{"id":111199,"date":"2026-07-21T00:37:56","date_gmt":"2026-07-20T22:37:56","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=111199"},"modified":"2026-07-20T19:08:02","modified_gmt":"2026-07-20T17:08:02","slug":"spolecnost-asml-zvysila-vyhled-az-na-45-miliard-eur-poptavka-v-oblasti-umele-inteligence-zajistuje-vytizenost-kapacit-na-nekolik-let-dopredu","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2026\/07\/21\/spolecnost-asml-zvysila-vyhled-az-na-45-miliard-eur-poptavka-v-oblasti-umele-inteligence-zajistuje-vytizenost-kapacit-na-nekolik-let-dopredu\/","title":{"rendered":"Spole\u010dnost ASML zv\u00fd\u0161ila v\u00fdhled a\u017e na 45 miliard EUR: popt\u00e1vka v oblasti um\u011bl\u00e9 inteligence zaji\u0161\u0165uje vyt\u00ed\u017eenost kapacit na n\u011bkolik let dop\u0159edu"},"content":{"rendered":"
<\/div>\n

V odv\u011btv\u00ed v\u00fdroby \u010dip\u016f se m\u011bn\u00ed zp\u016fsob pl\u00e1nov\u00e1n\u00ed. V\u00fdrobci si ji\u017e zaji\u0161\u0165uj\u00ed v\u00fdrobn\u00ed kapacity na n\u011bkolik let dop\u0159edu a tento trend se pln\u011b projevil ve v\u00fdsledc\u00edch spole\u010dnosti ASML. Firma p\u0159ekonala o\u010dek\u00e1v\u00e1n\u00ed, zaznamenala siln\u00fd p\u0159\u00edliv objedn\u00e1vek a p\u0159ipravuje v\u00fdrazn\u00e9 roz\u0161\u00ed\u0159en\u00ed v\u00fdroby. Nejnov\u011bj\u0161\u00ed \u010d\u00edsla nazna\u010duj\u00ed, \u017ee investi\u010dn\u00ed vlna spojen\u00e1 s um\u011blou inteligenc\u00ed se zrychluje a m\u011bn\u00ed cel\u00fd dodavatelsk\u00fd \u0159et\u011bzec.<\/em><\/p>\n

\u010ctvrtlet\u00ed nad o\u010dek\u00e1v\u00e1n\u00edm a r\u016fst nap\u0159\u00ed\u010d v\u00fdsledkovou rozvahou<\/strong><\/h3>\n

Spole\u010dnost ASML dos\u00e1hla ve druh\u00e9m \u010dtvrtlet\u00ed roku 2026 \u010dist\u00fdch tr\u017eeb ve v\u00fd\u0161i 9,326 miliardy EUR, co\u017e p\u0159edstavuje meziro\u010dn\u00ed r\u016fst o 21 % a mezikvart\u00e1ln\u00ed r\u016fst o 6 %. Prodej nov\u00fdch syst\u00e9m\u016f, pou\u017eit\u00fdch za\u0159\u00edzen\u00ed a dal\u0161\u00edch technologick\u00fdch \u0159e\u0161en\u00ed p\u0159inesl 6,565 miliardy EUR, zat\u00edmco servis a modernizace nainstalovan\u00fdch stroj\u016f p\u0159inesly 2,762 miliardy EUR. Hrub\u00fd zisk vzrostl na 5,035 miliardy EUR a hrub\u00e1 mar\u017ee se zv\u00fd\u0161ila na 54 % z 53,7 % p\u0159ed rokem a 53 % v prvn\u00edm \u010dtvrtlet\u00ed. Provozn\u00ed zisk dos\u00e1hl 3,456 miliardy EUR, meziro\u010dn\u011b vzrostl t\u00e9m\u011b\u0159 o 30 % a provozn\u00ed mar\u017ee se posunula z 34,6 % na 37,1 %. \u010cist\u00fd zisk dos\u00e1hl 2,918 miliardy EUR oproti 2,290 miliardy EUR p\u0159ed rokem a z\u00e1kladn\u00ed zisk na akcii se zv\u00fd\u0161il z 5,90 na 7,59 EUR. Spole\u010dnost b\u011bhem \u010dtvrtlet\u00ed prodala 91 litografick\u00fdch syst\u00e9m\u016f oproti 76 za\u0159\u00edzen\u00edm p\u0159ed rokem, p\u0159i\u010dem\u017e se jednalo o 86 nov\u00fdch a p\u011bt pou\u017eit\u00fdch syst\u00e9m\u016f. Nejv\u011bt\u0161\u00edm odb\u011bratelsk\u00fdm regionem byla Ji\u017en\u00ed Korea s 43 % tr\u017eeb ze syst\u00e9m\u016f, n\u00e1sledovala Tchaj-wan s 30 %, \u010c\u00edna s 14 %, Spojen\u00e9 st\u00e1ty s 9 % a Japonsko s 4 %.<\/p>\n

