Financial highlights € million Q4 2023 Q3 2024 Q4 2024 New orders 677.5 815.3 731.4 yoy change % at constant currencies (14%) 30% 8% Revenue 632.9 778.6 809.0 yoy change % at constant currencies (7%) 26% 27% Gross profit margin % 47.2 % 49.4 % 50.3 % Adjusted gross profit margin 1 47.9 % 49.4 % 50.3 % Operating result 131.5 215.2 222.3 Operating result margin % 20.8 % 27.6 % 27.5 % Adjusted operating result 1 141.0 219.9 227.0 Adjusted operating result margin 1 22.3 % 28.2 % 28.1 % Net earnings 90.9 127.9 225.8 Adjusted net earnings 1 100.3 133.6 231.5 1 Adjusted figures are non-IFRS performance measures.
Refer to Annex 3 for a reconciliation of non-IFRS performance measures. New orders of €731 million in Q4 2024 increased YoY by 8% at constant currencies (also 8% as reported), with the increase again mainly driven by solid demand for gate-all-around (GAA) and high-bandwidth memory (HBM) DRAM.
Taking into account the recently announced new U.S.export controls and as communicated in our press release of December 4, 2024, our China revenue is expected to decrease in 2025, with equipment sales from this market falling in a range of low-to-high 20s percentage of total ASM revenue.
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