reports
- Rolf Bulk
- Jan Frederik Slijkerman
ASML sees risks to 2026 growth/AI remains driver of semiconductor indu...
ASML reported solid 1H25 results and confirmed its FY25 and FY30 outlooks. Also, the net bookings were solid in 2Q25 at €5.5bn. However, ASML sees risks from geopolitical uncertainty to FY26 revenues. Nevertheless, ASML has a very strong balance sheet and good growth prospects. We continue to like the ASML notes. Moreover, they offer good value when compared to the notes of Orange in the belly of the curve.
- Pierre FerraguÊ
Semi cycle update. Much ado about nothing: Tariff and DeepSeek effects...
We publish today our quarterly and extensive review of where fundamentals, expectations, and valuations stand in semis and give our views on how investors should be positioned for the rest of the year. For details, please follow the link below.
- Konrad Zomer
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
REL RELX PLC
HEIA HEINEKEN NV
PUB PUBLICIS GROUPE SA
TKA THYSSENKRUPP AG
MT ARCELORMITTAL SA
BEKB BEKAERT SA
DGE DIAGEO PLC
APAML APERAM SA
VOLV B VOLVO AB CLASS B
OUT1V OUTOKUMPU OYJ
SSAB A SSAB AB CLASS A
NOVN NOVARTIS AG
ABB ABB LTD.
LSEG LONDON STOCK EXCHANGE GROUP PLC
SZG SALZGITTER AG
AMUN AMUNDI SA
WKL WOLTERS KLUWER NV
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
EZJ EASYJET PLC
NDA AURUBIS AG
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
ASSA B ASSA ABLOY AB CLASS B
YPSN YPSOMED HOLDING AG
CFR COMPAGNIE FINANCIERE RICHEMONT SA
RIO RIO TINTO PLC
BHP BHP GROUP LTD
ASML ASML HOLDING NV
AMAG AMAG AUSTRIA METALL AG
VUL VULCAN ENERGY RESOURCES
FER FERROVIAL SA
PUIG PUIG BRANDS
AAL ANGLO AMERICAN PLC
- Konrad Zomer
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
REL RELX PLC
HEIA HEINEKEN NV
PUB PUBLICIS GROUPE SA
TKA THYSSENKRUPP AG
MT ARCELORMITTAL SA
BEKB BEKAERT SA
DGE DIAGEO PLC
APAML APERAM SA
VOLV B VOLVO AB CLASS B
OUT1V OUTOKUMPU OYJ
SSAB A SSAB AB CLASS A
NOVN NOVARTIS AG
ABB ABB LTD.
LSEG LONDON STOCK EXCHANGE GROUP PLC
SZG SALZGITTER AG
AMUN AMUNDI SA
WKL WOLTERS KLUWER NV
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
EZJ EASYJET PLC
NDA AURUBIS AG
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
ASSA B ASSA ABLOY AB CLASS B
YPSN YPSOMED HOLDING AG
CFR COMPAGNIE FINANCIERE RICHEMONT SA
RIO RIO TINTO PLC
BHP BHP GROUP LTD
ASML ASML HOLDING NV
AMAG AMAG AUSTRIA METALL AG
VUL VULCAN ENERGY RESOURCES
FER FERROVIAL SA
PUIG PUIG BRANDS
AAL ANGLO AMERICAN PLC
- Martin Marandon-Carlhian
- Stephane Houri
- Martin Marandon-Carlhian
- Stephane Houri
- Adrian Pehl
- Klaus Ringel
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
RNO RENAULT SA
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
SCMN SWISSCOM AG
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
REE RED ELECTRICA CORP. SA
WIZZ WIZZ AIR HOLDINGS PLC
EZJ EASYJET PLC
RY4C RYANAIR HOLDINGS PLC
PRY PRYSMIAN S.P.A.