Popt\u00e1vka po AI se roz\u0161i\u0159uje do oblasti logiky, pam\u011bt\u00ed a slu\u017eeb<\/strong><\/h3>\n

R\u016fst spole\u010dnosti ASML ji\u017e nespo\u010d\u00edv\u00e1 pouze na jedn\u00e9 skupin\u011b z\u00e1kazn\u00edk\u016f nebo jednom typu za\u0159\u00edzen\u00ed. U pokro\u010dil\u00fdch logick\u00fdch \u010dip\u016f v\u00fdrobci roz\u0161i\u0159uj\u00ed kapacity u st\u00e1vaj\u00edc\u00edch proces\u016f s rozm\u011bry 5, 4 a 3 nanometr\u016f, kter\u00e9 vyu\u017e\u00edvaj\u00ed nejv\u00fdkonn\u011bj\u0161\u00ed procesory pro datov\u00e1 centra a um\u011blou inteligenci. Z\u00e1rove\u0148 urychluj\u00ed zav\u00e1d\u011bn\u00ed 2nanometrov\u00fdch proces\u016f a za\u010d\u00ednaj\u00ed p\u0159ipravovat v\u00fdrobu s rozm\u011brem 1,4 nanometru. Spole\u010dnost ASML proto o\u010dek\u00e1v\u00e1, \u017ee jej\u00ed tr\u017eby z pokro\u010dil\u00e9 v\u00fdroby logick\u00fdch \u010dip\u016f v roce 2026 vzrostou p\u0159ibli\u017en\u011b o 25 %. Je\u0161t\u011b rychlej\u0161\u00ed v\u00fdvoj p\u0159edpov\u00edd\u00e1 u pam\u011b\u0165ov\u00fdch \u010dip\u016f. Vysok\u00e1 popt\u00e1vka po pam\u011btech DDR a HBM vytv\u00e1\u0159\u00ed pot\u0159ebu nov\u00fdch kapacit a nut\u00ed v\u00fdrobce urychlovat sv\u00e9 investi\u010dn\u00ed pl\u00e1ny. Tr\u017eby spole\u010dnosti ASML v segmentu pam\u011bt\u00ed by se proto v roce 2026 m\u011bly zv\u00fd\u0161it p\u0159ibli\u017en\u011b o 75 %. V\u00fdznamn\u00fdm motorem se st\u00e1v\u00e1 tak\u00e9 Installed Base Management, kter\u00fd zahrnuje servis a modernizace st\u00e1vaj\u00edc\u00edch za\u0159\u00edzen\u00ed. Tato \u010d\u00e1st podnik\u00e1n\u00ed ve druh\u00e9m \u010dtvrtlet\u00ed p\u0159ekonala o\u010dek\u00e1v\u00e1n\u00ed veden\u00ed p\u0159ibli\u017en\u011b o 300 milion\u016f EUR a za cel\u00fd rok by m\u011bla vzr\u016fst o v\u00edce ne\u017e 30 %. Z\u00e1kazn\u00edci vyu\u017e\u00edvaj\u00ed zejm\u00e9na softwarov\u00e9 a technologick\u00e9 modernizace, kter\u00e9 zvy\u0161uj\u00ed produktivitu ji\u017e nainstalovan\u00fdch syst\u00e9m\u016f bez nutnosti rozs\u00e1hl\u00e9ho zastaven\u00ed v\u00fdroby. [1]<\/p>\n

