100.0

5,766.3

100.0

20.2

 
 
 
 
 
 
Cost of system sales
(2,046.4
)
(42.7
)
(2,246.6
)
(39.0
)
9.8

Cost of service and field option sales
(905.5
)
(18.9
)
(1,021.8
)
(17.7
)
12.8

Total cost of sales
(2,951.9
)
(61.5
)
(3,268.4
)
(56.7
)
10.7

 
 
 
 
 
 
Gross profit
1,845.1

38.5

2,497.9

43.3

35.4

 
 
 
 
 
 
Research and development costs
(832.2
)
(17.3
)
(784.5
)
(13.6
)
(5.7
)
Selling, general and administrative costs
(244.4
)
(5.1
)
(261.9
)
(4.5
)
7.2

Operating income
768.5

16.0

1,451.5

25.2

88.9

 
 
 
 
 
 
Finance income
4.6

0.1

5.7

0.1

23.9

Finance costs
(19.4
)
(0.4
)
(24.2
)
(0.4
)
24.7

Income before income taxes
753.7

15.7

1,433.0

24.9

90.1

 
 
 
 
 
 
Income tax benefit (expense)
37.0

0.8

(213.4
)
(3.7
)
(676.8
)
Income after income taxes
790.7

16.5

1,219.6

21.2

54.2

 
 
 
 
 
 
Profit related to investments in associates
19.7

0.4

43.0

0.7

118.3

Net income
810.4

16.9

1,262.6

21.9

55.8

 
 
 
 
 
 
1.
As a percentage of total net sales.

ASML Statutory Interim Report 2020
7


The following table shows a summary of key financial figures on a semi-annual basis for the first half of 2019 and 2020:
 
Unaudited

Unaudited

For the six-month period ended June 30, 2019 and June 28, 2020
2019