MOB MOBILEZONE HOLDING AG
RIO RIO TINTO PLC
ASML ASML HOLDING NV
JDEP JDE PEET'S NV
ACLN ACCELLERON INDUSTRIES LTD
AF AIR FRANCE - KLM
SUNN SUNRISE
- Adrian Pehl
- Klaus Ringel
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
RNO RENAULT SA
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
SCMN SWISSCOM AG
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
REE RED ELECTRICA CORP. SA
WIZZ WIZZ AIR HOLDINGS PLC
EZJ EASYJET PLC
RY4C RYANAIR HOLDINGS PLC
PRY PRYSMIAN S.P.A.
MOB MOBILEZONE HOLDING AG
RIO RIO TINTO PLC
ASML ASML HOLDING NV
JDEP JDE PEET'S NV
ACLN ACCELLERON INDUSTRIES LTD
AF AIR FRANCE - KLM
SUNN SUNRISE
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- Rolf Bulk
- ING Helpdesk
Benelux Morning Notes
Ahold Delhaize: Peer Albertsons 1Q25/26 results ASML: 2Q25 results; good update, focus on FY26 Barco: 1H25 results; margin uplift despite headwinds Belgian Telecoms: DIGI fixed internet launch in Wallonia Flow Traders: June global volume rises but volatility declines MoM NSI: Good operational results, cautious outlook Ontex: Sizeable profit warning calls for material consensus downgrade
- Alvaro del Pozo
ASML HOLDING NV: RDOS. 2T’25 (ANÁLISIS BANCO SABADELL)
Rdos. 2T'25 vs 2T'24: Ventas: 7.692 M euros (+23,2% vs +20,2% consenso); EBIT: 2.664 M euros (+45,3% vs +31,2% consenso); BDI: 2.290 M euros (+45,1% vs +29,5% consenso); Rdos. 1S'25 vs 1S'24: Ventas: 15.434 M euros (+33,8% vs +32,2% consenso); EBIT: 5.402 M euros (+67,5% vs +59,5% consenso); BDI: 4.645 M euros (+65,8% vs +57,0% consenso).
- Martin Marandon-Carlhian
- Stephane Houri
- Martin Marandon-Carlhian
- Stephane Houri
- Hilde Van Boxstael
- Livio Luyten
- Michiel Declercq
- Thibault Leneeuw
- Wim Hoste
- Research Department
IBERIAN DAILY 16 JULY + 2Q’25 RESULTS. PREVIEWS (ANÁLISIS BANCO SABADE...
NEWS SUMMARY: TALGO. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 2Q’25 results to be released over the coming days in Spain. High rates worry the market European stock markets ended in the red following the release of the US inflation data. In the STOXX 600, Technology (NVIDIA received guarantees from the Trump administration that it can resume selling its H20 AI chip in Ch...
- Research Department
INFORME DIARIO 16 JULIO + RDOS. ESPAÑA Y EUROPA 2T’25. PREVIEWS (ANÁLI...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: TALGO. EUROPA: ASML. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 2T’25 que se publicarán en España y Europa en los próximos días. El mercado, preocupado por los tipos altos Las bolsas europeas terminaron en rojo tras los datos de inflación estadounidense. En el STOXX 600 lideraron las subidas Tecnologí...
ASML reports €7.7 billion total net sales and €2.3 billion net income ...
ASML reports €7.7 billion total net sales and €2.3 billion net income in Q2 2025 ASML reports €7.7 billion total net sales and €2.3 billion net income in Q2 2025 Full-year 2025 expected total net sales growth of around 15% with gross margin around 52% VELDHOVEN, the Netherlands, July 16, 2025 – Today, ASML Holding NV (ASML) has published its 2025 second-quarter results. Q2 total net sales of €7.7 billion, gross margin of 53.7%, net income of €2.3 billionQuarterly net bookings in Q2 of €5.5 billion2 of which €2.3 billion is EUVASML expects Q3 2025 total net sales between €7.4 billion and ...
- Pierre FerraguÊ
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