Objedn\u00e1vky ji\u017e ur\u010duj\u00ed kapacity na roky 2027 a 2028<\/strong><\/h3>\n

Spole\u010dnost ASML nezve\u0159ejnila p\u0159esnou hodnotu nov\u00fdch objedn\u00e1vek za druh\u00e9 \u010dtvrtlet\u00ed, uvedla v\u0161ak, \u017ee popt\u00e1vka byla b\u011bhem cel\u00e9ho prvn\u00edho pololet\u00ed velmi siln\u00e1. Podle veden\u00ed je spole\u010dnost ji\u017e bl\u00edzko k tomu, aby m\u011bla zaji\u0161t\u011bny t\u00e9m\u011b\u0159 v\u0161echny objedn\u00e1vky pot\u0159ebn\u00e9 k pln\u00e9mu vyu\u017eit\u00ed v\u00fdrobn\u00edch kapacit v roce 2027, a to i p\u0159esto, \u017ee tyto kapacity pl\u00e1nuje v\u00fdrazn\u011b roz\u0161\u00ed\u0159it. V roce 2026 chce ASML vyrobit p\u0159ibli\u017en\u011b 65 nejmodern\u011bj\u0161\u00edch litografick\u00fdch za\u0159\u00edzen\u00ed a v roce 2027 pl\u00e1nuje zv\u00fd\u0161it v\u00fdrobu o p\u0159ibli\u017en\u011b 30 % na asi 85 kus\u016f. Podobn\u00fd r\u016fst pl\u00e1nuje i u dal\u0161\u00edch typ\u016f za\u0159\u00edzen\u00ed, kter\u00e1 se pou\u017e\u00edvaj\u00ed p\u0159i v\u00fdrob\u011b \u010dip\u016f. Jejich produkce by m\u011bla vzr\u016fst ze zhruba 130 za\u0159\u00edzen\u00ed v roce 2026 na p\u0159ibli\u017en\u011b 170 v roce 2027. Spole\u010dnost z\u00e1rove\u0148 zva\u017euje dal\u0161\u00ed roz\u0161\u00ed\u0159en\u00ed v\u00fdroby i pro rok 2028, p\u0159i\u010dem\u017e ji\u017e nyn\u00ed zaznamen\u00e1v\u00e1 velk\u00fd z\u00e1jem z\u00e1kazn\u00edk\u016f i pro toto obdob\u00ed. D\u016fle\u017eitou roli v budouc\u00edm r\u016fstu m\u00e1 sehr\u00e1t tak\u00e9 nov\u00e1 generace je\u0161t\u011b v\u00fdkonn\u011bj\u0161\u00edch za\u0159\u00edzen\u00ed, kter\u00e1 umo\u017e\u0148uj\u00ed vyr\u00e1b\u011bt men\u0161\u00ed a v\u00fdkonn\u011bj\u0161\u00ed \u010dipy. Spole\u010dnost ASML ji\u017e tyto technologie testuje ve spolupr\u00e1ci se spole\u010dnost\u00ed Intel a prvn\u00ed v\u00fdsledky ukazuj\u00ed, \u017ee jsou p\u0159ipraveny k nasazen\u00ed ve velkov\u00fdrob\u011b. Spole\u010dnost z\u00e1rove\u0148 jedn\u00e1 s dal\u0161\u00edmi v\u00fdrobci \u010dip\u016f o tom, kdy za\u010dnou tato nov\u00e1 za\u0159\u00edzen\u00ed pou\u017e\u00edvat ve sv\u00fdch tov\u00e1rn\u00e1ch. [2]<\/p>\n

Vy\u0161\u0161\u00ed v\u00fdhled m\u011bn\u00ed obraz cel\u00e9ho roku<\/strong><\/h3>\n

Spole\u010dnost ASML o\u010dek\u00e1v\u00e1 ve t\u0159et\u00edm \u010dtvrtlet\u00ed roku 2026 \u010dist\u00e9 tr\u017eby v rozmez\u00ed 11 a\u017e 12 miliard EUR, z \u010deho\u017e p\u0159ibli\u017en\u011b 2,9 miliardy EUR by m\u011blo poch\u00e1zet ze servisu a modernizace nainstalovan\u00fdch syst\u00e9m\u016f. Hrub\u00e1 mar\u017ee by m\u011bla dos\u00e1hnout 55 a\u017e 57 %, v\u00fddaje na v\u00fdzkum a v\u00fdvoj p\u0159ibli\u017en\u011b 1,2 miliardy EUR a prodejn\u00ed, obecn\u00e9 a administrativn\u00ed n\u00e1klady p\u0159ibli\u017en\u011b 400 milion\u016f EUR. Celoro\u010dn\u00ed v\u00fdhled tr\u017eeb spole\u010dnost zv\u00fd\u0161ila z p\u016fvodn\u00edch 36 a\u017e 40 miliard EUR na 43 a\u017e 45 miliard EUR. St\u0159edn\u00ed hodnota progn\u00f3zovan\u00e9ho rozmez\u00ed se t\u00edm zv\u00fd\u0161ila t\u00e9m\u011b\u0159 o 16 %. O\u010dek\u00e1vanou celoro\u010dn\u00ed hrubou mar\u017ei posunula z p\u016fvodn\u00edch 51 a\u017e 53 % na 54 a\u017e 56 % a efektivn\u00ed da\u0148ovou sazbu o\u010dek\u00e1v\u00e1 p\u0159ibli\u017en\u011b na \u00farovni 17 %. Spole\u010dnost ve druh\u00e9m \u010dtvrtlet\u00ed vytvo\u0159ila provozn\u00ed cash flow ve v\u00fd\u0161i 1,703 miliardy EUR. Investice do nemovitost\u00ed a v\u00fdrobn\u00edch za\u0159\u00edzen\u00ed dos\u00e1hly 299 milion\u016f EUR a n\u00e1kup nehmotn\u00fdch aktiv p\u0159edstavoval 87 milion\u016f EUR, tak\u017ee po ode\u010dten\u00ed t\u011bchto polo\u017eek zbylo p\u0159ibli\u017en\u011b 1,317 miliardy EUR. Ke konci \u010dtvrtlet\u00ed m\u011bla spole\u010dnost hotovost a kr\u00e1tkodob\u00e9 investice ve v\u00fd\u0161i 7,582 miliardy EUR. Spole\u010dnost ASML z\u00e1rove\u0148 odkoupila p\u0159ibli\u017en\u011b 800 tis\u00edc vlastn\u00edch akci\u00ed za 1,1 miliardy EUR a od zah\u00e1jen\u00ed programu odkoupila p\u0159ibli\u017en\u011b 1,7 milionu akci\u00ed za 2,1 miliardy EUR. Cel\u00fd program umo\u017e\u0148uje zp\u011btn\u00fd odkup a\u017e do v\u00fd\u0161e 12 miliard EUR do konce roku 2028. Prvn\u00ed pr\u016fb\u011b\u017en\u00e1 dividenda za rok 2026 dos\u00e1hne 1,88 EUR na akcii a bude vyplacena 5. srpna. V\u00fdznamn\u00fdm rizikem z\u016fst\u00e1v\u00e1 \u010c\u00edna, kter\u00e1 by podle veden\u00ed m\u011bla tvo\u0159it p\u0159ibli\u017en\u011b 20 % celoro\u010dn\u00edch tr\u017eeb. Spole\u010dnost tam m\u016f\u017ee prod\u00e1vat m\u00e9n\u011b pokro\u010dil\u00e1 za\u0159\u00edzen\u00ed vyu\u017e\u00edvaj\u00edc\u00ed hlubokou ultrafialovou litografii, av\u0161ak v\u00fdvoz syst\u00e9m\u016f vyu\u017e\u00edvaj\u00edc\u00edch extr\u00e9mn\u00ed ultrafialovou litografii a nejv\u00fdkonn\u011bj\u0161\u00edch technologi\u00ed hlubok\u00e9 ultrafialov\u00e9 litografie z\u016fst\u00e1v\u00e1 omezen, p\u0159i\u010dem\u017e dal\u0161\u00ed zp\u0159\u00edsn\u011bn\u00ed pravidel by mohlo ovlivnit budouc\u00ed prodej. [3]<\/p>\n

Peter Svore\u0148, CEO <\/strong>ApmeFX Trading Europe Ltd.<\/strong><\/a><\/h4>\n

[1,2,3] V\u00fdhledov\u00e1 prohl\u00e1\u0161en\u00ed vych\u00e1zej\u00ed z p\u0159edpoklad\u016f a sou\u010dasn\u00fdch o\u010dek\u00e1v\u00e1n\u00ed, kter\u00e1 mohou b\u00fdt nep\u0159esn\u00e1, nebo ze sou\u010dasn\u00e9ho ekonomick\u00e9ho prost\u0159ed\u00ed, kter\u00e9 se m\u016f\u017ee zm\u011bnit. Takov\u00e1 prohl\u00e1\u0161en\u00ed nezaru\u010duj\u00ed budouc\u00ed v\u00fdsledky. Jsou spojena s riziky a dal\u0161\u00edmi nejistotami, kter\u00e9 je obt\u00ed\u017en\u00e9 p\u0159edv\u00eddat. V\u00fdsledky se mohou podstatn\u011b li\u0161it od t\u011bch, kter\u00e9 jsou vyj\u00e1d\u0159eny nebo implikov\u00e1ny v jak\u00fdchkoli v\u00fdhledov\u00fdch prohl\u00e1\u0161en\u00edch.<\/p>\n

Zdroje:<\/strong><\/h3>\n

https:\/\/www.asml.com\/en\/news\/press-releases\/2026\/q2-2026-financial-results<\/a><\/p>\n

https:\/\/www.reuters.com\/business\/asml-tops-q2-estimates-ai-chip-demand-2026-07-15\/<\/a><\/p>\n

https:\/\/www.asml.com\/en\/investors\/financial-results\/q2-2026<\/a><\/p>\n

https:\/\/ourbrand.asml.com\/asset\/9078cf4d-91fd-4dd9-a5d5-d1caab6dc046\/2026_07_15_Presentation-Investor-Relations-Q2-2026.pdf<\/a><\/p>\n

https:\/\/ourbrand.asml.com\/asset\/ffeb8813-403b-49df-83c0-01aae7533dd6\/Financial-statements-US-GAAP-Q2-2026.pdf<\/a><\/p>\n

https:\/\/www.asml.com\/en\/news\/press-releases\/2026\/high-na-euv-reaches-new-readiness-milestone<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

V odv\u011btv\u00ed v\u00fdroby \u010dip\u016f se m\u011bn\u00ed zp\u016fsob pl\u00e1nov\u00e1n\u00ed. V\u00fdrobci si ji\u017e zaji\u0161\u0165uj\u00ed v\u00fdrobn\u00ed kapacity na…<\/p>\n","protected":false},"author":2,"featured_media":105203,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[3101,1042,331],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/111199"}],"collection":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/comments?post=111199"}],"version-history":[{"count":0,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/111199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/105203"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=111199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=111199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=111199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}